Crane Rental Market Overview:
Global Crane Rental Market size and share is currently valued at USD 50.63 billion in 2024 and is anticipated to generate an estimated revenue of USD 82.39 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.00% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Key Market Drivers:
- Construction Industry Expansion: The surge in infrastructure projects worldwide elevates the demand for crane rentals.
- Cost Savings: Renting cranes offers a cost-effective solution for companies, eliminating the need for significant capital investment.
- Project Versatility: Access to a variety of crane types through rental services allows companies to undertake diverse projects efficiently.
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Key Companies in Crane Rental Market:
- Action Construction Equipment Ltd.
- Furukawa UNIC Corporation
- Liebherr
- Mammoet
- Manitex International Inc.
- Maxim Crane Works
- Palfinger AG
- Sany Group
- Serens N.V.
- The Manitowoc Company, Inc.
- United Rentals Inc.
Crane Rental – Research Scope
Research in the crane rental market focuses on the demand for specialized lifting equipment across industries such as construction, oil and gas, and infrastructure development. The scope includes analyzing rental models, fleet management strategies, and technological advancements like telematics in cranes. Market dynamics, regional demand variations, and sustainability initiatives, such as eco-friendly crane systems, are also covered.
Crane Rental Market Segmentation:
The crane rental market is segmented by crane type, end-use industry, and region. Crane types include mobile cranes, tower cranes, and crawler cranes. End-use industries encompass construction, oil & gas, shipbuilding, and infrastructure development. Regional segmentation includes North America, Europe, Asia-Pacific, and Middle East & Africa, with Asia-Pacific leading due to extensive infrastructure projects.
Crane Rental Market, Type Outlook (Revenue – USD Billion, 2019-2032)
- Mobile Cranes
- Fixed Cranes
Crane Rental Market, Weight Lifting Outlook (Revenue – USD Billion, 2019-2032)
- Low
- Low to Medium
- Heavy
- Extreme Heavy
Crane Rental Market, End Use Industry Outlook (Revenue – USD Billion, 2019-2032)
- Buildings & Constructions
- Infrastructure
- Oil & Gas
- Mining & Excavation
- Transportation
- Marine & Offshore
- Others
Crane Rental Industry Developments:
- October 2022: MYCRANE introduced an online platform aimed at improving crane rental efficiency for the construction industry in North America. The platform’s launch was accompanied by the establishment of a new office in Houston, Texas, to support regional operations.
- October 2023: MYCRANE expanded its operations to Saudi Arabia, leveraging successful funding to enhance crane rental services in the region. This move aligns with Saudi Arabia’s ambitious growth plans, emphasizing the adoption of advanced technology to drive efficiency in the construction sector.
The Crane Rental market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.