2025-2034 Crane Rental Market Roadmap: Insights for Competitive Advantage

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How Large Will the Crane Rental Market Size By 2025?
Over the years, there has been robust growth in the crane rental market size. The market, which is projected to increase from $47.51 billion in 2024 to $50.54 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 6.4%. The spur in growth during the historic period is due to several factors. These include the surge in construction activities in developing economies, an uptick in crane requirements in the mining and energy sectors, rising governmental expenditure in infrastructural projects, a growing preference for renting equipment over owning them, and the rise in urbanization and development of megacities.

How Big Is the Crane Rental Market Size Expected to Grow by 2029?
Anticipations are high for considerable expansion in the crane rental market in the coming years. The market is predicted to reach a value of $64.13 billion in 2029, presenting a compound annual growth rate (CAGR) of 6.1%. Factors triggering this growth in the forecast period include an upsurge demand for renewable energy initiatives, a shift towards modular construction practices, increased spending on transportation infrastructure, an emerging preference for high-capacity all-terrain cranes and the rise in digitization and remote crane monitoring. Key trends expected within the forecast period consist of the advancement of autonomous crane functions, inclusion of safety analytics software, innovation in urban project crane designs, improvements in load optimization algorithms, and the melding of cranes with building information modeling.

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Which Key Market Drivers Powering Crane Rental Market Expansion and Growth?
The crane rental market is anticipated to expand due to rising construction activities. These activities encompass the creation, repair, or modification of structures such as buildings, bridges, roads, and other infrastructures. The increase in construction activities is primarily due to the surge in urbanization, leading to increased demand for residential, commercial, and infrastructural developments. Crane rentals offer a practical and cost-efficient solution for accessing heavy-lifting equipment essential for material handling, assembly of structures, and keeping projects on schedule. For instance, in the Australian Bureau of Statistics report from July 2023, the data from the Australian governmental organization showed an increase in the construction of dwellings in the first quarter of 2023, reaching 240,813 from 240,065 in 2022. Among these, the number of new houses rose to 103,778 in 2023 from 101,240 in the prior year. Consequently, the rising construction activities are fueling the expansion of the crane rental market.

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Which Fast-Growing Trends Are Poised to Disrupt the Crane Rental Market?
Leading corporations in the crane rental market are concentrating on creating advanced lifting tools, including high-capacity all-terrain cranes, aligning with the rising needs for complex and massive construction ventures. All-terrain cranes with high capacity are robust mobile cranes intended for carrying heavy weights across different ground types, blending the flexibility of truck-mounted cranes and the robustness of rough-terrain cranes. For instance, in May 2023, AP Rentals Ltd, a rental and services firm for equipment headquartered in China, rolled out a 200-ton all-terrain crane, specifically engineered to handle challenging lifting tasks in building construction, bridge works, and long-reach set-ups, even under hard site environments. The crane comes with outstanding load capacity and an elongated boom, allowing it to handle numerous heavy lift operations. Its adaptable and effective performance positions it as an ideal choice for expansive construction sites having intricate lifting needs.

What Are the Emerging Segments in the Crane Rental Market?
The crane rental market covered in this report is segmented -

1) By Type: Mobile Cranes, Fixed Cranes
2) By Weight Lifting Capacity: Low, Low-Medium, Heavy, Extreme Heavy
3) By End Use: Buildings And Constructions, Marine And Offshore, Mining And Excavation, Oil And Gas, Transportation, Other End Users

Subsegments:
1) By Mobile Cranes: Truck-Mounted Cranes, Rough Terrain Cranes, All-Terrain Cranes, Crawler Cranes, Floating Cranes
2) By Fixed Cranes: Tower Cranes, Level Luffing Cranes, Hammerhead Cranes, Gantry Cranes, Bridge Or Overhead Cranes

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Who Are the Global Leaders in the Crane Rental Market?
Major Companies operating in the crane rental market are Liebherr Group, Mammoet Holding B.V., ere*x Corporation, Konecranes PLC, TNT Crane & Rigging Inc., Sarens NV/SA, Maxim Crane Works LP, BMS Group, Bigge Crane and Rigging Co., Shethia erec*tors and Material Handlers Ltd., Sanghvi Movers Limited, Buckner Heavy Lift Cranes, Capital City Group Inc., Lampson International, Tara Chand Logistic Solutions Ltd, Holland Manufacturing Company Inc., RMS Cranes LLC, Barkat Cranes And Equipments Pvt. Ltd., Amrik Singh And Sons Crane Service Pvt Ltd, Safest Lift Handling Loading And Lifting Equipment Rental LLC.

Which are the Top Profitable Regional Markets for the Crane Rental Industry?
North America was the largest region in the crane rental market in 2024. The regions covered in the crane rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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