Global Crane And Hoist Market Size By Type (Mobile Cranes, Fixed Cranes), By Operations (Hydraulic, Electric), By Industry (Construction, Aerospace and Défense), By Geographic Scope And Forecast

Crane And Hoist Market Size And Forecast

Crane And Hoist Market size was valued at USD 31.78 Billion in 2024 and is projected to reach USD 45.37 Billion by 2031, growing at a CAGR of 4.55% from 2024 to 2031.

Growing construction activities of high-floor buildings together with rehabilitation of public places such as airports, metro stations, and schools are driving the growth of the market. The Global Crane And Hoist Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Crane And Hoist Market Definition

A crane is a type of machine equipped with wire ropes, hoist rope, sheaves, and chains. A hoist rope is a device used for loading or lowering using a drum or lift wheel around a rope or chain. It is used as a lifting medium to lift heavy things and transport them from one place to another place, operated either pneumatically or electrically. Hoists and cranes come in different typespower travel wire hoists, push-pull trolley hoists, flameproof hoists, double-rail hoists, flexible trolley hoists, bridge cranes, gantry cranes, monorail cranes, jib cranes, and workstation cranes.

Global Crane And Hoist Market Overview

Growing construction activities of high-floor buildings together with rehabilitation of public places such as airports, metro stations, and schools are driving the growth of the market. Day by day size and height of machines and its component is increasing, as a result, it has become difficult to handle these things by the use of the traditional method. With the development of automation, the material handling problem has also been solved by the advent of cranes and hoists.

A crane and hoist act as an important unit to bring about increased production, lower shop costs, and better working conditions. The majority of operations in the construction industry, mining industry, and shipping industry have become dependent on automation to obtain better work efficiency. The present trend toward precision handling of materials has created a demand for simple cranes. Much progress has been made toward automatic overhead material handling for the construction industry, production lines, warehouse, packing, shipping, and marine.

There are certain restraints and challenges faced which will hinder the market growth. Rising carbon emissions and lack of skilled manpower to operate cranes and hoists are the major factors hindering the growth of the market. The demand for skilled technicians has been on the surge. However, many industries face a scarcity of skilled engineers and maintenance staff to appropriately support and maintain equipment. The usage of a large number of components in a crane requires very skilled laborers to mount machinery and harness cables and operate the diverse crane and hoist to lift and lower different weights.

Global Crane And Hoist Market Segmentation Analysis

The Global Crane And Hoist Market is segmented on the basis of Type, Operations, Industry, And Geography.

Crane And Hoist Market, By Type

• Mobile Cranes• Fixed Cranes

Based on Type, The market is bifurcated into Mobile Cranes and Fixed Cranes. The Mobile Cranes segment held the largest market share. The factors can be attributed to Mobile Cranes wide use in construction activities and heavy equipment assembling. These cranes are designed for lifting, moving, holding, and pulling loads in the operation. Furthermore, they are also used in construction sites, warehouses, oil rigs, railway yards, factories, and others. Due to its enormous use, the segment is further projected to propel over the forecast timeline.

Crane And Hoist Market, By Operations

• Hydraulic• Electric• Hybrid

Based on Operations, The market is bifurcated into Hydraulic, Electric, and Hybrid. A Hydraulic segment is predicted to hold the most significant CAGR in the forecast period. Hydraulic cranes are extensively used for lifting and moving heavy materials in warehouses, shipyards, and industrial workshops. Besides, hydraulic cranes are used in manufacturing, transport, and construction industries.

Crane And Hoist Market, By Industry

• Construction• Aerospace & Défense• Shipping & Material Handling• Mining• Automotive & Railway• Marine• Energy & Power• Others

Based on Industry, The market is bifurcated into Construction, Aerospace & Défense, Shipping & Material Handling, Mining, Automotive & Railway, Marine, Energy & Power, and Others. The Construction segment is anticipated to have the highest CAGR in the forecast period. With new advanced plans and projects, the usage of construction equipment is also increasing. In the construction industry, cranes are broadly used due to their performance, strength, and reliability.

Crane And Hoist Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, The Global Crane And Hoist Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific. The requirement for growing the production output without compromising on quality standards has affected the manufacturing sector in the region. Manufacturers and suppliers are fronting challenges in terms of the growing labor cost and high lead time because of manual processes. Hence, companies are automating their procedures, thus driving the hoists market in the Asia Pacific.

Key Players

The “Global Crane And Hoist Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Konecranes, Terex, Liebherr, Manitowoc, Cargotec, Zoomlion, Ingersoll Rand, Columbus Mckinnon, Kito, Tadano. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. 

Key Developments

• In May 2022, Liebherr introduced the GMM 50-5, a newly improved multi-tine grab. The cleverly constructed five-tine grip was created not just for customers, but also in collaboration with them. The new grab brings together decades of Liebherr knowledge in the development and manufacture of high-performance, durable attachments with a wealth of user experience.

• In April 2022, Steelweld, a manufacturer of heavy fabrications based in Northern Ireland, was acquired by Terex. Materials Processing’s growth goal is aided by the acquisition of Steelweld, which expanded fabrication capabilities in Northern Ireland.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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