Crane & Hoist Market by Type, Operation, End-use Industry

List of Tables

[197 Pages Report] The Crane & Hoist Market size was estimated at USD 41.92 billion in 2023 and expected to reach USD 44.85 billion in 2024, at a CAGR 6.75% to reach USD 66.25 billion by 2030.

A crane is a machine used for lifting and moving heavy objects horizontally. It usually has a hoist rope, wire, chains, and sheaves. It can lift loads beyond the capacity of human construction workers. Cranes are generally employed in the construction industry, manufacturing heavy equipment, and transportation sectors for loading and unloading freight. A hoist is an instrument used for lifting or lowering a load using a drum or lift wheel around which a rope or chain wraps. It can be manually handled, electrically, or pneumatically driven, using chain, fiber, or wire rope as its lifting medium. Hoists are used in industrial and construction settings to elevate materials and equipment and can be attached to cranes or installed as part of a more complex lifting system. Cranes & hoists are integral to the infrastructure development in construction, are essential for cargo handling in ports and harbors, facilitate production processes in manufacturing plants, and are crucial in excavating and transporting materials in mining operations. The cranes & hoists market is witnessing substantial growth due to increasing infrastructure development coupled with rapid urbanization, growing application of cranes & hoists in manufacturing industries, and stringent safety regulations and requirements. However, the market faces challenges, such as high initial investment associated with cranes & hoists and frequent maintenance and downtown repairs and inspection, which hinder the growth of the market. Expanding demand for rental and leasing services for cranes & hoists and the rising need to upgrade aging infrastructure worldwide presents potential opportunities for the market to grow.

KEY MARKET STATISTICS
Base Year [2023]	USD 41.92 billion
Estimated Year [2024]	USD 44.85 billion
Forecast Year [2030]	USD 66.25 billion
CAGR (%)	6.75%

Type: Burgeoning application of truck-mounted cranes as they are used in a wide array of tasks

Fixed cranes are permanent structures typically used in industrial settings. They have high lift and reach capacities and cannot be moved without being disassembled. Commonly found in factories and warehouses, bridges or overhead cranes consist of parallel runways with an ambulatory bridge that spans the gap. A hoist, the lifting component of the crane, travels along the bridge. They are especially useful for lifting heavy loads and moving them horizontally. Gantry cranes are similar to overhead cranes, except they operate on a runway at the floor level and are supported by freestanding legs. They do not require a building's structural support and are often used in rail yards and shipping ports. Ship-to-shore cranes are towering structures used to load and unload containers from ships. They have a long outreach and can service the largest cargo vessels efficiently. Stacker cranes are designed for automated storage and retrieval systems, especially in warehouse settings. Stacker cranes vertically organize and efficiently manage inventory within a compact foot. Tower cranes are widely used at construction sites to lift materials to various heights. These cranes are characterized by their vertical tower and a horizontal jib. They are anchored to the ground or attached to a building's structure during construction. All-terrain cranes are versatile mobile cranes designed for on- and off-road construction projects. They combine the roadability of truck-mounted cranes with the robustness of rough terrain cranes, featuring multi-axle configurations and all-wheel drive capabilities. Carry Deck Cranes are small, maneuverable cranes that feature a 360-degree rotating boom housed in the center of the machine and a load deck for carrying materials. Crawler Cranes are heavy-duty machines with tracks that provide stability and mobility on various terrains. Floating cranes are specialized lifting devices mounted on ships or barges, designed specifically for operations in marine environments, and are critical in locations where traditional cranes do not have access or cannot be used. Rough terrain cranes are designed for pick-and-carry operations and off-road and rough terrain applications. Equipped with large rubber tires, these cranes are ideal for job sites with uneven ground. They usually have a single engine that powers the crane and the undercarriage. Truck-mounted cranes are mounted on a rubber tire truck chassis, providing good mobility. Their portability allows them to travel at highway speeds and eliminates the need for special transport equipment to get to the job site. Chain hoists are lifting devices used for lower-capacity loads and operate by manually pulling a chain or using electric power to lift and lower a load. Chain hoists are favored for their durability, portability, and ease of maintenance, making them suitable for various applications, including manufacturing, construction, and warehousing. Wire rope hoists utilize a drum around which a wire rope is wound, providing a means to lift or relocate heavy loads. Wire rope hoists are powered by electric or hydraulic motors and are known for their ability to lift larger capacities than chain hoists. Wire rope hoists are commonly used in industrial applications that require high-speed lifting and precise load placement.

