The Cranes Market size was estimated at USD 44.0 Billion in 2022 and is expected to reach USD 67.3 Billion by 2030 at a CAGR of 4.5% during the forecast period of 2023-2030.
The global cranes market is experiencing robust growth driven by rising investments in infrastructure development, urbanization, and industrial expansion across both emerging and developed economies. Cranes are essential for heavy lifting, transportation, and positioning in construction, mining, and maritime sectors, where they facilitate complex operations that are difficult to perform manually. With advancements in crane technology, modern cranes now offer enhanced load-bearing capacities, improved fuel efficiency, and greater operational safety, making them indispensable in high-demand sectors. The market is also witnessing increased demand for mobile cranes due to their versatility and ability to navigate challenging terrains, particularly in construction and oil & gas industries.
Environmental considerations are shaping the cranes market as manufacturers strive to reduce emissions and improve energy efficiency. The adoption of electric and hybrid cranes has gained traction as governments worldwide implement stringent emissions regulations. Asia-Pacific, particularly China and India, represents a significant portion of the market due to accelerated infrastructure projects and industrialization efforts. Europe and North America are also adopting advanced, eco-friendly cranes in line with regulatory requirements and sustainability goals. Furthermore, the integration of automation, IoT, and telematics in crane systems has streamlined monitoring and maintenance, enabling remote operation and predictive maintenance, which reduce downtime and operational costs.
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Covid 19 impact analysis:
The latest report is the most recent study that offers coverage of the Cranes industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Cranes market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
SANY GROUP (China), Konecranes (Finland), Manitowoc Company, Inc. (U.S.), Tadano Ltd (apan), Komatsu Ltd (Japan), Terex Corporation (U.S.), Liebherr Group (Germany), Hitachi Construction Machinery Europe NV (Netherlands), Demag Cranes & Components GmbH (Germany), Zoomlion Heavy Industry Science and Technology Co., Ltd (China), and others
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Cranes market.
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It has segmented the global Cranes market
By Product Type
- Mobile
- Fixed
- Marine
By End-User
- Construction
- Mining
- Industrial
- Oil & Gas
- Others
Key Objectives of the Global Cranes Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Cranes
- The report marks the notable developments that have recently taken place in the Cranes industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Cranes market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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