Cranes Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cranes Market
The cranes market size was valued at USD 34.95 billion in 2020, and the market is now projected to grow from USD 36.36 billion in 2021 to USD 49.64 billion by 2028, exhibiting a CAGR of 4.5% during the forecast period of 2021-2028.
The partial or complete lockdowns, due to the COVID-19 occurrence have ensued in a severe breakdown of several manufacturing procedures. Furthermore, shutting of factory happenings and variations in dealer inventories are also positively impacting the worldwide market. Lockdowns have further ensued in the inaccessibility of workers, thus dropping the revenues in enduring residential, commercial, and industrial processes. Additionally, oil & gas, construction, mining, and industrial doings where cranes are of maximum use are affected by the COVID-19 occurrence.
Governments and numerous private segments are severely financing in residential & commercial buildings construction and public infrastructure, thus supporting the development of the market. Rapid urbanization is generating a vast demand to simply transfer materials that weigh more than 500 tons. Furthermore, growing government emphasis on green building improvement is further anticipated to enhance the market progression. Additionally, oil & gas, mining, automotive, and other end-users are also employing cranes in their global transportation process, which, in turn, is generating a progressive impact on the global cranes market growth.
Crane rental service has observed development nearly in all the countries regardless of the financial challenges. Leasing firms are augmenting their service offering to become superior service workers. As a result, producers are also shifting toward leasing or renting preferences on a weekly or monthly basis along with suitable upkeep of the equipment.
Comprehensive Analysis of Cranes Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, by brands and by packaging type. Based on type, the market is classified into mobile, fixed, marine. Based on brands, the market is divided into construction, mining, industrial, oil & gas, others.
Asia Pacific region is dominating the cranes market share due to increasing infrastructure projects.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include SANY GROUP (China), Konecranes (Finland), Manitowoc Company, Inc. (U.S.), Tadano Ltd (Japan), 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), XCMG Group (China), Caterpillar (U.S.), GORBEL INC. (U.S.), Street Crane Company Limited (U.K.), PALFINGER AG (Austria), ZPMC (China), Certex (U.K.), Cargotec (Finland), BUCKNER HEAVYLIFT CRANES, LLC (U.S.), Pelloby Ltd. (U.K.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In June 2021, SANY’s crawler crane SCC1000A is being used by Arab Potash Company in Jordan to prevent the leakage of potassium rich saltwater from the Dead Sea to the main dikes.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Billion)
Segmentation
Product Type, End-User, and Region
By Product Type
Mobile
Fixed
Marine
By End-User
Construction
Mining
Industrial
Oil & Gas
Others
By Region
North America (By Product Type, End-User, and Country)
- U.S. (By End-User)
- Canada (By End-User)
- U.K. (By End-User)
- Germany (By End-User)
- France (By End-User)
- Italy (By End-User)
- Spain (By End-User)
- Rest of Europe (By End-User)
- China (By End-User)
- Japan (By End-User)
- India (By End-User)
- Southeast Asia (By End-User)
- Australia (By End-User)
- Rest of Asia Pacific (By End-User)
- GCC (By End-User)
- South Africa (By End-User)
- Rest of the Middle East & Africa (By End-User)
- Brazil (By End-User)
- Mexico (By End-User)
- Rest of Latin America (By End-User)
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Approach
- 1.3. Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 3.3.1. Short-term Impact
- 3.3.2. Long-term Impact
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Porter’s Five Force Analysis
- 4.4. Global Cranes Market Share Analysis, 2020
- 5. Key Market Insights and Strategic Recommendations
- 6. Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
- 6.1.1. Key Management
- 6.1.2. Headquarters etc.
- 6.2. Offerings/Business Segments
- 6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- 6.3.1. Employee Size
- 6.3.2. Key Financials
- 6.3.2.1. Past and Current Revenue
- 6.3.2.2. Gross Margin
- 6.3.2.3. Geographical Share
- 6.3.2.4. Business Segment Share
- 6.4. Recent Developments
- 7. Primary Interview Responses
- 8. Annexure / Appendix
- 9.
- 9.1. Global Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.1.1. By Product Type (USD Bn)
- 9.1.1.1. Mobile
- 9.1.1.2. Fixed
- 9.1.1.3. Marine
- 9.1.2. By End-user (USD Bn)
- 9.1.2.1. Construction
- 9.1.2.2. Mining
- 9.1.2.3. Industrial
- 9.1.2.4. Oil & Gas
- 9.1.2.5. Others
- 9.1.3. By Region (USD Bn)
- 9.1.3.1. North America
- 9.1.3.2. Europe
- 9.1.3.3. Asia Pacific
- 9.1.3.4. Middle East & Africa
- 9.1.3.5. Latin America
- 9.2. North America Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.2.1. By Product Type (USD Bn)
- 9.2.1.1. Mobile
- 9.2.1.2. Fixed
- 9.2.1.3. Marine
- 9.2.2. By End-user (USD Bn)
- 9.2.2.1. Construction
- 9.2.2.2. Mining
- 9.2.2.3. Industrial
- 9.2.2.4. Oil & Gas
- 9.2.2.5. Others
- 9.2.3. By Country (USD Bn)
- 9.2.3.1. U.S.
