Hoists and Cranes

Global Hoists and Cranes Market to Reach US$39.2 Billion by 2030

The global market for Hoists and Cranes estimated at US$29.9 Billion in the year 2024, is expected to reach US$39.2 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2024-2030. Mobile, one of the segments analyzed in the report, is expected to record a 5.2% CAGR and reach US$24.9 Billion by the end of the analysis period. Growth in the Fixed segment is estimated at 3.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.6 Billion While China is Forecast to Grow at 6.8% CAGR

The Hoists and Cranes market in the U.S. is estimated at US$6.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.1% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.0% CAGR.

Global Hoists and Cranes Market - Key Trends & Drivers Summarized

Hoists and cranes are integral to various industries, providing essential lifting and material handling solutions. Hoists, designed to lift and lower loads, come in various types such as manual, electric, and pneumatic, each suited for different applications. Manual hoists are often used for lighter loads and in situations where precision is required. Electric hoists, which are more common in industrial settings, offer higher load capacities and greater efficiency. Pneumatic hoists, powered by compressed air, are ideal for explosive or flammable environments where electric sparks must be avoided. Cranes, on the other hand, are larger, more complex machines designed for moving heavy loads horizontally and vertically across distances. Types of cranes include overhead cranes, gantry cranes, jib cranes, and mobile cranes, each with unique features and advantages. Overhead cranes, commonly found in factories and warehouses, provide efficient material handling in confined spaces, while mobile cranes offer versatility and mobility for construction sites.

The technological advancements in hoists and cranes have significantly improved their safety, efficiency, and ease of use. Modern hoists are equipped with advanced features like variable speed controls, overload protection, and remote operation capabilities. These features enhance the precision and safety of lifting operations, reducing the risk of accidents and equipment damage. Similarly, cranes have seen innovations such as automated systems, anti-collision devices, and advanced load monitoring systems. These advancements allow for more precise and safer operations, even in complex and hazardous environments. The integration of IoT (Internet of Things) and AI (Artificial Intelligence) into hoisting and crane systems is another notable trend. IoT-enabled cranes and hoists can be monitored and controlled remotely, providing real-time data on their operation, which helps in predictive maintenance and reduces downtime. AI can optimize load handling operations, improve efficiency, and enhance safety protocols.

The growth in the hoists and cranes market is driven by several factors, reflecting changes in technology, industry demands, and consumer behavior. One major driver is the increasing investment in infrastructure development and construction projects worldwide, necessitating advanced material handling solutions. The expansion of the manufacturing sector, especially in emerging economies, has also boosted demand for efficient and reliable lifting equipment. The trend towards automation and smart factories is another significant factor, as industries seek to enhance productivity and safety through the use of advanced hoists and cranes. Furthermore, the rise in e-commerce and the need for efficient logistics and warehousing solutions have contributed to the market`s growth. Environmental regulations and the push towards sustainability are driving the adoption of energy-efficient and eco-friendly hoisting and crane technologies. Lastly, the growing emphasis on workplace safety and stringent government regulations are compelling industries to invest in modern, safer lifting equipment, further propelling the market`s expansion.

SCOPE OF STUDY:

The report analyzes the Hoists and Cranes market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Mobile, Fixed); Operation Type (Hydraulic, Electric, Other Operation Types); End-Use (Construction, Shipping & Material Handling, Automotive & Railway, Mining, Energy & Power, Aerospace & Defense, Other End-Uses)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 241 Featured) -

• 3M Company
• ABB Ltd.
• ABUS Kransysteme GmbH
• Cargotec Corporation
• Columbus McKinnon Corporation
• Hitachi Industrial Equipment Systems Co., Ltd.
• Ingersoll Rand Inc.
• Kito Corporation
• Konecranes Oyj
• Liebherr Group
• Mitsubishi Electric Automation, Inc.
• Murata Machinery Ltd.
• SANY Group
• Tadano Ltd.
• Terex Corporation
• The Manitowoc Company, Inc.
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
• Zoomlion Heavy Industry Science & Technology Co., Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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