The South Asia Cranes Market size was valued at USD 2534.16 Million in 2023 and the total South Asia Cranes Market revenue is expected to grow at a CAGR of 4.88 % from 2024 to 2030, reaching nearly USD 3537.39 Million. South Asia Cranes Market includes manufacturing, distribution & utilization of various types of crane such as overhead cranes, transporter cranes, gantry cranes, bridge cranes & tower cranes used across industries like construction, shipping, transportation & manufacturing for heavy material lifting & logistic operation. These cranes play critical role in infrastructure development allowing for efficient & safe material handling in large scale projects, & urban construction zones. Market covers countries in South Asia region, including India, Bangladesh, Nepal & Pakistan with each country presenting unique demand patterns based on their infrastructure development, industrial growth and urbanization trends. South Asia Cranes Market is growing significantly due to an ongoing boom in infrastructure development across region. Market is driven primarily by government backed initiatives such as India’s “Make in India” program which has resulted in massive investments in infrastructure, smart cities, transportation networks & manufacturing. In India rapid urbanization and need for efficient transportation systems are prompting demand for cranes in metro projects, high rise buildings & industrial corridors. Bangladesh has seen an increase in crane demand due to its rapidly expanding garment industry infrastructure projects like Padma Bridge & growing focus on industrialization. Pakistan is also contributing to regional crane demand through large scale infrastructure projects linked to China Pakistan Economic Corridor (CPEC) which involves highway construction, power plants and industrial zones. Driving growth factors in South Asia Cranes Market include increasing demand for infrastructure development, rapid urbanization & industrial expansion in countries like India, Bangladesh and Nepal. Government initiatives aimed at enhancing transportation networks, logistics infrastructure & renewable energy projects are pushing demand for cranes. For example, need for tower cranes & gantry cranes is growing in cities undergoing massive high rise construction, metro projects and port development. Energy sector particularly wind energy and hydropower also demands advanced cranes for installation of turbines & dam construction. Technological advancements in cranes such as automation and development of electric & hybrid cranes are driving South Asia Cranes Market growth as companies seek to improve efficiency & sustainability in their operations. One of recent key developments in South Asia Cranes Market comes from Mitsui E&S Co., which in February 2024 received an order for twelve electric Rubber Tyred Gantry Cranes (RTGs) from Northport subsidiary of MMC Corporation Berhad in Malaysia. This development reflects growing trend toward environmentally friendly crane technologies in region as electric cranes are gaining popularity due to their lower emissions & operational efficiency. Mitsui E&S has also been expanding its presence in Southeast Asia previously delivering total of 34 units of Rubber Tyred Gantry Cranes & Electric Rubber Tyred Gantry Cranes to Northport from 2021 to 2022. Continued demand for Mitsui advanced crane technologies especially electric models highlights market shift toward sustainability & efficiency.To know about the Research Methodology :- Request Free Sample Report
Market Dynamics:
Infrastructure Development Initiatives drive South Asia cranes market: South Asia cranes market is showing robust growth driven by large scale infrastructure development initiatives across region. Countries like India & Bangladesh are investing heavily in road, bridge, airports & railway. For instance, Bharatmala & Sagarmala projects in India aim to improve road connectivity & enhance port infrastructure generating significant demand for construction crane. Bangladesh Padma Bridge project & Sri Lanka Colombo Port City project require heavy lifting equipment including cranes. As governments push for modernization of infrastructure to support economic growth & urbanization demand for cranes particularly mobile tower & port cranes continues to rise. Rapid growth of renewable energy projects particularly wind & solar energy is a major growth driver for South Asia Cranes Market. For example, in India which has ambitious targets to achieve 500 