According to our (Global Info Research) latest study, the global Articulating Knuckle Boom Cranes market size was valued at USD 860.7 million in 2022 and is forecast to a readjusted size of USD 1209.2 million by 2029 with a CAGR of 5.0% during review period.
A knuckle boom crane, (also known as an articulating crane), is a category of truck-mounted equipment used for lifting heavy loads. Knuckle boom cranes are designed to be lightweight and highly maneuverable while still handling heavy loads.
An articulating knuckle boom crane, also known as an articulated crane or knuckle boom crane, is a type of material handling equipment widely used in various industries such as construction, transportation, oil and gas, forestry, and manufacturing. It consists of a multi-section boom that can articulate or bend at different points, enabling it to reach difficult-to-access areas and lift loads with precision and versatility.
Market Drivers:
Versatility and Flexibility: Articulating knuckle boom cranes are highly versatile, capable of reaching over obstacles and around structures, making them suitable for jobs in confined spaces and areas with limited access.
Safety and Efficiency: These cranes offer enhanced safety features, such as load monitoring systems and stability controls, reducing the risk of accidents and improving overall efficiency.
Increasing Construction and Infrastructure Projects: The growth in construction and infrastructure projects worldwide drives the demand for material handling equipment like knuckle boom cranes.
Industrial Expansion: The expansion of industries such as oil and gas, transportation, and manufacturing fuels the need for efficient material handling equipment to streamline operations.
Technological Advancements: Continuous advancements in crane technology, including better hydraulic systems and electronic controls, have improved the performance and capabilities of knuckle boom cranes.
Growing Focus on Eco-friendly Solutions: Many manufacturers are developing eco-friendly and energy-efficient cranes to align with environmental regulations and customer demands.
Market Challenges:
High Initial Cost: Articulating knuckle boom cranes can be more expensive compared to traditional cranes, which could deter some potential buyers.
Intense Competition: The market for material handling equipment, including knuckle boom cranes, is competitive, with numerous players vying for market share.
Economic Factors: Market fluctuations and economic downturns can impact investments in infrastructure and industrial projects, affecting the demand for cranes.
Stringent Regulations: Stringent safety and emissions regulations in various regions might pose challenges to manufacturers and users.
Maintenance and Training: Proper maintenance and operator training are crucial for the safe and efficient operation of knuckle boom cranes, adding to the overall cost.
Market Outlook:
The articulating knuckle boom crane market is expected to continue growing in the coming years, driven by increasing infrastructure developments, industrial expansion, and the need for more flexible and efficient material handling solutions. Technological advancements will likely enhance the cranes' capabilities further, attracting new customers and applications.
Moreover, as environmental concerns and regulations persist, manufacturers are likely to focus on developing more sustainable and eco-friendly crane solutions to meet market demands and comply with environmental standards.
The Global Info Research report includes an overview of the development of the Articulating Knuckle Boom Cranes industry chain, the market status of Construction (Less Than 5 Tm, 5 Tm to 15 Tm), Transport & Marine (Less Than 5 Tm, 5 Tm to 15 Tm), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Articulating Knuckle Boom Cranes.
Regionally, the report analyzes the Articulating Knuckle Boom Cranes markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Articulating Knuckle Boom Cranes market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Articulating Knuckle Boom Cranes market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Articulating Knuckle Boom Cranes industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (Units), revenue generated, and market share of different by Type (e.g., Less Than 5 Tm, 5 Tm to 15 Tm).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Articulating Knuckle Boom Cranes market.
Regional Analysis: The report involves examining the Articulating Knuckle Boom Cranes market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Articulating Knuckle Boom Cranes market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Articulating Knuckle Boom Cranes:
Company Analysis: Report covers individual Articulating Knuckle Boom Cranes manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Articulating Knuckle Boom Cranes This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Construction, Transport & Marine).
Technology Analysis: Report covers specific technologies relevant to Articulating Knuckle Boom Cranes. It assesses the current state, advancements, and potential future developments in Articulating Knuckle Boom Cranes areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Articulating Knuckle Boom Cranes market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Articulating Knuckle Boom Cranes market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
Less Than 5 Tm
5 Tm to 15 Tm
15.1 Tm to 25 Tm
25.1 Tm to 50 Tm
Over 50 Tm
Market segment by Application
Construction
Transport & Marine
Industrial
Forestry and Agriculture
Others
Major players covered
Hiab (Cargotec)
Palfinger
Huisman
Fassi
Iowa Mold Tooling Co., Inc. (IMT)
HMF
Tadano
ATLAS
Manitex
Cormach
Heila Cranes
Kenz Figee Group
Hyva Group
COPMA (CPS GROUP)
Furukawa
SANY Group
SMST
XCMG
JOMAC
Market segment by region, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Articulating Knuckle Boom Cranes product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Articulating Knuckle Boom Cranes, with price, sales, revenue and global market share of Articulating Knuckle Boom Cranes from 2018 to 2023.
Chapter 3, the Articulating Knuckle Boom Cranes competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Articulating Knuckle Boom Cranes breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2018 to 2029.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2018 to 2029.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2022.and Articulating Knuckle Boom Cranes market forecast, by regions, type and application, with sales and revenue, from 2024 to 2029.
Chapter 12, market dynamics, drivers, restraints, trends, Porters Five Forces analysis, and Influence of COVID-19 and Russia-Ukraine War.
Chapter 13, the key raw materials and key suppliers, and industry chain of Articulating Knuckle Boom Cranes.
Chapter 14 and 15, to describe Articulating Knuckle Boom Cranes sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on Articulating Knuckle Boom Cranes. Industry analysis & Market Report on Articulating Knuckle Boom Cranes is a syndicated market report, published as Global Articulating Knuckle Boom Cranes Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029. It is complete Research Study and Industry Analysis of Articulating Knuckle Boom Cranes market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.