Operation: Increasing usage of hybrid cranes and hoists owing to their ability to operate in areas with limited electrical output

Electric cranes and hoists are powered by electricity, utilizing alternating current (AC) or direct current (DC) motors. These devices are widely used in industrial and manufacturing settings due to their high efficiency, ease of control, and capacity for heavy lifting. Electric cranes are often outfitted with variators, allowing for precise speed control, which is crucial for tasks requiring delicate handling and positioning. Hybrid cranes and hoists combine the use of internal combustion engines with electric batteries or capacitors. These systems are designed to capitalize on the strengths of both power sources. The internal combustion engine can offer a powerful boost for heavy lifting and complex tasks, while the electric components generally handle energy management and recovery, as well as providing supplemental power. Hydraulic cranes and hoists utilize pressurized fluid to generate movement and lift loads. This system leverages hydraulic pumps and pistons to transform the energy stored in hydraulic fluid into force, allowing for the efficient lifting of heavy weights. These cranes are well-suited for applications requiring substantial power and are commonly found in construction, shipping, and transportation. One main advantage is their ability to provide consistent torque and precise control irrespective of the load weight.

End-use Industry: Evolving applications of cranes & hoists in the construction industry

The aerospace & defense industry relies on cranes and hoists to construct, maintain, and repair aircraft and defense equipment. These lifting devices are used in the manufacturing of aircraft, the assembly of large components, and the precise positioning of heavy and delicate parts. Cranes and hoists are indispensable in the automotive industry, especially in assembly lines as they can lift and move heavy parts such as engines and chassis. Additionally, the railway sector uses these devices to maintain rail vehicles and infrastructure. The construction industry primarily uses cranes and hoists, which are essential for moving materials and erecting structures. In the energy and power sector, cranes and hoists play a critical role in installing and maintaining heavy machinery and power generation equipment, including turbines, generators, and solar panels. Mining operations utilize various types of cranes and hoists for mineral extraction, equipment maintenance, and material transportation. Shipping and material handling industries heavily depend on cranes and hoists to load and unload cargo ships, manage goods in ports, and move containers within storage facilities.

Regional Insights

In America, and particularly in the United States, the construction industry presents substantial opportunities for cranes and hoists driven by urban development and infrastructure upgrades. The U.S. has experienced a rise in smart crane technology patents, with companies investing in automation and remote operation capabilities to enhance productivity and reduce human error. Canada's vast natural resources sectors, such as mining and forestry, significantly influence the crane & hoist market growth. In South America, energy projects, particularly in renewable sectors, create new opportunities within countries such as Brazil and Chile. Moreover, the South American region's free trade agreements and economic partnerships aim to stabilize the economic landscape and foster foreign investment. The European crane & hoist market is largely regulated by stringent safety standards and environmental regulations. EU consumers have exhibited a keen interest in energy-efficient and low-emission models. Recent investments have been directed toward developing cranes with advanced safety features and electromobility solutions. The Middle East, with its continuous infrastructure and construction projects, particularly in the Gulf countries, provides a robust market for cranes & hoists. Africa's crane & hoist market is emerging, with significant potential due to urbanization and infrastructure projects. In APAC, China is a major country in the crane & hoist manufacturing industry and holds the largest market. New patents in China reflect advancements in automation and the integration of Internet of Things (IoT) technology within cranes and hoists to improve operational efficiency. The crane & hoist market in Japan is growing, owing to strong consumer interest in high-tech and precision equipment. Investment in R&D for sustainable and intelligent material handling solutions is a priority in the Japanese market. India is witnessing substantial growth in the adoption of cranes and hoists, attributed to increased construction activities and industrialization.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Crane & Hoist Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Crane & Hoist Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Crane & Hoist Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., ABUS Kransysteme GmbH, Action Construction Equipment Ltd., Altec Inc., Americrane & Hoist Corp, ANDRITZ AG, Broderson Manufacturing Corp., CARGOTEC CORPORATION, Caterpillar Inc., Cheng Day Machinery Works Co., Ltd., Columbus McKinnon Corporation, CraneTech Inc., Crosby Group, LLC, Demag Cranes & Components GmbH, Elliott Equipment Company, Escorts Kubota Limited, GH CRANES & COMPONENTS, Gorbel Inc., Henan Dafang Heavy Machine Co.,Ltd., Hitachi, Ltd., Hoist UK Limited, Hyundai Motor Company, IHI Corporation, Ingersoll Rand Inc., Integrity Crane Services, Ltd., KATO WORKS CO., LTD., Kistler Crane & Hoist, KITO Corporation, Kobe Steel, Ltd., Komatsu Ltd., Konecranes PLC, Liebherr-International Deutschland GmbH, Liugong Machinery Co., Ltd., Load King, LLC, Mammoet Holding B.V. by SHV Holdings, Manitex International, Inc., Manitowoc Company, Inc., Nucleon Crane Group, Palfinger AG, QMC Cranes, LLC, Santek Equipments Pvt. Ltd., Sany Heavy Industry Co., Ltd., Shanghai Zhenhua Heavy Industries Co., Ltd., Spanco, Inc., Sumitomo Heavy Industries, Ltd., Tadano Ltd., Tata Steel Limited, Terex Corporation, VERLINDE SA, Weihua Group, WH Crane, Xuzhou Construction Machinery Group Co., Ltd., and Zoomlion Heavy Industry Science and Technology Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Crane & Hoist Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Crane
  - Fixed
    - Bridge/Overhead Crane
    - Gantry
    - Ship-to-Shore Cranes
    - Stacker Crane
    - Tower Cranes

