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Industry Developments
The India Truck Mounted Cranes Market has witnessed notable developments recently, particularly with key players such as Sany, Kato, and Liebherr actively investing in expanding their product offerings. August 2023 saw Ashok Leyland enhance its manufacturing capabilities, focusing on the production of eco-friendly trucks, which could potentially influence the truck-mounted crane segment. In terms of mergers and acquisitions, March 2023 marked the acquisition of a significant stake in JMG Cranes by a strategic investor aiming to bolster market presence. Over the past few years, the market has shown steady growth, with the valuation of Manitowoc and Terex reflecting an upward trend due to increased demand for construction and infrastructure projects initiated by the Indian government. The expansion of urbanization and investment in infrastructure, highlighted in various government initiatives since 2021, has provided additional momentum for companies like Zoomlion and XCMG. Furthermore, FDI policies in the construction machinery sector have attracted foreign investment, leading to joint ventures that enhance technological advancements in truck-mounted cranes. The increasing focus on safety and efficiency in construction work is also driving innovations within this market.
Report Scope
Report Scope:
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 1.5(USD Billion) |
| MARKET SIZE 2024 | 1.58(USD Billion) |
| MARKET SIZE 2035 | 3.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.539% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Sany, Kato, Nilkamal, Liebherr, LNT Construction, Manitowoc, Terex, Kyndryl, JMG Cranes, Zoomlion, XCMG, Tadano, Kobelco, Ashok Leyland |
| SEGMENTS COVERED | Type, Application |
| KEY MARKET OPPORTUNITIES | Rising construction activities, Infrastructure development initiatives, Government support for transportation, Adoption of advanced technologies, Growing demand for multi-functional equipment |
| KEY MARKET DYNAMICS | growing construction industry, increasing infrastructure spending, demand for efficient lifting solutions, government regulations on safety, technological advancements in cranes |
| COUNTRIES COVERED | India |
FAQs
What is the current market size of the India Truck Mounted Cranes Market in 2024?
The India Truck Mounted Cranes Market is expected to be valued at 1.58 USD Billion in 2024.
What is the projected market size of the India Truck Mounted Cranes Market by 2035?
By 2035, the India Truck Mounted Cranes Market is projected to reach 3.5 USD Billion.
What is the expected CAGR for the India Truck Mounted Cranes Market from 2025 to 2035?
The expected CAGR for the India Truck Mounted Cranes Market from 2025 to 2035 is 7.539%.
Which segment is expected to dominate the India Truck Mounted Cranes Market in 2024?
Mounted Cranes are valued at 0.54 USD Billion in 2024, making them a dominant segment in the market.
What is the market size of Sidelift Cranes in 2024?
In 2024, Sidelift Cranes are valued at 0.42 USD Billion in the India Truck Mounted Cranes Market.
Who are the key players in the India Truck Mounted Cranes Market?
Major players in the market include Sany, Kato, Nilkamal, Liebherr, and Manitowoc among others.
What is the projected market size of Boom Truck Cranes by 2035?
Boom Truck Cranes are projected to reach a market size of 0.75 USD Billion by 2035.
What challenges might the India Truck Mounted Cranes Market face in the upcoming years?
The market could face challenges from competition, supply chain disruptions, and fluctuating demand.
What growth drivers are contributing to the India Truck Mounted Cranes Market?
Key growth drivers include increasing infrastructure development and urbanization across India.
How is the market expected to evolve in terms of application?
The applications for truck mounted cranes are expected to expand due to ongoing urban development projects.
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