
Vietnam Crane Market Report and Forecast 2025-2034
Description
The Vietnam crane market is projected to grow at a CAGR of 4.80% between 2025 and 2034. The market growth can be attributed to the robust growth of the mining and construction sectors.
Vietnam Crane Market Growth
Vietnam is experiencing a surge in mining activities, leading to an increased demand for cranes. In 2020, the mining sector represented 2.4% of the country’s GDP. The country boasts the world’s second-largest deposit of rare earth elements, amounting to 22 million rare earth oxides. As the Vietnamese government aims to surge its rare earth elements production to 2.02 million tonnes per year by 2030, the country has the opportunity to become a significant contributor to rare earth supply chains. This is expected to boost the demand for cranes as they are essential in mining and mineral processing and material supply.
Vietnam is currently experiencing swift urbanisation, marked by a notable rise in residential, commercial, and industrial structures. The government's emphasis on enhancing infrastructure, encompassing roads, bridges, ports, and airports, has resulted in a heightened need for cranes to facilitate these extensive undertakings. The market growth can also be attributed to national initiatives like the National Targeted Programs for New Rural Development and the Sustainable Poverty Reduction Support Program.
The logistics market in Vietnam is growing at an impressive average annual rate of 14–16%. This demonstrates the nation's dedication to improving connectivity and logistics efficiency. When managing large, heavy loads that cannot be handled by other means, cranes are indispensable. For sectors like manufacturing, shipping, and construction where big, heavy objects need to be precisely moved and positioned, this capability is essential. To maximise space utilisation in warehouses and storage yards, cranes make it possible to stack and store goods efficiently. Logistics companies can optimise their storage capacity and streamline their operations with the help of this improved inventory management.
Vietnam Crane Industry Segmentation
“Vietnam Crane Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Mobility
Static
Mobile
Market Breakup by Type
Overhead Travelling Crane
Transporter Crane
Gantry Crane
Bridge Crane
Tower Crane
Others
Market Breakup by Sales Channel
OEM
Aftermarket
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Crane Market Share
Based on mobility, the market is segmented into static and mobile. Mobile cranes are projected to grow at a CAGR of 5.5% during the forecast period of 2025-2034. These adaptable cranes are suitable for a variety of work environments and are capable of lifting a diverse array of loads. They are ideal for hoisting, transporting, and positioning equipment with minimal assembly required, and are frequently utilised in construction, wind power, and HVAC projects.
Leading Companies in the Vietnam Crane Market
Major market players are focusing on the adoption of advanced technologies and increasing preference for rental services to gain a competitive edge.
Tadano Ltd.
XCMG Construction Machinery Co Ltd.
SANY Group
Zoomlion Heavy Industry Sci & Tch Co Ltd.
The Manitowoc Company, Inc.
Sumitomo Heavy Industries Construction Cranes Co.
Others
Vietnam Crane Market Report Snapshots
Vietnam Crane Market Size
Vietnam Crane Market Growth
Vietnam Crane Market Share
Vietnam Crane Companies
Vietnam Crane Market Growth
Vietnam is experiencing a surge in mining activities, leading to an increased demand for cranes. In 2020, the mining sector represented 2.4% of the country’s GDP. The country boasts the world’s second-largest deposit of rare earth elements, amounting to 22 million rare earth oxides. As the Vietnamese government aims to surge its rare earth elements production to 2.02 million tonnes per year by 2030, the country has the opportunity to become a significant contributor to rare earth supply chains. This is expected to boost the demand for cranes as they are essential in mining and mineral processing and material supply.
Vietnam is currently experiencing swift urbanisation, marked by a notable rise in residential, commercial, and industrial structures. The government's emphasis on enhancing infrastructure, encompassing roads, bridges, ports, and airports, has resulted in a heightened need for cranes to facilitate these extensive undertakings. The market growth can also be attributed to national initiatives like the National Targeted Programs for New Rural Development and the Sustainable Poverty Reduction Support Program.
The logistics market in Vietnam is growing at an impressive average annual rate of 14–16%. This demonstrates the nation's dedication to improving connectivity and logistics efficiency. When managing large, heavy loads that cannot be handled by other means, cranes are indispensable. For sectors like manufacturing, shipping, and construction where big, heavy objects need to be precisely moved and positioned, this capability is essential. To maximise space utilisation in warehouses and storage yards, cranes make it possible to stack and store goods efficiently. Logistics companies can optimise their storage capacity and streamline their operations with the help of this improved inventory management.
Vietnam Crane Industry Segmentation
“Vietnam Crane Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Mobility
Static
Mobile
Market Breakup by Type
Overhead Travelling Crane
Transporter Crane
Gantry Crane
Bridge Crane
Tower Crane
Others
Market Breakup by Sales Channel
OEM
Aftermarket
Market Breakup by Region
Southeast
Red River Delta
Mekong River Delta
South Central Coast
Others
Vietnam Crane Market Share
Based on mobility, the market is segmented into static and mobile. Mobile cranes are projected to grow at a CAGR of 5.5% during the forecast period of 2025-2034. These adaptable cranes are suitable for a variety of work environments and are capable of lifting a diverse array of loads. They are ideal for hoisting, transporting, and positioning equipment with minimal assembly required, and are frequently utilised in construction, wind power, and HVAC projects.
Leading Companies in the Vietnam Crane Market
Major market players are focusing on the adoption of advanced technologies and increasing preference for rental services to gain a competitive edge.
Tadano Ltd.
XCMG Construction Machinery Co Ltd.
SANY Group
Zoomlion Heavy Industry Sci & Tch Co Ltd.
The Manitowoc Company, Inc.
Sumitomo Heavy Industries Construction Cranes Co.
Others
Vietnam Crane Market Report Snapshots
Vietnam Crane Market Size
Vietnam Crane Market Growth
Vietnam Crane Market Share
Vietnam Crane Companies
Table of Contents
130 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Asia Pacific Crane Market Overview
- 5.1 Key Industry Highlights
- 5.2 Asia Pacific Crane Historical Market (2018-2024)
- 5.3 Asia Pacific Crane Market Forecast (2025-2034)
- 6 Vietnam Crane Market Overview
- 6.1 Key Industry Highlights
- 6.2 Vietnam Crane Historical Market (2018-2024)
- 6.3 Vietnam Crane Market Forecast (2025-2034)
- 7 Vietnam Crane Market by Mobility
- 7.1 Static
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Mobile
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 Vietnam Crane Market by Type
- 8.1 Overhead Travelling Crane
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Transporter Crane
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Gantry Crane
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Bridge Crane
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Tower Crane
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Vietnam Crane Market by Sales Channel
- 9.1 OEM
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Aftermarket
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Vietnam Crane Market by Region
- 10.1 Southeast
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Red River Delta
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Mekong River Delta
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Central Coast
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Tadano Ltd.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 XCMG Construction Machinery Co Ltd.
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 SANY Group
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Zoomlion Heavy Industry Sci & Tch Co Ltd.
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 The Manitowoc Company, Inc.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Sumitomo Heavy Industries Construction Cranes Co., Ltd.
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Others
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