Crane Market Size to Reach USD 43.78 Billion by 2031, Driven by Rising Construction and Infrastructure Development, Says Mordor Intelligence
HYDERABAD, India, Oct. 15, 2026 /PRNewswire/ -- According to the latest report by Mordor Intelligence, the crane market size is expected to grow from USD 35.82 billion in 2026 to USD 43.78 billion by 2031, registering a CAGR of 4.10% during the forecast period. Rising investments in public infrastructure, large-scale construction projects, and renewable energy installations are supporting demand for cranes across different applications. Government-funded transportation projects, industrial development, and private construction initiatives are creating opportunities for equipment manufacturers and rental providers. The expansion of wind and solar energy facilities is also increasing the need for specialized lifting equipment. In addition, the adoption of electric and hybrid cranes, along with telematics and fleet management systems, is helping operators improve equipment utilization, reduce downtime, and manage operating costs.
Crane Market Trends and Drivers
Growth in Renewable Energy Installations: The expansion of renewable energy projects is creating new opportunities in the crane market, particularly for equipment used in offshore wind farms and large-scale solar installations. Wind energy developments require specialized cranes to install heavy turbine components, while solar projects depend on mobile cranes for handling equipment and support structures. Growing investment in clean energy is also increasing the need for lifting solutions for maintenance, repairs, and component replacement. These requirements are encouraging crane manufacturers to develop equipment suited to the changing needs of renewable energy infrastructure.
Expansion of Infrastructure Projects: Infrastructure upgrades are supporting demand in the crane market as governments and private companies invest in transportation networks, energy systems, data centers, and industrial facilities. These projects require reliable lifting equipment to handle heavy materials and prefabricated structures. The growing use of modular construction is also increasing the need for cranes that offer precise lifting and placement. Meanwhile, workforce training initiatives are helping address operator shortages and support the timely execution of major construction projects.
"Mordor Intelligence's crane market analysis combines reported market data with a consistent assessment of demand drivers, competitive conditions, and regional developments, providing decisionmakers with a transparent basis for evaluating market opportunities and comparing growth prospects across segments and geographies." says Phani Kumar, Senior Research Manager, Mordor Intelligence.
Crane Market Share by Region
The Middle East and Africa crane market is benefiting from major infrastructure developments, particularly in Saudi Arabia, where large-scale projects are creating demand for tower cranes and heavy-lifting equipment. Local manufacturing partnerships are helping improve equipment availability and reduce reliance on imports. Investment in petrochemical facilities and other industrial projects is further expanding the use of cranes across the region.
Asia-Pacific remains an important region for the crane market, supported by infrastructure spending in China and expanding industrial construction in India. Investments in port automation and transportation facilities are increasing the need for efficient lifting equipment. Meanwhile, Japan and South Korea are generating demand through facility upgrades, maintenance activities, and modernization projects.
Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights: https://www.mordorintelligence.com/ja/industry-reports/crane-market?utm_source=prnewswire
Crane Industry Segmentation
By Type
- Mobile Crane
- Fixed Crane
- Marine and Offshore Crane
By Capacity
- Up to 50 T
- 51 to 150 T
- 151 to 300 T
- Above 300 T
By Power Source
- Diesel
- Hybrid
- Fully Electric
By Boom Type
- Lattice Boom
- Telescopic Boom
By Application
- Construction and Mining
- Energy and Utilities
- Shipbuilding and Ports
- Industrial Manufacturing
- Logistics and Warehousing
Crane Industry Companies
- Liebherr-International AG
- Tadano Ltd.
- Konecranes Plc
- Manitowoc Co.
- XCMG Group
- Terex Corporation
- SANY Group
- Zoomlion Heavy Industry Sci and Tech
- Kobelco Construction Machinery
- Palfinger AG
- Hitachi Sumitomo Cranes
- Favelle Favco Group
- Cargotec Oyj (Hiab)
- Sarens NV
- Mammoet
- Link-Belt Cranes
- Altec Inc.
- Effer SpA
- Bocker Maschinenwerke
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About Mordor Intelligence
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