Rough Terrain Crane Market Report

The total tip length and boom length of rough terrain cranes define the equipment's operating capabilities in terms of lifting ability and carrying operations. In order to fulfil increased demand from end-user industries, rough terrain crane manufacturers have provided multiple boom length and tip length choices. Rough terrain crane landscape, like any other heavy-duty equipment, continues to see product development and innovation to meet the evolving needs of end customers. For instance, Manitowoc has developed tough terrain cranes with a boom length of 80 metres and a maximum tip height of 120 metres.

Manitowoc rough terrain cranes have a fully motorised seven-section boom and suspension system with independent hydro-pneumatic suspensions and hydraulic lockout. TIL has also introduced longer booms in its challenging terrain cranes to provide maximum reach and lifting capabilities. Buyers of tough terrain cranes require equipment with enhanced automation and diagnostics. As a result of such specific demands from customers, manufacturers' product quality has improved due to R&D and product innovation in advanced telematics systems. The installation of new, innovative features to the operator's cabin has made life much simpler for operators and allowed them to work in a range of difficult weather situations.

The vendors are forced to develop a wide range of rough-terrain cranes that are suitable for both local and foreign markets owing to the varied nature of requirements in various international markets, which is raising the cost of manufacturing. For instance, in Japan, the chassis design and axle specification of rough-terrain crane models differ from those used in the United States. Furthermore, strict laws such as Stage V (in Europe) that are established to limit the emissions from large industrial trucks raise the cost even further. Furthermore, countries such as China and India are projected to implement comparable regulatory standards, posing a threat to market growth throughout the forecast period.

However, these cranes are tailored for off-road and uneven surfaces, limiting their utility in urban or well-paved areas and constraining market expansion in regions with minimal demand. They also encounter stringent competition from all-terrain and mobile cranes, which offer greater versatility and potentially lower operational costs. Additionally, rapid advancements in crane technology may outpace the capabilities of existing rough-terrain models, necessitating frequent updates. Moreover, the need for skilled operators and technicians further hampers market growth, given the ongoing shortage of qualified personnel.

Major industry leaders utilize strategies that focus on launching new products, merging with competitors, and purchasing companies to grow their customer base and enhance their range of products. In May 2024, Liebherr is set to unveil its latest innovation, the LRT 1130-2.1 rough-terrain crane, with the ALL Family of Companies receiving the initial five units. This model stands out with a 140-ton capacity and a 197-foot telescopic boom, the longest in its class for two-axle RT cranes. The LRT 1130-2.1 stands out for its great transport efficiency, being able to fit on regular low-loaders without needing to be taken apart. This crane is expected to meet rising North American demand for high-capacity RTs in sectors like petrochemical maintenance and wind energy, reflecting Liebherr’s focus on market-driven design.

Additionally, in January of the year 2023, Sumitomo Heavy Industries, Ltd. (SHI), the company that owns Link-Belt Cranes, revealed a deal with Hitachi Construction Machinery Co., Ltd. (HCM) plans to purchase HCM's stake in Sumitomo Heavy Industries Construction Cranes Co., Ltd. (HSC) will be converted into a fully owned subsidiary of SHI.

The largest market share was held by the Asia-Pacific region. The increase in construction activity in countries like as India, China, Japan, and Indonesia is a prominent driver fueling the Asia Pacific market's growth. China is one of the region's most important marketplaces. The Chinese government implemented various favourable regulations, including decreasing the percentage of down payment for second home loans and exempting ordinary homes from sales tax. In North America, the primary markets for rough-terrain cranes are the United States and Canada. However, market growth in this region is going to be faster than in other regions. Ongoing significant road construction projects in the United States include the Hampton Roads Bridge-Tunnel (HRBT) expansion project in Virginia and the I-635 LBJ East project in Texas. The increasing development of key end-user sectors such as oil and gas, construction, and utilities in countries such as the United States, as well as the presence of prominent players, will aid the growth of the rough-terrain crane market in North America throughout the forecast period.