Tower Crane Rental Market Research Report, Information: by Product Type (Hammer Head Tower Cranes, Self-erecting Tower Cranes, and Flat Top Tower Cranes,), End-use (Residential, Commercial, and Infrastructure), Regions — Forecast till 2027

Tower Crane Rental Market Synopsis:

The global tower crane rental market is expected to witness a CAGR of around 5% over the forecast period.

The market of tower crane rental has witnessed moderate growth in the past couple of years. Adequate height and lifting capacity of the tower cranes enable them to be used in the construction of dam, bridge, high rise building, power plants, and shipyards. Rental of different types of tower cranes, such as hammer head tower cranes, self-erecting tower cranes, flat top tower cranes are available in the market according to different lifting capabilities. The market for tower crane rental is gaining attention at present and is expected to grow at a fast pace during the forecast period. This is because there are many small and medium scale companies that cannot afford purchasing such equipment due to their high cost, the high lifting capacity, and advanced features. At the same time, tower crane rental companies offer such equipment according to client requirements along with the advanced technology and safety requirements, which is less expensive when compared to purchase of new equipment. The type of the tower crane varies on the basis of application requirement. Consumers can rent the various types of tower cranes for a single project, according to their need and for specific time period, which reduces the overall project cost. However, if they purchase the particular variety of tower crane, it will involve high cost. Moreover, with the growth of construction industry, governments across the globe focus on infrastructure development and investing a huge amount of money for it, which fuels the growth of the tower crane rental market. 

Global Tower Crane Rental Market: Regional Analysis

The global tower crane rental market has been segmented into regions of North America, Europe, Asia-Pacific, and Rest of the world (RoW). Asia-Pacific held the largest share in the overall tower crane rental market followed by North America and Europe in 2017, which will continue with its dominance until 2023. This is attributed to the increasing investments in the high-rise construction projects backed by investments in both, commercial and residential construction in the countries such as China and India. This is expected to fuel the demand for tower crane rental in Asia-Pacific during the forecast period.

The Prominent Players

The players in the tower crane rental market include 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). The global tower crane rental market is fairly competitive with a moderate number of players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include high quality product and service, low rental cost, and strategic partnerships and collaborations with the manufacturing companies.

Global Tower crane rental Market: Segmentation

The global tower crane rental market has been segmented on the basis of product type and end-use. On the basis of product type, the market has been classified into hammer head tower cranes, self-erecting tower cranes, flat top tower cranes, luffing jib tower cranes. On the basis of product type, the market has been segmented into hammer head tower cranes, self-erecting tower cranes, flat top tower cranes, luffing jib tower cranes. The self-erecting tower cranes segment held a largest market share in the tower crane rental market in 2017 and is expected to lead as a segment by product type during the forecast period. On the basis of end-use, the market has been segmented into residential, commercial, and infrastructure. The residential segment held the largest market share in the tower crane rental market due to various construction projects for high-rise building. With the growing urbanization, there has been observed a corresponding need for residential spaces, which has led to the increased demand of tower crane rental.

Intended Audience:

• Raw Material Suppliers • End Users • Product Manufacturers • Service provider • Regulatory Bodies • Market Research and Consulting Firms

Report Scope:

Report Attribute/Metric	Details
Market Size	2027: Significant Value
CAGR	5% CAGR (2020-2027)
Base Year	2019
Forecast Period	2020-2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, End-use, Regions
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	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).
Key Market Opportunities	Increasing investments in the high-rise construction projects backed by investments in both, commercial and residential construction
Key Market Drivers	Growing urbanization Growth of construction industry, governments across the globe focus on infrastructure development and investing a huge amount of money

Frequently Asked Questions (FAQ) :

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