Crane Market Size, Share, Growth & Industry Trends [2032]
Crane Market Size, Share, Growth & Industry Trends [2032]
Segments - Crane Market by Type (Mobile Cranes, Marine & Port Cranes, and Fixed Cranes), Application (Construction & Infrastructure, Mining, Oil & Gas, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024 – 2032
Upcoming
| Report ID :CM-6616
| 4.8 Rating
| 55 Reviews
| 231 Pages
| Format :
Report Description
The global crane market size was USD 45.8 Billion in 2023 and is likely to reach USD 70.4 Billion by 2032, expanding at a CAGR of 4.9% during 2024–2032. The market growth is attributed to the increasing development of infrastructure.
Cranes are huge machines used to transport the material loads, ship building, manufacturing, and in construction sectors. Manufacturers are developing portable cranes for increasing establishments for smart factories. For instance,
-
In May 2021, Zoomlion Heavy Industry Science & Technology Co., Ltd., a China-based company started a smart tower crane plant located on Changde City.
The cranes are used to lift as well as lower down the materials, and move the material horizontally. It has an expandable arm which extend to certain height. The tower cranes are usually used in the skyscraper constructions whereas, the mobile cranes are versatile and used for short-term projects.
Crane Market Dynamics
Major Drivers
Increasing development of infrastructure globally, is propelling the market significantly. The increasing applications of these cranes in building construction, civic infrastructure, and marine & seaport is expected to drive the global market during the projection period. Additionally, the increasing investments in the construction and infrastructure by the government is boosting the market.
Existing Restraints
Increasing investments and high initial cost for buying and maintaining the machine is hampering the market. Furthermore, the lack of safety measures is restraining the market. Safety standards such as International Organization for Standardization (ISO) and Occupational Safety and Health Administration (OSHA) is enacted by government bodies for workers safety.
Emerging Opportunities
Increasing technological advancements and innovations in the machine designing is expected to offer growing opportunities to the market. Furthermore, the expansion of new manufacturing units in emerging economies is offering significant opportunities driving the industrial expansion in the coming years.
Scope of the Crane Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Crane Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2023 |
|
Historic Data |
2017–2022 |
|
Forecast Period |
2024–2032 |
|
Segmentation |
Type (Mobile Cranes, Marine & Port Cranes, and Fixed Cranes), Application (Construction & Infrastructure, Mining, Oil & Gas, and Others) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Cargotec Oyj, Tadano Ltd.; Kato; Kobelco; Liebherr Group; Sany Group; Tadano Ltd.; Terex Corporation; The Manitowoc Company; XCMG Construction Machinery Co. Ltd.; and Zoomlion Heavy Industry Science & Technology Co., Ltd. |
Market Segment Insights
Regional Analysis
In terms of region, the global crane market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominates the global market in 2023 owing to increasing investments in the developments of building and infrastructure. The rise in construction activities and labor employment is fueling the regional market. For instance,
-
In July 2022, The Indian government allocated INR 10 lakh crore (USD 130.7 billion) in the Union budget 2023-2024 to propel the development of integrated infrastructures such as multi-modal logistics hubs and ports in the country.
The market in Europe is projected to grow at a significant pace in the years to come owing to increasing development of infrastructure. Increasing investments in the smart cranes and technology updating in the region is boosting the market in Europe. For instance,
-
In July 2021, Strabag, an Austrian company invested in the installation of Manitowoc’s Potain MDT 809 tower crane for construction in Germany. The crane has a capacity of 40 t and 80 t of jib.
Segment Analysis
Type Segment Analysis
Based on type, the crane market is divided into mobile cranes, marine & port cranes, and fixed cranes. The mobile cranes segment held the largest share in the global market in 2023 owing to increasing demand for the truck mounted hoist. The mobile cranes have a large specificity and are easily be taken from one place to another, boosting the segment.
The fixed cranes segment is anticipated to grow at a substantial CAGR during the forecast period due to its high stability. Moreover, the cost effectiveness of these cranes is fueling the segment.
Application Segment Analysis
On the basis of application, the global market is segregated into construction & infrastructure, mining, oil & gas, and others. The construction segment is anticipated to register a considerable CAGR in over the predicted period due to the expansion of real estate projects and other commercial projects. The crane helps in lifting heavier material and transfer the materials from one place to another which are absolutely impossible by the human.
The mining segment is projected to register a robust growth rate during the assessment years increasing demand for energy consumption. The large demand for coal, natural gas, and uranium-essential materials, are driving the segment. Additionally, the shift towards Electric Vehicle is rising the demand for metals such as lithium, cobalt, and nickel, driving the segment.
