Us Articulating Knuckle Boom Cranes Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Articulating Knuckle Boom Cranes Market was valued at USD 3.2 Billion in 2022 and is projected to reach USD 5.5 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
The U.S. articulating knuckle boom cranes market is experiencing significant growth, driven by advancements in technology and increasing demand across various industries. These cranes, known for their unique ability to fold at the 'knuckle' joint, offer enhanced maneuverability and efficiency, making them indispensable in sectors such as construction, energy, and marine operations.
In 2023, the market size surpassed USD 1.34 billion and is projected to exceed USD 2 billion by 2032, with a compound annual growth rate (CAGR) of over 4.2% between 2024 and 2032. This growth is largely attributed to the rising awareness of the benefits these cranes offer, including higher payloads, greater reach, and the capability to operate in confined spaces.
Technological innovations have played a pivotal role in this market expansion. For instance, Palfinger's TEC series features a patented tear-drop P-Profile boom, enhancing load stability and reducing weight. Additionally, the integration of intelligent assistance systems, such as the P-Fold assistance system and Leveling Assistant, allows for quick setup and precise operations, thereby improving overall productivity.
The versatility of articulating knuckle boom cranes has led to their widespread adoption in various applications. In the construction industry, they are utilized for material handling and placement in tight spaces. The energy sector employs these cranes for maintenance and installation tasks, particularly in renewable energy projects like wind and solar power. The marine industry benefits from their compact design, which minimizes deck space usage on vessels.
Despite the promising growth, the market faces challenges, including high initial investment and maintenance costs. Additionally, stringent regulatory standards necessitate compliance, which can impact production and operational efficiency. However, the ongoing emphasis on workplace safety and the expansion of the renewable energy sector present lucrative opportunities for market players.
Leading companies in this market include Palfinger AG, Fassi Gru S.p.A., Hiab, Terex Corporation, and Manitex International, Inc. These industry leaders are continually innovating to meet the evolving demands of the market, ensuring enhanced performance, safety, and reliability of their products.
In summary, the U.S. articulating knuckle boom cranes market is on an upward trajectory, fueled by technological advancements and increasing applications across diverse industries. As companies continue to invest in modernizing their equipment and expanding their operations, the demand for these versatile cranes is expected to rise, solidifying their position as a critical asset in material handling and lifting solutions.
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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
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Articulating Knuckle Boom Cranes Market
Construction
Marine and Logistics
Aerospace and Defense
Telecommunications
Utility Service Providers
Up to 10 Tons
10 to 20 Tons
20 to 30 Tons
30 to 50 Tons
Above 50 Tons
Hydraulic
Electric
Diesel
Hybrid
Truck-Mounted
Trailer-Mounted
Fixed Installation
Self-Propelled
Construction Companies
Shipping and Logistics Firms
Utility Companies
Government and Municipal Services
Private Sector Contractors
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Articulating Knuckle Boom Cranes Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Articulating Knuckle Boom Cranes Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Articulating Knuckle Boom Cranes Market, By Type
6. Global Articulating Knuckle Boom Cranes Market, By Application
7. Global Articulating Knuckle Boom Cranes Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Articulating Knuckle Boom Cranes Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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