23 Jul, 2026
According to Straits Research the global cranes market size was valued at $40.55 billion in 2025 and is projected to grow from $42.49 billion in 2026 to $61.83 billion by 2034, at a CAGR of 4.8% during the forecast period 2026–2034.
Cranes are used to lift and carry bulky objects using a hoisting mechanism equipped with hoist ropes, wire ropes, chains, and shelves. In addition, they are available in several distinct types, including traveling overhead cranes, girder cranes, bridge cranes, crawler cranes, pedestal jib cranes, and others. A crane is a mechanical device with a hoisting mechanism and wire ropes, hoist ropes, sheaved ropes, or chains for attachment. Cranes are used for material handling on construction sites and in industrial environments.
The lack of government funding is one of the most significant obstacles to infrastructure development, particularly in developing nations. The construction of new infrastructure is a significant contributor to the rapid growth of urban areas. The infrastructure deficit is caused by insufficient financial resources and ineffective channels for efficiently mobilizing resources for the country's development. Public-private partnerships have effectively channeled private funds toward infrastructure development in many countries.
Significant industry players, such as Manitowoc and Liebherr, are focusing on developing real-time diagnostics and repair, parts and training, and other services to increase consumer confidence and extend the working life of cranes. Predictive maintenance and real-time health monitoring can reduce the downtime experienced by mobile cranes, resulting in cost savings. Compared to floor-based lifting and transportation equipment such as forklifts and scissor lifts, cranes and hoists on industrial floors can significantly increase the productivity of lifting and transporting applications.
Due to the high price of real estate and rent, distribution, warehousing, and manufacturing facilities have prioritized space and time optimization. To enable higher stacking, overhead cranes, gantry cranes, and girder cranes can be integrated into ceilings. This maximizes the storage facility's volumetric space and allows for greater vertical space utilization. The elimination of floor-based transportation also contributes to the decrease in foot traffic on the industry floor. As a result, it is anticipated that the combined effect of all of these factors will stimulate the growth of the global cranes market.
Autonomous and automated crane systems enable remote access to machines that operate without the need for human operators. Mobile cranes can be remotely monitored using connected sensors and artificial intelligence. Human error is eliminated by providing real-time data on the angle of the boom, the load weight, the horizontal reach, and the efficiency of the crane. Remotely controllable cranes reduce the possibility of mishaps and fatalities. As a result, the automation of mobile cranes is anticipated to create lucrative opportunities for the market expansion of cranes.
China holds the largest market share for cranes in the Asia-Pacific region, followed by Japan. India, South Korea, and Vietnam have high growth potential due to rapid infrastructure development. The Asia-Pacific region has the highest market share for cranes, and Europe has the second-largest share. This is since Europe is a significant center for crane manufacturing, with four significant manufacturers holding the largest market share. All-terrain cranes are in more demand than other mobile cranes in Europe. European manufacturers are increasingly concerned with the emission control of heavy machinery such as cranes. Together, these factors contribute to the growth of the European cranes market.
sales@straitsresearch.com