Industrial Cranes Market Size To Reach $17.38 Billion By 2033

December 2025 | Report Format: Electronic (PDF)

Industrial Cranes Market Growth & Trends

The global industrial cranes market size is anticipated to reach USD 17.38 billion by 2033 and is expected to expand at a CAGR of 5.1% during the forecast period, according to a new report by Grand View Research, Inc. Strong public and private capital expenditure in manufacturing, metals and mining, automotive, aerospace, logistics, and power sectors is the primary engine for industrial crane demand. Investments in new production lines, industrial parks, EV and battery plants, steel capacity expansions, and automated warehousing drive significant uptake of overhead, gantry, and medium- to high-capacity lifting systems. The rise of e-commerce and supply-chain modernization across the Asia Pacific further boosts demand, particularly for cranes used in logistics hubs and distribution centers. Tightening emissions and workplace safety regulations also accelerate replacement cycles, pushing industries toward electric, automated, and digitally enabled cranes.

Electrification, automation, and digital services are opening large addressable markets for OEMs and service providers across factory-floor modernization and warehouse automation. Smart overhead cranes, automated gantry systems, and hybrid or electric powertrains for industrial lifting equipment represent immediate revenue pools. Aftermarket services, including predictive maintenance, spare parts, fleet telematics, and long-term service contracts, offer scalable, recurring income opportunities. Emerging markets in South Asia, the Middle East, and Africa provide greenfield potential as new manufacturing zones, industrial corridors, and heavy-processing facilities expand their material-handling infrastructure.

Emissions rules, noise limits, and decarbonization targets are shifting product preferences toward electric and low-emission industrial cranes, especially in Europe and parts of Asia with aggressive regulatory timelines. Occupational health and safety standards and updated structural design codes are increasing the demand for cranes equipped with overload protection, anti-collision systems, automation-ready controls, and certified inspection frameworks. In addition, trade policies, local content requirements, and incentive programs for industrial modernization shape procurement decisions, influencing supply-chain strategies for OEMs and component manufacturers.

Top market players such as SANY GROUP, Liebherr Group, and XCMG Group are focusing on expanding their technology portfolios, scaling production capabilities, enhancing automation, acquiring complementary companies, and launching new products. For instance, in January 2025, Tadano Ltd. completed the acquisition of IHI Transport Machinery’s transportation system business, which was transferred through the newly formed subsidiary IUK Crane Ltd., soon to be renamed Tadano Infrastructure Solutions Ltd. This move enhances Tadano’s capabilities as a full-range lifting solutions provider and supports its Mid-Term Management Plan. The acquired portfolio, backed by more than five decades of engineering experience in jib climbing, offshore, wind power, and bulk-handling cranes, broadens Tadano’s offerings and complements its established crawler crane range.

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Industrial Cranes Market Report Highlights

Based on type, the overhead cranes segment led the market in 2024, driven by their widespread use in manufacturing, automotive, metals, and logistics facilities where precise indoor material handling and high-duty cycle performance are essential.
Based on power source, the internal combustion engine (ICE) segment led the market, supported by heavy industrial applications in metals, mining, and large fabrication environments where high torque, long operating hours, and off-grid operation remain critical.
Based on capacity, the 10 to 50 Tons segment led the market in 2024 as this range is ideally suited for medium-duty lifting tasks in manufacturing plants, warehouses, automotive production lines, and metal-processing operations undergoing modernization and expansion.
Based on end use, the metal & mining segment led the market in 2024, driven by the growing need for heavy-duty lifting systems in smelters, steel mills, mineral processing plants, and mining-support facilities where high load handling and operational durability are essential.
Some of the key players operating in the additive manufacturing equipment market include Konecranes, Liebherr Group, SANY Group, XCMG Group, Tadano Ltd, The Manitowoc Company Inc, Zoomlion Heavy Industry Science & Technology Co. Ltd, Hiab Corporation, Palfinger, ElectroMech, Anupam Industries Limited, Street Crane Company Limited, GH Cranes & Components, Action Construction Equipment Ltd, and Raimondi.
In August 2024, Konecranes unveiled its new X-series industrial crane, positioned as the successor to the long-running CXT line and designed to set a new benchmark in connected, upgradeable lifting solutions. The crane features a compact structure, a redesigned hoisting motor, improved components for higher efficiency, and a low-headroom S-series hoist using durable synthetic rope. A key feature is its wireless upgrade capability, allowing customers to add Smart Features and receive software updates remotely, reducing downtime and improving flexibility.