Exploring the Future of Crane And Hoist: Trends & Projections for 2024
 The crane and hoist market is expanding due to rising construction and industrial activities, alongside the demand for efficient material handling solutions. Technological advancements and automation are key drivers in this sector.Â
| Crane and Hoist Market Statistics (2024)   | Predictions and Insights   | Source   |
|---|---|---|
| 1. According to the government of India, the Indian construction industry is expected to reach USD 1.4 trillion by 2025. | This surge in infrastructure projects and construction activities will necessitate increased use of lifting and material-handling equipment, leading to market expansion, technological advancements, and heightened competition within the crane and hoist sector. | Contact us to view the source. |
| 2. The Biden-Harris Administration announces $1.8 billion in infrastructure grants nationwide. | These funds will support a variety of large-scale construction and modernization projects across the country, requiring advanced lifting and material-handling equipment. | Contact us to view the source. |
| 3. China has planned to invest USD 173 billion in transport infrastructure projects by the end of 2024. | The investment is likely to boost infrastructure and construction projects, driving significant growth in demand for cranes and hoists as the nation continues to expand and modernize its infrastructure. | Contact us to view the source. |
| 4. The Indian government has allocated USD 20296.3 million for the modernization and infrastructure development of the Defence Services, reflecting a 9.4% increase over the FY 2023-24 budget. | It is anticipated that the construction activities related to defense infrastructure will surge, which will bring the need for advanced material-handling equipment. | Contact us to view the source. |
Crane And Hoist Market – Key Takeaways
As industries continue to grow and modernize, the crane and hoist market is expected to see sustained demand, presenting opportunities for innovation and increased operational efficiency in material handling.