Truck Loader Crane Market Share

North American Market Forecast

The truck loader crane market in North America is projected to be the largest with a share of about 30% by the end of 2037. Factor influencing the market's expansion is the rise in demand for heavy construction equipment and the rising manufacturing of machines globally. It is anticipated that new orders for construction equipment in the US will increase significantly in 2021, by about 12% over the previous year. US industrial production climbed by approximately 3% in the third month of October compared to the same period last year.

APAC Market Statistics

The Asia Pacific truck loader crane market is estimated to be the second largest, registering a share of 28% during the forecasted timeframe. Both the population and the demand for housing are growing. The demand for homes in India has grown by almost 35% since the fiscal year of the Low Basic Income in 2021 and is expected to grow another 10% this year. Additionally, it is predicted that urbanization would cause this sector to grow at a faster rate going forward. As of 2021, India's urbanization had increased by 4% over the previous ten years.