A lorry loader is a crane mounted on a truck chassis. Its primary application is to load/unload the truck. It can lift load from all sides adding to its flexibility. The crane truck is a portable boom crane mounted on an industrial truck; it may be used with hooks, grabs, and slings for bundled or coiled material. These are also called a knuckle-boom crane or articulating crane and are hydraulically powered articulated arm fitted to a truck or trailer, specifically used for loading/unloading the vehicle cargo. The numerous jointed sections can be folded into a small space when the crane is not in use. The most common use of cranes is in the construction industry and heavy equipment manufacturing.
Market Scope and Structure Analysis
The upcoming and ongoing large construction projects across the globe are anticipated to fuel the truck loader cranes demand. Several countries, such as the U.S., the UK, Germany, China, and India, are witnessing high investments in infrastructure development projects, which include the construction of railway tunnels, commercial & residential buildings, airports, and port extension. These machines are used at construction sites to load or unload heavy materials from the truck’s deck. The rapidly growing oil & gas industry is propelling the growth of the truck loader crane market. The rugged design of the truck loader cranes enables them to be used for heavy-duty applications, providing efficient and reliable vertical transportation for offshore installations. These cranes are used in the oil extraction industry for the safe and secure conveying of liquid containers.
However, one of the major market factors challenging the market growth is the improper usage of the equipment. Lack of importance given to the safety & efficiency of truck loader cranes results in improper loading & unloading operations at the construction sites. The implementation of appropriate government regulations to work with heavy materials along with other progressive steps to increase awareness of the usage of cranes, such as training workers regarding appropriate usage, will help in reducing workplace accidents.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the truck loader crane market attributed to the lockdown in countries worldwide. This has hampered the growth of truck loader crane market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of truck loader crane market in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for truck loader crane was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for truck loader crane products.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Truck loader crane market manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- Truck loader crane market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
The increase in demand for medium-duty cranes is further attributed to their several advantages including installation & operational convenience over traditional crane equipment and the replacement of workers in load lifting operations. Market participants are offering innovative and advanced medium-duty loader cranes in response to the surge in demand across several industrial applications. Competition in the market is increasing based on product strength & quality, distribution channel, and customer service support. Prominent players are focusing on product portfolio expansion and strategic alliances to increase their global market share. The reports cover key developments in the truck loader crane market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from truck loader crane market are anticipated to lucrative growth opportunities in the future with the rise in demand for truck loader cranes in the global market.
- Companies would have to take technology and innovation as a strategic objective of the company to sustain their competitive advantage. Companies have to plan, define, and execute strategy in a way to develop required capabilities to meet customer and stakeholders' desires. For instance, PM Oil & Steel S.p.A., a subsidiary company of Manitex International, incorporated several technological innovations, resulting in reduced weight and increased power of the loader crane.
- A product development strategy is a strategy based on developing new products or modifying existing products so they appear new, and offering those products to current or new markets. For instance, HIAB has designed a loader crane for the waste and recycling industry, where municipalities and local authorities need to handle the management of collecting and scraping waste materials effectively.
Key Benefits of the Report
- This study presents the analytical depiction of the truck loader crane market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the truck loader crane market share.
- The current market is quantitatively analysed to highlight the truck loader crane market industry growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed truck loader crane market analysis based on competitive intensity and how the competition will take shape in coming years.
Truck Loader Crane Market Report Highlights
| Aspects | Details |
 By Type |
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 By Capacity |
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 By Sales |
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 By End User Industry |
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 By Region |
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 Key Market Players | PM Group S.p.A, Hyva, The Atlas Group, Cormach S.R.L., Palfinger AG, Cargotec Oyj, Xuzhou Construction Machinery Group Co., Ltd., Prangl, Next Hydraulics s.r.l.., Tadano Ltd., Fassi Gru S.p.A. |
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