Global crane market size estimated in 2019 – nearly US$ 40,000 Mn. The global crane market is anticipated to grow at a CAGR of nearly 4% over 2019-2029.

1. Global Market Study on Crane 2019-2029: Mobile
Cranes Poised for Remunerative Gains
Global Crane Market - Key Research Findings
Global crane market size estimated in 2019 – nearly US$ 40,000 Mn.
The global crane market is anticipated to grow at a CAGR of nearly 4% over 2019-2029.
APEC and China are expected to remain large regional markets for cranes.
APEC and China are prominent regions in the global crane market due to the growing
demand for construction activities in these regions.
Emerging companies are focusing on expanding their product portfolios by launching
new products in the global crane market.
Companies such as Tadano Ltd. and Terex Corporation, among others, are significantly
investing in new product development and launches to sustain their market presence.
The stiff boom segment is projected to be a prominent segment in the global crane
market, in terms of design type, over the forecast period.

2. Market Set to Grow 1.5X between 2019 and 2029
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Global Crane Market Structure Analysis
In Oct 2016, Dornseiff, a crane rental company in Germany, employed mobile cranes
for lifting HVAC (Heating Ventilation and Air Conditioning) equipment weighing 2.4
tonnes to a height of 22.5 meters. According to the site technician, a tower crane is
generally used for similar applications.
Mobile cranes are primarily used for high capacity lifting in greater height applications.
However, the use of many other lifting equipment for these applications offer substantial
limitations in lifting capacity, comfort, and difficulty in steering maneuverability. These
limitations are overcome by mobile cranes due to the availability of large capacity
cranes with enhanced driving comfort. Thus, the demand for these applications is
mainly increasing the adoption of mobile cranes, thereby driving the global mobile crane
market.
Increasing need for high capacity lifting for greater height application
Investments in infrastructure can be classified into investments for airports, ports,
railways, roads, pipelines, waterways, irrigation, and urban infrastructure. In September
2016, the Liebherr Group supplied three mobile cranes during the expansion of the
airport to the suburban railway line in Barcelona.
Increasing investments made by governments as well as private sector companies in
infrastructure development projects is the major factor driving the growth of the global
crane market. Within these projects, the significant demand drivers going forward are
urban infrastructure, road construction, irrigation, and mining operations.
Increasing investments in public and private sector construction projects
As such, many companies are entering the market in Asia Pacific and the Middle East
and Africa with the hope of capitalizing on this demand and expanding their
geographical footprint. For this, companies are focusing on developing products that
comply with the respective safety and emission standards of the local markets.
The crane markets in emerging regions are expected to be driven by increasing
investments in construction and mining. According to MEED (Middle East Economic
Digest), the contribution of the construction sector to the GDP in UAE increased from
10.3% in 2011 to 11.1% in 2015. With the bourgeoning industrial sector, including
mining, manufacturing, utilities, construction, and oil and gas, the demand for mobile
cranes in these regions is expected to increase during the forecast period.

3. Growth in construction and mining sector to drive the adoption of cranes
Top 3 Factors Shaping the Global Crane Market
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The global crane market is likely to witness robust growth over the projected period. The
global crane market growth is expected to be mainly driven by the growing focus
towards construction activities, and subsequent increase in the demand for commercial
properties.
Most of the key players are diversifying and strengthening their production and
distribution bases around the globe, as well as heavily emphasizing on R&D activities
for innovative product development.
Some of the prominent companies in the global crane market include Terex
Corporation, Liebheer group, Sany Group, Tadano Ltd. etc.
The global crane market is a significantly organized market, with organized players
occupying a market share of up to 50%.
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Some of the top manufacturers that contribute a high revenue share in the global crane
market are Terex Corporation, Liebheer group, Sany Group, Tadano Ltd., Zoomlion,
Kobelco, and Kato, to name a few.
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