India Crane Market to Reach US$ 5.2 Billion by 2032, Stimulated by the Increasing Demand for Safe Loading Solutions

August 17, 2023 | Heavy Industry

According to the latest report by IMARC Group, titled “India Crane Market Report by Product Type (Mobile Cranes, Marine and Port Cranes, Fixed Cranes), Application (Construction and Infrastructure, Mining, Oil and Gas, and Others), and Region 2024-2032,” the India crane market size reached US$ 3.4 Billion in 2023. A crane is a heavy-duty mechanical device that is used for lifting and moving heavy objects in various industrial and construction settings. It comprises a hoist, cables, and pulleys that enable it to lift and transport materials with precision and efficiency. It is widely available as mobile, tower, and overhead cranes that cater to specific lifting requirements. It can reach more heights and handle substantial weights efficiently. Besides this, it assists in enhancing productivity, streamlining operations, and ensuring the safe handling of materials. As it is widely utilized in construction sites, manufacturing plants, ports, and warehouses, to lift heavy loads from one place to another, the demand for cranes is rising in India.

India Crane Market Trends:

At present, the rising adoption of cranes, as they easily handle heavy materials with greater efficiency and safety, represents one of the primary factors strengthening the growth of the market in India. Besides this, the growing demand for cranes due to the rising number of infrastructure and construction activities in the country is offering a positive market outlook. Apart from this, the increasing employment of cranes for material handling, assembly line processes, and equipment installation while increasing productivity is bolstering the growth of the market in India. Moreover, the rising integration of telematics and the Internet of Things (IoT) solutions in cranes to enable real-time monitoring, remote diagnostics, and predictive maintenance, enhancing operational efficiency, and minimizing downtime, is impelling the growth of the market in the country. Additionally, the increasing employment of cranes to streamline operations at construction sites is supporting the growth of the market in the country. Furthermore, key players are introducing eco-friendly and energy-efficient cranes to reduce carbon emissions in the environment, which is contributing to the growth of the market in India. Looking forward, the market value is projected to reach US$ 5.2 Billion by 2032, expanding at a CAGR of 4.6% during 2024-2032.

Market Summary:

Based on the product type, the market has been classified into mobile cranes, marine and port cranes, and fixed cranes. At present, mobile crane dominates the market, holding the largest share.
On the basis of the application, the market has been segregated into construction and infrastructure, mining, oil and gas, and others. Presently, construction and infrastructure represent the largest segment.
Region-wise, the market has been segmented into North India, West and Central India, South India, and East India. Amongst these, North India enjoys the leading position in the market.
The competitive landscape of the market has also been examined.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Application, Region
Region Covered	North India, West and Central India, South India, East India
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