Press Release
Press Release
According to a new report by EMR titled, ‘The United States Crane Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 6.43 billion in 2023. The crane market is further estimated to grow at a CAGR of 3.6% between 2024 and 2032 to reach USD 8.90 billion by 2032.
The growth of the United States crane market is fueled by the increasing application of cranes in the oil and gas sector for oil rigging along with the construction industry. Cranes are essential in construction, oil and gas, mining, and maritime industries, using cables, pulleys, and sheaves to lift and move heavy objects. Modern cranes employ hydraulic and internal combustion engine systems for enhancing lifting power, supporting complex lifting tasks with coordinated mechanisms.
Fig.: Construction Spending in the United States (USD Million)
In the oil and gas sector, cranes facilitate oil rigging, safe transport of flammable gas containers, and handling bulky items like oil barrels at shipping ports.
The rising popularity of autonomous cranes is driving the market expansion, due to its advanced features like anti-collision mechanisms, remote control from the control room, and onboard cameras for environmental surveillance. These innovations enhance performance efficiency and improve safety by removing workers from hazardous conditions.
The demand for mobile cranes has been witnessing a significant growth due to their versatility, flexibility, and compact design, which make them suitable for projects in urban and crowded landscape. Additionally, fast setup and tear-down times of mobile cranes make them easy to deploy and well-suited for projects with tight deadlines.
The integration of Industry 4.0 technology in crane operations, enabling overload and anti-sway detection as well as issue identification, is boosting the U.S. crane market. Companies are pursuing acquisitions and partnerships to offer custom crane solutions and expand their market presence.
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The major players in the United States crane market are Terex Corporation, The Manitowoc Company, Inc., Manitex International Inc., Gorbel Inc., Buckner Heavylift Cranes, LLC, Konecranes Plc, Liebherr-International Deutschland GmbH, PALFINGER AG, Tadano Ltd., and The Muhibbah Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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