Tower Crane Rental Market Analysis | 2022-2027

Market Highlights

The Tower Crane Rental Market is expected to grow at a promising CAGR of 5.3% during the forecast period.

The worldwide tower crane rental market is expected to rise at a steady pace. Various changes and regulations are being implemented by emerging countries to strengthen the infrastructure and real estate industries. The worldwide tower crane rental market is projected to be driven by such reforms. Tower cranes' user-friendliness, safety, and reliability are also boosting their acceptance in a range of end-use sectors.

Manufacturers can lower their operating costs by using tower crane rental services, which allow access to a variety of modern equipment and operational flexibility based on the needs of the manufacturer. Since many small and medium-scale developers cannot afford to purchase tower cranes, tower crane renting is gaining popularity in the market. Big companies, on the other hand, use it for a variety of projects over a longer period to reduce overall project costs, therefore they are more likely to buy than rent tower cranes.

Covid-19 Impact

During the ongoing COVID-19 outbreak, the tower crane rental witnessed a decline. As a result of the suspension of construction operations in 2020, demand for tower cranes was slowed. However, crane rentals are in high demand in both developing and developed nations, and this trend is expected to continue over the projection period. 

Segments Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Product Type

• Hammer Head Tower Cranes 
• Self-erecting Tower Cranes 
• Flat Top Tower Cranes 
• Luffing Jib Tower Cranes 

By End-User Type

• Residential 
• Commercial 
• Infrastructure 

By Region

• North America 
• Europe 
• Asia-Pacific 
• Rest of the World 

By Product Type

The market is bifurcated into hammerhead tower cranes, self-erecting tower cranes, flat-top tower cranes, and luffing Jib tower cranes. The hammer head tower crane is expected to be the dominant product type in the coming years. They're notably good at handling a wide range of heavy materials precisely and accurately. A hammerhead tower crane is a versatile workhorse because of its ability to adapt to any construction site and any type or volume of cargo being transported.

By End-User Type

The market is segmented as residential, commercial, and infrastructure. The market for tower crane rental is dominated by residential end-user types during the forecast period. sales of tower crane rentals are likely to increase during the evaluation period due to the growing popularity of high-rise buildings in both established and developing countries around the world.

Regional Analysis

In terms of regions, Asia Pacific is expected to remain the largest market for tower crane rental over the forecast period. The construction industry in Asia-Pacific is expanding due to a large number of upcoming construction projects. Manufacturing and service industries have seen tremendous expansion, particularly in rising economies such as China, India, Indonesia, Thailand, and Brazil.

Key Players

To obtain a solid presence in the market, industry players are employing a variety of techniques such as production capacity growth, mergers and acquisitions, and new product development. The following are some of the key players in the tower crane rental market:

• Action Construction Equipment Ltd.
• ALL Crane
• Bigge Crane and Rigging Co.
• Falcon Tower Crane Services
• Leavitt Cranes
• NFT Group
• Rapicon Inc.
• Titan Cranes & Rigging
• WASEL GmbH
• Zoomlion ElectroMech India Pvt. Ltd

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Tower Crane Rental market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth Application.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]