Crane And Hoist Market Set to Reach $41.83 Billion by 2029

The Business Research Company

The Business Research Company's Crane And Hoist Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, November 3, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Crane And Hoist Market Through 2025?
Over the past few years, the crane and hoist market's size has seen consistent growth. The market is projected to expand from $32.33 billion in 2024 to $33.81 billion in 2025 with a compound annual growth rate (CAGR) of 4.6%. The growth witnessed during the historic period can be traced back to the rising demand for material handling in the automotive sector, an increase in requirements for heavy lifting within the energy and power industries, a surge in safety regulations, and an escalated need for heavy lifting in shipping and material handling.

The expected surge in growth for the crane and hoist market is anticipated to bring the market value to $41.83 billion by 2029, growing at a compounded annual rate of 5.5%. Factors leading to this increase during the forecast period are due to increased building activities, a burgeoning aerospace and defense sector, expansion of the mining sector, a rise in the need for heavy equipment lifting and a growing demand in the shipbuilding and repairing industry. Future trends envisioned for the said period lean towards the need for tools to handle materials, development in infrastructure, technological progress, software enhancements, and investments in public work initiatives.

Download a free sample of the crane and hoist market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16385&type=smp

What Are The Key Factors Driving Growth In The Crane And Hoist Market?
The boom in construction activities is anticipated to fuel the expansion of the crane and hoist market. These operations, which include the creation, modification, and repair of buildings and infrastructure, typically involve site preparation, assembly of structures, and the installation of systems and finishes. The rise in construction ventures can be attributed to escalating urbanization, infrastructure advancement, and the need for new residential and commercial buildings. In accomplishing these tasks, cranes and hoists are crucial in lifting heavy materials, machinery, and pre-made parts to places that would be unattainable or inefficient solely with human labor. For example, in November 2023, as per the Office for National Statistics, a government agency in the UK, the value of fresh construction work in Great Britain escalated by 15.8% to a record $165.5 billion in 2022. This surge was propelled by increments in both private sector projects ($17.5 billion) and public sector initiatives ($5.1 billion). Also, new construction orders increased by 11.4% to around $100.2 billion, propelled by the expansion in private infrastructure, private commercial ventures, and other public non-housing sectors. A decline was only noticed in the private industrial sector. Hence, the amplified construction activities are stimulating the expansion of the crane and hoist market.

What Are The Top Players Operating In The Crane And Hoist Market?
Major players in the Crane And Hoist include:
• 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.

What Are The Prominent Trends In The Crane And Hoist Market?
Key players in the crane and hoist market are innovating with advanced technology solutions like electric and hybrid cranes to enhance their services with improved features. These cranes, powered by electricity or by a blend of electric and alternative energy sources, are designed to decrease emissions and improve efficiency. As an example, the HIAB WSPR, an advanced electric hybrid crane solution was introduced in March 2024 by Hiab, a company based in Sweden known for its load handling equipment and services. This was aimed at increasing efficiency and mitigating environmental harm. The HIAB WSPR crane operates on two power sources: a truck engine and an electric power take-off (ePTO), which allows for zero emissions and a reduction in carbon footprints by almost 85%. This crane is offered in three styles - Standard, Light Duty, and Heavy Duty and, on full charge, can operate for 1 to 2 days. Its compact battery pack is user-friendly and can be installed in vehicles with limited space. With its quiet operation, it's well-suited for low-emission zones and nocturnal use, making it a sustainable and trustworthy solution for load handling.

Comprehensive Segment-Wise Insights Into The Crane And Hoist Market
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

View the full crane and hoist market report:
https://www.thebusinessresearchcompany.com/report/crane-and-hoist-global-market-report

Global Crane And Hoist Market - Regional Insights
In 2024, the Asia-Pacific region dominated the crane and hoist market. The market report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Browse Through More Reports Similar to the Global Crane And Hoist Market 2025, By The Business Research Company

Overhead Cranes Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/overhead-cranes-global-market-report

Cranes Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/cranes-global-market-report

Rubber Tired Gantry Crane Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/rubber-tired-gantry-crane-global-market-report

Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com

Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

Oliver Guirdham
The Business Research Company
+44 7882 955267
info@tbrc.info
Visit us on social media:
LinkedIn
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.