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Base Year
Historical Year
Forecast Year
The Vietnam crane market is projected to grow at a CAGR of 4.8% between 2025 and 2034. The market growth can be attributed to the robust growth of the mining and construction sectors.
Vietnam Crane Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2024 |
Forecast Period | USD Million | 2025-2034 |
Market Size 2024 | USD Million | XX |
Market Size 2034 | USD Million | XX |
CAGR 2018-2024 | Percentage | XX% |
CAGR 2025-2034 | Percentage | 4.8% |
CAGR 2025-2034 - Market by Region | Red River Delta | 5.3% |
CAGR 2025-2034 - Market by Region | Mekong River Delta | 4.6% |
CAGR 2025-2034 - Market by Mobility | Mobile | 5.5% |
CAGR 2025-2034 - Market by Sales Channel | OEM | 5.2% |
Market Share by Region | Red River Delta | 23.7% |
Vietnam is experiencing a surge in mining activities, leading to an increased demand for cranes. In 2020, the mining sector represented 2.4% of the country’s GDP. The country boasts the world’s second-largest deposit of rare earth elements, amounting to 22 million rare earth oxides. As the Vietnamese government aims to surge its rare earth elements production to 2.02 million tonnes per year by 2030, the country has the opportunity to become a significant contributor to rare earth supply chains. This is expected to boost the demand for cranes as they are essential in mining and mineral processing and material supply.
Vietnam is currently experiencing swift urbanisation, marked by a notable rise in residential, commercial, and industrial structures. The government's emphasis on enhancing infrastructure, encompassing roads, bridges, ports, and airports, has resulted in a heightened need for cranes to facilitate these extensive undertakings. The market growth can also be attributed to national initiatives like the National Targeted Programs for New Rural Development and the Sustainable Poverty Reduction Support Program.
The logistics market in Vietnam is growing at an impressive average annual rate of 14–16%. This demonstrates the nation's dedication to improving connectivity and logistics efficiency. When managing large, heavy loads that cannot be handled by other means, cranes are indispensable. For sectors like manufacturing, shipping, and construction where big, heavy objects need to be precisely moved and positioned, this capability is essential. To maximise space utilisation in warehouses and storage yards, cranes make it possible to stack and store goods efficiently. Logistics companies can optimise their storage capacity and streamline their operations with the help of this improved inventory management.
“Vietnam Crane Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
CAGR 2025-2034 - Market by | Mobility |
Mobile | 5.5% |
Static | XX% |
Market Breakup by Mobility
Market Breakup by Type
CAGR 2025-2034 - Market by | Sales Channel |
OEM | 5.2% |
Aftermarket | XX% |
Market Breakup by Sales Channel
CAGR 2025-2034 - Market by | Region |
Red River Delta | 5.3% |
Mekong River Delta | 4.6% |
Southeast | XX% |
South Central Coast | XX% |
Others | XX% |
Market Breakup by Region
Based on mobility, the market is segmented into static and mobile. Mobile cranes are projected to grow at a CAGR of 5.5% during the forecast period of 2025-2034. These adaptable cranes are suitable for a variety of work environments and are capable of lifting a diverse array of loads. They are ideal for hoisting, transporting, and positioning equipment with minimal assembly required, and are frequently utilised in construction, wind power, and HVAC projects.
Market Share by | Region |
Southeast | XX% |
Red River Delta | 23.7% |
Mekong River Delta | XX% |
South Central Coast | XX% |
Others | XX% |
Major market players are focusing on the adoption of advanced technologies and increasing preference for rental services to gain a competitive edge.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2024 |
Forecast Period | 2025-2034 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Mobility |
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Breakup by Type |
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Breakup by Sales Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to grow at a CAGR of 4.8% between 2025 and 2034.
The market is being driven by rapid urbanisation and rising demand for mining and extraction activities.
The key trends aiding the crane market in Vietnam include technological advancements and port and logistics development.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The major market segmentations based on mobility include static and mobile.
The major players in the market are Tadano Ltd., XCMG Construction Machinery Co Ltd., SANY Group, Zoomlion Heavy Industry Sci & Tch Co Ltd., The Manitowoc Company, Inc., and Sumitomo Heavy Industries Construction Cranes Co., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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