Market Trends of Europe Crane Industry
Mobile Crane Holds the Highest Share
Over the long term, expansion is driven by growing development and infrastructure activities. Major European countries, including Germany, France, and Italy, are witnessing growing demand for mobile cranes. The use of cranes in a variety of industries is fueling market expansion.
The target market is a significant sector within the construction and industrial equipment industry. Europe, known for its engineering prowess and high-quality manufacturing standards, boasts a robust market for mobile cranes of all types and sizes. The demand for cranes is driven by the region's strong construction industry, infrastructure projects, and industrial development. For instance,
In June 2023, the European Commission selected 107 transport infrastructure projects to receive over USD 6.5 billion in EU grants from the Connecting Europe Facility (CEF) which is the European Union's instrument for strategic investment in transport infrastructure.
Moreover, the building sector is one of the key enablers that is focused on by the region to achieve low carbon economy goals for 2050, by launch of sustainable projects in the construction sector.
Considering the scenario, mobile cranes such as all-terrrain cranes, crawler and truck-mounted cranes are in great demand in recent years due to their versatility and ability to operate in challenging terrains. These cranes are designed to maneuver through rough, uneven surfaces with ease, making them ideal for construction sites, mining projects, and oil and gas fields.
In order to satisfy the wide range of customer needs, a large number of domestic and international manufacturers and suppliers offer a variety of crane types and models in the Europe's fiercely competitive crane market. For instance,
In November 2023, the United Kingdom became the first country in which Chinese manufacturer Sany launched its all-terrain cranes. It started its first official foray into the UK and Irish markets using all terrain cranes. A 60-tonne capacity all terrain model is currently on a demonstration tour in the United Kingdom for prospective local buyers.
Thus, the mobile crane market is a dynamic industry that plays a crucial role in supporting the region's infrastructure development and economic growth. With a diverse range of crane types and models available in the market, customers have access to advanced and reliable crane solutions to meet their specific requirements.
Construction Holds the Highest Share
Cranes play an important role in the construction industry and are essential for lifting heavy materials, moving prefabricated components, and assembling structures. Tower cranes, crawler cranes, and mobile cranes are often used on construction sites to move different loads and navigate different terrain.
In Europe, the ongoing infrastructure development projects, urbanization, and the expansion of the construction industry are the main drivers of crane demand. The nation's need for cranes has been further stimulated by government investments in infrastructure projects like roads, bridges, and airports. Furthermore, the region's crane operations are now safer and more efficient due to the growing use of cutting-edge technologies like automation and remote control.
Infrastructure development in Europe, including the renewal of tracks, the modernization of bridges, the electrification of railway lines, and new smart city projects, will boost demand for cranes. This will create opportunities for growth and innovation in the target market in response to sustainable infrastructure development. For instance:
In May 2023, Belgian construction companies Vanormelingen and Stas announced that they were preparing to carry out major railway infrastructure work in Belgium. The project includes the replacement of 28,000 meters of railway line, the modernization of 18 railway bridges, and the construction of three new bridges.
As the European crane market continues to evolve, manufacturers and suppliers are focusing on developing sustainable and eco-friendly crane solutions to meet the growing demand for green technologies in the construction sectors.
In March 2024, Konecranes launched its flagship Konecranes X-series industrial crane, the successor to its popular CXT model with a new compact design and safe, reliable technology that can adapt to customer needs now and in the future. By applying sustainable design and material choices in the X-series models, the company focuses on emission goals.
Considering the demand and developments, the market is anticipated to witness a high growth rate during the forecast period across Europe.
