Crane and Hoist Market by Size, Share Research Report

Crane and Hoist Market

Crane and Hoist Market is projected to touch USD 36,451 million by 2028, growing at a healthy CAGR of 5.1% over the forecast period (2021-2028). Cranes and hoists refer to the machines used to move materials primarily in the construction sites, assembly lines, and power stations.

Request For a FREE Sample Report on Crane and Hoist Market

Expansion in the construction industry and the growing use of cranes and hoists in the shipping industry are the major factors fueling the crane and hoist market. Rapid urbanization, surging demand for lifting loads in the shipping industry, and aggravating demand for material handling equipment in the aerospace and defense sector have propelled the market growth. Augmenting demand for lifting containers in aerospace, rail, and shipping industries will strengthen the Crane and Hoist Market Growth.

Government across the world is investing in the development of public infrastructures such as urban infrastructure, power and distribution centers, and metro rail networks is projected to raise the market growth. The India National Infrastructure pipeline project of nearly USD 1.6 trillion over six years will result in the development of public infrastructure and a surge in the crane and hoist market. However, the increasing cost of maintenance and safety hazards with cranes and hoists will restrain the Crane and Hoist Market size.

By the end-use industry, the building and construction segment is projected to expand at a higher CAGR over the forecast period. As per the          , expansion in the construction industry has stimulated market growth owing to the rising deployment of cranes and hoists in the construction industry to lift heavy material that is beyond human capacity.

By region, Europe is forecast to raise the market over the forecast period. The strong presence of prominent construction companies such as VINCI, HOCHTIEF Aktiengesellschaft, STRABAG International GmbH, and Bouygues will surge the market growth.  

Crane and Hoist Market Segmentation:

Crane and Hoist Market by Crane Type

·        Fixed Crane

·        Mobile Crane

Crane and Hoist Market by Hoist Type

·        Wire Rope Type

·        Roller Load Chain

·        Welded Link Load Chain

Crane and Hoist Market by Operation (For Hoist)

·        Manual

·        Electric

·        Pneumatic

Crane and Hoist Market by Operation (For Crane)

·        Hydraulic

·        Electric

·        Hybrid

Crane and Hoist Market by End-Use Industry

·        Building and Construction

·        Automatic

·        Energy and Power

·        Shipping and Material Handling

·        Others

Crane and Hoist Market by Region:

·        Asia Pacific

o  China

o  Japan

o  India

o  Rest of APAC

·        North America

o  United States of America

o  Canada

·        Europe

o  United Kingdom

o  Germany

o  France

o  Spain

o  Rest of Europe

·        RoW

o  Brazil

o  South Africa

o  Saudi Arabia

o  UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: www.gmiresearch.com