Vietnam Crane Market Size, Share, Growth Analysis Report and Forecast Trends (2026-2035)

Vietnam Crane Market Growth

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.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Vietnam Crane Industry Segmentation

Vietnam Crane Market Share

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 2026-2035. 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.

Leading Companies in the Vietnam Crane Market

Major market players are focusing on the adoption of advanced technologies and increasing preference for rental services to gain a competitive edge.

• Tadano Ltd.

• XCMG Construction Machinery Co Ltd.

• SANY Group

• Zoomlion Heavy Industry Sci & Tch Co Ltd.

• The Manitowoc Company, Inc.

• Sumitomo Heavy Industries Construction Cranes Co.

• Others

Vietnam Crane Market Report Snapshots

Vietnam Crane Companies