Hydraulic Crane Market Set for 3.86% CAGR Growth, Reaching USD 18 Billion by 2032

Hydraulic crane market set for robust growth, driven by infrastructure projects and advancements in lifting technology, with a promising CAGR forecast

HUDSON STREET, NY, UNITED STATES, January 9, 2025 /EINPresswire.com/ -- The Hydraulic Crane market was valued at USD 12.32 billion in 2022 and is projected to grow at a CAGR of 3.86%, reaching USD 18.0 billion by 2032. This growth is driven by the rising demand for advanced cranes across various sectors such as construction, mining, oil and gas, and infrastructure development. The market is expected to continue its upward trajectory due to infrastructure projects, urbanization, and industrial advancements globally.

📍 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.marketresearchfuture.com/sample_request/23491

𝐊𝐞𝐲 𝐇𝐲𝐝𝐫𝐚𝐮𝐥𝐢𝐜 𝐂𝐫𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

• Technological Advancements: The market is witnessing rapid innovations such as telematics, remote monitoring, automation, and robotics, enhancing crane safety, precision, and operational efficiency.

• Automation and Sustainability: There is a notable shift towards automation and eco-friendly solutions. Manufacturers are introducing remotely operated cranes and greener models to align with global sustainability trends.

• Crawler Cranes' Popularity: Crawler cranes are gaining momentum for their versatility, high load capacity, and stability, making them ideal for heavy-duty applications in infrastructure and construction.

• Compact Cranes: Compact hydraulic cranes are rising in popularity, particularly in urban settings where space constraints limit the use of larger cranes.

• Sensors and IoT Integration: Hydraulic cranes are incorporating sensors and IoT devices for remote monitoring and diagnostics, leading to improved uptime and operational efficiency.

𝐇𝐲𝐝𝐫𝐚𝐮𝐥𝐢𝐜 𝐂𝐫𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

• Infrastructure Development: Rapid urbanization and government-led infrastructure development in emerging economies are major growth drivers. Countries in regions like Asia-Pacific and the Middle East are investing heavily in construction projects, creating significant demand for hydraulic cranes.

• Technological Advancements: The continuous incorporation of cutting-edge technology like load-sensing devices, telematics, and automation is improving crane performance and expanding their applications in various industries.

• Rising Demand from Industrial Sectors: Hydraulic cranes are increasingly being used in industries like mining, oil and gas, and manufacturing for heavy lifting and material handling.

📍 𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=23491

𝐇𝐲𝐝𝐫𝐚𝐮𝐥𝐢𝐜 𝐂𝐫𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

By Capacity: The 21-50 tons segment led the market in 2023, accounting for 35% of revenue share. The up to 20 tons segment is expected to grow at 4.2% CAGR due to demand in residential and commercial projects, while the 51-100 tons segment is set to reach USD 3.2 billion by 2032, driven by demand in large-scale infrastructure projects.

𝐁𝐲 𝐓𝐲𝐩𝐞:

• Telescopic Cranes led with over 35% of the market share in 2023, driven by their adaptability in construction and infrastructure.
• Crawler Cranes are anticipated to grow at the fastest pace due to their stability and high lifting capacities.

𝐁𝐲 𝐁𝐨𝐨𝐦 𝐂𝐨𝐧𝐟𝐢𝐠𝐮𝐫𝐚𝐭𝐢𝐨𝐧:
Lattice Boom Cranes dominate the market but Telescoping Boom Cranes are projected to see higher growth rates.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

• Construction accounted for the largest share in 2023 and will continue to dominate the market, particularly in residential, commercial, and industrial building construction.

• Other significant segments include oil and gas, mining, and wind energy.

𝐇𝐲𝐝𝐫𝐚𝐮𝐥𝐢𝐜 𝐂𝐫𝐚𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
• Asia Pacific (APAC) is expected to lead the market, accounting for 38.2% of the market revenue in 2023. The region’s rapid construction and infrastructure growth, particularly in China, India, and South Korea, will drive this growth.

• North America is also anticipated to experience substantial growth, reaching USD 3.6 billion by 2024, driven by the increasing investment in infrastructure projects.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

• Zoomlion
• Tadano
• Manitowoc Company
• Liebherr Group
• Demag Cranes
• SANY Group

These players are focusing on product innovation, mergers and acquisitions, and geographic expansion to maintain their competitive edge.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

Companies like Liebherr and Tadano are launching new, high-capacity cranes, including mobile and rough terrain cranes, to meet the growing demand for cranes with higher lifting capacities and longer reach.

There is also a shift towards electric and hybrid cranes, along with telematics and data analytics to enhance crane efficiency and safety.
This positive growth trajectory is supported by ongoing investments in technology, infrastructure, and industrial applications, ensuring that the hydraulic crane market will continue to expand through 2032.

𝐓𝐀𝐁𝐋𝐄 𝐎𝐅 𝐂𝐎𝐍𝐓𝐄𝐍𝐓

1. EXECUTIVE SUMMARY
2. MARKET INTRODUCTION
3. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
6. HYDRAULIC CRANE MARKET, BY CAPACITY (USD BILLION)

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