GW of renewable energy by 2030 cranes are crucial for wind turbine installations. Companies like Sany India introduced advanced crawler cranes with high lifting capacities such as SCC8000A used in wind turbine projects in Gujarat. These cranes enable efficient installation of large wind turbines in remote & challenging terrains. This trend is set to fuel continued demand for specialized cranes as renewable energy sector expands across South Asia. Rapid industrialization and urbanization are contributing significantly to South Asia Cranes Market growth. In countries like India and Bangladesh rise of industrial hubs manufacturing zones and urban infrastructure projects requires cranes for construction of high rise buildings, factories and warehouses. demand for tower cranes, mobile cranes and heavy duty cranes is particularly strong in urban centers undergoing rapid development. For instance, smart city projects in India like Dholera and Amaravati necessitate extensive use of cranes for construction and infrastructure development. As urbanization intensifies across region need for cranes in both residential and commercial construction is expected to grow substantially. Government support for Manufacturing Initiatives: Government initiatives such as "Make in India" program are bolstering manufacturing sector leading to increased demand for cranes in factories and production facilities. Local manufacturing of cranes as seen in partnership between Konecranes and Larsen & Toubro supports industrial growth & enhances domestic production of cranes reducing reliance on imports. These initiatives encourage infrastructure development where crane play important role in lifting & moving heavy materials. As more manufacturing plant and industrial facilities are established demand for both mobile & tower cranes in South Asia is expected to grow supported by favorable government policies. Ongoing modernization and development of ports are driving growth in South Asia Cranes Market particularly for port cranes such as Rubber Tired Gantry (RTG) cranes, Ship to Shore cranes and Rail Mounted Gantry (RMG) cranes. Countries like India and Bangladesh are upgrading their port infrastructure to meet rising trade demands. For instance, Konecranes collaboration with Larsen & Toubro to manufacture and distribute port cranes in India including orders from Cochin Shipyard highlight increasing demand for advanced cranes. As trade volumes grow and ports are modernized requirement for efficient cargo handling equipment including cranes continues to grow. Integration of advanced technologies & automation in crane design is boosting demand in South Asia Cranes Market. Companies like MITSUI E&S and Terex are developing cranes with environmentally friendly features such as electric Rubber Tyred Gantry (RTG) cranes that reduce emissions and improve energy efficiency. Increasing adoption of automation, remote operation systems and realtime monitoring in cranes enhance operational efficiency and safety making them more appealing to industries requiring heavy lifting. These innovation are particularly significant in sector like ports, construction and energy where hightech cranes improve productivity and reduce operational risks. This trend is likely to drive future demand for technologically advanced cranes in region.South Asia Cranes Market Segment Analysis:
By Product Type: Transporter Cranes, Gantry Cranes & Bridge Cranes held largest share of South Asia cranes market in 2023 accounting for 61.7%. These cranes are extensively used in infrastructure projects like ports, construction & industrial facilities due to their versatility in heavy material handling & load bearing capacities driving their widespread adoption. Overhead Travelling Cranes comprising 21.5% of market share are commonly used in manufacturing plants, warehouses & factories for efficient lifting and transporting of goods across short distances, particularly in assembly lines and production processes. Tower Cranes and Portal or Pedestal Jib Cranes with 16.8% market share are predominantly utilized in high rise construction projects including residential and commercial buildings. Their ability to lift heavy materials at greater heights makes them essential for urban development projects particularly in rapidly growing cities. Adoption of these crane types reflects diverse industrial and infrastructural needs across South Asia with transport cranes dominating due to their broad utility in large scale projects.
