Crane and Hoist Market

Crane and hoist market is predicted to reach at USD 36,451 million by 2028 at a CAGR of 5.1% during the forecast period.

Introduction of the Crane and Hoist Market Report

Crane and hoist are the machines used for material movement, mainly used in construction sites, container handling, assembly lines, warehouse, power stations, and similar places. The hoist is used to lift and lower load vertically, while a crane can transport material both horizontally and vertically. Cranes are equipped with the element that furnishes the crane’s multi-direction mobility. A combination of the hoist, trolley, and bridge motion fulfils full coverage of the factory floor. Hoists are situated on the horizontal crane beam and connected with the trolley to move back and forward across the bridge. Due to mechanical advantage, the machinery is used to move a heavy load, which is beyond human capability.

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Market Dynamic 

Key Drivers and Emerging Trends

The factors driving the global crane and hoist market include an increase in the demand for lifting the container in the shipping, rail, and aerospace industries, which is the key factor for market growth. For instance, according to one of the leading players in the market, Konecranes, in 2020, 32% of total order for their cranes was received from container handling customers. On dockside, gantry cranes are found at container terminals used to load and unload intermodal containers from berths to a container ship and from berths to ship. The rising demand for general manufacturing, mining will lead to market growth.

In addition, increasing investment by government worldwide for developing public infrastructures such as metro rail networks, power distribution centers, and urban infrastructure is one of the factors that will drive the market demand. For instance, The India National Infrastructure pipeline project of USD 1.6 trillion over six years will lead to public infrastructure development and propel the crane and hoist market growth in the country.

Restraint in the Crane and Hoist Market

However, the high maintenance cost and safety risk associated with cranes and hoists will hamper the market growth. Rough usage of crane and hoist such as exhausting the motor and skipping maintenance will lead to a breakdown and cause risk for safety and be a hefty cost to the business.

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Crane Type- Segment Analysis

Based on the crane type, mobile crane is expected to grow at the higher CAGR in the global Crane and Hoist market during the forecast period. A Mobile crane is a cable-operated crane installed on crawlers or rubber-tire carriers, and it generally operates boom from the end of which a hook is suspended by wire rope. For instance, in 200, Tadano Ltd generated USD 984.15 million, i.e., 58.82% of total revenue through mobile crane.

Buy End-Use Industry – Segment Analysis

Based on the end-use industry, building and construction segment is expected to grow at higher CAGR over the forecast period. The growth in construction will propel the market growth, as cranes and hoist are majorly used on construction sites to move heavy material beyond human capacity. The fixed crane is used to lift and move material along a fixed path, whereas the mobile crane is installed on wheels which can be moved from job site to job site. The Indian construction equipment market is anticipated to grow based on expected growth in infrastructural projects and the rising number of smart cities in the country. Such factors will propel the market growth in the coming years.

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Regional – Segment Analysis:

Based on the region, Europe is expected to grow at a higher CAGR over the forecast period in the global crane and hoist market. The presence of top leading construction companies such as HOCHTIEF Aktiengesellschaft, VINCI, Bouygues, STRABAG International GmbH, among others will lead the market growth. The shipyard industry is one of core end-user industry due to crane & hoist are used to handle heavy load in less time with less manpower. For instance, Konecranes offers shipyard lifting equipment that ranges from small chain hoists to enormous Gantry Cranes, which have lifting capacity of 2,000 tons combined with a 210-meter railspan in a single crane.

Top Market Players 

Various notable players operating in the market, include, Konecranes, Liebherr, Tadano Ltd., Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd, Ingersoll Rand, Palfinger AG, Columbus McKinnon Corporation, Sumitomo Heavy Industries, Action Construction Equipment Ltd., among others.

Key Developments:

• • In 2020, Konecranes acquired MHE-Demag. With the acquisition, Konecranes increased its presence and market coverage in strategically essential and fast-growing Southeast Asia. The acquisition allowed Konecranes to target a total annual collaboration of approximately EUR 10 million at the EBITA level by 2022.

