A Global Crane and Hoist Market Size study & Forecast, by Type (Mobile, Fixed), by Operation (Hydraulic, Electric, Hybrid), by Industry (Construction, Shipping & Material Handling

Global Crane and Hoist Market Size study & Forecast, by Type (Mobile, Fixed), by Operation (Hydraulic, Electric, Hybrid), by Industry (Construction, Shipping & Material Handling, Automotive & Railway, Aerospace & Defense, Energy & Power, Mining, Others) and Regional Analysis, 2023-2030

Global Crane and Hoist Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Crane and hoist are essential mechanical equipment designed to lift and move heavy loads, playing a crucial role in various industries and construction projects. A crane is a complex machine equipped with cables, pulleys, and a hoist, allowing for the vertical and horizontal movement of loads. The hoist is the component responsible for lifting and lowering the load, typically using a drum or a lift wheel with a chain or wire rope. The key factors driving the market are rising investment in infrastructure projects, growing mining industry, expansion of manufacturing and industrial sectors, and growing oil and gas exploration activity that is anticipated to support the market growth.

Additionally, the growth of the construction industry plays a crucial role in supporting the expansion of the Crane and Hoist Market. As rising invest in infrastructure development, such as roads, bridges, airports, and energy facilities, the demand for construction machinery, including cranes and hoists, increases. These machines are essential for lifting and moving heavy materials and equipment during construction projects. According to Statista, in 2020, the global construction industry was valued at USD 6.4 trillion; in 2022 the number reached USD 8.2 trillion, and it is anticipated to reach USD 10.3 trillion by 2025. As a result, the growing construction industry is anticipated to support the market growth. Moreover, growing urbanization, and continuous advancements in crane and hoist technology, such as the development of more efficient and versatile machines are anticipated to create lucrative opportunities for the market over the forecast period. However, the high cost of manufacturing and maintenance stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Crane and Hoist Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising demand from the automotive and construction industries, the growing energy & power industry, and increasing investments in renewable energy generation. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the growing investment in infrastructure development, increasing construction projects, and growing demand in the mining, and oil and gas industries.

Major market player included in this report are:
Tadano Ltd. (Japan)
The Manitowoc Company, Inc. (US)
Zoomlion Heavy Industry Science & Technology Co., Ltd. (China)
Terex Corporation (US)
PALFINGER AG (Austria)
Columbus McKinnon Corporation (US)
KOBE STEEL, LTD. (Japan)
XCMG Group (China)
Sumitomo Heavy Industries, Ltd. (Japan)
ABUS Kransysteme GmbH (Germany)

Recent Developments in the Market:
 In October 2023, Potain, a brand under The Manitowoc Company, Inc., introduced the Evy 30-23, a 4-ton self-erecting crane. This innovative generation of self-erecting cranes addresses customer input, providing enhanced simplicity, greater lifting height, and compliance with the revised European Safety Standard EN 14439 for tower cranes.

Global Crane and Hoist Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Operation, Industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Mobile
Fixed

By Operation:
Hydraulic
Electric
Hybrid

By Industry:
Construction
Shipping & Material Handling
Automotive & Railway
Aerospace & Defense
Energy & Power
Mining
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Tadano Ltd. (Japan)
The Manitowoc Company, Inc. (US)
Zoomlion Heavy Industry Science & Technology Co., Ltd. (China)
Terex Corporation (US)
PALFINGER AG (Austria)
Columbus McKinnon Corporation (US)
KOBE STEEL, LTD. (Japan)
XCMG Group (China)
Sumitomo Heavy Industries, Ltd. (Japan)
ABUS Kransysteme GmbH (Germany)

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