Global Cranes Market Size: USD 38.69 Million in 2024, Projected to Reach USD 58.99 Million by 2033, Growing at a CAGR of 4.8%
The global cranes market is poised for growth in the coming years. Valued at USD 38.69 million in 2024, the market is projected to expand from USD 40.54 million in 2025 to USD 58.99 million by 2033, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2025 to 2033. This growth is driven by the increasing demand for cranes in various industries such as construction, logistics, and heavy industries, along with advancements in crane technology and the growing infrastructure development across the globe.
Market Definition
A crane is a type of machine used for lifting and lowering heavy loads. It is used in industries such as construction, manufacturing, and logistics. Cranes are classified based on their design, mobility, and type of load handling. The global cranes market includes a wide range of crane types, including mobile cranes, tower cranes, and overhead cranes, used in various applications such as construction, infrastructure projects, shipbuilding, and more.
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Market Segmentation
The cranes market is segmented based on the following criteria:
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By Type
- Mobile Cranes
- Tower Cranes
- Overhead Cranes
- Crawler Cranes
- Truck-mounted Cranes
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By End-User
- Construction
- Manufacturing
- Logistics and Transportation
- Mining
- Shipbuilding
- Others
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By Capacity
- Less than 50 Tons
- 50-100 Tons
- 100-200 Tons
- More than 200 Tons
-
By Power Source
- Electric
- Diesel
- Hybrid
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Table of Contents (TOC)
- Executive Summary
- Market Overview
- Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities - Market Segmentation
4.1 By Type
4.2 By End-User
4.3 By Capacity
4.4 By Power Source - Competitive Landscape
- Regional Analysis
- Company Profiles
- Conclusion
Scope of the Cranes Market
The scope of the cranes market includes:
- The market covers various crane types, including mobile cranes, tower cranes, overhead cranes, and others.
- The scope includes a detailed analysis of end-users, such as construction, manufacturing, logistics, and mining industries.
- It also covers market segmentation by crane capacity, from small-scale cranes to large cranes capable of lifting more than 200 tons.
- The report provides insights into power source types used in cranes, including electric, diesel, and hybrid power solutions.
- The geographical scope spans key regions such as Asia-Pacific, Europe, North America, and others, with detailed regional analysis.
Key Players in the Cranes Market
The major players operating in the global cranes market include:
- Liebherr Group
- Terex Corporation
- Manitowoc Company, Inc.
- SANY Group
- Konecranes PLC
- Cargotec Corporation (Kalmar)
- XCMG Construction Machinery Co., Ltd.
- Tadano Ltd.
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- Kobelco Cranes Co., Ltd.
Dominated Region: Asia-Pacific
The Asia-Pacific region dominates the global cranes market due to rapid infrastructure development and growth in construction and manufacturing activities. Countries like China, India, Japan, and South Korea are major contributors to the demand for cranes, driven by the growing industrial sector and large-scale construction projects.
Fastest Growing Region: Europe
Europe is the fastest-growing region in the cranes market. This is attributed to significant investments in construction, mining, and infrastructure projects. The demand for cranes in the region is also driven by technological advancements and the growing need for efficient lifting equipment in industries such as logistics, manufacturing, and shipbuilding.
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