Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The static crane market is influenced by various market trends that shape its growth trajectory and industry dynamics.
Rise in Infrastructure Development: The static crane market is experiencing growth due to the increasing demand for infrastructure development projects globally. Government initiatives to improve transportation networks, construct new buildings, and enhance urban infrastructure are driving the demand for static cranes for heavy lifting and construction activities. As countries invest in infrastructure to support economic growth and urbanization, the static crane market is poised to benefit from the surge in construction projects.
Expansion of Industrial Sector: The industrial sector's expansion, including manufacturing, oil and gas, power generation, and mining industries, is fueling the demand for static cranes for material handling and equipment installation. Static cranes are essential for lifting heavy machinery, components, and materials in industrial facilities, warehouses, and construction sites. As industries expand their operations and upgrade their infrastructure, the demand for static cranes is expected to grow, supporting market expansion.
Advancements in Crane Technology: Technological advancements in static crane design, automation, and control systems are driving innovation in the market. Manufacturers are introducing advanced features such as remote monitoring, telemetry, collision avoidance systems, and smart load management technologies to enhance crane safety, efficiency, and productivity. The adoption of digitalization and Internet of Things (IoT) solutions is transforming the static crane market, enabling real-time monitoring, predictive maintenance, and data-driven decision-making.
Shift towards Electric and Hybrid Cranes: There is a growing trend towards the adoption of electric and hybrid static cranes to reduce carbon emissions, noise pollution, and operating costs. Electric-powered static cranes offer environmental benefits and energy savings compared to traditional diesel-powered cranes. Additionally, hybrid cranes combine electric and diesel power sources to optimize energy efficiency and performance, making them suitable for various applications in urban areas and environmentally sensitive locations.
Focus on Safety and Compliance: Safety regulations and compliance standards play a significant role in shaping the static crane market. Manufacturers and operators prioritize safety features such as load moment indicators, anti-collision systems, and overload protection devices to ensure crane safety and regulatory compliance. With stringent safety regulations and industry standards in place, the demand for static cranes equipped with advanced safety features is increasing, driving market growth.
Rental Market Growth: The rental market for static cranes is experiencing growth as construction companies, contractors, and industrial operators opt for renting rather than purchasing cranes to meet short-term project requirements and mitigate capital expenses. Rental companies offer a wide range of static cranes on a lease or rental basis, providing customers with flexibility, cost-effectiveness, and access to specialized equipment for specific projects. The growth of the rental market expands the reach of static cranes to a broader customer base and supports market expansion.
Market Consolidation and M&A Activities: The static crane market is witnessing consolidation through mergers, acquisitions, and strategic partnerships among manufacturers and industry players. Companies are consolidating their market positions, expanding their product portfolios, and enhancing their geographic presence through strategic alliances and acquisitions. Market consolidation strengthens competitiveness, fosters innovation, and drives market growth by leveraging synergies and resources within the industry.
Focus on Sustainable Practices: Sustainability considerations are becoming increasingly important in the static crane market, with manufacturers and end-users emphasizing environmentally friendly practices and solutions. Manufacturers are developing eco-friendly cranes with reduced emissions, energy-efficient components, and recyclable materials to minimize environmental impact. Additionally, end-users are implementing sustainable practices such as energy management, emissions reduction, and waste recycling in crane operations to promote environmental sustainability.
Global Economic Factors: Global economic factors such as economic growth, trade policies, and geopolitical developments influence the static crane market's performance and demand trends. Economic downturns or fluctuations in key markets can impact investment decisions, construction activity, and infrastructure spending, affecting the demand for static cranes. Additionally, trade policies, tariffs, and geopolitical tensions can disrupt supply chains and market dynamics, leading to uncertainties in the static crane market.
Emerging Markets and Opportunities: Emerging markets in Asia Pacific, Latin America, and Africa present lucrative opportunities for the static crane market due to rapid urbanization, industrialization, and infrastructure development. Countries investing in mega-projects, transportation networks, and energy infrastructure require static cranes for construction, material handling, and industrial applications. Manufacturers and industry players are expanding their presence in emerging markets to capitalize on growth opportunities and establish a foothold in dynamic regions.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Expansion in construction sector |
| Market Dynamics | Rapid infrastructure development across the globe Rise in government infrastructure in public and private infrastructure projects |
Static Crane Market Highlights:
Global Static Crane Market Overview
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
Static Crane Market Trends
-
Increase in Construction of High-rise Buildings Augmenting Static Crane Market Demand
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.
Static Cranes Market Segment Insights
Static Cranes Type Insights
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
Static Cranes End-Use Insights
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.
Static Cranes Key Market Players & Competitive Insights
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.
Key Companies in the Static Crane Market include.
- 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
Global Static Cranes Industry Developments
- In June 2022, Manitowoc introduced CONNECT, a new digital platform that enables remote monitoring via an app-based system. The platform helps owners and operators view real-time crane information, receive alerts, and share data.
- In June 2022, XCMG launched the XGT15000-600S super-large tower to meet the growing demand for construction and development of large-scale modular bridges. The tower crane weighs 4,000 tons and has a maximum lift of 400 meters.
- In July 2022, Liebherr International AG launched 300 EC-B 12 fiber and 270 EC-B 12 for the EC-B series flat top tower cranes. Both tower cranes have a long service life and a maximum freestanding height of 91.7 meters.
Static Crane Market Segmentation
Static Crane Market Type Outlook (USD Million, 2019 -2030)
- Tower Cranes
- Overhead Cranes
- Level- luffing Cranes
Static Crane Market End-Use Outlook (USD Million, 2019 -2030)
- Construction
- Mining
- Marine
- Power & utilities
- Others (Automotive, Industrial, Etc.)
Global Static Crane Regional Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Argentina
- Brazil
- Rest of South America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
