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Cranes Market - Global Forecast to 2031

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Saavi
Cranes Market - Global Forecast to 2031

Meticulous Research®, a prominent global market research firm, has released a report titled “Cranes Market by Type (Tower Cranes, Mobile Cranes, Overhead Cranes), Class (Class A {Standby Service}, Class B {Light Service}, Class C), Lifting Mechanism, Control Method, End-use Industry (Construction, Oil & Gas), and Geography - Global Forecast to 2031.”

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The report projects that the cranes market will reach $51.7 billion by 2031, growing at a CAGR of 4.6% from 2024. This growth is driven by rapid urbanization, infrastructure development, increased global trade, and advancements in crane technology. However, high initial investment costs and operational expenses are challenges to market growth.

The rise in smart city initiatives and renewable energy projects also presents significant opportunities for market stakeholders. Conversely, a shortage of skilled operators poses a challenge to growth.

Market Segmentation

The cranes market is categorized by:


Key Insights


Browse in depth @ https://www.meticulousresearch.com/product/cranes-market-5828

Geographic Overview

The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to hold the largest share (~46.0%), fueled by extensive infrastructure development and significant investments in transportation and energy sectors. This region is also experiencing rapid adoption of advanced crane technologies and growth in renewable energy projects, contributing to an anticipated CAGR of ~6.0% during the forecast period.

Key Players

The key players operating in the cranes market include Liebherr Group (Switzerland), Terex Corporation (U.S.), Tadano Ltd. (Japan), Caterpillar Inc. (U.S.), Gorbel Inc. (U.S.), Konecranes Plc (Finland), The Manitowoc Company, Inc. (U.S.), XCMG Group (China), Zoomlion Heavy Industry Science and Technology Co., Ltd. (China), SANY Heavy Industry Co., Ltd. (China), Pelloby Ltd. (U.K.), Demag Cranes & Components GmbH (Germany), Street Crane Company Limited (U.K.), Hitachi Construction Machinery Europe NV (Netherlands), and Komatsu Ltd. (Japan).

Request Customization Report @  https://www.meticulousresearch.com/request-customization/cp_id=5828

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