Static Crane Market Size was valued at USD 13.60 billion in 2023. The Static Crane Market is projected to grow from USD 14.24 Billion in 2024 to USD 21.69 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.4% during the forecast period (2024 - 2032). The rising government initiatives to develop construction industry and the growing demand for public and private building infrastructure are the key market drivers boosting the growth of the Static Crane Market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rapid urbanization and infrastructure development around the world have increased the demand for static cranes. Construction of skyscrapers has increased significantly in several countries such as USA, UK, Germany, and India. This is projected to increase the market value of static cranes during the forecasted timeline. Distribution, storage, and production facilities focus on optimizing space for a variety of activities due to high real estate and rental costs. Heavy equipment such as overhead cranes, gantry cranes and girder cranes can all be integrated for higher stacking. This allows for better utilization of vertical space and maximizes the volumetric area of ​​the storage facility. In addition, the elimination of ground transportation reduces human traffic in industrial workshops. The combined impact of these factors is expected to boost the Static Crane Market share over the forecasted timeline.
Based on types, the global static cranes market is segmented into tower cranes, overhead cranes, and level-luffing cranes. The tower crane segment is estimated to dominate the market during the forecast period. This is due to global growth in construction, shipbuilding, energy, and utilities sector. These cranes are also often used on large infrastructure projects. Tower cranes have high lifting capacity and work efficiently in harsh environmental conditions. These properties will continue to serve as market catalysts. Tower cranes are advantageous because they can lift heavy loads with multiple movements such as jack-up maneuvers, slewing, wire twisting, self-electing, self-climbing, gentle lifting, jungle gyms and trolleys. movement. The primary use of tower cranes is to lift heavy loads of steel. Rapid urbanization along with the need for proper urban land-use planning, and high-rise buildings are expected to further drive the market growth over the forecasted timeline.
Figure1: Global Static Cranes Market, by Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The end-user’s segment of the global static cranes market size includes construction, mining, marine, power & utilities, and others. Static cranes are widely used in the construction industry due to the high demand for material handling at height. However, it is also used in the construction of structures such as bridges, dams, power plants, and industrial plants. In addition, the private and government sectors are investing heavily in building large-scale infrastructure (LSI). They are mainly facilitating investment in large-scale projects such as skyscrapers, railway stations, airports and ports. This will further drive market growth over the forecasted timeline. Moreover, the availability of rental services will further support infrastructure development activities and facilitate the use of static cranes on construction sites.
Figure 2: Global Static Cranes Market, by End-Use, 2022 & 2030 (USD Billion)
Global Static Cranes Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific static crane market accounted for largest market share in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is due to a significant number of key players operating in the region, making it the primary contributor to the market share. In addition, the increasing investments in construction and reconstruction activities in this region will add up to the market demand. According to the National Investment Promotion & Facilitation Agency, the Indian construction and infrastructure industry is anticipated to reach at around USD 738.5 billion by 2022, providing opportunities to the static crane market. Moreover, Various government-backed construction projects are being carried out in China and India. For instance, in October 2021, governments of Dubai and India agreed to develop infrastructure projects, such as industrial parks, multi-purpose towers, logistics centers, medical colleges, and specialized hospitals, in the Indian state of Jammu and Kashmir. Thus, demand for static cranes is increasing in the construction industry, thereby leading to static crane market growth.
Figure 3: Global Static Cranes Market, by region, 2022 & 2030 (USD Billion)
Significant product advances, the rapid urbanization, increase in the building infrastructure projects of the region, and the active involvement of the U.S. and Canadian markets all contribute to the North America success for static crane market. To sustain customer applications, suppliers are utilizing various material combinations. This market is anticipated to showcase a significant growth in North America owing to the increasing government investments in developing new public transport infrastructure. The government of the U.S. is making investments in developing new airports, railway stations, and metro-stations, attributing to the static cranes market. Moreover, the rising urbanization in the U.S. and Canada is compelling the demand for new residential buildings, providing opportunities to the market size expansion.
Europe is one of the prominent regions in the static cranes market in 2022, owing to the factors such as government authorities in Europe are making large investments in new smart city development projects. Countries in the European Union are expected to have over 350 smart cities by 2025, thereby increasing the adoption of advanced construction machines. Furthermore, the increasing number of residential infrastructure projects in Russia, France, and Germany will augment the market growth over the forecast timeline. The France government has developed ‘Big Investment Plan’ with the investment of around USD 66 billion to support regional structural reform. This will help the market to grow in Europe during the projected timeline.
Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, France, the UK, Spain, China, Japan, India, Argentina, UAE, South Africa, Saudi Arabia, and Brazil.
With a strong presence across different verticals and geographies, the global static cranes market is highly competitive and dominated by established, pure-play vendors. Over 30 vendors cater to this market, and they continually innovate their solutions to meet the evolving needs of businesses by adopting new technologies and innovations to make cranes more effective. These vendors have a robust geographic footprint and partner ecosystem to cater to diverse customer segments. The Static Crane Market is highly competitive, with many vendors offering similar products and services.
The major players in the market include SANY Group, XCMG Group, Liebherr International AG, TEREX Corporation, Manitowoc Company Inc., among others. The global Static Cranes market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.
Static Crane Market Type Outlook (USD Million, 2019 -2030)
Static Crane Market End-Use Outlook (USD Million, 2019 -2030)
Global Static Crane Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 13.60 billion |
| Market Size 2024 | USD 14.24 billion |
| Market Size 2032 | USD 21.69 billion |
| Compound Annual Growth Rate (CAGR) | 5.4% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User, and Region |
| Geographies Covered | Europe, North America, Asia-Pacific, Middle East & Africa, and South America. |
| Countries Covered | The U.S, Mexico, Germany, Canada, U.K., France, Spain, Japan, China, India, UAE, Saudi Arabia, South Africa, Argentina, and Brazil |
| Key Companies Profiled | SANY Group, XCMG Group, Liebherr International AG, TEREX Corporation, JASO Tower Cranes, Manitowoc Company Inc., Zoomlion Heavy Industry Science & Technology Co. Ltd., ACE Equipment Company, KITO Corporation, WOLFKRAN International AG |
| Key Market Opportunities | Â Â Â Â Â Â Â Expansion in construction sector |
| Key Market Dynamics | Rapid infrastructure development across the globe Rise in government infrastructure in public and private infrastructure projects |
Static Crane Market Highlights:
Frequently Asked Questions (FAQ) :
The Static Crane Market size is expected to be valued at USD 13.60 Billion in 2023.
The global market is projected to grow at a CAGR of 5.4% during the forecast period, 2024-2032.
Asia- Pacific had the largest share of the global market.
The key players in the market are SANY Group, XCMG Group, Liebherr International AG, TEREX Corporation, JASO Tower Cranes, Manitowoc Company Inc., Zoomlion Heavy Industry Science & Technology Co. Ltd., ACE Equipment Company, KITO Corporation, WOLFKRAN International AG.
The tower crane category dominated the market in 2022.
The construction industry had the largest revenue share of the global market.
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