Top 6 Companies Leading the Global Crane Market Landscape

KUBOTA Corporation, Kirloskar Brothers Ltd., KoneCrane Plc, Liebherr-International AG, Sulzer Ltd., and Cargotec Corporation, among others, are the major players in the global crane market. 

The global crane market reached a value of about USD 33.73 billion in 2023. The market is projected to grow at a CAGR of 5.3% in the forecast period of 2024-2032 to reach around USD 53.59 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by rising urbanisation, infrastructure development, construction activities, and industrial expansion.

Cranes, integral to industries like construction, manufacturing, and transportation, serve the pivotal function of effortlessly lifting, lowering, and relocating hefty loads. These machines, equipped with cables, ties, and pulleys, exhibit versatility—some stationary on the ground, while others function as mobile vehicles with control cubicles. Widely employed for hoisting heavy cargo containers and freights, cranes vary in size and design, each tailored for specific tasks within their dynamic applications.

The demand for mobile cranes is shaped by a multitude of factors, underscoring their versatility across diverse applications. Unlike their static counterparts, mobile cranes offer the distinct advantage of easy relocation, seamlessly adapting to various environments and project requirements. This portability makes them particularly well-suited for endeavours involving lifting operations at multiple sites, contributing to their widespread appeal in the market.

Global urbanisation, notably pronounced in developing nations like India with burgeoning populations, prompts heightened government investments in constructing residential and non-residential structures, aiding the crane market growth. The imperative to provide housing and essential infrastructure propels robust demand for cranes worldwide, as these machines play a pivotal role in facilitating efficient construction activities amid escalating urbanisation trends.

In December 2023, Osaka-based Kubota Corp. announced the consolidation of its U.S. manufacturing subsidiaries, Kubota Manufacturing of America Corp. (KMA) and Kubota Industrial Equipment Corp. (KIE), effective January 1, 2024. Recognising the North American market as its largest in the equipment business, the move aimed to streamline operations. KMA, established in 1988 in Gainesville, Georgia, focused on tractor-mounted work equipment, while KIE, founded in 2004 in Jefferson, Georgia, produced medium-sized tractors, construction equipment, and tractor implements. The consolidation reflected Kubota's strategic adaptation to market dynamics.

Top 6 Crane Companies in the World:

KUBOTA Corporation

Kubota Corporation and its subsidiaries, operating globally, manufacture and sell diverse machinery, industrial products, and consumer goods. The Farm & Industrial Machinery segment offers farm equipment, power tools, engines, and construction machinery. The Water & Environment segment provides a wide range of products and services, including pipes, pumps, water purification facilities, and waste treatment equipment. Additionally, the company is involved in engineering services, manufacturing steel products, friction materials, vending machines, and water supply system construction.

Kirloskar Brothers Ltd.

Kirloskar Brothers Limited (KBL), a premier pump manufacturing company and flagship of the Kirloskar Group, specialises in engineering fluid management systems. Catering to diverse sectors like water supply, power plants, and oil & gas, KBL offers comprehensive solutions for large-scale infrastructure projects. With a global footprint and nine manufacturing facilities in India, KBL is a leader in centrifugal pump manufacturing, known for innovation. Supported by a vast network of channel partners and service centres, KBL maintains a prominent global presence.

KoneCrane Plc

Konecranes, a global leader in material handling solutions, stands out in setting industry standards. With a workforce of approximately 16,500 professionals across 50+ countries, Konecranes is relied upon daily to deliver safer, more productive, and sustainable solutions. As a leading group of Lifting Businesses™, it serves diverse sectors, including manufacturing, shipyards, and ports. Committed to enhancing business value, Konecranes provides trusted lifting equipment and services, consistently driving efficiency and performance improvements across various industries.

Liebherr-International Deutschland GmbH

Liebherr Group, a global leader in construction equipment, boasts a decentralised structure with 13 product segments. Governed by a family-exclusive shareholders' committee, the company extends its prowess beyond construction to offer high-quality products and services across diverse industries. With nearly 50,000 employees in over 140 companies worldwide, Liebherr's product range spans Earthmoving, Cranes, Concrete Technology, Mining, Aerospace, Refrigeration, and more. Headquartered in Bulle, Switzerland, Liebherr-International AG, the family-owned parent company, exemplifies the group's global impact.

Sulzer Ltd

Sulzer stands as a worldwide leader in fluid engineering and chemical processing applications, excelling in energy-efficient technologies such as pumping, mixing, and separation. Specialising in solutions that contribute to carbon emission reduction, polymer development from biological sources, and recycling of plastic waste, Sulzer's innovation extends to efficient power storage. With 160 manufacturing facilities and service centres globally, the company's commitment to innovation, performance, and quality positions it as a key player in addressing diverse challenges in fluid engineering and chemical processing.

Cargotec Corporation 

Cargotec, listed on Nasdaq Helsinki (CGCBV), enhances global trade efficiency through its leading cargo handling solutions and services. Comprising business areas Kalmar, Hiab, and MacGregor, Cargotec pioneers innovations in port, sea, and road cargo optimisation. The company, with over 11,000 employees, prioritises making global trade faster, smarter, and more sustainable, emphasising its commitment to creating enduring customer value through streamlined cargo flows and advanced solutions in its diverse business segments.