North America Crane Market Report and Forecast 2024-2032

North America Crane Market Size

The North America crane market reached around USD 7.13 billion in 2023. The market is projected to grow at a CAGR of 3.7% between 2024 and 2032 to reach nearly USD 9.89 billion by 2032.

North America Crane Market Outlook

• The USA’s crane and tower operating industry employed nearly 42,260 workers on a median wage of USD 64,690.

• The USA’s iron and steel mills employ nearly 1,950 crane and tower operators, which represents 2.33% of the total employment. 

• The aerospace industry provides USD 96,540 worth of annual wages to tower and crane operators.

North America Crane Market Growth

In 2022, the U.S. construction industry attained a size of nearly $2.8 trillion. The industry has an annual contribution of roughly 4.3% to the domestic GDP. It employed nearly 7.8 million people in January 2023, which represented around 2.9% of the total American workforce. The average rate of yearly turnover of the sector was 65% in 2021. Between 2016 and 2021, the annual revenues generated by the industry has risen at a rate of 2.7%.

In 2023, the overall expenditure on the US construction sector amounted to USD 1.823 trillion. The construction of new housing units recorded a year-on-year growth of 12.8% in January 2023, reaching 1,406,000. This is expected to accelerate the demand for cranes, as they play a critical role in the lifting and positioning of heavy construction materials and ensure the occupational safety of workers. They also expedite the speed and efficiency of the construction processes, thereby leading to the market growth. In Q4 2022, the demand for cranes surged by 7.04%, which can be attributed to the rise in the construction of mixed-use and housing projects, which constituted 73% of all new buildings.

Canada’s manufacturing industry makes an annual contribution of USD 174 billion to its domestic GDP, which represents over 10% of its annual economic growth. Manufacturers export over USD 354 billion worth of goods annually, which indicates the robust growth potential of the industry between 2024 and 2032. This is expected to favour the demand for different cranes over the forecast period.

North America Crane Industry Segmentation

North America 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 Country

• United States of America

• Canada

North America Crane Market Share

Based on region, the market is segmented into United States and Canada. The USA is projected to dominate the market, representing 90% of the overall market share. Over the forecast period, Canada is expected to grow at a CAGR of 4.1%, due to the anticipated growth of the construction sector.

Leading Companies in the North America Crane Market

The integration of advanced sensors, AI, and machine learning tools is expected to facilitate the execution and delivery of highly complex tasks on-site without requiring direct human supervision, thereby leading to the market growth.

• 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.

• Broderson Manufacturing Corp. 

• Others

Key Highlights of the Report