Segments
The crane market has been segmented on the basis of
Type
- Mobile Cranes
- Marine & Port Cranes,
- Fixed Cranes
Application
- Construction & Infrastructure
- Mining
- Oil & Gas
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Cargotec Oyj, Tadano Ltd.
- Kato
- Kobelco
- Liebherr Group
- Sany Group
- Tadano Ltd.
- Terex Corporation
- The Manitowoc Company
- XCMG Construction Machinery Co. Ltd.
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
Competitive Landscape
Key players competing in the global crane market are Cargotec Oyj, Tadano Ltd.; Kato; Kobelco; Liebherr Group; Sany Group; Tadano Ltd.; Terex Corporation; The Manitowoc Company; XCMG Construction Machinery Co. Ltd.; and Zoomlion Heavy Industry Science & Technology Co., Ltd.
These players utilize several development strategies, such as product launches and acquisitions, to boost their global presence. For instance,
-
April 2022: Tadano Limited announced that it is developing the world's first electric all-terrain as a part of its initiative to meet its carbon neutrality goals of achieving a 25% reduction in carbon emissions from product use by 2030. The crane is expected to be launched by late 2023.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Crane Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Crane Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Crane Market - Supply Chain
4.5. Global Crane Market Forecast
4.5.1. Crane Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Crane Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Crane Market Absolute $ Opportunity
5. Global Crane Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Crane Market Size and Volume Forecast by Types
5.3.1. Mobile Cranes
5.3.2. Marine & Port Cranes,
5.3.3. Fixed Cranes
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Crane Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Crane Market Size and Volume Forecast by Applications
6.3.1. Construction & Infrastructure
6.3.2. Mining
6.3.3. Oil & Gas
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Crane Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Crane Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Crane Demand Share Forecast, 2019-2026
8. North America Crane Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Crane Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Crane Market Size and Volume Forecast by Types
8.4.1. Mobile Cranes
8.4.2. Marine & Port Cranes,
8.4.3. Fixed Cranes
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Crane Market Size and Volume Forecast by Applications
8.7.1. Construction & Infrastructure
8.7.2. Mining
8.7.3. Oil & Gas
8.7.4. Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Crane Demand Share Forecast, 2019-2026
9. Latin America Crane Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Crane Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Crane Market Size and Volume Forecast by Types
9.4.1. Mobile Cranes
9.4.2. Marine & Port Cranes,
9.4.3. Fixed Cranes
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Crane Market Size and Volume Forecast by Applications
9.7.1. Construction & Infrastructure
9.7.2. Mining
9.7.3. Oil & Gas
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Crane Demand Share Forecast, 2019-2026
10. Europe Crane Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Crane Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Crane Market Size and Volume Forecast by Types
10.4.1. Mobile Cranes
10.4.2. Marine & Port Cranes,
10.4.3. Fixed Cranes
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Crane Market Size and Volume Forecast by Applications
10.7.1. Construction & Infrastructure
10.7.2. Mining
10.7.3. Oil & Gas
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Crane Demand Share Forecast, 2019-2026
11. Asia Pacific Crane Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Crane Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Crane Market Size and Volume Forecast by Types
11.4.1. Mobile Cranes
11.4.2. Marine & Port Cranes,
11.4.3. Fixed Cranes
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Crane Market Size and Volume Forecast by Applications
11.7.1. Construction & Infrastructure
11.7.2. Mining
11.7.3. Oil & Gas
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Crane Demand Share Forecast, 2019-2026
12. Middle East & Africa Crane Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Crane Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Crane Market Size and Volume Forecast by Types
12.4.1. Mobile Cranes
12.4.2. Marine & Port Cranes,
12.4.3. Fixed Cranes
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Crane Market Size and Volume Forecast by Applications
12.7.1. Construction & Infrastructure
12.7.2. Mining
12.7.3. Oil & Gas
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Crane Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Crane Market: Market Share Analysis
13.2. Crane Distributors and Customers
13.3. Crane Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Cargotec Oyj, Tadano Ltd.
13.4.2. Kato
13.4.3. Kobelco
13.4.4. Liebherr Group
13.4.5. Sany Group
13.4.6. Tadano Ltd.
13.4.7. Terex Corporation
13.4.8. The Manitowoc Company
13.4.9. XCMG Construction Machinery Co. Ltd.
13.4.10. Zoomlion Heavy Industry Science & Technology Co., Ltd.
Methodology
Related Reports
Some other reports from this category!
Our Clients
