Pune, India, January 2019/MRFR Press Release/- Market research future published a half-cooked research report on the global tower crane rental market. The tower crane rental market is expected to grow over the CAGR of around 5% during the period 2019 to 2023.
Market Highlights
tower crane rental market is anticipated to witness sustainable growth throughout the forecast period. The developing nations are introducing various reforms and regulations for boosting the infrastructure and real estate industries. Such reforms are expected to drive the global tower crane rental market.
The overall tower crane rental market has seen significant growth as small and medium-scale companies are generally unable to afford new tower cranes. Renting a tower crane also allows the contractors to lower the working capital costs of the project and provide access to advanced equipment.
Asia-Pacific is expected to see moderate growth in the tower crane rental market over the forecast period: MRFR
Based on region, the global tower crane rental market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific dominated the global market, followed by North America, and Europe, primarily due to the increasing investments in the construction projects. The construction industry in Asia-Pacific is growing due to the sheer number of construction projects set to go underway. There has been significant growth in the manufacturing and service industry, mainly in emerging economies such as China, India, Indonesia, Thailand, and Brazil. Moreover, China has invested heavily in public infrastructure in the last few years, which has enabled the country to have better access to markets, business integration, and transportation. Such investments by developing countries have increased the demand for tower crane rentals in the region.
The residential segment is expected to occupy a larger share in the overall tower crane rental market
Based on application, the residential segment is expected to exhibit moderate growth rate between the period of 2019 to 2023, especially in Asia-Pacific. This is due to the increasing population and lack of affordable housing structures in the region. Thus, the government in the region have been investing more in the construction sector, resulting in the growth of the market in this region.
Global Tower Crane Rental Market, 2016-2023 (USD Million)
Source: MRFR Analysis
Scope of the Report
This study provides an overview of the global tower crane rental market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global tower crane rental market by product type, end-use, and region.
- By Product Type
- Hammer Head Tower Cranes
- Self-erecting Tower Cranes
- Flat Top Tower Cranes
- Luffing Jib Tower Cranes
- By End-use
- Residential
- Commercial
- Infrastructure
- By Region
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The prominent players in the global tower crane rental market are Bigge Crane and Rigging Co. (US), Action Construction Equipment Ltd (India), Titan Cranes & Rigging (Australia), Leavitt Cranes (Canada), Zoomlion ElectroMech India Pvt. Ltd (India), WASEL GmbH (Germany), ALL Crane (US), United Crane and Rigging (Baltimore, Maryland), Falcon Tower Crane Services (UK), Rapicon Inc. (Canada), Skycrane (Canada), NFT Group (UAE), and Maxim Crane Works, L.P (US).
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Report details
| Base Year | 2019 |
| Companies Covered | 15 |
| Pages | 107 |
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