The Cranes Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Cranes Market?
The Cranes Global Market Report 2025 indicates that the cranes market has shown consistent growth recently. The market was worth $39.97 billion in 2024 and is projected to reach $41.92 billion in 2025. This indicates a compound annual growth rate (CAGR) of 4.9%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Cranes Industry?
The Cranes Global Market is projected to reach a market size of $52.55 billion in 2029, growing at a compound annual growth rate (CAGR) of 5.8%.
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What are the Key Growth Drivers Fueling the Cranes Market?
The key drivers in the cranes market are:
• The proliferation of renewable energy projects
• Growth in the e-commerce industry
• Increased focus on safety measures in crane operations
• Harbor and shipyard modernization initiatives and the rising popularity of prefabrication.
Global Market Segmentation: Identifying Major Cranes Industry Segments
The cranes market covered in this report is segmented –
1) By Product Type: Mobile, Fixed, Marine
2) By Business Type: Original Equipment Manufacturers (OEM), Aftersales
3) By End-User: Construction, Mining, Industrial, Oil ANd Gas, Other End-Users
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What are the Emerging Trends Shaping the Future of the Cranes Market?
The key trends in the cranes market are:
• Integration of telematics and Internet of Things (IoT) is a major trend shaping the future of the cranes market.
• The industry is moving towards more Eco-friendly and energy-efficient crane models.
• There is an increasing trend towards the development of compact and mobile crane models.
• Automation and robotics are increasingly being integrated into crane operations, including the use of advanced hydraulic systems.
Who Are the Top Competitors & Leading Players in the Cranes Market?
Major companies in the cranes market are:
• Liebherr Group
• Xuzhou Heavy Machinery Co. Ltd (XCMG)
• Marmon Crane Services
• Zoomlion India Pvt. Ltd.
• Zhenhua Heavy Industries Co. Ltd (ZPMC)
• SANY Heavy Equipment Co. Ltd
• Mammoet Americas
• Terex Corporation
• Cargotec Oyj
• PALFINGER AG
• The Manitowoc Company Inc.
• Tadano Ltd
• Maxim Crane Works
• American Crane & Equipment Corporation
• Bigge Crane and Rigging Co.
• Action Construction Equipment Ltd.
• Yongmao Holdings Limited
• WOLFFKRAN International AG
• Kobelco Cranes Co. Limited
• Favelle Favco Group
• Barnhart Crane & Rigging
• Lampson International
• JASO Tower Cranes
• Eng Cranes Srl
• Konecranes PLC
• Sumitomo Heavy Industries Construction Cranes Co. Ltd
• HKTC LLC
• Shandong Huaxia Group Co. Ltd.
• Buckner HeavyLift
• SENNEBOGEN Maschinenfabrik GmbH
Regional Dominance: Which Area Leads the Global Template Market?
Asia-Pacific was the largest region in the cranes market in 2024 and is expected to be the fastest-growing region in the forecast period
