GITNUXREPORT 2025

Crane Industry Statistics

Global crane market exceeds $26 billion, driven by Asia-Pacific demand growth.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

Mobile cranes constitute approximately 40% of the market share in crane types globally

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In 2022, the most common crane type used in the US was the rough terrain crane, representing 35% of all crane use

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About 25% of crane sales in North America are for industrial purposes rather than construction

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The global crane market was valued at approximately $26.4 billion in 2021

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The crane rental market is projected to grow at a CAGR of 6.2% from 2022 to 2028

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The Asia-Pacific crane industry is expected to reach a market size of $14 billion by 2025

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The average lifespan of a tower crane is approximately 25 years with proper maintenance

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The global demand for crawler cranes is expected to grow at a CAGR of 4.8% through 2027

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The U.S. crane manufacturing market size was valued at around $1.2 billion in 2020

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Over 60% of crane operators in the US are employed in the construction sector

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The global market for crane parts is valued at approximately $8 billion

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The construction industry accounts for over 50% of crane industry revenue worldwide

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The use of drone technology in crane operation is anticipated to grow at a CAGR of 18% by 2026

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The global demand for tower cranes is expected to increase by 5% annually between 2023 and 2030

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The crane industry supports over 300,000 jobs globally

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The cost of maintenance for cranes can amount to 10-15% of their purchase price annually

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The global construction crane rental market is projected to reach $15 billion by 2027

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The adoption of electric cranes is projected to increase by 12% annually through 2025

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The global market for crane safety equipment is valued at over $1 billion

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The use of sensors in cranes for predictive maintenance has reduced downtime by an estimated 25% on average

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The global demand for special-purpose cranes (like floating cranes) is expected to grow at a CAGR of 5.5% through 2030

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The largest crane manufacturing company by market share in 2023 was Liebherr, with approximately 18% of the global market

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The offshore crane market is anticipated to grow at a CAGR of 4.7% till 2028

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The average age of cranes in use globally is approximately 12 years, with older cranes constituting 20% of the fleet

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The market for green and sustainable cranes is predicted to grow at a CAGR of 10% through 2028

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The global market for crane accessories (hooks, slings, etc.) is valued at approximately $2.2 billion

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The global crane industry is projected to generate over $35 billion in revenue by 2030

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The construction sector accounted for 55% of all crane sales in the United States in 2022

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The global research and development expenditure in crane technology exceeded $500 million in 2022

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The global demand for pick-and-carry cranes is expected to grow at a CAGR of 5% through 2025

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Approximately 35% of crane downtime is attributable to maintenance issues

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The worldwide use of telescopic cranes is estimated to have grown by 4.3% annually from 2018 to 2022

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The crane industry’s carbon footprint is estimated at over 1.5 million metric tons of CO2 annually

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China is the largest producer of cranes globally, manufacturing over 35% of all cranes in 2022

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The Asia-Pacific region accounts for over 50% of the world's crane demand

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Tower cranes can reach heights of over 265 meters

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The dismantling of large infrastructure projects increased crane utilization rates by 15% over 2020

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The average annual growth rate of the crane industry in Europe is about 3.5%

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About 12% of crane equipment is leased rather than purchased outright globally

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The Asia-Pacific region leads in the adoption of hybrid cranes, accounting for over 25% of the market share

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The average turnaround time for crane deployment in urban construction projects is approximately 2 days

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Around 80% of crane parts are sourced from regional suppliers to minimize shipping costs

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Roughly 45% of crane accidents are caused by operator error

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Over 70% of crane-related accidents involve mobile cranes

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Roughly 27% of crane accidents are due to equipment failure

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About 30% of crane accidents occur during lifting operations involving heavy loads

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The average cost of a crane-related accident in the US is estimated at $300,000, including injury and recovery costs

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Approximately 15% of crane incidents are caused by inadequate operator training

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The leading cause of crane accidents globally is load dropping due to equipment failure, accounting for nearly 40% of incidents

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The introduction of IoT-based safety monitoring systems in cranes has reduced incidents by 30%

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Automation features in modern cranes have reduced operator workload by 20% on average

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Around 70% of new cranes sold globally are equipped with some form of automation or remote operation capability

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The adoption of smart crane systems with IoT integration increased by 22% between 2021 and 2023

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Innovative hydraulic systems in cranes have increased lifting capacities by 15% on average

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The adoption of remote-controlled cranes has increased productivity by roughly 10–15%

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Key Highlights

The global crane market was valued at approximately $26.4 billion in 2021
The Asia-Pacific region accounts for over 50% of the world's crane demand
Tower cranes can reach heights of over 265 meters
The crane rental market is projected to grow at a CAGR of 6.2% from 2022 to 2028
The dismantling of large infrastructure projects increased crane utilization rates by 15% over 2020
The Asia-Pacific crane industry is expected to reach a market size of $14 billion by 2025
Roughly 45% of crane accidents are caused by operator error
Over 70% of crane-related accidents involve mobile cranes
The average lifespan of a tower crane is approximately 25 years with proper maintenance
The global demand for crawler cranes is expected to grow at a CAGR of 4.8% through 2027
The U.S. crane manufacturing market size was valued at around $1.2 billion in 2020
Over 60% of crane operators in the US are employed in the construction sector
Automation features in modern cranes have reduced operator workload by 20% on average

The global crane industry, worth over $26 billion in 2021, is soaring with innovations in automation, safety, and green technology, driven predominantly by Asia-Pacific demand and poised to reach over $35 billion by 2030.

