Market Size of India Crane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.39 Billion |
| Market Size (2029) | USD 1.92 Billion |
| CAGR (2024 - 2029) | 6.79 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Crane Market Analysis
The India Crane Market size is estimated at USD 1.39 billion in 2024, and is expected to reach USD 1.92 billion by 2029, growing at a CAGR of 6.79% during the forecast period (2024-2029).
The crane market in India is experiencing a significant upsurge primarily driven by the country's rapid urbanization and substantial infrastructural development. This growth trajectory is closely linked to major government projects such as the construction of smart cities, highways and metro projects which have been pivotal in escalating the demand for cranes. Furthermore, the expansion of both residential and commercial real estate sectors is contributing notably to this demand.
The construction sector emerges as the predominant user, employing cranes extensively for high-rise buildings, bridges and other infrastructure projects. Similarly, the manufacturing and industrial sectors are leveraging cranes for heavy lifting in plants and warehouses, while the transport and logistics sector is utilizing them in ports for cargo operations and in various transportation projects.
Regarding the types of cranes in high demand, mobile cranes are leading the market due to their flexibility and ease of mobility making them especially suitable for urban construction sites. Tower cranes are indispensable in the construction of high-rise structures, and crawler cranes are sought after for projects requiring heavy lifting over softer terrains.
The competitive landscape of the Indian crane market comprises both domestic and international players, with competition centered around technology, price, and after-sales service. Companies are increasingly adopting new technologies to enhance efficiency, safety and environmental compliance.
The market is set to maintain a positive growth trajectory adapting to technological innovations and evolving market demands.
