Crane and Hoist Industry worth $41.56 billion by 2030
The report "Crane and Hoist Market by Mobile Cranes (Lattice Boom, Telescopic Boom, Crawler, Rough Terrain, All-Terrain, Truck-Loader), Fixed Cranes (Industrial, Tower, Ship-to-Shore), Operation (Hydraulic, Electric), Hoist Type, Region - Global Forecast to 2030" The global crane and hoist market is projected to grow from USD 34.68 billion in 2025 to USD 41.56 billion by 2030, at a CAGR of 3.7%. Rising infrastructure investments and the modernization of construction practices drive the need for advanced lifting solutions. Cranes and hoists are no longer just heavy-duty machines; they are becoming smart, connected assets. Integrating digital technologies, including IoT, AI, and automation, reshapes how lifting operations are planned and executed. These systems enhance real-time decision-making, reduce operational downtime, and boost safety and efficiency. With construction demand remaining resilient and smart technologies unlocking new capabilities, the crane and hoist industry is entering a phase of intelligent, performance-driven growth.
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Mobile cranes to hold larger market share throughout the forecast period
Mobile cranes are expected to account for a prominent share of the crane and hoist market throughout the forecast period. Mobile cranes offer key benefits such as high mobility, fast travel speeds, and quick setup, making them ideal for fast-paced and complex job sites. They are widely used in the construction, mining, aerospace, shipping, and material handling industries where the frequent lifting and relocation of heavy materials are critical. Their ability to be rapidly deployed and easily moved between sites gives them a significant advantage over fixed cranes, especially in projects with tight schedules or changing requirements. Mobile cranes reduce downtime, improve project turnaround, and adapt to various terrain and space constraints, making them a preferred choice for industries seeking flexibility, speed, and reliability in lifting operations.
Hydraulic operation segment to lead crane and hoist market throughout forecast period
The hydraulic operation segment is expected to lead the market throughout the forecast period. Growing demand from construction and material handling applications drives the adoption of hydraulic-operated cranes. These cranes offer improved energy efficiency and lower dependency on external power sources, making them ideal for lifting and relocating heavy materials in manufacturing, warehousing, and construction plants; industrial workshops; and transportation hubs. Telescopic hydraulic cylinders, capable of retracting to just 20–40% of their extended length, are particularly useful in confined spaces that require extended reach capabilities. The rising preference for hydraulic cranes is also linked to space limitations common in construction sites, shipping yards, and assembly lines. Their compact design, high lifting capacity, and operational flexibility continue to support their growing use across multiple industrial applications.
Asia Pacific to dominate crane and hoist market during forecast period
The Asia Pacific region will dominate the crane and hoist market throughout the forecast period. It is expected to grow at the highest CAGR from 2025 to 2030. Rapid urbanization, expanding infrastructure, and robust economic growth across China, India, Japan, and Southeast Asian nations fuel construction activity at an unprecedented pace. Projects ranging from residential and commercial buildings to highways, bridges, and industrial facilities drive the need for advanced lifting solutions. In addition to construction, the region's strong presence in manufacturing, automotive, energy, and shipping industries further boosts demand for cranes and hoists in material handling, assembly, and logistics applications. Moreover, the growing adoption of automation, smart construction technologies, and Industry 4.0 integration across these sectors is accelerating the shift toward high-performance, technologically advanced crane systems, reinforcing Asia Pacific’s leadership in the global market.
Key players
The key players operating in the crane and hoist market include Konecranes (Finland), Liebherr (Switzerland), Tadano Ltd. (Japan), The Manitowoc Company, Inc. (US), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Terex Corporation (US), Ingersoll Rand (US), PALFINGER AG (Austria), Columbus McKinnon Corporation (US), KOBE STEEL, LTD. (Japan), XCMG Group (China), Sumitomo Heavy Industries, Ltd. (Japan), ABUS Kransysteme GmbH (Germany), Mammoet (Netherlands), KATO WORKS CO., LTD. (Japan), among others.
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