PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1539212
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1539212
India Crane Market, By Type; By Load Capacity; By Design; By Application; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
India Crane Market Size Booming at Significant CAGR of 6.7% to Surpass Value of USD 2.1 Billion by 2030
India Crane Market is flourishing due to an increasing number of infrastructure development projects, continuous industrial growth, and growing rental market.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Crane Market size by value at USD 1.29 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects India Crane Market size to expand at a CAGR of 6.70% reaching a value of USD 2.1 billion by 2030. The Crane Market in India is propelled by the soaring construction sector, technological progress, and significant research and development activities. The surge in the number of construction and infrastructure projects, coupled with the widespread adoption of mobile cranes for their flexibility and mobility, plays a crucial role in the expansion of India Crane Market. Innovations such as remote-controlled cranes and AI-integrated cranes enhance operational safety and efficiency, driving market expansion. Furthermore, government infrastructure initiatives and the extensive use of cranes across various industries, including power, oil and gas, civil engineering, and petrochemicals, contribute to the market's growth. These factors, combined with rapid industrialization and continuous technological advancements, create lucrative opportunities for the players in India Crane Market.
Opportunities - Adoption of technological advancements
Technological advancements present significant opportunities for the growth of India Crane Market. Recent innovations in smart design and manufacturing are driving the development of modular, adaptable, and intelligent cranes. These new cranes are compact, energy-efficient, and equipped with features like remote diagnostics, maintenance monitoring, and automated positioning, allowing businesses to add new functionalities as needed. Enhanced service panels facilitate quicker fault diagnosis and maintenance, reducing downtime and extending the crane's lifecycle. Additionally, optimized pulley rope angles and recyclable materials contribute to sustainability and cost-efficiency. With India's booming construction, manufacturing, and logistics sectors, fueled by projects like smart cities and industrial corridors, the demand for advanced crane control systems is set to rise. Companies like SRP Crane Controls (India) Private Limited are leading this transformation, leveraging technological advancements to enhance productivity, safety, and environmental responsibility.
North India Dominates India Crane Market
North India's burgeoning infrastructure landscape is propelling significant growth in the crane market. The region's status as a construction powerhouse is exemplified by mega-projects like the Eastern Peripheral Expressway, a mammoth INR 11,000 crore undertaking spanning 135 kilometers. This greenfield expressway is a microcosm of the region's infrastructure boom, necessitating a diverse fleet of cranes for its execution. Beyond flagship projects, the region's thriving urban and industrial sectors are consistently driving demand for cranes of various capacities. With a robust pipeline of infrastructure investments, North India is set to retain its dominance as a key market for crane manufacturers and suppliers. The scale and complexity of ongoing projects underscore the critical role cranes play in the region's development trajectory.
Impact of Escalating Geopolitical Tensions on India Crane Market
India Crane Market may face significant challenges from intensifying geopolitical tensions across the world. Increased uncertainty and trade restrictions can disrupt supply chains for crane components, leading to higher costs and delays in equipment availability. Such tensions may also deter foreign direct investments (FDIs) and slow down infrastructure projects reliant on advanced crane technologies. Additionally, geopolitical instability can affect global demand, impacting India's export potential in the crane sector. Companies might face challenges in sourcing materials and technology, hindering market expansion. To mitigate these risks, strategic planning and diversified supply chains will be essential for sustaining growth.
