The global cranes market was valued at $35,035.3 million in 2020, and is projected to reach $52,675.5 million by 2032, registering a CAGR of 3.2% from 2023 to 2032.Crane is a mechanical device equipped with wire ropes or chains, hoist ropes, and sheeves, which can be utilized for material handling applications in industries and construction sites. Cranes can lift and transport heavy material in enclosed and open sites and find applications in automotive, oil & gas, construction, marine, shipbuilding, and various other industries. Furthermore, they are majorly distinguished on the basis of their mobility feature. Static cranes include tower cranes, overhead travelling cranes, girder cranes, bridge cranes, and others, whereas mobile cranes are characterized according to their movement mechanism that include crawler cranes and wheeled cranes.
Although the infrastructure industry has witnessed a major downturn in the developed countries, such as the U.S. and the UK, the developing countries exhibit high growth potential in the construction industry. The tight fiscal conditions and lack of government funding have been overcome by the increase in focus on public-private partnerships (PPPs). PPPs have been implemented in various countries such as South Korea and India. Increase in PPPs and surge in investments through private channels can assist in boosting the infrastructure industry, thereby driving the growth of the market. In addition, the increase in focus on aftermarket and services industry contributes toward the growth of the market. Many players in the market aim at developing their aftersales service capabilities to gain consumer trust and lead the market. Furthermore, the easy accessibility and mobility feature of mobile cranes boost their demand for static and tower cranes which fuels the growth of the market.
However, unavailability of skilled labor in the manufacturing industry is one of the major restraining factors of the cranes market. This is attributed to the fact that cranes exhibit complicated configurations, and achieving desirable results requires extensive training of the operator. In addition, fluctuations in raw material prices hinder the growth of the cranes market significantly.
On the contrary, various companies are investing in domestic manufacturing in many developing countries such as India and Sri Lanka, which is expected to provide lucrative opportunities to small and new crane manufacturers to expand their business capabilities during the forecast period.
Region-wise, the cranes market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key companies profiled in the report include Cargotec Corporation, Kito Corporation, Konecranes Plc, Liebherr-International AG, Manitowoc Company, Inc., SANY Heavy Industry Co. Ltd., Tadano Ltd., Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd., and Zoomlion Heavy Industry Science and Technology Co., Ltd.
Although the infrastructure industry has witnessed a major downturn in the developed countries, such as the U.S. and the UK, the developing countries exhibit high growth potential in the construction industry. The tight fiscal conditions and lack of government funding have been overcome by the increase in focus on public-private partnerships (PPPs). PPPs have been implemented in various countries such as South Korea and India. Increase in PPPs and surge in investments through private channels can assist in boosting the infrastructure industry, thereby driving the growth of the market. In addition, the increase in focus on aftermarket and services industry contributes toward the growth of the market. Many players in the market aim at developing their aftersales service capabilities to gain consumer trust and lead the market. Furthermore, the easy accessibility and mobility feature of mobile cranes boost their demand for static and tower cranes which fuels the growth of the market.
However, unavailability of skilled labor in the manufacturing industry is one of the major restraining factors of the cranes market. This is attributed to the fact that cranes exhibit complicated configurations, and achieving desirable results requires extensive training of the operator. In addition, fluctuations in raw material prices hinder the growth of the cranes market significantly.
On the contrary, various companies are investing in domestic manufacturing in many developing countries such as India and Sri Lanka, which is expected to provide lucrative opportunities to small and new crane manufacturers to expand their business capabilities during the forecast period.
Region-wise, the cranes market has been analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Key companies profiled in the report include Cargotec Corporation, Kito Corporation, Konecranes Plc, Liebherr-International AG, Manitowoc Company, Inc., SANY Heavy Industry Co. Ltd., Tadano Ltd., Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd., and Zoomlion Heavy Industry Science and Technology Co., Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cranes market analysis from 2020 to 2032 to identify the prevailing cranes market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cranes market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cranes market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Manufacturing Capacity
- Consumer Buying Behavior Analysis
- End user preferences and pain points
- Industry life cycle assessment, by region
- Installed Base analysis
- Product Benchmarking/Product specification and applications
- Product Life Cycles
- Senario Analysis & Growth Trend Comparision
- Supply Chain Analysis & Vendor Margins
- Technology Trend Analysis
- Distributor margin Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- New Product Development/Product Matrix of Key Players
- Pain Point Analysis
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Average Selling Price Analysis/Price Point Analysis
- Brands Share Analysis
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- List of customers/consumers/raw material suppliers- value chain analysis
- Market share analysis of players at global/region/country level
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Type
- Overhead Travelling Cranes
- Transporter Cranes, Gantry Cranes, and Bridge Cranes
- Tower cranes and portal or pedestal jib cranes
By Mobility
- Static
- Mobile
By Business Type
- Original Equipment Manufacturers (OEM)
- Aftersales
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Cargotec Corporation
- Terex Corporation
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- KONECRANES PLC.
- LIEBHERR-INTERNATIONAL AG
- Manitowoc Company, Inc.
- SANY HEAVY INDUSTRY CO. LTD.
- Tadano Ltd.
- XUZHOU CONSTRUCTION MACHINERY GROUP CO., LTD.
- Kito Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CRANES MARKET, BY TYPE
CHAPTER 5: CRANES MARKET, BY MOBILITY
CHAPTER 6: CRANES MARKET, BY BUSINESS TYPE
CHAPTER 7: CRANES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Cargotec Corporation
- Terex Corporation
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- KONECRANES PLC.
- LIEBHERR-INTERNATIONAL AG
- Manitowoc Company, Inc.
- SANY HEAVY INDUSTRY CO. LTD.
- Tadano Ltd.
- XUZHOU CONSTRUCTION MACHINERY GROUP CO., LTD.
- Kito Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 231 |
| Published | November 2023 |
| Forecast Period | 2020 - 2032 |
| Estimated Market Value ( USD | $ 35035.3 million |
| Forecasted Market Value ( USD | $ 52675.5 million |
| Compound Annual Growth Rate | 3.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
