Crane Market Outlook, Trends and Applications to 2025

Crane Market 2025 by Feature Outlook,
Demands and Growth Rate
“Global crane market is undergoing a change owing to
growth of emerging economies and increase in demand
for infrastructure industry. Cranes are used to transport
different types of load at construction sites and have
widespread applications in upcoming modern
infrastructure projects.”
Global crane market constitutes a major part of the global construction equipment industry. They can be categorized
into marine cranes, mobile cranes and fixed cranes on the basis of their outreach, load-lifting capabilities and lift
height. Global crane market is undergoing a change owing to growth of emerging economies and increase in demand
for infrastructure industry. Cranes are used to transport different types of load at construction sites and have
widespread applications in upcoming modern infrastructure projects. Global mobile crane market is expected to
witness a steady growth over 7% in the next seven years on account of increasing government investments in
construction projects.
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Transformation of urban areas into smart cities is expected to drive growth in the crane market in the forecast period.
Incorporating efficient systems such as traffic management system and smart grids will have a positive impact on the
development leading to augmented demand for mobile cranes in the foreseeable future. Increasing investments in
power plant construction is major factor that will trigger the growth of the global crane market.Fleet management
ensures procurement of information related to fuel consumption and operations of cranes which enhance productivity
of machines in the crane industry. Furthermore, fleet management services provided by crane vendors is also a
propelling factor for increase in demand for cranes
Growing population has led to a rise in the demand for commercial, industrial and residential, buildings which in turn
is expected to increase the adoption of construction equipment. Several types of cranes such as crawler cranes and
truck cranes are used during construction and civil engineering activities. However, instability in the macroeconomic
environment will have negative impact oncrane manufacturers, and is likely to affect their profit margins. Global crane
market is highly fragmented and few vendors such as Liebherr and Kobelco leading the market owing to extensive
product portfolio and improved after sales service. Other vendors in the market include Zoomlion, Konecranes, Tadano
and Terex.
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Total sales in the mobile cranes market are expected to witness an increase during the forecast period. Economic
slowdown in last decade led to high cost of production in the global crane industry, the economic meltdown of last
decade increased costs of production leading to reduces profit margins for many companies. Technological
advancements in higher capacity cranes led to increased competition among top players thus eliminating some midsized
companies and small players. This resulted in market consolidation through collaboration, joint ventures and
mergers and acquisition of companies, products and services. Recently, Terex, a US-based crane maker received an
acquisition proposal from Zoomlion at $30 a share. The all-cash offer is expected to value the company at $3.2 billion
and can create one of the world’s biggest crane makers. However, due to stable European recovery, healthy demand
in several emerging economies and improving growth in the U.S. the overall demand remained stable. During the
forecast period, the demand is expected to witness a significant increase across all regions, including China,
Market growth is expected to be driven by upcoming trends, such as the rise in equipment rental market in Americas
and Europe in the forecast period owing to several vendors in these regions who offer services ranging from financing
equipment to rentals. The rental business in this region is expected to witness a growth of over 8% over the next seven
years. Global crane industry has its presence in EMEA, APAC and Americas with AAC dominating the market with the
largest market share followed by EMEA and Americas.

Global Crane market competition by top manufacturers, with production, price, revenue (value) and market share
for each manufacturer; the top players including
• Altech Industries
• Cargotec
• Columbus McKinnon Corporation
• Fassi Gru S.P.A. Socio unico
• Furukawa Unic Corporation
• Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
• IHI Construction Machinery Ltd.
• Kato-Works Co. Ltd.
• Kobelco Cranes India Pvt. Ltd
• Konecranes PLC
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On the basis of product, this report displays the production, revenue, price, market share and growth rate of each
type, primarily split into
• Flow Crane
• Tower Crane
• Mast Crane
• Other

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