Competitive Landscape
India Crane Market is fragmented, with numerous players serving the market. The key players dominating India Crane Market include Konecranes India, Action Construction Equipment Ltd (ACE), Kobelco Construction Equipment India Pvt Ltd, TATA Hitachi Construction Machinery Co Pvt Ltd, SANY Group, Escorts Ltd, Liebherr Group, Anupam Industries Limited, Meltech Cranes Pvt Ltd, Santek, TIL Ltd, and Palfinger AG. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and India Crane Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Crane Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Crane Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Infrastructure Development
- 3.2.1.2. Continuous Industrial Growth
- 3.2.1.3. Rising Rental Market
- 3.2.2. Restraints
- 3.2.2.1. Skilled Labor Shortage
- 3.2.2.2. Financing Challenges
- 3.2.3. Opportunities
- 3.2.3.1. Technological Advancements
- 3.2.3.2. Used Crane Market
- 3.2.3.3. Focus on Green Initiatives
- 3.2.4. Challenges
- 3.2.4.1. Price Sensitivity in the Indian Market
- 3.2.4.2. Competition from Imports
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Crane Market: Marketing Strategies
5. India Crane Market Overview
- 5.1. Market Size & Forecast, 2019-2030
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.1.1. Rough Terrain Cranes (RTCs)
- 5.2.1.2. All Terrain Cranes (ATCs)
- 5.2.1.3. Truck Cranes
- 5.2.1.4. Mobile Harbors
- 5.2.1.5. Off-shore Ship Cranes
- 5.2.1.6. Loader Cranes
- 5.2.1.7. Railroad Cranes
- 5.2.1.8. Crawler Cranes
- 5.2.1.9. Tower Cranes
- 5.2.1.10. Others
- 5.2.2. By Load Capacity
- 5.2.2.1. Below 20 Tons
- 5.2.2.2. 20-50 Tons
- 5.2.2.3. 50-200 Tons
- 5.2.2.4. Above 200 Tons
- 5.2.3. By Design
- 5.2.3.1. Stiff Boom
- 5.2.3.2. Knuckle Boom/Telescopic Boom
- 5.2.4. By Application
- 5.2.4.1. Aerospace & Defense
- 5.2.4.2. Automotive & Railways
- 5.2.4.3. Heavy Engineering
- 5.2.4.4. General Engineering
- 5.2.4.5. Mining
- 5.2.4.6. Construction
- 5.2.4.7. Marine
- 5.2.4.8. Shipping & Material Handling
- 5.2.4.9. Energy (Power & Gas)
- 5.2.5. By Region
- 5.2.5.1. North India
- 5.2.5.2. South India
- 5.2.5.3. East India
- 5.2.5.4. West India
- 5.2.1. By Type
6. North India Crane Market
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Load Capacity
- 6.2.3. By Design
- 6.2.4. By Application
7. South India Crane Market
- 7.1. Market Size & Forecast, 2019-2030
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Load Capacity
- 7.2.3. By Design
- 7.2.4. By Application
8. East India Crane Market
- 8.1. Market Size & Forecast, 2019-2030
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Load Capacity
- 8.2.3. By Design
- 8.2.4. By Application
9. West India Crane Market
- 9.1. Market Size & Forecast, 2019-2030
- 9.1.1. By Value (USD Million)
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Load Capacity
- 9.2.3. By Design
- 9.2.4. By Application
10. Competitive Landscape
- 10.1. List of Key Players and Their Offerings
- 10.2. India Crane Company Market Share Analysis, 2023
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
11. Impact of Escalating Geopolitical Tensions on India Crane Market
12. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 12.1. Konecranes India
- 12.2. Action Construction Equipment Ltd (ACE)
- 12.3. Kobelco Construction Equipment India Pvt Ltd
- 12.4. TATA Hitachi Construction Machinery Co. Pvt Ltd
- 12.5. SANY Group
- 12.6. Escorts Ltd
- 12.7. Liebherr Group
- 12.8. Anupam Industries Limited
- 12.9. Meltech Cranes Pvt Ltd
- 12.10. Santek
- 12.11. TIL Ltd
- 12.12. Palfinger AG
- 12.13. Other Prominent Players
13. Key Strategic Recommendations
14. Research Methodology
- 14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 India Crane Segmentation
- Figure 2 India Crane Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 India Crane Market Size, By Value (USD Million), 2019-2030
- Figure 5 India Crane Market Share, By Type, By Value, 2019-2030
- Figure 6 India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Figure 7 India Crane Market Share, By Design, By Value, 2019-2030
- Figure 8 India Crane Market Share, By Application, By Value, 2019-2030
- Figure 9 North India Crane Market Size, By Value (USD Million), 2019-2030
- Figure 10 North India Crane Market Share, By Type , By Value, 2019-2030
- Figure 11 North India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Figure 12 North India Crane Market Share, By Design, By Value, 2019-2030