South Asia Cranes Market Regional Insights:
India emerged as dominant player in South Asia cranes market in 2023, commanding significant 42.0% market share. This is largely due to country rapid infrastructure development driven by government initiatives such as “Make in India” and substantial investments in sectors like construction, transportation and renewable energy. India bustling urbanization, large scale industrial projects and increasing demand for modern ports and logistics infrastructure have further contributed to dominance of crane market. The country significant investments in smart cities, high rise buildings, metro projects and expanding manufacturing facilities make it largest consumer of various crane types, particularly transporter cranes, gantry cranes and tower cranes. India strong manufacturing base, availability of skilled labor and growing export market also contribute to its leading position. Bangladesh with 16.2% market share in 2023 has become notable player in South Asia cranes market due to its booming garment & textile industry which demand modern logistic and material handling systems. Country has witnessed significant investment in infrastructure projects such as bridges, power plants and port development. The construction of large scale infrastructure like Padma Bridge and development of new industrial zones have accelerated adoption of cranes especially overhead travelling cranes for efficient load management in production facilities and ports. As Bangladesh continues to enhance its industrial infrastructure and diversify its economy demand for cranes is expected to grow steadily. Nepal although smaller in market size with 12.1% share is experiencing steady rise in crane adoption especially in wake of its post earthquake reconstruction efforts. The country growing focus on infrastructure development such as development of highways, airports and hydropower plants is driving demand for cranes. Competitive Landscape The developments by MITSUI E&S, Terex and Konecranes will drive market growth in crane and port infrastructure sectors across Southeast Asia and India. MITSUI E&S continued growth in Malaysia and Terex partnership with RAE Heavy Equipment in Philippines demonstrate increasing demand for advanced ecofriendly cranes. Meanwhile, Konecranes licensing agreement with Larsen & Toubro supports "Make in India" initiative fostering local production and enhancing port operations. These strategic moves strengthen regional presence of global crane manufacturers boosting infrastructure investments and fueling growth in fast developing port and logistics sectors. On February 9, 2024, MITSUI E&S Co., Ltd. received an order from Northport (Malaysia) Bhd subsidiary of MMC Corporation Berhad for twelve Electric Rubber Tyred Gantry Cranes. This follows previous contracts between 2021 and 2022 for twenty three Rubber Tyred Gantry Cranes and eleven Electric Rubber Tyred Gantry Cranes. MITSUI E&S known for its pioneering crane manufacturing continues to provide high quality environmentally friendly products to support Northport operations. Company aim to expand its presence in Southeast Asia where infrastructure demand is growing rapidly. On October 20, 2023, Terex Rough Terrain Crane appointed RAE Heavy Equipment as its authorize distributor in Philippines expanding its presence in Southeast Asia. Based in Antipolo City RAE Heavy Equipment established in 2019 offer Terexs full range of Rough Terrain Cranes along with local parts, service and technical support. Despite being relatively new RAE has gained customer trust across country. Terex cranes are designed and assembled in Italy known for their quality and reliability. This partnership strengthens Terex market position & ensures enhanced local support for customers in Philippines. On January 20, 2023, Konecrane and Indian multinational Larsen & Toubro (L&T) signed licensing agreement for manufacturing and distributing Konecranes port cranes in India enhancing Konecranes presence in region. Agreement covers Ship to Shore Rubber Tired Gantry & Rail Mounted Gantry cranes supporting "Make in India" initiative. First order under this partnership includes two shipyard jib cranes for Cochin Shipyard to be manufactured by L&T at its Kanchipuram factory using Konecranes design and components. Cranes with lifting capacities of 75t and 40t will be delivered within 24 months.South Asia Cranes Market Scope:Inquire Before Buying
South Asia Cranes Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: USD 2534.16 Million. Forecast Period 2024 to 2030 CAGR: 4.88% Market Size in 2030: USD 3537.39 Million. Segments Covered: by Industry Venue Management Industry Registrations Ticketing Event Industry by Type SMEs Large Enterprises by Product Type On-Premises Cloud-Based by Hoist Arrangement Activity Registration Membership Management Instructor Management Facility Management Point of Sale Marketing Reporting by Operation Parks & Recreation Departments Healthcare & Wellness Education & Academics Sports Training Center Community Centers Government Facilities by Business Type Original Equipment Manufacturers (OEM) Aftersales South Asia Cranes Market: South Asia Cranes Market
1. General Equipment Limited 2. Company Overview 3. Financial Overview 4. South Asia Presence 5. Business Portfolio 6. SWOT Analysis 7. Business Strategy 8. Recent Development 9. Venus Engineers 10. PEB Steel Alliance Ltd. 11. Dilum BMK Engineers (Pvt) Ltd. 12. Zam Zam Engineering Industries South Asia Cranes Market: Crane Rental Service Providers 13. Shrestha Services Pvt. Ltd 14. Company Overview 15. Financial Overview 16. South Asia Presence 17. Business Portfolio 18. SWOT Analysis 19. Business Strategy 20. Recent Development 21. Escape Bangladesh Limited 22. Konecranes Bangladesh Ltd. 23. Ajinco International (Pvt) Ltd 24. BdRentz FAQs: 1. What are the growth drivers for the South Asia Cranes Market? Ans. Infrastructure Development Initiatives drive South Asia cranes market and are expected to be the major driver for the South Asia Cranes Market. 2. What are the major Opportunity for the South Asia Cranes Market growth? Ans. Government support for Manufacturing Initiatives are the major opportunity for the South Asia Cranes market. 3. Which country is expected to lead the South Asia Cranes Market during the forecast period? Ans. India is expected to lead the South Asia Cranes Market during the forecast period. 4. What is the projected market size and growth rate of the South Asia Cranes Market? Ans. The South Asia Cranes Market size was valued at USD 2534.16 Million in 2023 and the total South Asia Cranes Market revenue is expected to grow at a CAGR of 4.88 % from 2024 to 2030, reaching nearly USD 3537.39 Million. 5. What segments are covered in the South Asia Cranes Market report? Ans. The segments covered in the South Asia Cranes Market report are by Industry, Type, Product Type, Hoist Arrangement, Operation, Business Type, and Country.
