Crane And Hoist Global Market Analysis, Trends, Growth, Research And Forecast 2033

The new report published by The Business Research Company, titled Crane And Hoist Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the crane and hoist market size has grown strongly in recent years. It will grow from $30.39 billion in 2023 to $32.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The crane and hoist market size is expected to see strong growth in the next few years. It will grow to $41.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.

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Impact Of Increasing Construction Activities On The Crane And Hoist Market
The increasing construction activities are expected to propel the growth of the crane and hoist market going forward. Construction activities encompass the processes of erecting, altering, or repairing structures and infrastructure, typically involving site preparation, building assembly, and the installation of systems and finishes. Construction activities are rising due to increased urbanization, infrastructure development, and demand for new residential and commercial buildings. Cranes and hoists are essential for construction activities to lift heavy materials, equipment, and prefabricated components to heights and locations otherwise inaccessible or impractical by manpower alone. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom Statistics Authority, the construction sector experienced a significant annual increase of 12.7% in 2021 compared to the previous year. In December 2021, monthly construction output increased by 2.0%, attributed entirely to a rise in new projects (3.5%). Furthermore, quarterly production in Q4 2021 rose by 1.0% compared to Q3, driven by growth in both new construction (1.1%) and repair and maintenance activities (0.8%). Therefore, the increasing construction activities are driving the growth of the crane and hoist market.

Innovative Advances In Electric And Hybrid Cranes In The Crane And Hoist Market
Major companies operating in the crane and hoist market are developing technologically advanced solutions, such as electric and hybrid cranes, to better serve customers with advanced features. Electric and hybrid cranes are types of lifting equipment that utilize electric power sources or a combination of electric and alternative energy sources for operation, aiming to reduce emissions and increase efficiency. For instance, in October 2021, Fassi Gru S.p.A., an Italy-based crane manufacturing company, developed an electric crane powered by a lithium battery pack, which can be recharged either by the truck's internal combustion engine while traveling or by mains power. The new smart hybrid technology (SHT) system developed by Fassi introduces a unique capability where a diverse range of crane models, including the Fassi F345RB.2.26 L214 with a lifting capacity up to 40 tm, can operate entirely in electric mode. This innovation addresses growing demand, particularly in Northern Europe, for cranes that can function in urban environments without vehicle movement, eliminating exhaust emissions and minimizing noise pollution. 

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

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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, Tere*x 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

Contents of the report:
1. Executive Summary
2. Crane And Hoist Market Report Structure
3. Crane And Hoist Market Trends And Strategies
4. Crane And Hoist Market - Macro Economic Scenario
5. Crane And Hoist Market Size And Growth
…..
27. Crane And Hoist Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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