How big is the Crane Market?

The Crane Market size is expected to reach USD 42.64 billion in 2024 and grow at a CAGR of 6.28% to reach USD 57.76 billion by 2029. Read More

What is the current Crane Market size?

In 2024, the Crane Market size is expected to reach USD 42.64 billion. Read More

Who are the key players in Crane Market?

Sany heavy Industry Co. Ltd., Xuzhou Construction Machinery Group Co., Ltd, Zoomlion Heavy Industry Science and Technology Co., Ltd, Konecranes Oyj and Liebherr Group are the major companies operating in the Crane Market. Read More

Which is the fastest growing region in Crane Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Crane Market?

In 2024, the Asia-Pacific accounts for the largest market share in Crane Market. Read More

What years does this Crane Market cover, and what was the market size in 2023?

In 2023, the Crane Market size was estimated at USD 39.96 billion. The report covers the Crane Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Crane Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key challenges facing the Crane Market?

The key challenges faced by the Crane Industry are: a) High initial investment costs b) Maintenance expenses c) Need for skilled operators d) Safety concerns e) Regulatory compliance add to the operational complexity Read More

Crane Market Share

Statistics for the 2023 & 2024 Crane market share, created by Mordor Intelligence™ Industry Reports. Crane share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Crane Industry

The crane market is highly consolidated and dominated by a few major players. Some of the leading players in the market studied are Manitowoc, Tadano, Kobelco, Cargotec, Kone Cranes, Liebherr, SANY Global, Palfinger, Zoomlion, and XCMG. These players have successfully capitalized on the significant demand for reliable cranes from key players in the construction, mining, and industrial sectors.

The major players in the region are spending heavily on the research and development of new products and delivering cranes globally. They also focus on growth strategies, such as new product launches and securing major orders to strengthen their positions.

December 2023: SANY India, a leading construction equipment manufacturer, showcased 44 machines, including 15 new models, at EXCON 2023, South Asia's largest construction equipment exhibition. The range includes electric machines designed for various applications, such as earthwork, excavation, heavy lifting, deep foundation works, mining operations, road construction, and port equipment. The company showcased its first Hybrid Truck Crane in India with diesel and electric modes for environmentally friendly, fuel-saving, and silent crane operations.
March 2023: Palfinger Marine was officially commissioned to deliver 25 of its stiff boom cranes for the Kitakyusyu-Hibikinada offshore wind farm in Japan. The Austria-based company said that the design of the stiff boom cranes with an outreach of eight meters was completely adapted to meet the offshore wind service crane requirements and especially the EN13852-3 standard.
October 2022: Terex Cranes introduced the CTT 222-10 Flat Top Tower Crane. To maintain safety, the adjustable slewing seat and integrated heating and cooling system keep operators comfortable, productive, and focused on their work. The maximum capacity of this model is 10 tons, the maximum jib length is 65 m, and the maximum free-standing height (C25) is 54.35 m, 72.95 m, and 67.85 m.