India Cranes Market Outlook (2023-2029) | Size, Trends, Analysis, Companies, Share, Forecast, Growth, Value, Industry, COVID-19 IMPACT & Revenue

India Cranes Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 70.46% over the previous year. While Germany registered a decline of -23.72% as compared to the previous year. In the year 2017, China was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 4043 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 4775 which signifies high concentration in the market.

India Cranes Market - Export Market Opportunities

Topics Covered in the India Cranes Market

India Cranes Market report thoroughly covers the market by product type and by end user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Cranes Market Synopsis

India Cranes Market is a thriving sector that caters to the growing demands of various industries. With its vast infrastructure projects, rapid urbanization, and expanding manufacturing capabilities, the market for cranes in India is proliferating over the forecast period. From towering skyscrapers in metropolitan cities to massive wind farms in rural areas, cranes are instrumental in lifting heavy materials and equipment. The major factors driving the growth of the India Cranes Market which is also a major part of the Asia Pacific Cranes Market include government initiatives that have spurred investments in infrastructure development. Additionally, increasing foreign direct investment (FDI) inflows have further fueled demand for technologically advanced cranes. The high initial cost of procuring cranes poses a barrier for small-scale businesses. Moreover, limited skilled labor availability and complex regulatory frameworks add to operational challenges for market players.

According to 6Wresearch, the India Cranes Market is expected to grow steadily during the forecast period 2023-2029. The primary growth drivers of this market include infrastructure development as India has been focusing on building roads, railways, airports, and urban infrastructure. Additionally, the growth of manufacturing, power generation, and oil and gas industries creates a need for cranes for material handling and maintenance activities. Rapid urbanization and the construction of commercial and residential buildings drive the demand for construction cranes in urban centers. Apart from this, cranes are becoming more advanced with the integration of technologies telematics, automation, and safety features, enhancing operational efficiency and safety. Moreover, there is a growing trend towards eco-friendly and energy-efficient cranes, driven by environmental concerns and regulations. However, the availability of skilled operators and technicians for operating and maintaining cranes is a major challenge in India which, in turn, hampers the India Cranes Market Growth during the forecast period.

COVID-19 Influence on the India Cranes Market

The COVID-19 pandemic has had a significant impact on the crane market in India. The restrictions imposed by the government to curb the spread of the virus have resulted in project delays and disruptions in construction activities. This has directly affected the demand for cranes in the country. Moreover, supply chain disruptions caused by lockdowns and travel restrictions have also affected the availability of spare parts and components required for crane maintenance and repairs. This has led to longer downtime periods and increased costs for crane operators. Additionally, as economic activities gradually resume post-lockdown, there is likely to be an increase in infrastructure development initiatives by both the public and private sectors.

Key players in the India Cranes Market

The India Cranes Market is highly competitive with the presence of various key players who are involved in the manufacturing and distribution of cranes. Some of the leading players in the market include;

• Escorts Limited
• Action Construction Equipment Ltd. (ACE)
• TIL Limited
• Kobelco Construction Equipment India Pvt. Ltd.
• Godrej & Boyce Manufacturing Company Limited
• L&T Construction Equipment Limited
• Sany India

The Future of the India Cranes Market

The India Cranes Industry is on a remarkable upward trajectory, driven by the fast-paced expansion of construction projects and innovative technology solutions. For instance, advancements in technology such as telematics, IoT integration, and automation have improved efficiency and safety capabilities significantly. However, the lack of skilled labor is a major concern for industry participants. Nevertheless, government support backs infrastructure development and sustainability goals point towards eco-friendly solutions. Therefore, the future looks bright for India cranes industry and it is forecast to grow over the coming years.

Market Analysis by Product Type

According to Vasudha, Senior Research Analyst, 6Wresearch, the mobile crane segment is expected to lead the India Cranes Market Share due to its versatility and suitability for a wide range of applications.

Market Analysis by End-User

Based on End-User, the construction industry's growth and development projects in India are expected to drive the demand for mobile cranes. Additionally, the oil and gas industry is anticipated to contribute to the growth of the India cranes market.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Cranes Market Outlook
• Market Size of India Cranes Market, 2022
• Forecast of India Cranes Market, 2029
• Historical Data and Forecast of India Cranes Revenues & Volume for the Period 2019 - 2029
• India Cranes Market Trend Evolution
• India Cranes Market Drivers and Challenges
• India Cranes Price Trends
• India Cranes Porter's Five Forces
• India Cranes Industry Life Cycle
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Mobile for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Fixed for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Marine for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By End-User for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Construction for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Mining for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Oil & Gas for the Period 2019 - 2029
• Historical Data and Forecast of India Cranes Market Revenues & Volume By Others for the Period 2019 - 2029
• India Cranes Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By End-User
• India Cranes Top Companies Market Share
• India Cranes Competitive Benchmarking By Technical and Operational Parameters
• India Cranes Company Profiles
• India Cranes Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Mobile
• Fixed
• Marine

By End-User

• Construction
• Mining
• Industrial
• Oil & Gas
• Others