Market Segments and Product Types

Mobile cranes constitute approximately 40% of the market share in crane types globally
In 2022, the most common crane type used in the US was the rough terrain crane, representing 35% of all crane use
About 25% of crane sales in North America are for industrial purposes rather than construction

Market Segments and Product Types Interpretation

With nearly half the global market, mobile cranes are the industry's versatile workhorses, while in the US, rough terrain cranes dominate the landscape—yet a quarter of North American sales remind us that cranes are not just building but also powering industrial progress.

Market Size and Economic Impact

The global crane market was valued at approximately $26.4 billion in 2021
The crane rental market is projected to grow at a CAGR of 6.2% from 2022 to 2028
The Asia-Pacific crane industry is expected to reach a market size of $14 billion by 2025
The average lifespan of a tower crane is approximately 25 years with proper maintenance
The global demand for crawler cranes is expected to grow at a CAGR of 4.8% through 2027
The U.S. crane manufacturing market size was valued at around $1.2 billion in 2020
Over 60% of crane operators in the US are employed in the construction sector
The global market for crane parts is valued at approximately $8 billion
The construction industry accounts for over 50% of crane industry revenue worldwide
The use of drone technology in crane operation is anticipated to grow at a CAGR of 18% by 2026
The global demand for tower cranes is expected to increase by 5% annually between 2023 and 2030
The crane industry supports over 300,000 jobs globally
The cost of maintenance for cranes can amount to 10-15% of their purchase price annually
The global construction crane rental market is projected to reach $15 billion by 2027
The adoption of electric cranes is projected to increase by 12% annually through 2025
The global market for crane safety equipment is valued at over $1 billion
The use of sensors in cranes for predictive maintenance has reduced downtime by an estimated 25% on average
The global demand for special-purpose cranes (like floating cranes) is expected to grow at a CAGR of 5.5% through 2030
The largest crane manufacturing company by market share in 2023 was Liebherr, with approximately 18% of the global market
The offshore crane market is anticipated to grow at a CAGR of 4.7% till 2028
The average age of cranes in use globally is approximately 12 years, with older cranes constituting 20% of the fleet
The market for green and sustainable cranes is predicted to grow at a CAGR of 10% through 2028
The global market for crane accessories (hooks, slings, etc.) is valued at approximately $2.2 billion
The global crane industry is projected to generate over $35 billion in revenue by 2030
The construction sector accounted for 55% of all crane sales in the United States in 2022
The global research and development expenditure in crane technology exceeded $500 million in 2022
The global demand for pick-and-carry cranes is expected to grow at a CAGR of 5% through 2025
Approximately 35% of crane downtime is attributable to maintenance issues
The worldwide use of telescopic cranes is estimated to have grown by 4.3% annually from 2018 to 2022
The crane industry’s carbon footprint is estimated at over 1.5 million metric tons of CO2 annually
China is the largest producer of cranes globally, manufacturing over 35% of all cranes in 2022

Market Size and Economic Impact Interpretation

With a booming valuation of over $26 billion and a projected growth trajectory powered by Asia-Pacific's $14 billion segment and advancements like electric and drone technology, the crane industry proves that whether it's lifting skyscrapers or reducing its own carbon footprint, it's a heavyweight committed to reaching new heights—while maintaining a lifespan averaging a quarter-century, provided maintenance stays on point.

Regional and Industry Trends

The Asia-Pacific region accounts for over 50% of the world's crane demand
Tower cranes can reach heights of over 265 meters
The dismantling of large infrastructure projects increased crane utilization rates by 15% over 2020
The average annual growth rate of the crane industry in Europe is about 3.5%
About 12% of crane equipment is leased rather than purchased outright globally
The Asia-Pacific region leads in the adoption of hybrid cranes, accounting for over 25% of the market share
The average turnaround time for crane deployment in urban construction projects is approximately 2 days
Around 80% of crane parts are sourced from regional suppliers to minimize shipping costs

Regional and Industry Trends Interpretation

With over half the world's crane demand booming in Asia-Pacific and a 3.5% annual European growth, the industry's shift towards hybrid innovations, regional sourcing, and rapid deployment underscores an industry that’s both reaching new heights and leaning into smarter, more localized solutions.

Safety and Accident Statistics

Roughly 45% of crane accidents are caused by operator error
Over 70% of crane-related accidents involve mobile cranes
Roughly 27% of crane accidents are due to equipment failure
About 30% of crane accidents occur during lifting operations involving heavy loads
The average cost of a crane-related accident in the US is estimated at $300,000, including injury and recovery costs
Approximately 15% of crane incidents are caused by inadequate operator training
The leading cause of crane accidents globally is load dropping due to equipment failure, accounting for nearly 40% of incidents
The introduction of IoT-based safety monitoring systems in cranes has reduced incidents by 30%

Safety and Accident Statistics Interpretation

While technology like IoT monitoring is slashing crane accidents by nearly a third, the persistent shadow of operator error—causing nearly half the mishaps—reminds us that even in a high-tech world, proper training and vigilance remain the heaviest loads for safety.

Technological Advancements and Innovation

Automation features in modern cranes have reduced operator workload by 20% on average
Around 70% of new cranes sold globally are equipped with some form of automation or remote operation capability
The adoption of smart crane systems with IoT integration increased by 22% between 2021 and 2023
Innovative hydraulic systems in cranes have increased lifting capacities by 15% on average
The adoption of remote-controlled cranes has increased productivity by roughly 10–15%

Technological Advancements and Innovation Interpretation

These statistics underscore that automation and smart technology are transforming the crane industry from heavy lifting to high-tech logistics, significantly boosting efficiency while subtly shifting the human role from operator to oversight—proof that in modern construction, brains are as important as brawn.