Cranes Market
The market for Cranes was estimated at $45.4 billion in 2024; it is anticipated to increase to $65.8 billion by 2030, with projections indicating growth to around $89.7 billion by 2035.
Global Cranes Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Cranes industry revenue is expected to be around $48.3 billion in 2025 and expected to showcase growth with 6.4% CAGR between 2025 and 2034. Establishing their widespread presence and significant impact, on these sectors.
In shapes and sizes. Ranging from sturdy tower cranes to nimble mobile cranes. These majestic machines are shaping the global landscape of progress and growth with their remarkable features such as strong lifting capability long lasting build quality, versatility, in managing different equipment and impressive speed in operations.
Market Key Insights
- The Cranes market is projected to grow from $45.4 billion in 2024 to $84.4 billion in 2034. This represents a CAGR of 6.4%, reflecting rising demand across Construction, Shipping and Energy Sector.
- Liebherr Group, The Manitowoc Company Inc, Konecranes PLC are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Cranes market and are expected to observe the growth CAGR of 4.2% to 6.1% between 2024 and 2030.
- Emerging markets including Nigeria, Vietnam and Indonesia are expected to observe highest growth with CAGR ranging between 7.4% to 8.8%.
- Transition like Automation Proliferation in Crane Industry has greater influence in United States and China market's value chain; and is expected to add $2 billion of additional value to Cranes industry revenue by 2030.
- The Cranes market is set to add $39.0 billion between 2024 and 2034, with manufacturer targeting Mining & Oil & Gas Application projected to gain a larger market share.
- With Urbanization and infrastructure development, and Technological advancements in crane industry, Cranes market to expand 86% between 2024 and 2034.
