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Stiffleg Crane Market Size - By Load Capacity (Below 25 Ton, 26 Ton to 50 Ton, 51 Ton to 80 Ton, Above 80 Ton), By Application (Construction & Mining, Oil & Gas/Energy, Transportation & Shipping, Manufacturing, Utility) & Forecast 2023 – 2032

  • Report ID: GMI6104
  • Published Date: Jun 2023
  • Report Format: PDF

Stiffleg Crane  Market Size

Stiffleg Crane Market size was valued at USD 506.5 million in 2022 and is anticipated to grow at over 5% CAGR from 2023 to 2032 driven by the rising investments in mining projects across North America.
 

Stiffleg Crane Market

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The increasing product demand can be attributed to their vital role in mining operations including excavations, material handling, and equipment installations. The rising need for minerals & metals coupled with technological advancements in mining techniques has propelled investments in mining projects. Crane manufacturers & suppliers are witnessing a surge in requirement of stiffleg cranes, which is leading to significant growth opportunities in the North America.
 

The oil & gas sector often requires stiffleg cranes for various operations including drilling, maintenance, and construction in offshore platforms. Fluctuations in oil prices and investments in exploration & production activities can significantly impact the stiffleg crane market growth. Additionally, an increasing focus on renewable energy sources, such as wind and solar power, has created opportunities for stiffleg cranes. These cranes can be used for erecting wind turbines, installing solar panels, and performing maintenance tasks in the renewable energy sector.

 

The rising emphasis on environmental regulations and sustainability poses supplementary challenges in the overall crane market. Adapting to evolving environmental regulations and embracing eco-friendly solutions also become a necessity for businesses to meet sustainability requirements. Companies can address regulatory concerns as well as contribute to industry growth in the long run by staying updated with environmental standards and investing in environmental-friendly alternatives.
 

COVID-19 Impact

The COVID-19 pandemic had significant impacts on the stiffleg crane market, causing disruptions in the global supply chain as well as a slowdown in industrial & infrastructure projects. Disruptions in the global supply chain led to delayed production & delivery of cranes while hindering construction & infrastructure projects, thereby contributing to the reduced demand. The economic impact of COVID-19 also resulted in financial challenges for businesses including reduced budgets and limited access to capital. This affected their ability to invest in stiffleg cranes & other equipment, further dampening industry development.
 

Stiffleg Crane Market Trends

The stiffleg crane industry is witnessing a growing focus on sustainability and environmental considerations. Companies are increasingly adopting eco-friendly practices to reduce their carbon footprints and minimize the environmental impact. This includes the use of electric or hybrid-powered cranes, the implementation of energy-efficient technologies, and the adoption of sustainable manufacturing processes. The integration of sustainable practices not only helps companies meet regulatory requirements but also aligns with the broader trend of environmental responsibility. By prioritizing sustainability, businesses are also positioning themselves as socially responsible, thereby attracting environmentally conscious clients.
 

Stiffleg Crane Market Analysis

Stiffleg Crane Market Size, By Load Capacity, 2021 - 2032 (USD Million)

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The below 25 ton stiffleg crane market held 25% of the overall share in 2022 and is expected to value at over USD 200 million in 2032. Stiffleg cranes with load capacities below 25 tons have been witnessing steady growth. These cranes are typically used in small-scale projects & applications that require moderate lifting capabilities. They are useful in construction sites, maintenance operations, manufacturing facilities, and other industries where there is a need for efficient material handling & lifting within a relatively lower load capacity range.
 

Stiffleg Crane Market Share, By Application, 2022

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The construction & mining segment reached USD 150 million in 2022 and is projected to cross USD 200 million revenue in 2032. The construction and mining sectors are the major consumers of stiffleg cranes. These cranes are extensively used in construction projects such as building construction, infrastructure development, and high-rise construction. In the mining industry, stiffleg cranes are used for excavations, material handling, and equipment installations in mining operations.
 

U.S. Stiffleg Crane Market Volume, 2021 - 2032 (Units)

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The North America stiffleg crane market held a dominant share of nearly 40% in 2022 and will amass USD 300 million by 2032 owing to the presence of a robust construction sector and significant infrastructure development projects in the region. The demand for stiffleg cranes in construction projects, such as high-rise buildings, bridges, and industrial facilities, is also driven by expanding major cities and urban areas. The oil & gas industry, particularly in the U.S. and Canada, contributes to business expansion are essential in drilling operations, maintenance requirements, as well as construction activities in offshore & onshore platforms.
 

Stiffleg Crane Market Share

Major companies operating in the stiffleg crane business landscape are:

  • Allied Power Products Inc
  • Henan Weihua Heavy Machinery Co Ltd
  • Jaso Tower Cranes
  • Lampson International
  • Liebherr
  • SHEN YANG BAOQUAN BUSINESS CO LTD
  • Somerset Engineering
  • Thunder Cranes
  • Yongmao Construction Machinery,
  • PLM Cranes.
     

Stiffleg Crane Industry News

  • In October 2022, PT Karunia Armada Indonesia (Karunia), announced collaborative development & validation of the new R 9300 generation 8 mining excavator. The R 9300 was initially displayed for the general audience in Bauma 2022.
     

This stiffleg crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipments (Units) from 2018 to 2032, for the following segments:

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Market, By Load Capacity

  • Below 25 ton
  • 26 ton to 50 ton
  • 51 ton to 80 ton
  • Above 80 ton

Market, By Application

  • Construction & mining
  • Oil & gas/energy
  • Transportation & shipping
  • Manufacturing
  • Utility

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of stiffleg crane reached USD 506.5 million in 2022 and is poised to grow at over 5% CAGR during 2023 to 2032 attributed to rising investments in mining projects, mainly across North America.
The below 25-ton crane segment held more than 25% of the industry share in 2022 and is estimated to be valued at USD 200 million in 2032 driven by their increasing adoption in small-scale projects and applications that require moderate lifting capabilities.
North America captured 40% share of the global industry in 2022 and is expected to amass USD 300 million by 2032 owing to the presence of robust construction sector and significant infrastructure development projects in the region.
Allied Power Products, Inc., Henan Weihua Heavy Machinery Co., Ltd., Jaso Tower Cranes, Lampson International, Liebherr, Somerset Engineering, Thunder Cranes, Yongmao Construction Machinery, and PLM Cranes are among the top stiffleg crane companies.

Stiffleg Crane Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 322
  • Countries covered: 15
  • Pages: 350
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