U.S. Crane Market Projected to Reach $8.63B by 2034

A new report from IMARC Group projects the United States crane market will grow from $6.57 billion in 2025 to $8.63 billion by 2034, representing a compound annual growth rate (CAGR) of 3.08% from 2026 to 2034.

According to the study, demand for cranes is increasing as infrastructure modernization, construction activity, renewable energy projects and industrial facility upgrades continue across the country. The report also notes that advancements in crane technology, including automation, telematics and enhanced safety systems, are influencing equipment investment decisions.

Construction and infrastructure accounted for the largest share of the market in 2025, representing 50% of total applications. The report attributes this to ongoing investment in roads, bridges, airports, freight systems and public utilities. Renewable energy development, including wind, solar and hydroelectric projects, is also contributing to demand for specialized lifting equipment capable of handling large components.

By product type, mobile cranes held the largest share at 44% in 2025, supported by their flexibility, transportability and suitability for a range of applications including construction, oil and gas and infrastructure projects. Other segments include marine and port cranes, as well as fixed cranes used in long-term industrial and infrastructure applications.

Regionally, demand is distributed across the Northeast, Midwest, South and West, with each region supported by a mix of construction, manufacturing, energy and infrastructure activity.

The report indicates that the market remains competitive, with global manufacturers and regional service providers focusing on fleet modernization, acquisitions and service expansion. Technology adoption, including telematics and automation, is identified as a key factor shaping competition.

IMARC also highlights ongoing challenges, including skilled labor shortages, high capital costs for advanced equipment and supply chain constraints affecting parts availability. Despite these factors, the report identifies continued infrastructure investment and energy development as key drivers supporting long-term market growth.