Crane & Hoist
Crane & Hoist Market by Type (Crane, Hoists), Operation (Electric, Hybrid, Hydraulic), End-use Industry - Global Forecast 2024-2030
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[187 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.

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.

Crane & Hoist Market
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Market Dynamics

The market dynamics represent an ever-changing landscape of the Crane & Hoist Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Increasing infrastructure development coupled with rapid urbanization
    • Growing application of cranes & hoists in manufacturing industries
    • Supportive government initiatives for clean energy generation
  • Market Restraints
    • High initial investment associated with crane & hoist
  • Market Opportunities
    • Ongoing material and design advancements in cranes & hoists
    • Expanding demand for rental and leasing services for cranes & hoists
  • Market Challenges
    • Frequent maintenance and downtime repairs and inspection
Market Segmentation Analysis
  • 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.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Crane & Hoist Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Crane & Hoist Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Crane & Hoist Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Crane & Hoist Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Crane & Hoist Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Crane & Hoist Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Crane & Hoist Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Crane & Hoist Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Crane & Hoist Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Crane & Hoist Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The Crane & Hoist Market Research Report from 360iResearch was pivotal for Kobe Steel, Ltd. in navigating supportive government initiatives for clean energy generation. Before utilizing the report, we faced significant challenges in aligning our operations with these initiatives due to a lack of clear direction and actionable insights. The comprehensive data and well-structured strategies provided by the report enabled us to make informed decisions and capitalize on emerging opportunities. Not only did we improve operational efficiency, but we also saw a notable increase in our market share and profitability. This report has been instrumental in driving our success in a highly competitive market, and we couldn't be more satisfied with the results.
Kobe Steel, Ltd.
FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Crane & Hoist Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Crane & Hoist Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Konecranes Supports Chinese Business Expansion With 35-crane Order

    Konecranes, a global frontrunner in the manufacture of cranes and lifting equipment, secured a sizable order for 35 cranes in a significant move to facilitate business growth in China. This substantial procurement by a major multinational will be crucial in augmenting the client's multiple production sites across the burgeoning Chinese market. This strategic alliance enhances Konecranes' presence and penetration in the Chinese market and reflects its capability to deliver large-scale lifting solutions that are critical to industrial expansion and productivity. [Published On: 2023-11-24]

  • CraneTech Expands its Reach with the Acquisition of Ameracrane & Hoist

    CraneTech Inc., an esteemed provider of crane services, announced the strategic acquisition of Americrane & Hoist Corp., a revered player in the industry headquartered in Tulsa, Oklahoma. With Ameracrane's twenty-plus years of experience, CraneTech fortifies its presence in the central United States, emphasizing its continued commitment to regional investment and aligning core values. [Published On: 2023-11-16]

  • Piedmont Hoist & Crane Designs a Large Gantry Crane for the U.S. Navy

    Piedmont Hoist & Crane, a manufacturer in the lifting equipment industry, developed an advanced gantry crane for use by the United States Navy. This substantial endeavor showcases the company's engineering prowess and ability to meet complex demands, as it involves designing one of the largest gantry cranes tailored to specific requirements of military applications. The crane will significantly enhance the Navy's operational efficiency by facilitating the handling and transporting of heavy materials. [Published On: 2023-11-10]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Crane & Hoist Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The Crane & Hoist Market Research Report from 360iResearch provided us with valuable insights and actionable strategies, which played a crucial role in tackling challenges we faced in the growing application of cranes & hoists in manufacturing industries. The detailed findings helped us optimize our operations, leading to increased efficiency and reduced costs. Our overall satisfaction with the report is extremely high, as it significantly influenced our strategic planning and operational success.
Xuzhou Construction Machinery Group Co., Ltd.
Key Company Profiles

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

Crane & Hoist Market - Global Forecast 2024-2030
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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

As ABUS Kransysteme GmbH, we were grappling with the increasing demand for rental and leasing services for cranes and hoists. The Crane & Hoist Market Research Report from 360iResearch provided us with valuable insights and actionable strategies. We leveraged the trends and data to tailor our services, leading to enhanced client satisfaction and operational efficiency. This report positively impacted our growth trajectory. Highly recommend!
ABUS Kransysteme GmbH
This research report offers invaluable insights into various crucial aspects of the Crane & Hoist Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Crane & Hoist Market, by Type
  7. Crane & Hoist Market, by Operation
  8. Crane & Hoist Market, by End-use Industry
  9. Americas Crane & Hoist Market
  10. Asia-Pacific Crane & Hoist Market
  11. Europe, Middle East & Africa Crane & Hoist Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 656]
  16. List of Companies Mentioned [Total: 53]
Cranes & Hoists Lifting Stuff Like a Pro with the Power and Precision
June 13, 2024
Cranes & Hoists Lifting Stuff Like a Pro with the Power and Precision
Cranes & hoists are the unsung heroes behind the scenes, facilitating the smooth flow of goods and materials in countless industries and their versatility make them indispensable in modern-day operations.

In the world of heavy lifting and material handling, cranes & hoists stand as the stalwarts of efficiency and productivity. Whether it’s constructing skyscrapers, loading cargo onto ships, or maneuvering heavy machinery in industrial settings, these mechanical marvels play a crucial role in various industries.

Cranes & hoists are the muscle behind building everything from skyscrapers to bridges. They're like the ultimate construction buddies, lifting heavy stuff and making it look easy. Factories rely on cranes & hoists to keep things moving smoothly. They help with everything from assembly line operations to moving heavy machinery around. Ever wonder how all those goods get loaded and unloaded at ports and warehouses? Yep, cranes & hoists! They're the workhorses of the shipping world. Even in the depths of mines, cranes & hoists are hard at work. They help extract minerals, move heavy equipment, and keep everything running smoothly underground.

Cranes & hoists are getting smarter and more autonomous. It's like something out of a sci-fi movie, with machines doing all the heavy lifting while we sit back and watch. Recently, in November 2023, Piedmont Hoist & Crane developed an advanced gantry crane for use by the United States Navy. This substantial endeavor showcases the company's engineering prowess and ability to meet the specific requirements of military applications. As technology continues to evolve, expect cranes & hoists to reach new heights of innovation, from towering tower cranes shaping skylines to nimble jib cranes maneuvering in tight spaces and driving productivity and sustainability across diverse sectors.

Frequently Asked Questions
  1. How big is the Crane & Hoist Market?
    Ans. The Global Crane & Hoist Market size was estimated at USD 41.92 billion in 2023 and expected to reach USD 44.85 billion in 2024.
  2. What is the Crane & Hoist Market growth?
    Ans. The Global Crane & Hoist Market to grow USD 66.25 billion by 2030, at a CAGR of 6.75%
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    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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