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Tower Crane Rental Market to Grow from USD 16.3 Billion in 2024 to USD 22.1 Billion by 2030 at 5.2% CAGR - Tower Crane Rental Market forecast
Tower Crane Rental Market
According to a MarketsandMarkets report, the global Tower Crane Rental Market was valued at USD 16.3 billion in 2024 and is projected to reach USD 22.1 billion by 2030, growing at a CAGR of 5.2%-a trend driven by surging high-rise construction and infrastructure demand.
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◉ Key Highlights
Market Size & CAGR: USD 16.3 billion (2024) → USD 22.1 billion (2030) at 5.2% CAGR.
Top Region: Asia-Pacific leads in 2024, thanks to rapid urbanization and smart-city development.
High-Growth Regions: Strong demand also from Middle East, Latin America, and North America.
Fastest-Growing Segment by Capacity: Mid-range tower cranes (20-100 tons), ideal for dense urban sites.
Infrastructure Applications: Infrastructure projects (metro, highways, urban development) are accelerating growth.
Key Trends: Advanced safety and efficiency via LIDAR, AI, telematics; enabling smarter, automated crane operations.
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◉ Body Content
Market Outlook
The tower crane rental market is forecast to grow from USD 16.3 billion in 2024 to USD 22.1 billion by 2030, with a steady 5.2% CAGR, driven by surging infrastructure needs and urban high-rise projects.
Regional Insights
Asia-Pacific dominates the market, led by China, India, and Japan, where urban development, infrastructure expansion, and safety mandates are fueling demand.
North America supports growth through robust commercial and residential building activity, especially in major cities.
Latin America & MEA are emerging markets, buoyed by infrastructure investments.
Segments & Applications
Capacity-wise: Mid-range cranes (20-100 tons) are rapidly gaining due to their adaptability in urban sites.
End-Use: Infrastructure projects-metro, roads, smart-city-are among the fastest-growing segments.
Drivers & Innovations
Demand is propelled by high-rise construction, infrastructure spending, operational flexibility of renting vs. owning, and enhanced safety via automation and remote operation. New technologies-such as LIDAR-based anti-collision systems and telematics-are raising operational safety and efficiency.
Challenges
High operational and maintenance costs, regulatory compliance, and availability of skilled operators challenge market growth.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-tower-crane-rental-market/69597/
◉ Quote
"With the Tower Crane Rental Market forecast to expand by nearly USD 6 billion by 2030, growth will hinge on integrating smarter safety systems and cost-efficient fleet operations tailored to urban and infrastructure demands," said a construction industry analyst.
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