1. South Asia Cranes Market: Research Methodology 2. South Asia Cranes Market Introduction 2.1 Study Assumption and Market Definition 2.2 Scope of the Study 2.3 Executive Summary 3. South Asia Cranes Market: Dynamics 3.1 South Asia Cranes Market Trends 3.2 South Asia Cranes Market Dynamics 3.2.1 Drivers 3.2.2 Restraints 3.2.3 Opportunities 3.2.4 Challenges 3.3 PORTER’s Five Forces Analysis 3.3.1 Bargaining Power Of Suppliers 3.3.2 Bargaining Power Of Buyers 3.3.3 Threat Of New Entrants 3.3.4 Threat Of Substitutes 3.3.5 Intensity Of Rivalry 3.4 PESTLE Analysis 3.5 Regulatory Landscape 4. South Asia Cranes Market Size and Forecast by Segmentation (By Value) (2023-2030) 4.1 South Asia Cranes Market Size and Forecast, by Industry (2023-2030) 4.1.1 Energy & Power 4.1.2 Shipping and Material Handling 4.1.3 Automotive and Railway 4.1.4 Aerospace and Defense 4.1.5 Construction 4.1.6 Mining 4.1.7 Others 4.2 South Asia Cranes Market Size and Forecast, by Type (2023-2030) 4.2.1 Fixed Cranes 4.2.2 Mobile Cranes 4.3 South Asia Cranes Market Size and Forecast, by Product Type (2023-2030) 4.3.1 Overhead Travelling Cranes 4.3.2 Transporter Cranes, Gantry Cranes, & Bridge Cranes 4.3.3 Tower cranes and portal or pedestal jib cranes 4.4 South Asia Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.4.1 Under Hung Type 4.4.2 Top Running Type 4.5 South Asia Cranes Market Size and Forecast, by Operation (2023-2030) 4.5.1 Telescopic 4.5.2 Mill Type 4.5.3 Tie Rod 4.5.4 Welded 4.6 South Asia Cranes Market Size and Forecast, by Business Type (2023-2030) 4.6.1 Original Equipment Manufacturers (OEM) 4.6.2 Aftersales 4.7 South Asia Cranes Market Size and Forecast, by Country (2023-2030) 4.7.1 Afghanistan 4.7.1.1 Afghanistan Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.1.1.1 Energy & Power 4.7.1.1.2 Shipping and Material Handling 4.7.1.1.3 Automotive and Railway 4.7.1.1.4 Aerospace and Defense 4.7.1.1.5 Construction 4.7.1.1.6 Mining 4.7.1.1.7 Others 4.7.1.2 Afghanistan Cranes Market Size and Forecast, by Type (2023-2030) 4.7.1.2.1 Fixed Cranes 4.7.1.2.2 Mobile Cranes 4.7.1.3 Afghanistan Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.1.3.1 Overhead Travelling Cranes 4.7.1.3.2 Transporter Cranes, Gantry Cranes, & Bridge Cranes 4.7.1.3.3 Tower cranes and portal or pedestal jib cranes 4.7.1.4 Afghanistan Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.1.4.1 Under Hung Type 4.7.1.4.2 Top Running Type 4.7.1.5 Afghanistan Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.1.5.1 Telescopic 4.7.1.5.2 Mill Type 4.7.1.5.3 Tie Rod 4.7.1.5.4 Welded 4.7.1.6 Afghanistan Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.1.6.1 Original Equipment Manufacturers (OEM) 4.7.1.6.2 Aftersales 4.7.2 Bangladesh 4.7.2.1 Bangladesh Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.2.2 Bangladesh Cranes Market Size and Forecast, by Type (2023-2030) 4.7.2.3 Bangladesh Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.2.4 Bangladesh Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.2.5 Bangladesh Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.2.6 Bangladesh Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.3 Bhutan 4.7.3.1 Bhutan Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.3.2 Bhutan Cranes Market Size and Forecast, by Type (2023-2030) 4.7.3.3 Bhutan Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.3.4 Bhutan Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.3.5 