India Crane Market Report and Forecast 2024-2032

India Crane Market Size

The India crane market reached approximately USD 1.02 billion in 2023. The market is projected to grow at a CAGR of 5.1% between 2024 and 2032, reaching a value of around USD 1.60 billion by 2032.

India Crane Market Outlook

• The Indian logistics sector is set to grow in future, with projections indicating a market size of USD 591 billion by the fiscal year 2027.

• By 2025, it is anticipated that the construction sector in India will achieve a value of $1.4 trillion.

• In FY24, India's 12 primary ports handled 819.227 million tonnes of goods, up 4.45% from the previous year.

India Crane Market Growth

The mining sector in India witnessed a total of 1,319 mines reporting mineral production in the fiscal year 2021-22. India's diverse mineral production includes 95 different minerals, ranging from fuel to metallic, non-metallic, atomic, and minor minerals. This abundance of mineral resources has significantly boosted mining activities across the country. Cranes are essential in the mining sector, playing a crucial role in handling heavy loads, transporting materials, and supporting construction and maintenance tasks. In underground mining, cranes are indispensable for moving equipment and materials through shafts and tunnels, improving operational efficiency and safety.

In 2022, the India logistics sector represented 14.4% of the overall GDP of the country, buoyed by technological advancements and the flourishing e-commerce industry. The Indian government is also introducing various initiatives to streamline logistics operations and lower logistics costs. Cranes are essential in the logistics sector, boosting the effectiveness, safety, and efficiency of various activities. From loading and unloading goods to constructing logistics infrastructure and automating warehouse systems, cranes play a crucial role in contemporary logistics. With the sector progressing, the requirement for advanced and dependable crane solutions is anticipated to increase, propelling further advancements and enhancements in crane technology customised to the specific demands of logistics operations.

India Crane Industry Segmentation

“India Crane Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Mobility

• Static

• Mobile

Market Breakup by Type

• Overhead Travelling Crane

• Transporter Crane

• Gantry Crane

• Bridge Crane

• Tower Crane

• Others

Market Breakup by Sales Channel

• OEM

• Aftermarket

Market Breakup by Region

• East India

• West and Central India

• North India

• South India

India Crane Market Share

Based on mobility, the market is segmented into static and mobile. The mobile segment is projected to grow at a CAGR of 5.7% during the forecast period of 2024-2032. Mobile cranes offer numerous benefits across various sectors due to their versatility, efficiency, and ease of use. Their high mobility enables easy transport to different job sites. Additionally, their ability to manoeuvre around a site and quickly reposition makes them ideal for projects that require lifting tasks in multiple locations.

Leading Companies in the India Crane Market

Major market players are focusing on the adoption of advanced technologies to gain a competitive edge.

• Action Construction Equipment Ltd.

• Tata Hitachi Construction Machinery Company Private Limited

• TIL Limited

• Kobelco Construction Machinery Co., Ltd.

• Konecranes

• Cranex Limited

• SNK Project Aiders Pvt Ltd.

• Hydrolift

• Liebherr Group

• Liftboy Industries

• Others

Key Highlights of the Report