Cranes Market expected to reach USD 63.709 billion by 2030

Cranes Market Trends & Forecast

According to a research study published by Knowledge Sourcing Intelligence (KSI), the cranes market will expand from USD 47.383 billion in 2025 to USD 63.709 billion in 2030 at a CAGR of 6.10% during the forecast period.

The global crane market is being propelled by infrastructure development, rising demand for renewable energy, and rapid technological advancements. The demand for emerging technologies like automation and AI is further propelling the latest application of cranes in various sectors. The growing economies around the world and the emergence of e-commerce created the large-scale application of cranes in transportation & logistics. Moreover, growing international trade has created the large-scale application of cranes in the ports across the world, where companies and governments are investing heavily in profitable operations at the ports.

Cranes Market Highlights

• Tower cranes are a type of static crane specifically made for erecting high-rise buildings, such as skyscraper buildings and other large structures. Tower cranes are placed on a concrete base, have a tall vertical mast with a long horizontal arm called a jib and are designed to lift the heaviest construction materials, such as steel and concrete, to very high heights over a wide working area.
• The main use of a mobile crane is to be able to quickly and easily move from jobsite to jobsite with the minimal amount of set-up and take-down time, which is why most of the mobile crane models are either mounted on trucks (known as all-terrain models) or have crawler tracks.
• This heavy-lifting mobile crane segment is extremely important to support mega-projects within industrial, energy, and infrastructure sectors and is often large crawler or specialised mobile cranes that can lift very large items such as prefabricated sections of bridges, nacelles for wind turbines, and large components used in power plants. It is crucial that these cranes are able to lift these heavy, large objects with high precision and high stability to minimise the risk of accidents.
• Within the construction industry, the majority of cranes are used during every phase of constructing a building, including moving the initial building materials to erecting the structural components of a building. Urban development and significant government investments into both commercial and residential construction projects, and major developments in infrastructure have driven an increased demand for cranes capable of moving materials vertically and horizontally.
• North America and the Asia Pacific are projected to account for a considerable market share fueled by the ongoing adoption of capital-intensive techniques in industrial operations, followed by favourable growth in major end-users such as oil & gas, logistics, and construction. Improvement in logistics and establishment of ports, followed by investment in construction activities, has escalated the demand for heavy machinery such as cranes in major regional economies.

Report Coverage:

Report Metric	Details
Cranes Market Size in 2025	US$47.383 billion
Cranes Market Size in 2030	US$63.709 billion
Growth Rate	CAGR of 6.10%
Drivers	Growing Growth in the construction activities Expansion of renewable energy
Restraints:	High upfront costs
Segmentation	Type Mobility Capacity End-user Industry Geography
List of Major Companies in the Cranes Market	Terex Corporation Gorbel Inc. Mitsubishi Heavy Industries Hyundai Motor Company Sumitomo Heavy Industries Construction Cranes Co., Ltd.

Cranes Market Growth Drivers and Restraints

Growth Drivers:

• Growing Growth in the construction activities: The global crane market is experiencing robust growth from the major developing economies around the world. Further, large economies like the USA also have significant investments in the construction sector. Construction spending during August 2025 was estimated at a seasonally adjusted annual rate of $2,169.5 billion, 0.2 per cent (±0.7 per cent)* above the revised July estimate of $2,165.0 billion. The August figure is 1.6 per cent (±1.5 per cent) below the August 2024 estimate of $2,205.3 billion. During the first eight months of this year, construction spending amounted to $1,438.0 billion, 1.8 per cent (±1.0 per cent) below the $1,463.7 billion for the same period in 2024. This rise in construction spending indicates the industry’s expenditure on services and materials.
• Expansion of renewable energy: According to the International Energy Agency (IEA), Electricity generation from renewables is expected to increase by 60% through 2030, rising from 9,900 terawatt-hours (TWh) in 2024 to 16,200 TWh by the end of the decade. Wind accounts for almost a third of growth, second only to solar PV, which accounts for 60%. The rapid growth in wind energy installations worldwide is significantly boosting demand for heavy-lift cranes. Further, countries around the world are planning for the expansion of the renewable energy sector. This is boosting the demand for cranes in the installation and maintenance of the wind power energy sector.

Restraints:

• High upfront costs: The price volatility due to the supply-chain constraint is a serious challenge in the industry. These challenges are increased by recent tariff policies.

Cranes Market Key Development

• In January 2024, Kobelco Construction Machinery announced the launch of a telescopic boom crawler crane, namely, TKE750 Kg, in Europe. It is designed to lift a capacity of 75 metric tons and is developed as per the EU Stage V-compliant.

Cranes Market Segmentation

Knowledge Sourcing Intelligence has segmented the Global Cranes Market based on Type, Mobility, Capacity, End-user Industry, and region:

By Type

• Tower Cranes
• Rough-terrain Cranes
• Crawler Cranes
• Floating Cranes
• Others

By Mobility

• Static
• Mobile

By Capacity

• Up to 50 Tons
• 50 to 100 Tons
• Greater than 100 Tons

By End-User Industry

• Construction
• Mining
• Transportation & Logistics
• Oil & Gas
• Manufacturing
• Others

By Region

• North America
  • USA
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Others
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Others
• Middle East and Africa
  • Saudi Arabia
  • UAE
  • Others
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Indonesia
  • Others

Cranes Market Key Players

• Terex Corporation
• Gorbel Inc.
• Mitsubishi Heavy Industries
• Hyundai Motor Company
• Sumitomo Heavy Industries, Ltd.
• Tadano Ltd.
• Mazzella Companies
• JC Bamford Excavators Ltd.
• The Volvo Group
• TIL Limited
• Liebherr Group