- Rapid industrialization in the U.S. and Canada has significantly boosted the need for efficient material handling systems, thereby accelerating the demand for cranes and hoists
- Technological advancements, such as automation and integration of smart sensors, are transforming traditional crane and hoist systems, allowing for improved safety, real-time diagnostics, and operational efficiency
- U.S. crane and hoist market accounted for the largest revenue share of 78% in 2024 within North America, driven by robust infrastructure development and the revival of construction and manufacturing sectors
- Canada is expected to witness the highest compound annual growth rate (CAGR) in the North America crane and hoist market due to rising construction activity, modernization of existing industrial facilities, and increased emphasis on workplace safety
- The mobile cranes segment accounted for the largest market revenue share in 2024, driven by their flexibility, ease of transport, and suitability for varied terrain across construction and infrastructure projects. These cranes are widely used in outdoor sites where fixed installations are impractical, such as roadworks and bridge building. The high utility of mobile cranes in short-term, high-capacity lifting makes them a preferred choice for contractors
