Cranes Rental Market Valued at USD 51.05 Billion in 2023: Projected to Reach USD 75.61 Billion by 2030 with a CAGR of 5.77%

The 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at USD 51.05 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2030, reaching nearly USD 75.61 billion by 2030. This substantial growth is fueled by increasing construction and infrastructure projects across the globe, with significant contributions from emerging economies.

𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The global cranes rental market is experiencing rapid growth, primarily driven by the expansion of the construction industry and the increasing preference for rental solutions over ownership. The market benefits from large-scale infrastructure projects and urbanization trends, which necessitate versatile and cost-effective crane solutions. Mobile cranes dominate the market due to their flexibility and ease of transportation. Other types, such as tower cranes, rough terrain cranes, and all-terrain cranes, cater to various specialized needs across industries. Regionally, Asia-Pacific leads the market, supported by significant investments in infrastructure in China and India, while North America and Europe also demonstrate robust growth driven by ongoing construction and infrastructure refurbishment projects.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐒𝐞𝐞 𝐭𝐡𝐞 𝐓𝐫𝐞𝐧𝐝𝐬? 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨𝐝𝐚𝐲:https://www.stellarmr.com/report/req_sample/Cranes-Rental-Market/2182

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭:

The primary drivers of the cranes rental market include:

Flexibility and Cost-Effectiveness: Renting cranes offers an economical alternative to purchasing, allowing businesses to adjust equipment needs according to project requirements. This is particularly relevant in regions like North America and Europe, where infrastructure redevelopment projects are prevalent.
Technological Advancements: Modern cranes equipped with safety enhancements, increased lifting capacities, and fuel efficiency have heightened their appeal for rentals. Smart cranes with integrated IT and AI further optimize operational efficiency and safety.
Global Construction Boom: Accelerated construction activities, especially in emerging economies like India and China, are driving demand for crane rentals. These markets benefit from government-led infrastructure projects and urban development initiatives.

𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Key trends shaping the cranes rental market include:

Integration of Smart Technologies: The incorporation of IoT, AI, and real-time analytics in cranes enhances operational efficiency, minimizes downtime, and improves safety. These advancements are increasingly influencing rental preferences.
Sustainability and Eco-Friendly Equipment: The industry is witnessing a shift towards fuel-efficient and environmentally friendly cranes, aligning with global sustainability goals.
Regional Growth in Emerging Markets: Rapid urbanization and industrialization in Asia-Pacific, particularly in China and India, continue to dominate market growth. Additionally, regions like the Middle East and Africa are experiencing increased demand due to large-scale infrastructure and oil and gas projects.
Expansion of Rental Fleets: Leading players are focusing on expanding their rental fleets and offering customized solutions to meet the diverse needs of various sectors.

𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐜𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.stellarmr.com/report/enquire_now/Cranes-Rental-Market/2182

𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐔𝐩𝐝𝐚𝐭𝐞𝐬

𝐕𝐢𝐞𝐭𝐧𝐚𝐦: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam's booming construction sector, fueled by government-backed infrastructure projects and foreign direct investments, has significantly boosted the demand for crane rentals. The country is witnessing increased adoption of mobile and tower cranes to meet construction demands. Recent mergers, such as VietRent Machinery's partnership with Liebherr, underline the consolidation efforts in the Vietnamese market. Trends indicate an uptick in demand for eco-friendly and hybrid cranes to align with Vietnam's sustainability goals.

𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand's cranes rental market is thriving, supported by large-scale projects like the Eastern Economic Corridor (EEC). The market is expected to grow at a steady CAGR of 5.8% through 2030. Major players such as Bangkok Equipment Rentals and Kobelco Construction Machinery have expanded their fleets to cater to the rising demand. Consolidation efforts have been observed, with mergers aimed at increasing operational efficiency and market reach.

