Crane Market Analysis

Product (Mobile Crane, Fixed Crane)

The mobile crane segment is set to dominate around 65.2% crane market share by the end of 2037, owing to rapid urbanization and the expansion of infrastructure projects worldwide. Additionally, the move to flexible and adaptive infrastructure models makes it possible for mobile cranes to meet a range of construction requirements. In the oil and gas industry, mobile cranes play a vital role in the installation and upkeep of equipment.

Throughout the projection period, the need for mobile cranes is projected to grow due to an increase in exploration operations in areas like the Middle East and North America. For instance, in March 2021, Liebherr unveiled the MK 73-3.1 mobile construction crane, a small one-man taxi crane. This most recent device was created to meet consumer expectations for a mobile construction crane that is small, lightweight, adaptable, and quick to operate.

Application (Construction & Mining, Utility, Manufacturing, Transport/shipping, Oil & Gas/ Energy)

The construction & mining segment is likely to hold a significant share in crane market by the end of 2037 due to their effectiveness and capacity to carry large weights, cranes are essential in a variety of building operations. Crane demand rises in tandem with construction activity, fostering a mutually beneficial link between the two sectors. Furthermore, the demand for sophisticated crane technology has been further stimulated by the development of construction methods and the need for increased efficiency.

Innovative crane solutions that provide better safety features, higher load capacities, and superior mobility are becoming more and more popular among contractors and construction businesses. The need to adhere to strict safety and regulatory requirements is another factor driving the crane market's push for technical improvement. In order to provide innovative crane models that meet the changing demands of the construction sector, manufacturers are spending money on research and development.

Our in-depth analysis of the global crane market includes the following segments: