India Crane Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The India Crane Market is segmented by Machine Type (Mobile Cranes, Fixed Cranes, Marine and Port Cranes), by Application (Construction, Mining and Excavation, Marine and Offshore, Industrial, and Others)

Market Snapshot

india crane market_overview
Study Period: 2018-2027
Base Year: 2021
CAGR: >5 %

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Market Overview

The India Crane Market is anticipated to register a CAGR of over 5% during the forecast period 2020 - 2025.

Infrastructure and industrial development have played a crucial role in the Indian economy over the past few years. The Indian government is expected to increase its spending on public infrastructure to meet its ambitious development plans. Furthermore, the government’s plans, such as 100 smart cities, are expected to boost construction activity in the country and increase the demand for construction equipment. These increased investments and the growing construction sector are expected to drive the Indian crane market further in the future.

In February 2020, the National Buildings Construction Corporation (NBCC) in India planned the redevelopment of three government projects worth INR 32,000 crore in the national capital and is expected to complete the work within the next three years. The desire for luxurious living has created a demand for a larger number of residential buildings with grand interiors. These growing construction activities in India have created the demand for cranes. The industry is poised for rapid growth in the coming years, with major investment plans in infrastructure and construction. The demand is likely to be driven by an increase in investment in the industries across India, by both domestic and international companies.

Scope of the Report

The India Crane Market report analyzes the Indian Construction Sector, investments happening across the construction, mining, marine and industrial sector, latest product launches, demand for cranes, and market shares of major crane manufacturers in the country. The market is segmented by machine type and application.

Machine Type
Mobile Cranes
Fixed Cranes
Marine and Port Cranes
Mining and Excavation
Marine and Offshore

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Key Market Trends

Growth in Construction Industry to drive the Market Growth

Over the past few years, the construction industry has seen a huge growth, which has created a demand for construction equipment.

The crane market in India started growing post-2016, as the Central government and various state governments initiated heavy construction projects like Smart City projects, metro rail projects. Moreover, projects like Dedicated Freight Corridor is also expected to boost the construction industry, thereby creating a demand for cranes.

India needs approximately USD 7 trillion over the next seven years. This demand itself would trigger a construction equipment (CE) business of around USD 180-200 billion at the current rate of equipment penetration over the next decade. In 2019, the Central government announced plans to increase the investment in the infrastructure sector by investing about USD 1.39 trillion over the next five years.

Indian roadways are the second-largest in the world. Owing to the increasing number of vehicles and traffic, the government is planning to further extend the roadways in the coming years. Moreover, the Ministry of Road Transport and Highway is planning to award road projects with a total length of around 4,500 km worth USD 7.15 billion. Increasing investments in the infrastructure sector and other strategic initiatives of the government are expected to boost the construction sector in the country, in turn, propelling the demand for cranes in the country.

Moreover, the construction of new cities becomes an epicenter of infrastructure activities like construction of bridges, flyover, laying of pipelines, etc., creating a demand for cranes. For instance, the state government of Gujarat is developing Gujarat International Finance Tec-City (GIFT), which is India’s first operational smart city and international finances services center. The city is likely to cover a construction area of 8.5 million square meters, with 200 skyscrapers. The state government is also developing double corridor metro system to connect GIFT city to the nearby airport and various parts of Ahmedabad and Gandhinagar.

The government of India is also constructing one of the largest greenfield airport projects in the world named Navi Mumbai International Airport (NMIA). The first phase of the airport will be able to handle more than 20 million passengers annually and the airport will be expanded to handle more than 90 million passengers annually.

Thus, the ongoing projects and the growing investment from the foreign players and government side are driving the crane market in the country. Therefore, the market studied is anticipated to grow over the forecast period.

india crane market_segment

Mobile Crane to Experience high growth rate

The market studied has been segmented by machinery type, which includes mobile cranes, fixed cranes, and marine and port cranes, among others. Among the different types of cranes, mobile cranes account for the maximum share of the market studied, followed by fixed cranes and marine and port cranes.

In the past few years, the construction industry in India has seen a high growth rate, owing to high economic growth. Various heavy construction projects like metro projects, railway projects, flyovers, and bridges have increased the demand for heavy-duty mobile cranes over the past few years. The demand for mobile cranes is likely to grow, especially higher tonnage cranes used in several application segments.

Apart from this, the use of mobile cranes is also increasing in refinery expansion projects, and the renewable energy sector is also driving the demand for mobile cranes. However, presently, the various ongoing and future projects like railway projects, flyover projects, metro projects are the most promising.

Various government initiatives to encourage the growth of infrastructure and construction industry are also creating a demand for mobile crane segment. With the government’s focus on infrastructure, the crane business is showing gradual signs of improvement. Additionally, the rental industry plays a major role in the mobile crane segment of the market studied.

india crane market_segment2

Competitive Landscape

Some of the prominent players in the India Crane Market are Action Construction Equipment Ltd, Escorts Ltd., TIL Ltd., Liebherr-International Deutschland GmbH, and Kobelco Construction Equipment among others. The growth of the market studied is characterized by the trend in material handling systems, which is expected to be greatly focused on designing lighter and high-efficiency equipment during the forecast period.

Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Value Chain / Supply Chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Machine Type

      1. 5.1.1 Mobile Cranes

      2. 5.1.2 Fixed Cranes

      3. 5.1.3 Marine and Port Cranes

    2. 5.2 Application

      1. 5.2.1 Contruction

      2. 5.2.2 Mining and Excavation

      3. 5.2.3 Marine and Offshore

      4. 5.2.4 Industrial

      5. 5.2.5 Others


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Konecranes

      2. 6.2.2 Action Construction Euipment Limited

      3. 6.2.3 Kobelco Construction Euipment India

      4. 6.2.4 Tata Hitachi Construciton Machinery

      5. 6.2.5 SANY Group

      6. 6.2.6 Escorts Ltd.

      7. 6.2.7 Liebherr Group

      8. 6.2.8 Anupam Industries Limited

      9. 6.2.9 Meltech Cranes Pvt. Ltd.

      10. 6.2.10 Santek

      11. 6.2.11 TIL Ltd.

      12. 6.2.12 Palfinger AG


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Frequently Asked Questions

The India Crane Market market is studied from 2018 - 2026.

The India Crane Market is growing at a CAGR of >5% over the next 5 years.

Action Construction Equipment Limited, Liebherr Group, Kobelco Construction Equipment India, SANY Group , Konecranes are the major companies operating in India Crane Market.

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