Featuring market attractiveness scoring, total addressable market sizing, company benchmarking matrices, interactive Excel dashboards, deeper supply chain intelligence, emerging startup tracking, and granular product-level insights, The Business Research Company’s 2026 market reports are built to deliver research that is both more actionable and more strategically valuable.
Crane And Hoist Market Size And Revenue Outlook Through 2030
The crane and hoist market size has shown significant expansion in recent years. It is anticipated to increase from $33.81 billion in 2025 to $35.73 billion in 2026, recording a compound annual growth rate (CAGR) of 5.7%. Throughout the past, this market’s growth has been primarily due to increased investment in industrial infrastructure, a rising adoption of lifting automation, an uptick in construction activities, the expansion of logistics and warehousing sectors, and the development of modern manufacturing facilities.
The crane and hoist market is projected to experience robust expansion over the coming years. By 2030, its valuation is anticipated to reach $43.85 billion, progressing at a compound annual growth rate (CAGR) of 5.2%. This projected growth is driven by factors such as the increasing integration of intelligent lifting controls, a growing need for energy-efficient lifting solutions, the broadening use of automated material handling, the wider embrace of modular lifting designs, and the development of robust composite lifting parts. Key trends expected during this period involve an escalating demand for automated lifting equipment, the proliferation of intelligent safety and load monitoring systems, an increase in remote-controlled crane operations, a greater uptake of energy-efficient hoists, and the continued evolution of modular lifting options.
Get A Free Sample Report With In-Depth Market Insights:
Crane And Hoist Market Expansion Drivers: What’s Shaping Future Growth?
Growing construction activities are anticipated to drive the expansion of the crane and hoist market in the future. These activities involve tasks such as building, modifying, or repairing structures and infrastructure, generally including site readiness, structure assembly, and fitting out systems and finishes. The rise in construction is attributed to greater urbanization, progress in infrastructure, and a demand for new homes and business premises. Cranes and hoists are indispensable for construction, enabling the lifting of heavy items, machinery, and pre-built parts to elevated and difficult-to-reach areas, which would be challenging or impossible with manual labor alone. For example, data from July 2024 provided by Atradius N.V., a Netherlands-based trade credit insurance company, indicated that global construction output saw a 3.7% rise in 2024 over 2023, contributing to an overall yearly growth of 2.0%. Consequently, the expansion of construction activities is fueling the growth within the crane and hoist market.
Crane And Hoist Market Segment Landscape And Growth Outlook
The crane and hoist market covered in this report is segmented –
1) By Type: Crane, Hoist
2) By Operation: Hydraulic, Electric, Hybrid
3) By Application: Construction, Transportation And Logistics, Marine, Oil And Gas, Mining, Agriculture, Other Applications
Subsegments:
1) By Crane: Bridge Cranes, Gantry Cranes, Jib Cranes, Tower Cranes, Overhead Cranes, Mobile Cranes
2) By Hoist: Electric Hoists, Manual Hoists, Pneumatic Hoists, Chain Hoists, Wire Rope Hoists
Crane And Hoist Market Strategic Trends: What Defines The Next Growth Phase?
Major companies within the crane and hoist market are advancing technologically sophisticated solutions, such as electric and hybrid cranes, to better cater to customers with enhanced functionalities. These electric and hybrid cranes represent types of lifting apparatus that utilize either electric power sources exclusively or a combination of electric and alternative energy sources for their operation, with the aim of reducing emissions and improving efficiency. For instance, in March 2024, Hiab, a Sweden-based provider of load handling equipment and services, introduced the HIAB WSPR, a next-generation electric hybrid crane system engineered to boost efficiency and lessen environmental impact. The HIAB WSPR crane incorporates dual power sources, functioning on both a truck engine and an electric power take-off (ePTO), which enables emission-free performance and cuts carbon footprints by as much as 85%. Available in three different configurations—Standard, Light Duty, and Heavy Duty—it delivers up to 1–2 days of operation on a full charge, thanks to a compact battery pack that is straightforward to install, making it well-suited for vehicles with limited space. Its quiet performance is ideal for areas with low-emission restrictions and for nighttime operations, offering a sustainable and dependable load-handling capability.
Crane And Hoist Market Competitive Landscape: Who Leads The Industry?
Major companies operating in the crane and hoist market are Kubota Corporation, Kobe Steel Ltd., Liebherr-International GmbH, Sany Group, Hitachi Construction Machinery Co. Ltd., Sumitomo Heavy Industries Ltd., Ingersoll Rand Inc., Zoomlion Heavy Industry Science & Technology Co. Ltd., Cargotec Corporation, Shanghai Zhenhua Heavy Industries Co. Ltd, Terex Corporation, Konecranes, The Manitowoc Company Inc., PALFINGER AG, Tadano Ltd., Columbus McKinnon Corporation, Kito Corporation, Kobelco Construction Machineru USA Inc., Action Construction Equipment Ltd., ABUS Kransysteme GmbH, Wolffkran International AG, Gorbel Inc., STAHL CraneSystems GmbH, Street Crane Company Limited, XCMG Group
View The Full Crane And Hoist Market Report:
Crane And Hoist Market Geographic Landscape: Which Region Leads Industry Growth?
Asia-Pacific was the largest region in the crane and hoist market in 2025. The regions covered in the crane and hoist market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Reach Out To Our Team:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
