The global market for Hoists and Cranes was estimated at US$29.9 Billion in 2024 and is projected to reach US$39.2 Billion by 2030, growing at a CAGR of 4.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Hoists and Cranes market.
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.
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.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Mobile segment, which is expected to reach US$24.9 Billion by 2030 with a CAGR of a 5.2%. The Fixed segment is also set to grow at 3.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $6.6 Billion in 2024, and China, forecasted to grow at an impressive 6.8% CAGR to reach $8.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Hoists and Cranes Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Hoists and Cranes Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Hoists and Cranes Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as 3M Company, ABB Ltd., ABUS Kransysteme GmbH, Cargotec Corporation, Columbus McKinnon Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 241 companies featured in this Hoists and Cranes market report include:
- 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.
This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:
- Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
- Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
- Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
- Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
- Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
- Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
- Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERS
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 821 |
| Published | June 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 29.9 Billion |
| Forecasted Market Value ( USD | $ 39.2 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