Bhutan Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.3.6 Bhutan Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.4 India 4.7.4.1 India Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.4.2 India Cranes Market Size and Forecast, by Type (2023-2030) 4.7.4.3 India Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.4.4 India Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.4.5 India Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.4.6 India Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.5 Maldives 4.7.5.1 Maldives Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.5.2 Maldives Cranes Market Size and Forecast, by Type (2023-2030) 4.7.5.3 Maldives Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.5.4 Maldives Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.5.5 Maldives Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.5.6 Maldives Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.6 Nepal 4.7.6.1 Nepal Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.6.2 Nepal Cranes Market Size and Forecast, by Type (2023-2030) 4.7.6.3 Nepal Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.6.4 Nepal Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.6.5 Nepal Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.6.6 Nepal Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.7 Pakistan 4.7.7.1 Pakistan Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.7.2 Pakistan Cranes Market Size and Forecast, by Type (2023-2030) 4.7.7.3 Pakistan Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.7.4 Pakistan Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.7.5 Pakistan Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.7.6 Pakistan Cranes Market Size and Forecast, by Business Type (2023-2030) 4.7.8 Sri Lanka 4.7.8.1 Sri Lanka Cranes Market Size and Forecast, by Industry (2023-2030) 4.7.8.2 Sri Lanka Cranes Market Size and Forecast, by Type (2023-2030) 4.7.8.3 Sri Lanka Cranes Market Size and Forecast, by Product Type (2023-2030) 4.7.8.4 Sri Lanka Cranes Market Size and Forecast, by Hoist Arrangement (2023-2030) 4.7.8.5 Sri Lanka Cranes Market Size and Forecast, by Operation (2023-2030) 4.7.8.6 Sri Lanka Cranes Market Size and Forecast, by Business Type (2023-2030) 5. South Asia Cranes Market: Competitive Landscape 5.1 MMR Competition Matrix 5.2 Competitive Landscape 5.3 Key Players Benchmarking 5.3.1 Company Name 5.3.2 Business Segment 5.3.3 End user Segment 5.3.4 Revenue (2023) 5.3.5 Manufacturing Locations 5.4 Market Structure 5.4.1 Market Leaders 5.4.2 Market Followers 5.4.3 Emerging Players 5.5 Mergers and Acquisitions Details 6. Company Profile: Crane Manufacturing Company 6.1 General Equipment Limited 6.1.1 Company Overview 6.1.2 Financial Overview 6.1.3 South Asia Presence 6.1.4 Business Portfolio 6.1.5 SWOT Analysis 6.1.6 Business Strategy 6.1.7 Recent Development 6.2 Venus Engineers 6.3 PEB Steel Alliance Ltd. 6.4 Dilum BMK Engineers (Pvt) Ltd. 6.5 Zam Zam Engineering Industries 7. Company Profile: Crane Rental Service Providers 7.1 Shrestha Services Pvt. Ltd 7.1.1 Company Overview 7.1.2 Financial Overview 7.1.3 South Asia Presence 7.1.4 Business Portfolio 7.1.5 SWOT Analysis 7.1.6 Business Strategy 7.1.7 Recent Development 7.2 Escape Bangladesh Limited 7.3 Konecranes Bangladesh Ltd. 7.4 Ajinco International (Pvt) Ltd 7.5 BdRentz 8. Key Findings 9. Analyst Recommendations 10. Terms and Glossary
