Crane Market Size Was Valued at USD 38611 Million in 2022, and is Projected to Reach USD 57704 Million by 2030, Growing at a CAGR of 5.78% From 2023-2030.
Cranes are heavy-lifting and object-moving equipment. In the manufacturing, shipping, and construction sectors, they are indispensable. Cranes come in a wide variety, each intended for a particular use. Tower, overhead, and mobile cranes are a few popular varieties of cranes. Mounted atop vehicles, mobile cranes are movable to various sites. Tall, stationary cranes like tower cranes are frequently utilized in building projects. In factories and structures, overhead cranes are suspended from the ceiling. Cranes are vital equipment in many contemporary businesses. They make it possible for employees to move big things effectively and safely. Many construction projects would not be possible without cranes.
The energy industry is also a major factor in the market expansion for cranes. The construction of renewable energy projects, such solar and wind farms, necessitates the use of specialist cranes for equipment maintenance and installation. In addition, the oil and gas sector uses cranes extensively for activities like material transportation and the lifting of large apparatus for both onshore and offshore operations. Crane demand is predicted to be strong as traditional energy industries continue to change and the world’s attention shifts toward renewable energy.
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Cranes Market Competitive Landscape
The global cranes market features a highly competitive landscape with the presence of several key players. Some of the prominent players in the market focus on product innovation and quality advancements to gain a competitive edge. They invest significantly in research and development to introduce new features and functionalities in their infrastructure solutions. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by these players to expand their market presence and enhance their product portfolios. With the growing demand for infrastructure and urbanization, the competition among these players intensifies, leading to continuous advancements and improvements in the market offerings.
Learn more about key segments shaping this market
- Mobile Cranes
- Fixed Cranes
- Marine and Offshore Cranes
By Operation
- Hydraulic
- Electric
- Hybrid
By Application
- Construction & Infrastructure
- Mining and Excavation
- Marine and Offshore
- Industrial Applications
Regional Insights for the Crane Market: Asia Pacific is Anticipated to Lead the Market For the duration of the forecast
With China and India in the forefront, the Asia-Pacific area continues to be the biggest market for cranes of all kinds. China has emerged as the world’s largest manufacturer of cranes and represents the greatest segment of the industry under study. The primary trends that are influencing the Chinese market are low emissions and fuel economy. The two main industries driving the need for cranes are the building of infrastructure and the real estate market. Crane demand in India is mostly driven by infrastructure projects, particularly those involving elevated road corridors, power projects, metro rail, bridges, and other structures.
Geographic Coverage
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Market Scope of Crane Market
| Report Attribute | Key Statistics |
| Base Year | 2023 |
| Forecast Years | 2024-2032 |
| Historical Years | 2017-2023 |
| Market Size in 2022 | US$ 38611 Million |
| Market Forecast in 2030 | US$ 57704 Million |
| Market Growth Rate 2023-2030 | 5.78% |
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