Cranes Global Market Report 2026

Cranes, machines equipped with hoisting mechanisms, lift and transport heavy objects using lift and wire ropes, sheaves, levers, and pulleys for mechanical advantage.

• Cranes come in three primary types: mobile, fixed, and marine. Mobile cranes are adept at lifting and maneuvering goods over short distances, utilizing fundamental machinery. Known for their lightweight and easy mobility, these cranes offer a cost-effective solution for construction firms. Their applications span across construction, mining, industrial, oil & gas, and various other sectors where their versatility and mobility are advantageous.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are affecting the cranes market by increasing costs for imported steel structures, hydraulic systems, electronic controls, engines, and precision lifting components required for crane manufacturing. Construction, mining, and oil and gas sectors in North America, Europe, and Asia-Pacific are most impacted due to dependence on cross-border component sourcing and global supply chains. These tariffs are contributing to higher equipment prices and extended delivery timelines. At the same time, they are driving localized manufacturing, increased aftersales service revenues, and innovation in modular crane designs that reduce reliance on imported components.

The cranes market research report is one of a series of new reports from The Business Research Company that provides cranes market statistics, including cranes industry global market size, regional shares, competitors with a cranes market share, detailed cranes market segments, market trends and opportunities, and any further data you may need to thrive in the cranes industry. This cranes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cranes market size has grown strongly in recent years. It will grow from $41.24 billion in 2025 to $43.43 billion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to growth in construction and infrastructure development, expansion of mining and energy projects, rising urbanization activities, availability of diverse crane configurations, increasing use in industrial facilities.

The cranes market size is expected to see strong growth in the next few years. It will grow to $53.52 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing investments in smart construction equipment, expansion of renewable energy installations, rising demand for automated lifting solutions, growth of large-scale infrastructure projects, focus on low-emission crane technologies. Major trends in the forecast period include increasing adoption of smart crane control systems, rising demand for high-capacity lifting solutions, expansion of mobile and all-terrain cranes, growing use of cranes in infrastructure projects, enhanced focus on operator safety.

The rising global expenditure on construction activities is driving the cranes market. Rapid industrialization, urbanization, and strong economic growth in emerging markets have contributed to increased spending on construction worldwide. Higher construction spending is expected to boost the demand for cranes, as on-site construction teams invest in faster and more efficient material-handling equipment to ensure safe operations and minimize human risk. For example, in February 2025, the U.S. Census Bureau, a government agency, reported that construction spending in 2024 reached approximately US$2,154.4 billion, a 6.5% increase from the roughly US$2,023.7 billion spent in 2023. Therefore, rising construction expenditure is expected to drive demand for cranes during the forecast period.

Leading companies in the crane market are prioritizing the development of advanced solutions, such as wireless upgrade capabilities, to enable cranes to receive software updates over the air. This technology allows devices or equipment to be remotely upgraded via Wi-Fi or mobile networks, enhancing flexibility and future-proofing the equipment. For example, in August 2024, Konecranes, a Finland-based material handling solutions company, introduced the Konecranes X-series industrial crane. This crane, designed for lifting capacities of up to 20 tons, integrates a wireless upgrade capability that enables it to adapt to evolving customer needs. It also features an ergonomic control system for improved operator comfort, an upgraded hoisting motor for greater efficiency, and environmentally friendly components. Additionally, the crane is equipped with TRUCONNECT Remote Monitoring, offering real-time insights into crane usage to optimize performance and maintenance.

In January 2025, Tadano Ltd., a Japan-based construction equipment manufacturer, acquired Manitex International for approximately $223 million. Through this acquisition, Tadano aims to expand its global presence in crane manufacturing, particularly enhancing its footprint in North America and Europe by integrating Manitex's established brands and distribution networks. Manitex International is a US-based manufacturer of mobile truck cranes, aerial work platforms, and industrial lifting solutions.

Major companies operating in the cranes market are Liebherr Group, Xuzhou Heavy Machinery Co. Ltd, Zoomlion India Pvt. Ltd, Zhenhua Heavy Industries Co. Ltd, SANY Heavy Equipment Co. Ltd, Terex Corporation, Cargotec Oyj, PALFINGER AG, The Manitowoc Company Inc., Tadano Ltd, Action Construction Equipment Ltd., Yongmao Holdings Limited, WOLFFKRAN International AG, Kobelco Cranes Co. Limited, Favelle Favco Group, JASO Tower Cranes, Eng Cranes Srl, Konecranes PLC, Sumitomo Heavy Industries Construction Cranes Co. Ltd, Shandong Huaxia Group Co. Ltd, SENNEBOGEN Maschinenfabrik GmbH

Asia-Pacific was the largest region in the cranes market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the cranes market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the cranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The crane market consists of sales of deck cranes, crawler cranes, floating cranes, rough terrain cranes, truck-mounted cranes, bridge/overhead cranes, bulk-handling cranes, and hammerhead cranes among others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Cranes Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses cranes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for cranes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The cranes market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product Type: Mobile; Fixed; Marine
• 2) By Business Type: Crane Manufacturing And Supply; Crane Rental And Leasing Services; Installation, Maintenance And Aftermarket Services; Integrated Crane Solutions Providers
• 3) By End-User: Construction; Mining; Industrial; Oil And Gas; Other End-Users
• Subsegments:
• 1) By Mobile: Truck-mounted Cranes; All-terrain Cranes; Rough Terrain Cranes; Crawler Cranes; Telescopic Cranes
• 2) By Fixed: Tower Cranes; Gantry Cranes; Overhead Cranes (Bridge Cranes); Jib Cranes; Monorail Cranes
• 3) By Marine: Ship-mounted Cranes; Offshore Cranes; Knuckle Boom Marine Cranes; Pedestal Cranes
• Companies Mentioned: Liebherr Group; Xuzhou Heavy Machinery Co. Ltd; Zoomlion India Pvt. Ltd; Zhenhua Heavy Industries Co. Ltd; SANY Heavy Equipment Co. Ltd; Terex Corporation; Cargotec Oyj; PALFINGER AG; The Manitowoc Company Inc.; Tadano Ltd; Action Construction Equipment Ltd.; Yongmao Holdings Limited; WOLFFKRAN International AG; Kobelco Cranes Co. Limited; Favelle Favco Group; JASO Tower Cranes; Eng Cranes Srl; Konecranes PLC; Sumitomo Heavy Industries Construction Cranes Co. Ltd; Shandong Huaxia Group Co. Ltd; SENNEBOGEN Maschinenfabrik GmbH
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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