- 9.2.3.1.1. By End-user (USD Bn)
- 9.2.3.1.1.1. Construction
- 9.2.3.1.1.2. Mining
- 9.2.3.1.1.3. Industrial
- 9.2.3.1.1.4. Oil & Gas
- 9.2.3.1.1.5. Others
- 9.2.3.2. Canada
- 9.2.3.2.1. By End-user (USD Bn)
- 9.2.3.2.1.1. Construction
- 9.2.3.2.1.2. Mining
- 9.2.3.2.1.3. Industrial
- 9.2.3.2.1.4. Oil & Gas
- 9.2.3.2.1.5. Others
- 9.3. Europe Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.3.1. By Product Type (USD Bn)
- 9.3.1.1. Mobile
- 9.3.1.2. Fixed
- 9.3.1.3. Marine
- 9.3.2. By End-user (USD Bn)
- 9.3.2.1. Construction
- 9.3.2.2. Mining
- 9.3.2.3. Industrial
- 9.3.2.4. Oil & Gas
- 9.3.2.5. Others
- 9.3.3. By Country (USD Bn)
- 9.3.3.1. UK
- 9.3.3.1.1. By End-user (USD Bn)
- 9.3.3.1.1.1. Construction
- 9.3.3.1.1.2. Mining
- 9.3.3.1.1.3. Industrial
- 9.3.3.1.1.4. Oil & Gas
- 9.3.3.1.1.5. Others
- 9.3.3.2. Germany
- 9.3.3.2.1. By End-user (USD Bn)
- 9.3.3.2.1.1. Construction
- 9.3.3.2.1.2. Mining
- 9.3.3.2.1.3. Industrial
- 9.3.3.2.1.4. Oil & Gas
- 9.3.3.2.1.5. Others
- 9.3.3.3. France
- 9.3.3.3.1. By End-user (USD Bn)
- 9.3.3.3.1.1. Construction
- 9.3.3.3.1.2. Mining
- 9.3.3.3.1.3. Industrial
- 9.3.3.3.1.4. Oil & Gas
- 9.3.3.3.1.5. Others
- 9.3.3.4. Italy
- 9.3.3.4.1. By End-user (USD Bn)
- 9.3.3.4.1.1. Construction
- 9.3.3.4.1.2. Mining
- 9.3.3.4.1.3. Industrial
- 9.3.3.4.1.4. Oil & Gas
- 9.3.3.4.1.5. Others
- 9.3.3.5. Spain
- 9.3.3.5.1. By End-user (USD Bn)
- 9.3.3.5.1.1. Construction
- 9.3.3.5.1.2. Mining
- 9.3.3.5.1.3. Industrial
- 9.3.3.5.1.4. Oil & Gas
- 9.3.3.5.1.5. Others
- 9.3.3.6. Rest of Europe
- 9.3.3.6.1. By End-user (USD Bn)
- 9.3.3.6.1.1. Construction
- 9.3.3.6.1.2. Mining
- 9.3.3.6.1.3. Industrial
- 9.3.3.6.1.4. Oil & Gas
- 9.3.3.6.1.5. Others
- 9.4. Asia Pacific Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.4.1. By Product Type (USD Bn)
- 9.4.1.1. Mobile
- 9.4.1.2. Fixed
- 9.4.1.3. Marine
- 9.4.2. By End-user (USD Bn)
- 9.4.2.1. Construction
- 9.4.2.2. Mining
- 9.4.2.3. Industrial
- 9.4.2.4. Oil & Gas
- 9.4.2.5. Others
- 9.4.3. By Country (USD Bn)
- 9.4.3.1. China
- 9.4.3.1.1. By End-user (USD Bn)
- 9.4.3.1.1.1. Construction
- 9.4.3.1.1.2. Mining
- 9.4.3.1.1.3. Industrial
- 9.4.3.1.1.4. Oil & Gas
- 9.4.3.1.1.5. Others
- 9.4.3.2. Japan
- 9.4.3.2.1. By End-user (USD Bn)
- 9.4.3.2.1.1. Construction
- 9.4.3.2.1.2. Mining
- 9.4.3.2.1.3. Industrial
- 9.4.3.2.1.4. Oil & Gas
- 9.4.3.2.1.5. Others
- 9.4.3.3. India
- 9.4.3.3.1. By End-user (USD Bn)
- 9.4.3.3.1.1. Construction
- 9.4.3.3.1.2. Mining
- 9.4.3.3.1.3. Industrial
- 9.4.3.3.1.4. Oil & Gas
- 9.4.3.3.1.5. Others
- 9.4.3.4. Australia
- 9.4.3.4.1. By End-user (USD Bn)
- 9.4.3.4.1.1. Construction
- 9.4.3.4.1.2. Mining
- 9.4.3.4.1.3. Industrial
- 9.4.3.4.1.4. Oil & Gas
- 9.4.3.4.1.5. Others
- 9.4.3.5. Southeast Asia
- 9.4.3.5.1. By End-user (USD Bn)
- 9.4.3.5.1.1. Construction
- 9.4.3.5.1.2. Mining
- 9.4.3.5.1.3. Industrial
- 9.4.3.5.1.4. Oil & Gas
- 9.4.3.5.1.5. Others