Segments covered in the Report:

The global crane and hoist market has been segmented on the basis of crane type, hoist type, operation (for hoist), operation (for crane), and end-use industry. Based on crane type, the market is segmented into fixed crane, and mobile crane. Based on hoist type, the market is segmented into wire rope type, roller load chain, and welded link load chain. Based on operation (for hoist), the market is segmented into manual, electric and pneumatic. Based on operation (for crane) the market is segmented into hydraulic, electric and hybrid. Based on end-user industry, building and construction, automotive, energy and power, shipping and material handling, and others.

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Key questions answered in this research report:

• • At what pace is global crane and hoist market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in crane and hoist market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global crane and hoist market?
  • Which crane type generated maximum revenues in 2019 and identify the most promising crane type during the forecast period?
  • What are the various hoist type areas of global crane and hoist market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Crane and Hoist Market by Crane Type

• • Fixed Crane
  • Mobile Crane

Global Crane and Hoist Market by Hoist Type

• • Wire Rope Type
  • Roller Load Chain
  • Welded Link Load Chain

Global Crane and Hoist Market by Operation (For Hoist)

• • Manual
  • Electric
  • Pneumatic

Global Crane and Hoist Market by Operation (For Crane)

• • Hydraulic
  • Electric
  • Hybrid

Global Crane and Hoist Market by End-Use Industry

• • Building and Construction
  • Automatic
  • Energy and Power
  • Shipping and Material Handling
  • Others

Global Crane and Hoist Market by Region

• • North America Crane and Hoist Market (Option 1: As a part of the free 25% customization)
    • North America Crane and Hoist Market by Crane Type
    • North America Crane and Hoist Market by Hoist Type
    • North America Crane and Hoist Market by Operation (For Hoist)
    • North America Crane and Hoist Market by Operation (For Crane)
    • North America Crane and Hoist Market by End-User Industry
    • US Crane and Hoist Market All-Up
    • Canada Crane and Hoist Market All-Up
  • Europe Crane and Hoist Market (Option 2: As a part of the free 25% customization)
    • Europe Crane and Hoist Market by Crane Type
    • Europe Crane and Hoist Market by Hoist Type
    • Europe Crane and Hoist Market by Operation (For Hoist)
    • Europe Crane and Hoist Market by Operation (For Crane)
    • Europe Crane and Hoist Market by End-User Industry
    • UK Crane and Hoist Market All-Up
    • Germany Crane and Hoist Market All-Up
    • France Crane and Hoist Market All-Up
    • Spain Crane and Hoist Market All-Up
    • Rest of Europe Crane and Hoist Market All-Up
  • Asia-Pacific Crane and Hoist Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Crane and Hoist Market by Crane Type
    • Asia-Pacific Crane and Hoist Market by Hoist Type
    • Asia-Pacific Crane and Hoist Market by Operation (For Hoist)
    • Asia-Pacific Crane and Hoist Market by Operation (For Crane)
    • Asia-Pacific Crane and Hoist Market by End-User Industry
    • China Crane and Hoist Market All-Up
    • India Crane and Hoist Market All-Up
    • Japan Crane and Hoist Market All-Up
    • Rest of APAC Crane and Hoist Market All-Up
  • RoW Crane and Hoist Market (Option 4: As a part of the free 25% customization)
    • RoW Crane and Hoist Market by Crane Type
    • RoW Crane and Hoist Market by Hoist Type
    • RoW Crane and Hoist Market by Operation (For Hoist)
    • RoW Crane and Hoist Market by Operation (For Crane)
    • RoW Crane and Hoist Market by End-User Industry
    • Brazil Crane and Hoist Market All-Up
    • South Africa Crane and Hoist Market All-Up
    • Saudi Arabia Crane and Hoist Market All-Up
    • UAE Crane and Hoist Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Crane and Hoist Market All-Up

Major Players Operating in the Crane and Hoist (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Konecranes
  • Liebherr
  • Tadano Ltd.
  • Terex Corporation
  • Zoomlion Heavy Industry Science&Technology Co., Ltd
  • Ingersoll Rand
  • Palfinger AG
  • Columbus McKinnon Corporation
  • Sumitomo Heavy Industries
  • Action Construction Equipment Ltd.