The crane market refers to the global industry involved in the design, manufacturing, distribution, sales, and maintenance of cranes, which are heavy machinery used primarily for lifting and moving heavy loads in various applications. These applications include construction, industrial operations, shipping and port activities, mining, oil and gas exploration, and manufacturing. The market encompasses various types of cranes, such as mobile cranes, tower cranes, loader cranes, overhead cranes, and gantry cranes, each designed for specific tasks and environments. The crane market is driven by factors such as infrastructure development, urbanization, technological advancements, and the need for efficient material handling solutions across different sectors.
Major Key Players Mentioned in this Premium Report
- Manitowoc (USA)
- Terex Corporation (USA)
- Liebherr Group (Switzerland)
- Tadano Ltd. (Japan)
- XCMG Group (China)
- Konecranes (Finland)
- Cargotec Corporation (Finland)
- Sany Group (China)
- Kobelco Construction Machinery Co., Ltd. (Japan)
- Palfinger AG (Austria)
- Komatsu Ltd. (Japan)
- SENNEBOGEN Maschinenfabrik GmbH (Germany)
- TIDD Crane & Rigging (USA)
- Link-Belt Cranes (USA)
- Kobelco Cranes Co., Ltd. (Japan)
- Broderson Manufacturing Corp. (USA)
- Jekko s.r.l. (Italy)
- Fassi Gru S.p.A. (Italy)
- National Oilwell Varco (USA)
- Shanghai Zhenhua Heavy Industries Co., Ltd. (China)
- KATO Works Co., Ltd. (Japan)
- Bonfiglioli Group (Italy)
- Elliott Equipment Company (USA)
- Demag Cranes & Components GmbH (Germany)
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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
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)
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The largest market region in the cranes industry is Asia Pacific. Asia Pacific is a significant contributor to the global cranes market due to several factors. The region is experiencing rapid urbanization and infrastructure development, leading to a high demand for construction and material handling equipment, including cranes. Countries like China, India, Japan, and South Korea have witnessed substantial investments in infrastructure projects, such as roads, bridges, airports, and residential and commercial buildings. These projects require the use of cranes for efficient lifting and movement of heavy materials. Additionally, the manufacturing sector in Asia Pacific is expanding, driven by the growth of industries such as automotive, electronics, and consumer goods.
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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