How big is the Crane Market?

The Crane Market size is expected to reach USD 42.64 billion in 2024 and grow at a CAGR of 6.26% to reach USD 57.76 billion by 2029. Read More

What is the current Crane Market size?

In 2024, the Crane Market size is expected to reach USD 42.64 billion. Read More

Who are the key players in Crane Market?

Sany heavy Industry Co. Ltd. , Xuzhou Construction Machinery Group Co., Ltd, Zoomlion Heavy Industry Science and Technology Co., Ltd, Konecranes Oyj and Liebherr Group are the major companies operating in the Crane Market. Read More

Which is the fastest growing region in Crane Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Crane Market?

In 2024, the Asia-Pacific accounts for the largest market share in Crane Market. Read More

What years does this Crane Market cover, and what was the market size in 2023?

In 2023, the Crane Market size was estimated at USD 40.13 billion. The report covers the Crane Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Crane Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges facing the Crane Market?

The key challenges faced by the Crane Industry are: a) High initial investment costs b) Maintenance expenses c) Need for skilled operators d) Safety concerns e) Regulatory compliance add to the operational complexity Read More

Crane Market - Size, Share, Trends & Growth

Crane Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

The Crane Market Report is Segmented by Type (Mobile Crane, Fixed Crane, and Marine and Off-shore Crane), Application Type (Construction and Mining, Marine and Offshore, and Industrial Applications), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market size and forecast in value (USD billion) for all the above segments.

Crane Industry Overview

The crane market is highly consolidated and dominated by a few major players. Some of the leading players in the market studied are Manitowoc, Tadano, Kobelco, Cargotec, Kone Cranes, Liebherr, SANY Global, Palfinger, Zoomlion, and XCMG.

These players have successfully capitalized on the significant demand for reliable cranes from key players in the construction, mining, and industrial sectors.

The major players in the region are spending heavily on the research and development of new products and delivering cranes globally. They also focus on growth strategies, such as new product launches and securing major orders to strengthen their positions.

October 2022: Terex Cranes introduced CTT 222-10 Flat Top Tower Crane. To maintain safety, the adjustable slewing seat and integrated heating and cooling system keep operators comfortable, productive, and focused on their work. The maximum capacity of this model is 10 ton, the maximum jib length is 65 m, and the maximum free-standing height (C25) is 54.35 m, 72.95 m, and 67.85 m.
October 2022: Zoomlion Heavy Industry Science & Technology Co., Ltd. launched R-generation tower cranes specifically developed for the European market at BAUMA 2022.
May 2022: Tadano Demag Cranes GmbH secured the biggest order from Expertise Contracting Company of Saudi Arabia for 79 Demag AC cranes.