APAC Truck Loader Crane Market size is slated to cross USD 700 million by 2027, according to a latest forecast report by Graphical Research.
The market growth is due to increasing government investments in the utility sector. The governments of India, Japan, Australia, and South Korea are focusing on strengthening their 5G networks to improve communication and internet connectivity. For instance, in January 2022, the Government of India announced to establish around eight lakh towers to enhance the 5G coverage across the country. This will propel truck loader crane demand for pole and communication equipment handling in the region.
Growing demand for truck loader cranes in the region is encouraging industry participants to adopt unique branding strategies to enhance their brand value. Key players, such as SANY Group and Palfinger New Zealand, are organizing truck loader crane exhibitions and competitors for advertisement. For instance, in August 2021, Palfinger NZ announced to sponsor a truck loader crane competition in the TMC Trailers Trucking Industry Show in March 2022 at Canterbury Agriculture Park, Christchurch, New Zealand.
The Asia Pacific truck loader market witnessed significant growth restrictions in 2020 due to the COVID-19 pandemic. The majority of the governments imposed strict safety measures to mitigate the spread of coronavirus. This resulted in the postponement of various construction & utility projects, shutdown of dealers & distributor offices, and ban on imports & exports, thus affecting the sales of truck loader cranes. However, the market is witnessing significant growth from 2021 end due to increasing government & private company investments in utility and forestry activities.
Browse detailed statistical insights from the report, “Asia Pacific Truck Loader Crane Market Forecast 2027 By End-use (Rental, Construction, Mining, Oil & Gas, Energy, Forestry, Logistics), By Product (Small-duty [Up to 6 Metric Tons], Medium-duty [7 to 20 Metric Tons], Big-duty [21 to 80 Metric Tons], Heavy-duty [Above 80 metric tons]), By Type (Knuckle Boom, Stiff Boom), By Sales (New Sales, Aftermarket), Research Report, Country Outlook (China, India, Japan, Vietnam, Singapore, Australia, New Zealand), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Increasing utility works, such as power transformation deployment and telecom pole maintenance, are accelerating the adoption of stiff boom truck loader cranes. Established market players are introducing special-purpose stiff boom truck loader cranes in the region to improve their market share. For instance, in February 2022, Xuzhou Construction Machinery Group Co., Ltd. (XCMG) organized a departure event for its new G series truck loader cranes with a capacity of up to 42 tons & mounted on Hanfeng G5 customized chassis to its dealers across the globe.
The APAC truck loader market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Product
- Small-duty [Up to 6 metric tons]
- Medium-duty [7 to 20 metric tons]
- Big-duty [21 to 80 metric tons]
- Heavy-duty [Above 80 metric tons]
Asia Pacific Market, By Type
Asia Pacific Market, By Sales
Asia Pacific Market, By End-use
- Oil & Gas
The above information has been provided for the following countries:
- Asia Pacific
- South Korea