Against the backdrop of accelerated global infrastructure construction, the rise of the new energy industry, and the promotion of the “dual carbon” goal, the crane industry is entering a critical stage of structural transformation and high-quality development. As core equipment in the construction machinery field, the technological iteration and market expansion of cranes are always closely linked to global economic development and industrial policy orientation. Combining the latest industry data, this article analyzes the development status, core trends, and global market pattern of the crane industry from 2025 to 2030, providing references for industry practitioners and investors.
I. Industry Development Status: Steady Expansion of Market Scale, China Leads Global Growth
The global crane market is showing a steady growth trend. According to market research data, the global crane market size was approximately 32 billion US dollars in 2024, of which the Chinese market accounted for 38.5%, ranking first in the world steadily. It is expected that from 2025 to 2030, the global market size will continue to climb at a compound annual growth rate of 6.8%, and is expected to exceed 45 billion US dollars by 2030, while the share of the Chinese market is expected to further increase to more than 42%.
From the perspective of the Chinese market, the industry’s market size reached 328 billion yuan in 2024, a year-on-year increase of 14.5%, of which mobile cranes accounted for 58%, tower cranes accounted for 27%, and overhead and gantry cranes accounted for 15%. This growth is mainly due to the large-scale domestic infrastructure investment and the concentrated launch of new energy projects. In 2024, China’s new wind power installed capacity reached 85GW, and new photovoltaic installed capacity exceeded 120GW, directly driving a surge in demand for large-scale hoisting equipment. At the same time, driven by the “Belt and Road” initiative, China’s crane exports continue to heat up, especially in the Southeast Asian market, where the penetration rate has increased by 22 percentage points within five years, and exports have accounted for 43% of the global market share.
II. Core Development Trends: Intelligence, Greenization, and Maximization Become Mainstream
1. Accelerated Intelligent Transformation, Technology Empowers Operational Efficiency
With the in-depth integration of 5G, artificial intelligence, digital twin and other technologies, crane intelligence has become the core development direction of the industry. The Ministry of Industry and Information Technology’s “Action Plan for the Innovative Development of Intelligent Equipment Industry” clearly requires that the intelligence rate of construction machinery should reach 45% by 2025, forcing enterprises to accelerate the research and development of innovative products such as intelligent control systems and remote operation and maintenance platforms. At present, leading enterprises such as XCMG and Zoomlion have launched intelligent cranes equipped with 5G technology, achieving technological breakthroughs of 30% higher operation accuracy and 15% lower energy consumption. Some high-end models have realized AI-based anti-sway control and remote operation functions. It is expected that by 2030, remote control systems based on 5G+AI will cover more than 60% of high-end models, and the application of digital twin technology will reduce equipment maintenance costs by 35%.
2. Accelerated Green Transformation, Surge in Penetration Rate of New Energy Products
Driven by the global “dual carbon” goal, environmental protection standards are continuously upgraded, and the crane industry is accelerating its transformation to new energy directions such as electrification and hydrogenation. The sales share of electric cranes in China reached 28% in 2024, and is expected to exceed 50% by 2030. In addition to lithium-ion electric cranes, the commercialization process of hydrogen-powered cranes is also accelerating. Their advantages of zero emissions and long battery life make them highly potential in large-scale engineering scenarios. It is expected that the share of new energy crane products will exceed 20% by 2027. At the same time, the application of lightweight materials (such as carbon fiber booms) has also become an important direction of green transformation, which can reduce the weight of equipment by 18% while increasing the load capacity by 20%.
3. Maximization and Specialization of Products, Adapting to High-End Application Scenarios
With the surge in demand for high-end application scenarios such as offshore wind power, large-scale petrochemicals, and nuclear power plants, crane products are developing towards large-tonnage and specialization. In the offshore wind power field, the demand for 1600-ton offshore cranes has surged due to the advancement of floating wind power projects; in the construction field, large-tonnage truck cranes above 800 tons have become the focus of research and development to adapt to the hoisting needs of prefabricated buildings. At the same time, the niche market of special cranes is developing rapidly. The profit margin of niche markets such as offshore floating cranes and special hoisting equipment for nuclear power plants is generally 8-10 percentage points higher than the industry average. It is expected that the market size of special cranes will exceed 80 billion yuan by 2030.
III. Global Market Pattern: Intensified Concentration of Leading Enterprises, Differentiated Development of Regional Markets
The global crane market competition pattern shows a trend of concentration of leading enterprises. The industry CR5 reached 62% in 2024, and is expected to increase to more than 75% by 2030. The first echelon composed of XCMG, Zoomlion, and Sany Heavy Industry in China continues to expand its international market share through overseas mergers and acquisitions (such as XCMG’s acquisition of the remaining equity of Schwing Germany in 2024), and competes head-on with international giants such as Liebherr and Konecranes in the high-end market. Small and medium-sized manufacturers focus on niche areas such as special cranes to seek differentiated development.
Regional markets show significant differentiated characteristics: the Asia-Pacific region (especially China, India, and Vietnam) will maintain an average annual growth rate of 8.5% benefiting from industrial transfer and infrastructure boom, becoming the core of global growth; the European and American markets focus on the research and development of high-end customized products, and promote the intelligent transformation of second-hand equipment, with the relevant market size reaching 8 billion US dollars; the Middle East and Africa region, driven by large-scale projects such as Saudi Arabia’s NEOM New City, has promoted the annual compound growth rate of the 1000-ton mobile crane rental market to 18.4%.
IV. Coexistence of Challenges and Opportunities, Future Development Outlook
While the crane industry is developing rapidly, it also faces many challenges: fluctuations in steel prices (a fluctuation of 500 yuan per ton will affect the industry’s gross profit margin by 2-3 percentage points), the possible increase in export costs due to the EU carbon tariff (expected to compress the profit space of export enterprises to Europe by 5-8%), and the pressure of supply chain restructuring caused by international trade frictions. But overall, the industry’s development opportunities outweigh the challenges.
In the future, the domestic market will maintain a stable growth of 5%-6% through new infrastructure and urban renewal plans, and the overseas market will achieve an incremental breakthrough of 8%-10% through the in-depth expansion of the “Belt and Road” initiative. Technology-driven enterprises with core technology patents (such as digital twin technology) and full-life cycle service capabilities will obtain higher valuation premiums, and enterprises with R&D investment intensity exceeding 5% will occupy more than 70% of the new market share. The crane industry is transforming from traditional manufacturing to intelligent manufacturing and green manufacturing, ushering in a golden period of high-quality development.
