Product Launch (Blog)

Feb, 20 2021

North America Crane and Hoist Market is Expected to Grow with the CAGR of 4.9% in the Forecast Period of 2021 to 2028

North America Crane and Hoist Market is forecasted to grow with significant CAGR owing to factor such as growing demand for rising construction activities in North America region due to various ongoing infrastructural projects is driving the market for cranes and hoists in the region. The maintenance cost for the heavy equipment such as crane is very high, which might restraint the growth of the market.

Crane and hoist market has shown an exceptional penetration in countries such as U.S. and Canada among others. The demand for cranes are rising in aerospace industry as it needs reliable material handling equipment to handle the delicate components of the aircrafts and spacecraft while assembling, which is creating an opportunity for the market.

Crane and Hoist Market Scenario

According to Data Bridge Market Research, the market for crane and hoist in the U.S. has the highest market share followed by Canada and Mexico. Market leader is Konecranes which accounts an estimated market share of approximately 20-25% in the region. The company has gained outstanding sales through their crane and hoist. The market is witnessing large number of new developments in cranes and hoists for fulfilling the demand for every applications of material handling for expanding their product portfolio.

For instance,

  • In September 2020, Konecranes has launched three new products for lifting which are innovative new S-series which will use synthetic rope and S and M-series cranes which will offer real time data analysis and provide insights via Konecranes customer portal. This new launch has helped the company to expand their portfolio and strengthen their position in the market.

North America Crane and Hoist MarketTrends Impacting the Market

Now the question is which other regions Konecranes, Terex Corporation and Liebherr-International Deutschland GmbH are targeting? Data Bridge Market Research has estimated a large growth in the U.S. crane and hoist market and the market leaders targeting Canada and Mexico to be their next revenue pockets for 2021.

The crane and hoist market is becoming more competitive every year with companies such as Konecranes, Terex Corporation and Liebherr-International Deutschland GmbH as they are the market leaders for North America crane and hoist market. Data Bridge Market Research new reports highlight the major growth factors and opportunities in the crane and hoist market.

For more analysis on the crane and hoist market request for a briefing with our analysts:-

Crane and Hoist Market Development in 2020

  • In March 2020, The Manitowoc Company, Inc. has launched their two new Grove all-terrain crane at ConExpo. This new all-terrain crane GMK6400-1 is of 450 USt (400t) capacity. This launch of new terrain cranes will help the company to expand their offerings.

Scope of the Crane and Hoist Market

North America crane and hoist market is segmented on the basis of countries into the U.S., Canada and Mexico.

All country based analysis of crane and hoist market is further analyzed based on further segmentation. On the basis of type, the market is segmented into mobile cranes and fixed cranes. On the basis of operations, the market is segmented into hydraulic, electric and hybrid. On the basis of industry, the market is segmented into shipping & material handling, construction, mining, aerospace & defense, automotive & railway, marine, energy & power and others. 

To know more about the study:-

Key Pointers Covered in Crane and Hoist Market Industry Trends and Forecast to 2028

  • Market Size
  • Market Standards and Changes
  • COVID 19 Impact on the Market
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Konecranes
  • Terex Corporation
  • Liebherr-International Deutschland GmbH
  • The Manitowoc Company, Inc.
  • Ingersoll Rand
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Columbus McKinnon Corporation
  • Mammoet
  • Shanghai Zhenhua Heavy Industries Co., Ltd. (ZPMC)

Above are the key players covered in the report, to know about more and exhaustive list of crane and hoist companies’, contact us.

Research Methodology: North America Crane and Hoist Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Manufacturers, Distributors, and Industrial Professionals among others
  • Supply Side: Manufacturers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Service Consultants and Regulatory Affairs Managers among others.

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