𝐉𝐚𝐩𝐚𝐧: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan's cranes rental market is characterized by its advanced technology and high adoption of automated machinery. The construction of smart cities and ongoing preparations for global events are key drivers. Sumitomo Heavy Industries and Mitsubishi Corporation have been instrumental in shaping the market landscape through acquisitions and strategic partnerships. The trend toward renting cranes with AI and IoT capabilities is gaining momentum in Japan.

𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea's robust manufacturing and construction sectors are fueling the growth of the cranes rental market. Major developments include Hyundai Construction Equipment's merger with Doosan Infracore, which has strengthened the competitive dynamics in the market. The government's focus on green infrastructure is also driving demand for hybrid cranes and electric-powered machinery.

𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore's cranes rental market is marked by technological advancements and a focus on high-efficiency equipment. Recent collaborations between Tat Hong Holdings and Hitachi Construction Machinery have enabled the introduction of cutting-edge cranes in the market. Updation efforts are evident with rental companies integrating digital platforms for real-time tracking and monitoring of equipment.

𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐒

The United States remains a significant player in the global cranes rental market, driven by massive infrastructural investments and the resurgence of industrial activities. The market's CAGR is projected at 6.3%, with leading companies like Maxim Crane Works and United Rentals focusing on expanding their fleet size. Recent mergers include Bigge Crane and Rigging Co.'s acquisition of smaller regional players, enhancing its market presence.

𝐄𝐮𝐫𝐨𝐩𝐞: 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe's cranes rental market is set to grow steadily, supported by initiatives like the European Green Deal. The adoption of electric and hybrid cranes is gaining traction across countries such as Germany, France, and the UK. Key players like Sarens Group and Mammoet are leading the market, focusing on innovative rental solutions and eco-friendly equipment. Recent consolidations in the market include partnerships aimed at meeting stringent environmental regulations.

𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭

Integration of Digital Platforms: Companies worldwide are leveraging digital platforms to streamline operations and enhance customer experience.

Eco-Friendly Equipment: Rising environmental concerns are driving the adoption of electric and hybrid cranes.

Strategic Partnerships: Collaborations between key players and technology providers are accelerating market growth.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐮𝐥𝐥 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.stellarmr.com/report/req_sample/Cranes-Rental-Market/2182

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭:

By Type

Mobile Cranes
Fixed Cranes
Others

By Weight Lifting Capacity

Light-duty cranes
Heavy-duty cranes

By Application

Construction
Industrial
Utilities
Others

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐯𝐢𝐬𝐢𝐭:https://www.stellarmr.com/report/Cranes-Rental-Market/2182

𝐖𝐡𝐨 𝐢𝐬 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐞𝐫𝐬 𝐨𝐟 𝐂𝐫𝐚𝐧𝐞𝐬 𝐑𝐞𝐧𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞?

Ainscough Crane Hire
Al Faris
Barnhart Crane and Rigging
Bigge Crane and Rigging Co.
Mammoet
Lampson International LLC
Maxim Crane Works, L.P.
Sarens
United Rentals, Inc.
Tat Hong Holdings Ltd
Action Construction Equipment Ltd.
Buckner Heavylift Cranes
Deep South Crane & Rigging
Sanghvi Movers Limited
ALE Heavylift
Vestas Wind Systems A/S
Zoomlion Heavy Industry Science & Technology Co., Ltd.
Liebherr Group

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

♦ FMCG Packaging Market https://www.stellarmr.com/report/FMCG-Packaging-Market/1154
♦ Functional Food Ingredients Market https://www.stellarmr.com/report/Functional-Food-Ingredients-Market/1156
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♦ Ice Cream Market https://www.stellarmr.com/report/Ice-Cream-Market/1168
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♦ Semiconductor Foundry Market https://www.stellarmr.com/report/Semiconductor-Foundry-Market/1194
♦ Shipping Container Market https://www.stellarmr.com/report/Shipping-Container-Market/1195

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
sales@stellarmr.com

𝐀𝐛𝐨𝐮𝐭 𝐒𝐭𝐞𝐥𝐥𝐚𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.