- Figure 13 North India Crane Market Share, By Application, By Value, 2019-2030
- Figure 14 South India Crane Market Size, By Value (USD Million), 2019-2030
- Figure 15 South India Crane Market Share, By Type , By Value, 2019-2030
- Figure 16 South India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Figure 17 South India Crane Market Share, By Design, By Value, 2019-2030
- Figure 18 South India Crane Market Share, By Application, By Value, 2019-2030
- Figure 19 East India Crane Market Size, By Value (USD Million), 2019-2030
- Figure 20 East India Crane Market Share, By Type , By Value, 2019-2030
- Figure 21 East India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Figure 22 East India Crane Market Share, By Design, By Value, 2019-2030
- Figure 23 East India Crane Market Share, By Application, By Value, 2019-2030
- Figure 24 West India Crane Market Size, By Value (USD Million), 2019-2030
- Figure 25 West India Crane Market Share, By Type , By Value, 2019-2030
- Figure 26 West India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Figure 27 West India Crane Market Share, By Design, By Value, 2019-2030
- Figure 28 West India Crane Market Share, By Application, By Value, 2019-2030
List of Tables
- Table 1 India Crane Market Size, By Value (USD Million), 2019-2030
- Table 2 India Crane Market Share, By Type, By Value, 2019-2030
- Table 3 India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Table 4 India Crane Market Share, By Design, By Value, 2019-2030
- Table 5 India Crane Market Share, By Application, By Value, 2019-2030
- Table 6 North India Crane Market Size, By Value (USD Million), 2019-2030
- Table 7 North India Crane Market Share, By Type , By Value, 2019-2030
- Table 8 North India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Table 9 North India Crane Market Share, By Design, By Value, 2019-2030
- Table 10 North India Crane Market Share, By Application, By Value, 2019-2030
- Table 11 South India Crane Market Size, By Value (USD Million), 2019-2030
- Table 12 South India Crane Market Share, By Type , By Value, 2019-2030
- Table 13 South India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Table 14 South India Crane Market Share, By Design, By Value, 2019-2030
- Table 15 South India Crane Market Share, By Application, By Value, 2019-2030
- Table 16 East India Crane Market Size, By Value (USD Million), 2019-2030
- Table 17 East India Crane Market Share, By Type , By Value, 2019-2030
- Table 18 East India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Table 19 East India Crane Market Share, By Design, By Value, 2019-2030
- Table 20 East India Crane Market Share, By Application, By Value, 2019-2030
- Table 21 West India Crane Market Size, By Value (USD Million), 2019-2030
- Table 22 West India Crane Market Share, By Type , By Value, 2019-2030
- Table 23 West India Crane Market Share, By Load Capacity, By Value, 2019-2030
- Table 24 West India Crane Market Share, By Design, By Value, 2019-2030
- Table 25 West India Crane Market Share, By Application, By Value, 2019-2030
- Table 26 Konecranes India Company Overview
- Table 27 Konecranes India Financial Overview
- Table 28 Action Construction Equipment Ltd (ACE) Company Overview
- Table 29 Action Construction Equipment Ltd (ACE) Financial Overview
- Table 30 Kobelco Construction Equipment India Pvt Ltd Company Overview
- Table 31 Kobelco Construction Equipment India Pvt Ltd Financial Overview
- Table 32 TATA Hitachi Construction Machinery Co. Pvt Ltd Company Overview
- Table 33 TATA Hitachi Construction Machinery Co. Pvt Ltd Financial Overview
- Table 34 SANY Group Company Overview
- Table 35 SANY Group Financial Overview
- Table 36 Escorts Ltd Company Overview
- Table 37 Escorts Ltd Financial Overview
- Table 38 Liebherr Group Company Overview
- Table 39 Liebherr Group Financial Overview
- Table 40 Anupam Industries Limited Company Overview
- Table 41 Anupam Industries Limited Financial Overview
- Table 42 Meltech Cranes Pvt Ltd Company Overview
- Table 43 Meltech Cranes Pvt Ltd Financial Overview
- Table 44 Santek Company Overview
- Table 45 Santek Financial Overview
- Table 46 TIL Ltd Company Overview
- Table 47 TIL Ltd Financial Overview
- Table 48 Palfinger AG Company Overview
- Table 49 Palfinger AG Financial Overview
- Table 50 Other Prominent Players Company Overview
- Table 51 Other Prominent Players Financial Overview
