Hyderabad – October 15, 2026 -- The global crane market will grow from USD 35.82 billion in 2026 to USD 43.78 billion by 2031, a gain of USD 7.96 billion at a 4.10% CAGR, according to a new Mordor Intelligence report.
Public infrastructure and renewables drive lifting demand
Government-funded transport projects, industrial development and private construction are creating opportunities for equipment manufacturers and rental providers. Data centers and energy systems are also on the list of infrastructure categories requiring heavy lifting equipment. Growing use of modular construction raises demand for cranes that deliver precise lifting and placement.
Wind and solar build-outs add a specialized segment. Wind projects, including offshore farms, need cranes to install heavy turbine components. Solar projects rely on mobile cranes to handle equipment and support structures. Maintenance, repair and component replacement at clean energy sites add further demand.
Electric and hybrid cranes and telematics target downtime and costs
Operators are adopting electric and hybrid cranes alongside telematics and fleet management systems to improve equipment utilization, cut downtime and manage operating costs. Workforce training initiatives are intended to ease operator shortages and keep major construction projects on schedule.
Saudi Arabia anchors Middle East and Africa demand for tower cranes
Large-scale projects in Saudi Arabia are lifting demand for tower cranes and heavy-lifting equipment in the Middle East and Africa. Local manufacturing partnerships are improving equipment availability and reducing reliance on imports. Investment in petrochemical facilities and other industrial projects is widening crane use across the region.
Asia-Pacific demand rests on China, India, Japan and South Korea
In Asia-Pacific, infrastructure spending in China and industrial construction in India support the market. Port automation and transportation investments raise the need for efficient lifting equipment. Japan and South Korea generate demand through facility upgrades, maintenance and modernization projects.
The report segments the market by type (mobile, fixed, marine and offshore), capacity (up to 50 T to above 300 T), power source (diesel, hybrid, fully electric), boom type and application. Profiled players include Liebherr-International AG, Tadano Ltd., Konecranes Plc, Manitowoc Co., XCMG Group, Terex Corporation and SANY Group.