Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Hoists and Cranes - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Hoists and Cranes Market to Reach $39.2 Billion by 2030
The global market for Hoists and Cranes estimated at US$27.3 Billion in the year 2022, is projected to reach a revised size of US$39.2 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2022-2030. Mobile, one of the segments analyzed in the report, is projected to record 5.2% CAGR and reach US$24.9 Billion by the end of the analysis period. Growth in the Fixed segment is estimated at 3.7% CAGR for the next 8-year period. 
The report emphasizes the significant role of efficient material handling in driving the growth of the hoists and cranes market. It highlights robust spending on material handling equipment, expanding the market opportunity for hoists and cranes globally.
The U.S. Market is Estimated at $6.1 Billion, While China is Forecast to Grow at 6.8% CAGR
The Hoists and Cranes market in the U.S. is estimated at US$6.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.
Furthermore, the competitive landscape of the hoists and cranes market is examined, including the market share of key competitors worldwide in 2023. Recent market activities and innovations in hoists and cranes are also discussed, providing valuable insights for industry participants and stakeholders.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 821 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $27.3 Billion |
| Forecasted Market Value (USD) by 2030 | $39.2 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- A Recovering Construction Industry Bodes Well for the Hoists & Cranes Market
- Growing Construction Spending to Create a Parallel Rise in Demand for Hoists & Cranes
- Cautious Optimism Amid Challenges for the Mining Industry Bodes Well for Growth in the Market
- Cautious Optimism & Attempts to Balance Risks & Opportunities Leads Mining Companies to Pursue Development of More Growth Options Through Mine Expansions
- Healthy Government Spending on Infrastructure Development Strengthens the Business Case for Hoists & Cranes
- Need to Build Resilient Infrastructure to Ensure Inclusive & Sustainable Industrialization Drives Government Budgets for Infrastructure Projects
- Encouraging Outlook for Automobile Production Despite Disruptions, Bodes Well for the Use of Hoists and Cranes on the Production Floor
- Encouraging Recovery in Automobile Production, Notwithstanding the Many Challenges, Offers Hope for Continued Investments in Hoists & Cranes on the Production Floor
- Massive Shift to Automated Warehousing Technologies Spurs Demand for Hoists & Cranes
- Focus on Improving Intralogistics via Automation to Benefit Market Growth
- Emphasis on Achieving Maritime Efficiency and Effective Port Operations Spurs Demand for Hoists and Cranes in the Shipping Industry
- Emerging Technologies to Revolutionize the Operations of Hoists & Cranes
- Continuous Monitoring & Predictive Maintenance of Hoists & Cranes Storms Into the Spotlight
- Continuous Innovation Remains the Buzzword for Sustained Growth
FOCUS ON SELECT PLAYERS(Total 241 Featured)
- Cargotec
- Columbus McKinnon
- Ingersoll Rand
- Kito
- Konecranes
- Liebherr
- Mammoet
- Manitowoc
- Tadano
- Terex
- XCMG
- Zoomlion
- ZPMC
For more information about this report visit https://www.researchandmarkets.com/r/ha013v
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