Construction Crane Market Trends and Forecast
The future of the global construction crane market looks promising with opportunities in the residential construction, commercial construction, industrial construction, and infrastructure construction markets. The global construction crane market is expected to grow with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are on-going technological advancements enhancing crane efficiency and safety, increasing investments in the commercial and residential construction projects, and rising government initiatives supporting infrastructural development globally.
• Lucintel forecasts that top-kit tower crane is expected to witness the highest growth over the forecast period.
• Within this market, residential construction is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Construction Crane Market
• United States: Leading crane manufacturers like Manitowoc announced new models focusing on increased lifting capacities to meet growing demand from infrastructure projects supported by federal infrastructure spending targets.
• China: Zoomlion set ambitious targets to expand its market share by 15% through innovative crane designs aimed at enhancing operational efficiency and reducing environmental impact, aligned with government initiatives promoting green construction practices.
• Germany: Liebherr introduced advanced digital solutions for cranes, aiming to improve productivity and safety on construction sites. The government announced subsidies for crane operators adopting digital technologies to enhance operational efficiency.
• India: Tata Hitachi launched new cranes designed for urban construction projects, targeting a 20% increase in market penetration by 2025. The governmentÄX%$%Xs focus on infrastructure development under the National Infrastructure Pipeline is driving demand for modern crane technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Construction Crane Market by Segment
The study includes a forecast for the global construction crane market by type, application, and region.
Construction Crane Market by Type [Value from 2018 to 2030]:
• Top-Kit Tower Crane
• Flat-Top Tower Crane
• Luffing Jib Tower Crane
Construction Crane Market by Application [Value from 2018 to 2030]:
• Residential Construction
• Commercial Construction
• Industrial Construction
• Infrastructure Construction
Construction Crane Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Construction Crane Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction crane companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction crane companies profiled in this report include-
• XCMG
• Zoomlion
• SANY
• Terex
• DAHAN
• Fushun Yongmao
• Comansa
Recent Development in the Construction Crane Market
• Liebherr: Liebherr announced plans to expand its presence in emerging markets such as India and Southeast Asia by introducing advanced crane models tailored to local infrastructure needs.
• Terex Corporation: Terex Corporation unveiled a new hybrid crane technology aimed at reducing fuel consumption and emissions, aligning with global sustainability goals in the construction sector.
• Zoomlion: Zoomlion forged a strategic partnership with a tech firm to integrate AI and IoT capabilities into their crane systems, enhancing operational efficiency and safety features.
• XCMG: XCMG launched a next-generation tower crane equipped with advanced automation features, aiming to improve productivity and safety standards on construction sites globally.
• Tadano Ltd.: Tadano Ltd. completed the acquisition of a prominent crane rental service in Europe, expanding its market reach and service capabilities across the continent.
Features of the Global Construction Crane Market
Market Size Estimates: Construction crane market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Construction crane market size by type, application, and region in terms of value ($B).
Regional Analysis: Construction crane market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the construction crane market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction crane market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for construction crane market?
Answer: The global construction crane market is expected to grow with a CAGR of 6.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the construction crane market?
Answer: The major drivers for this market are on-going technological advancements enhancing crane efficiency and safety, increasing investments in the commercial and residential construction projects, and rising government initiatives supporting infrastructural development globally.
Q3. What are the major segments for construction crane market?
Answer: The future of the construction crane market looks promising with opportunities in the residential construction, commercial construction, industrial construction, and infrastructure construction markets.
Q4. Who are the key construction crane market companies?
Answer: Some of the key construction crane companies are as follows:
• XCMG
• Zoomlion
• SANY
• Terex
• DAHAN
• Fushun Yongmao
• Comansa
Q5. Which construction crane market segment will be the largest in future?
Answer: Lucintel forecasts that top-kit tower crane is expected to witness the highest growth over the forecast period.
Q6. In construction crane market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the construction crane market by type (top-kit tower crane, flat-top tower crane, and luffing jib tower crane), application (residential construction, commercial construction, industrial construction, and infrastructure construction), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Construction Crane Market, Construction Crane Market Size, Construction Crane Market Growth, Construction Crane Market Analysis, Construction Crane Market Report, Construction Crane Market Share, Construction Crane Market Trends, Construction Crane Market Forecast, Construction Crane Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.