- 9.4.3.6. Rest of Asia Pacific
- 9.4.3.6.1. By End-user (USD Bn)
- 9.4.3.6.1.1. Construction
- 9.4.3.6.1.2. Mining
- 9.4.3.6.1.3. Industrial
- 9.4.3.6.1.4. Oil & Gas
- 9.4.3.6.1.5. Others
- 9.5. Middle East & Africa Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.5.1. By Product Type (USD Bn)
- 9.5.1.1. Mobile
- 9.5.1.2. Fixed
- 9.5.1.3. Marine
- 9.5.2. By End-user (USD Bn)
- 9.5.2.1. Construction
- 9.5.2.2. Mining
- 9.5.2.3. Industrial
- 9.5.2.4. Oil & Gas
- 9.5.2.5. Others
- 9.5.3. By Country (USD Bn)
- 9.5.3.1. GCC
- 9.5.3.1.1. By End-user (USD Bn)
- 9.5.3.1.1.1. Construction
- 9.5.3.1.1.2. Mining
- 9.5.3.1.1.3. Industrial
- 9.5.3.1.1.4. Oil & Gas
- 9.5.3.1.1.5. Others
- 9.5.3.2. South Africa
- 9.5.3.2.1. By End-user (USD Bn)
- 9.5.3.2.1.1. Construction
- 9.5.3.2.1.2. Mining
- 9.5.3.2.1.3. Industrial
- 9.5.3.2.1.4. Oil & Gas
- 9.5.3.2.1.5. Others
- 9.5.3.3. Rest of Middle East & Africa
- 9.5.3.3.1. By End-user (USD Bn)
- 9.5.3.3.1.1. Construction
- 9.5.3.3.1.2. Mining
- 9.5.3.3.1.3. Industrial
- 9.5.3.3.1.4. Oil & Gas
- 9.5.3.3.1.5. Others
- 9.6. Latin America Cranes Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- 9.6.1. By Product Type (USD Bn)
- 9.6.1.1. Mobile
- 9.6.1.2. Fixed
- 9.6.1.3. Marine
- 9.6.2. By End-user (USD Bn)
- 9.6.2.1. Construction
- 9.6.2.2. Mining
- 9.6.2.3. Industrial
- 9.6.2.4. Oil & Gas
- 9.6.2.5. Others
- 9.6.3. By Country (USD Bn)
- 9.6.3.1. Brazil
- 9.6.3.1.1. By End-user (USD Bn)
- 9.6.3.1.1.1. Construction
- 9.6.3.1.1.2. Mining
- 9.6.3.1.1.3. Industrial
- 9.6.3.1.1.4. Oil & Gas
- 9.6.3.1.1.5. Others
- 9.6.3.2. Mexico
- 9.6.3.2.1. By End-user (USD Bn)
- 9.6.3.2.1.1. Construction
- 9.6.3.2.1.2. Mining
- 9.6.3.2.1.3. Industrial
- 9.6.3.2.1.4. Oil & Gas
- 9.6.3.2.1.5. Others
- 9.6.3.3. Rest of Latin America
- 9.6.3.3.1. By End-user (USD Bn)
- 9.6.3.3.1.1. Construction
- 9.6.3.3.1.2. Mining
- 9.6.3.3.1.3. Industrial
- 9.6.3.3.1.4. Oil & Gas
- 9.6.3.3.1.5. Others
- 10. List of some of the companies (to name a few and not limited to) considered in the scope for understanding the market ecosystem/USD Bn chain.
- 11. (Note that the purpose of the below list is to highlight the exhaustiveness of coverage. This does not necessarily mean that all the below companies would be profile in the scope. However, at the same, we are open to profile additional company(s) on specific request)
- 12. SANY GROUP
- 13. Konecranes
- 14. Manitowoc Company, Inc.
- 15. Tadano Ltd
- 16. Komatsu Ltd
- 17. Terex Corporation
- 18. Liebherr Group
- 19. Hitachi Construction Machinery Europe NV
- 20. Demag Cranes & Components GmbH
- 21. Zoomlion Heavy Industry Science and Technology Co., Ltd
- 22. XCMG Group
- 23. Caterpillar
- 24. GORBEL INC.
- 25. Street Crane Company Limited
- 26. PALFINGER AG
- 27. ZPMC
- 28. Certex
- 29. Cargotec
- 30. BUCKNER HEAVYLIFT CRANES, LLC
- 31. Pelloby Ltd.
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