PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1786338
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1786338
Global Crane Aftermarket Market to Reach US$10.2 Billion by 2030
The global market for Crane Aftermarket estimated at US$7.6 Billion in the year 2024, is expected to reach US$10.2 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2024-2030. Replacement Parts, one of the segments analyzed in the report, is expected to record a 5.8% CAGR and reach US$6.7 Billion by the end of the analysis period. Growth in the Service segment is estimated at 3.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$2.1 Billion While China is Forecast to Grow at 9.0% CAGR
The Crane Aftermarket market in the U.S. is estimated at US$2.1 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$2.2 Billion by the year 2030 trailing a CAGR of 9.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.
Global Crane Aftermarket - Key Trends & Drivers Summarized
The global crane aftermarket has experienced substantial growth, driven by the increasing need for equipment maintenance, part replacements, and performance upgrades across various industries. Cranes play a vital role in construction, manufacturing, shipping, and energy sectors, making aftermarket services essential for ensuring operational efficiency and equipment longevity. As infrastructure projects expand worldwide, particularly in developing economies, the demand for crane refurbishment, retrofitting, and component upgrades has surged. Additionally, companies are increasingly opting for cost-effective maintenance solutions rather than purchasing new cranes, further fueling the growth of the aftermarket sector. The rising trend of automation and IoT-based monitoring systems has enabled predictive maintenance, reducing downtime and optimizing performance. With an aging fleet of cranes in operation across industries, the need for high-quality replacement parts, hydraulic systems, and electronic control modules has become more critical than ever.
The crane aftermarket encompasses a wide range of components, each essential for maintaining optimal equipment performance and safety. Hydraulic systems, including pumps, cylinders, and valves, remain a dominant segment, as they play a crucial role in lifting and movement operations. Mechanical parts such as wire ropes, gears, and bearings are also in high demand due to regular wear and tear in heavy-duty applications. Additionally, the increasing focus on energy efficiency has led to a surge in demand for electric motors, battery packs, and regenerative braking systems in cranes. The market has also witnessed a rising demand for electronic control units (ECUs) and telematics systems that enable real-time monitoring of crane performance, reducing the risk of unexpected failures. The shift towards eco-friendly cranes powered by electric and hybrid systems has further influenced aftermarket trends, with companies investing in retrofitting older cranes with greener technologies.
The crane aftermarket is evolving with the adoption of cutting-edge technologies, including automation, IoT-based diagnostics, and AI-driven predictive maintenance. Smart sensors integrated into cranes now enable remote monitoring of hydraulic pressure, temperature, and load stress, allowing operators to detect potential issues before they escalate into costly breakdowns. The rise of digital twin technology has further enhanced crane performance optimization, allowing fleet operators to simulate real-world conditions and preemptively schedule maintenance tasks. Additionally, advancements in 3D printing have revolutionized spare part manufacturing, enabling rapid production of customized components, reducing lead times, and minimizing supply chain disruptions. The increasing use of AI-powered maintenance management software has allowed companies to streamline service schedules, track equipment performance trends, and optimize inventory management. Furthermore, sustainability initiatives have led to innovations in eco-friendly hydraulic fluids, biodegradable lubricants, and energy-efficient crane control systems.
The growth in the global crane aftermarket is driven by several factors, including rising infrastructure development, increasing automation in material handling, and the expansion of predictive maintenance solutions. The demand for refurbished and retrofitted cranes has surged, particularly in regions with high construction activity and industrial expansion. Additionally, the growing adoption of electric and hybrid cranes has necessitated specialized aftermarket services, including battery replacements and software upgrades. The expansion of the logistics and port handling industry has further propelled the demand for aftermarket crane services, ensuring uninterrupted cargo movement. Moreover, stringent safety regulations have mandated frequent inspections and certifications, contributing to increased demand for aftermarket components and services. The rise of e-commerce and digital platforms has also improved the accessibility of aftermarket parts, enabling crane operators to source components more efficiently. With continuous advancements in automation, telematics, and sustainable crane technologies, the global crane aftermarket is poised for sustained growth, offering enhanced equipment performance and extended operational lifespan.
SCOPE OF STUDY:
The report analyzes the Crane Aftermarket market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Type (Replacement Parts, Service); Application (Mobile Crane Application, Fixed Crane Application)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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