Europe Crane Market Size (2024 - 2029)

Europe Crane Market Analysis

The EUROPE CRANE MARKET size is estimated at USD 14.10 billion in 2024, and is expected to reach USD 17.30 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

Over the long term, factors such as the deployment of automated technology and rising urbanization leading to expansion in construction activities will drive the European crane market. The industry is poised for further expansion as governments continue to invest in new construction projects. This rapid industrialization leads to improved infrastructural amenities. For instance,

In February 2024, France, the second-largest automotive production hub in Europe, secured a total accumulation of EUR10 billion from public and private funds for the opening of four gigafactories in the near future.

With the rise in sales of electric vehicles in countries like Germany and France, which are also the largest markets for electric vehicles, the automotive industry is gaining popularity, which has led to an increase in manufacturing and maintenance processes, and as a result, is likely to require overhead cranes to lift automobile parts, which will act as a contributing factor driving impressive growth in the European crane market in the future.

Governments of various countries are focusing on initiating and expediting infrastructure projects, including highways, bridges, airports, and smart city projects. Moreover, considering the potential of growth in European construction sector, governments of other countries are showing interest to invest. For example,

Italy will invest USD 10.0 billion to modernize and increase capacity at its ports till 2026 and USD 34.9 billion for sustainable mobility, including investments for construction of high-speed rail network and complete the rail freight corridors.

The European crane market is highly competitive, with numerous domestic and international manufacturers vying for market share. Prominent players in the German crane market include Liebherr, Tadano, and Konecranes, among others. These companies offer a wide range of crane products, catering to the diverse needs of the market. Also, some of the company’s are adopting different marketing opportunities, which will help them gain a significant market share during the forecast period.

For instance, in January 2024, Potain unveiled the first Evy electric crane that can stand on its own. The new Evy 30-23 4 T model crane stands out not only for its electric power but also for being the first product created by Potain using its Voice of the Customer process for product development.

Thus, all the aforementioned factors are expected to drive the market growth.

Europe Crane Industry Segmentation

A crane is a machine equipped with a hoist, wire ropes, chains, and sheaves that can be used to lift and lower materials and move them horizontally. Cranes have evolved over the centuries and are now instrumental in various industries such as construction, shipping, and manufacturing.

The European crane market is segmented by type, application type, and geography. By type, the market is segmented into mobile crane, fixed crane, and marine and off-shore crane. By application type, the market is segmented into construction, mining, marine and offshore, and industrial applications. By geography market is segmented into India, China, Japan, South Korea, and the Rest of Asia-Pacific.

The report offers market size and forecasts for the European crane market in value (USD) and volume (units) for all the above segments.