The Cranes Market size was estimated at USD 44.0 Billion in 2022 and is expected to reach USD 67.3 Billion by 2030 at a CAGR of 4.5% during the forecast period of 2023-2030.
The cranes market has experienced significant growth in recent years, driven by the increasing demand for infrastructure development, particularly in emerging economies. As urbanization continues to rise globally, the need for efficient material handling and lifting solutions has become paramount. Industries such as construction, manufacturing, and shipping are major contributors to this demand, as they rely heavily on cranes for various applications. Additionally, technological advancements in crane design, such as the integration of smart technologies and automation, have enhanced operational efficiency and safety, further propelling market growth.
Moreover, the market is witnessing a shift towards electric and hybrid cranes as environmental sustainability becomes a priority across industries. These eco-friendly alternatives not only reduce carbon emissions but also lower operating costs, making them an attractive option for businesses aiming to enhance their corporate social responsibility (CSR) initiatives. Furthermore, government investments in renewable energy projects and large-scale infrastructure initiatives are expected to boost the demand for cranes in the coming years. With ongoing innovations and a growing focus on sustainability, the cranes market is poised for continued expansion, catering to the evolving needs of various sectors.
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Covid 19 impact analysis:
The latest report is the most recent study that offers coverage of the Cranes industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Cranes market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
SANY GROUP (China), Konecranes (Finland), Manitowoc Company, Inc. (U.S.), Tadano Ltd (apan), Komatsu Ltd (Japan), Terex Corporation (U.S.), Liebherr Group (Germany), Hitachi Construction Machinery Europe NV (Netherlands), Demag Cranes & Components GmbH (Germany), Zoomlion Heavy Industry Science and Technology Co., Ltd (China), and others
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Cranes market.
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It has segmented the global Cranes market
By Product Type
- Mobile
- Fixed
- Marine
By End-User
- Construction
- Mining
- Industrial
- Oil & Gas
- Others
Key Objectives of the Global Cranes Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Cranes
- The report marks the notable developments that have recently taken place in the Cranes industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Cranes market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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