Crane Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMICT393 | Last Updated On: Jul 14 2022 | Available Formats

> Global Crane Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Crane Market is segmented By Type (Mobile Cranes, Truck Mounted, All Terrain, Crawler, others), By Fixed Cranes (Monorail Cranes, Tower Cranes, Gantry Cranes, others), By End-User (Construction, Oil & Gas, Manufacturing, Metals & Mining, Others (Shipping & Transport)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Crane Market is expected to grow at a CAGR during the forecast period (2022-2029).

Cranes are industrial machinery equipped with cables and pulleys which are used to lift heavy materials, finding applications in construction sites, manufacturing plants, and other industries.

Market Outlook

  • Technological innovations have been made to make the crane energy-efficient and light-weight, thus providing a boost to market growth.

  • This has driven the use of cranes at building sites, shipping yards, and industrial factories. Cranes are also employed at petrochemical sites, and explorations of oil and gas in the energy sector have driven the demand for cranes.
  • Accidents in manufacturing plants and construction sites involving crane structural failures occur every year owing to negligence on the part of human operators, overloading of cranes, or machinery failure. Regulations about safety standards put forth by federal authorities and accidental hazards might impact market growth.

Market Segmentation 

  • Based on the type, the crane market is segmented into mobile cranes and fixed cranes.

  • Mobile Cranes can be further categorized into truck-mounted cranes, all-terrain cranes, crawler cranes, and others including rough terrain cranes, loader cranes, and telescopic cranes.
  • Fixed cranes can be categorized into monorail cranes, tower cranes, gantry cranes and others including ring cranes & stiff leg cranes.
  • Fixed Cranes are more extensively used in oil & gas sector and construction sector. However, mobile cranes are also being employed in mining operations owing to greater mobility and flexibility of use in hilly terrains.
  • Based on End-user, market is segmented into Construction, Oil & Gas, Manufacturing, Metals & Mining, and Others.
  • The demand for cranes is on the rise in the Construction sector, which leads by market share owing to the increase in deployment of cranes in building sites and shipbuilding yards. The report segments the geographies by regions, which include Asia Pacific, North America, South America, Europe, and RoW.

Geographical Share

  • Geographically, North America leads to market share owing to an increase in demand for cranes to be deployed in construction sites and manufacturing units. Technological up gradation of cranes by key players to maintain competitiveness in the market has also driven market growth in North America.
  • Asia-Pacific will, however, witness a higher growth rate of the crane market boosted by economic development and growth of the construction market.

Scope of the Report

  • DataM analyses the complete scenario of the Global Crane market, market segmentation, geographical analysis, companies, trends, and opportunities in the market. The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
  • The report profiles the following companies, which includes ALE, Altec, Broderson Cranes, Cargotec, Fassi Gru, Konecranes, Lampson, Mammoet, Maxim Crane Works, and Sarens.

Key Segments Covered in the report :

By Type

  • Mobile Cranes
  • Fixed Cranes

By End-User

  • Construction
  • Oil & Gas
  • Manufacturing
  • Metals & Mining
  • Others

By Region

  • Asia Pacific
  • Europe
  • North America
  • South America
  • Rest of the World

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