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Market forecast for the top 12 crane manufacturers, 2023-28

August 2, 2023  By Don Horne

According to a report by IMARC Group, Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, the global crane market size reached $49.2 billion in 2022, and is expected to reach $ 65.2 billion by 2028, exhibiting a growth rate (CAGR) of 4.6 per cent during 2023-2028.

The global crane market outlook report includes competitor and regional analysis, and contemporary advancements in the market. (All numbers are in US dollars.)

Explore the Full Report with Charts, Table of Contents, and List of Figures:

The global market is majorly driven by widespread product adoption across the construction industry. This can be attributed to growing investments in infrastructural development projects and the rising remodelling and reconstruction activities.


Additionally, the expansion of renewable energy sources, such as wind and solar power, is impelling the demand for cranes as they are utilized for the installation and maintenance of wind turbines, solar panels, and other renewable energy infrastructure.

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Some of the Top Crane Manufacturers Operating in the Market are Given Below:

  • Cargotec
  • Konecranes
  • Liebherr-International
  • Manitowoc
  • Terex
  • XCMG Group
  • American Crane and Equipment
  • Badger Equipment
  • Broderson
  • IHI Construction Machinery
  • Link-Belt Construction Equipment
  • Kobelco Cranes

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