Articulating Knuckle Boom Cranes Market size is estimated to be USD 1.25 Billion in 2024 and is expected to reach USD 1.85 Billion by 2033 at a CAGR of 5.2% from 2026 to 2033.
The global Articulating Knuckle Boom Cranes market was valued at approximately USD 1.5 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% from 2023 to 2030. The increasing demand for efficient lifting solutions across industries such as construction, logistics, and offshore oil and gas operations is driving this market growth. Europe and North America are currently the largest markets, contributing significant revenue shares due to the high adoption of advanced crane technologies. The market in North America alone is expected to reach around USD 650 million by the end of 2025, while Europe is poised to expand at a CAGR of 5.2% during the forecast period, owing to infrastructure development and ongoing construction activities. Additionally, the Asia Pacific region, particularly China and India, is witnessing rapid growth in demand, with the market size anticipated to cross USD 450 million by 2027 due to expanding industrial applications and increasing investments in construction and logistics sectors.
In terms of regional breakdown, the demand for Articulating Knuckle Boom Cranes is also seeing a significant rise in the Middle East and Africa, where infrastructure projects in urban development and energy sectors are boosting the market growth. The market in these regions is expected to grow at a CAGR of 6.1%, reaching USD 300 million by 2028. The Latin American market, although comparatively smaller, is gradually increasing, driven by the development of transportation and construction sectors in countries like Brazil and Mexico. This regional diversification suggests emerging opportunities for market players, as various geographical regions are experiencing growth at different paces based on local industrial needs and advancements in technology.
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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. 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
US (United States, US 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
US
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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