Mobile
- All-Terrain Cranes
- Carry Deck Crane
- Crawler Cranes
- Floating Crane
- Rough Terrain Cranes
- Truck Mounted Cranes

Hoists
- Chain Hoists
- Wire Rope Hoists

Operation
- Electric
- Hybrid
- Hydraulic

End-use Industry
- Aerospace & Defense
- Automotive & Railway
- Construction
- Energy & Power
- Mining
- Shipping & Material Handling

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Crane & Hoist Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Crane & Hoist Market?

3. What are the technology trends and regulatory frameworks in the Crane & Hoist Market?

4. What is the market share of the leading vendors in the Crane & Hoist Market?

5. Which modes and strategic moves are suitable for entering the Crane & Hoist Market?

Product Code: MRR-501246436789

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing infrastructure development coupled with rapid urbanization
  - 5.1.1.2. Growing application of cranes & hoists in manufacturing industries
  - 5.1.1.3. Supportive government initiatives for clean energy generation
- 5.1.2. Restraints
  - 5.1.2.1. High initial investment associated with crane & hoist
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing material and design advancements in cranes & hoists
  - 5.1.3.2. Expanding demand for rental and leasing services for cranes & hoists
- 5.1.4. Challenges
  - 5.1.4.1. Frequent maintenance and downtime repairs and inspection
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning application of truck-mounted cranes as they are used in a wide array of tasks
- 5.2.2. Operation: Increasing usage of hybrid cranes and hoists owing to their ability to operate in areas with limited electrical output
- 5.2.3. End-use Industry: Evolving applications of cranes & hoists in the construction industry
5.3. Market Trend Analysis
- 5.3.1. Significant investment in infrastructure development coupled with innovations in crane & hoist in Americas region
- 5.3.2. Supportive government initiatives for industrial development creating demand for cranes & hoists in the Asia-Pacific
- 5.3.3. Growing deployment of cranes & hoists across energy and shipping sectors across the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. Crane & Hoist Market, by Type

6.1. Introduction
6.2. Crane
6.3. Hoists

7. Crane & Hoist Market, by Operation

7.1. Introduction
7.2. Electric
7.3. Hybrid
7.4. Hydraulic

8. Crane & Hoist Market, by End-use Industry

8.1. Introduction
8.2. Aerospace & Defense
8.3. Automotive & Railway
8.4. Construction
8.5. Energy & Power
8.6. Mining
8.7. Shipping & Material Handling

9. Americas Crane & Hoist Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Crane & Hoist Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Crane & Hoist Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Konecranes Supports Chinese Business Expansion With 35-crane Order
- 12.3.2. CraneTech Expands its Reach with the Acquisition of Ameracrane & Hoist
- 12.3.3. Piedmont Hoist & Crane Designs a Large Gantry Crane for the U.S. Navy
- 12.3.4. Large Spider and Mini Crane Launches from Platform Basket
- 12.3.5. Hoist UK Launches Light Crane System Range
- 12.3.6. EMH Launches Single Leg Semi-Gantry Crane
- 12.3.7. Brookside Capital Partners "Hoists" an Investment in American Equipment Solutions
- 12.3.8. Comvest Credit Partners Announces Investment in Hoist & Crane Service Group
- 12.3.9. Compass Group Partners with Hoist & Crane Service Group
- 12.3.10. Konecranes Acquired the Industrial Crane Service Business of Norway's Munck Cranes AS to Strengthen its Nordic Operations
- 12.3.11. Uperio and Geda Expand Partnership
- 12.3.12. American Equipment Holdings Acquires Kistler Crane in Omaha
- 12.3.13. Crosby Group and Kito Merger Completed
- 12.3.14. Konecranes to Expand Its Port Cranes Presence in India with Larsen & Toubro Licensing Agreement
- 12.3.15. American Equipment Expands National Field Service and Equipment Offerings With Acquisition of Shannahan Crane & Hoist

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio