Press Release

United States Crane Market to Grow at a CAGR of 3.6% During 2024-2032, Aided by the Increasing Demand for Cranes in the Oil and Gas Sector for Oil Rigging

United States Crane Market

According to a new report by EMR titled, ‘The United States Crane Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 6.43 billion in 2023. The crane market is further estimated to grow at a CAGR of 3.6% between 2024 and 2032 to reach USD 8.90 billion by 2032.

The growth of the United States crane market is fueled by the increasing application of cranes in the oil and gas sector for oil rigging along with the construction industry. Cranes are essential in construction, oil and gas, mining, and maritime industries, using cables, pulleys, and sheaves to lift and move heavy objects. Modern cranes employ hydraulic and internal combustion engine systems for enhancing lifting power, supporting complex lifting tasks with coordinated mechanisms.

 

Fig.: Construction Spending in the United States (USD Million)

United States Crane Market

 

In the oil and gas sector, cranes facilitate oil rigging, safe transport of flammable gas containers, and handling bulky items like oil barrels at shipping ports.

 

The rising popularity of autonomous cranes is driving the market expansion, due to its advanced features like anti-collision mechanisms, remote control from the control room, and onboard cameras for environmental surveillance. These innovations enhance performance efficiency and improve safety by removing workers from hazardous conditions.

 

The demand for mobile cranes has been witnessing a significant growth due to their versatility, flexibility, and compact design, which make them suitable for projects in urban and crowded landscape. Additionally, fast setup and tear-down times of mobile cranes make them easy to deploy and well-suited for projects with tight deadlines.

 

The integration of Industry 4.0 technology in crane operations, enabling overload and anti-sway detection as well as issue identification, is boosting the U.S. crane market. Companies are pursuing acquisitions and partnerships to offer custom crane solutions and expand their market presence.

 

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Market Breakup by Type, Application, and Region:

  • The market is segmented based on type into mobile cranes, fixed cranes, and marine and port cranes, among others.
  • On the basis of application, the market can be categorised into mining, construction and infrastructure, and oil and gas, among others.
  • By region, the market is categorised into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain and Far West.

 

Key Findings of the Report:

  • The U.S. crane market is booming due to increased infrastructure spending and upgrades in oil and gas facilities to enhance efficiency, driving demand for high-quality cranes.
  • The market is poised for significant growth as companies prioritise cost efficiency to manage essential expenses.
  • Rising crane usage in industries like mining, automotive, and oil and gas is driving the market growth. Additionally, manufacturers are launching advanced cranes that provide construction companies with real-time performance data.
  • Regulations and standards on safety, quality, and sustainability are reshaping industry practices. Compliance ensures products meet set criteria, enhancing consumer trust. This regulatory adherence not only safeguards product integrity but also strengthens market credibility, promoting sustainable growth and consumer confidence.

 

Key Offerings of the Report:

  • The EMR report gives an overview of crane market in the United States for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, application, and region of the United States crane market.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the United States crane market are Terex Corporation, The Manitowoc Company, Inc., Manitex International Inc., Gorbel Inc., Buckner Heavylift Cranes, LLC, Konecranes Plc, Liebherr-International Deutschland GmbH, PALFINGER AG, Tadano Ltd., and The Muhibbah Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Mobile Cranes
  • Fixed Cranes
  • Marine and Port Cranes
  • Others
Breakup by Application
  • Mining
  • Construction and Infrastructure
  • Oil and Gas
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Terex Corporation 
  • The Manitowoc Company, Inc. 
  • Manitex International Inc.
  • Gorbel Inc.
  • Buckner Heavylift Cranes, LLC
  • Konecranes Plc
  • Liebherr-International Deutschland GmbH
  • PALFINGER AG
  • Tadano Ltd.
  • The Muhibbah Group
  • Others

 

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

 

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

 

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