GITNUX MARKETDATA REPORT 2024

Construction Crane Industry Statistics

The construction crane industry is projected to exhibit steady growth in the coming years, fueled by increasing urbanization and infrastructure development globally.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics and trends in the construction crane industry. From the global market size to regional dominance, growth projections, and specific sector insights, these statistics paint a comprehensive picture of the evolving landscape of crane equipment. Let’s dive into the numbers that shape the construction crane industry.

Statistic 1

"The global construction crane market size was valued at $31.14 billion in 2018."

Statistic 2

"The crane market is expected to grow with a CAGR (Compound Annual Growth Rate) of 6% from 2021 to 2026."

Statistic 3

"North America crane market size was over $2 billion in 2018."

Statistic 4

"The Asia-Pacific region dominated the crane market, with around 38% of the total market share in 2017."

Statistic 5

"The mobile crane sector accounted for 64% of total investment in 2019."

Statistic 6

"China is estimated to account for an approximate 40% share of the global construction crane market."

Statistic 7

"The truck-mounted crane market is anticipated to reach $14 billion by 2027."

Statistic 8

"Rough-terrain cranes hold about 8.3% of the market share globally."

Statistic 9

"The estimated revenue from the tower crane category in India was $754 million in 2018."

Statistic 10

"The Asia-Pacific accounted for more than 60% of the world’s tower crane supply in 2019."

Statistic 11

"The global market for crawler cranes was around $1.64 billion in 2017, and it's expected to rise at a CAGR of 3.9% until 2026."

Statistic 12

"By the end of 2026, more than 67,000 units of crawler cranes are expected to be sold worldwide."

Statistic 13

"The mobile tower crane segment is projected to display the fastest growth, recording a CAGR of 3.3% during the forecast period 2020-2025."

Statistic 14

"The luffing jib tower crane market is expected to reach $472.3 million by 2025."

Statistic 15

"The construction sector is the largest end-use sector for tower cranes, at about 60% globally."

Statistic 16

"The tower crane rental market has been estimated at $21 billion in 2019 and is growing with a CAGR of 7%."

Statistic 17

"The electric segment of the crane market is expected to grow at a CAGR of 7.5% during 2021-2026."

Statistic 18

"In Asia, the crane equipment industry is expected to grow at a CAGR of 5.76% during the period 2017-2021."

Statistic 19

"The global crane rental market size was valued at $19.64 billion in 2019 and is expected to reach $22.90 billion by 2027."

In conclusion, the construction crane industry is experiencing significant growth and development, driven by various factors such as regional market dominance, increasing demand for specific types of cranes, and technological advancements. The market is projected to expand steadily over the coming years, with notable growth in segments like mobile tower cranes and electric cranes. Regions like Asia-Pacific, particularly China and India, are key players in the global crane market landscape. This data underscores the importance and potential for further expansion within the construction crane sector, reflecting a positive outlook for the industry’s future prospects.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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