North American Truck Loader Crane Market size is predicted to surpass USD 600 million by 2027, according to a latest forecast report by Graphical Research.
The market growth is due to federal government investments in utility applications. The government is investing in upgrading transmission lines, building renovations, and telecom pole maintenance, thus driving the market revenue in North America. For instance, in April 2021, the U.S. Federal government announced to invest around USD 8 billion in the upgrading of national transmission lines. This investment will assist the government in its vision to produce 100% clean energy in the region by 2035.
The rising penetration by automobile giants in the region is creating a positive market outlook for truck loader cranes. Automotive OEMs are establishing their manufacturing facilities in the region to reduce transport time, thereby improving the industry statistics. For instance, in November 2021, Tesla announced to construct a production facility for battery gears in Markham Ontario. Such initiatives by automotive companies will create robust market opportunities.
Browse detailed statistical insights from the report, “North America Truck Loader Crane Market Forecast 2027 By Type (Knuckle Boom, Stiff Boom), 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 Sales (New Sales, Aftermarket), By End-use (Rental, Construction, Mining, Oil & Gas, Energy, Forestry, Logistics), Research Report, Country Outlook (U.S. and Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The North America truck loader crane industry was drastically affected in the first two quarters of 2020 attributed to the significant transmission of COVID-19 in the region. The U.S. and Canadian governments imposed stringent lockdowns to curb virus transmission. This lockdown resulted in the ban on international transport and temporary suspension of manufacturing facilities. However, the market growth is owing to government relaxations after the significant decrease in the number of infected patients.
Heavy-duty truck loader cranes have a high payload capacity and the ability to perform efficient operations for a longer period. These factors accelerate their adoption in the U.S. Companies operating in the market are focusing on gaining high-valued contracts to improve their revenue growth. For instance, in October 2021, HIAB USA received a USD 4.3 million order for heavy-duty truck loaders from its client in the U.S. The client is a distributor of truck loader cranes and the order is expected to be delivered by mid-2022.
The truck loader crane in North American 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:
North America 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]
North America Market, By Type
North America Market, By Sales
North America Market, By End-use
- Oil & Gas
The above information has been provided for the following countries: