Tower Crane Rental Service Market Report 2025 (Global Edition)

Global Tower Crane Rental Service Market Report 2025 Market Size Split by Type (Self-Erecting, Luffing Jib, Hammer Head, Flat Top), by Capacity (Less Than 5 Ton, 6 to 10 Ton, More Than 10 Ton), by End...

Tower Crane Rental Service Market Report Description

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Tower Crane Rental Service Market Insights Video

Competitive Landscape of the Tower Crane Rental Service Market

The competitive landscape of the Tower Crane Rental Service market is characterized by a diverse range of players competing to gain market share through product innovation, strategic partnerships, and aggressive marketing efforts. Key players in the market include established electronics manufacturers, specialized Tower Crane Rental Service companies, and emerging start-ups aiming to disrupt the market with innovative solutions.

March 2023: Bigge Crane and Rigging Co announced the acquisition of a majority stake in Empire Crane Company, enhancing their capacity to provide crane solutions across the globe with a comprehensive coast-to-coast service.

(Source: https://www.bigge.com/news-media/press-releases/bigge-and-empire-crane-make-partnership-official-perfect-fleet-comes-to-east-coast/ ) June 2020: Terex Corporation announced Cranbalt as the authorized distributor for Terex Tower Cranes in Sweden.

(Source: https://cranbalt.com/about-us/news/#:~:text=Cranbalt%3A%20new%20Terex%20Towers%20distributor,an%20important%20market%20as%20Sweden. )

Top Companies Market Share in Tower Crane Rental Service Industry: (In no particular order of Rank)

• Skycrane
• All Tower Crane
• Zoomlion ElectroMech India Pvt. Ltd
• Action Construction Equipment
• Leavitt cranes
• L.P. Crane
• Bigge Crane & Rigging Co.
• WASEL Gmbh
• Falcon Tower Crane Service
• Titan cranes & rigging
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Tower Crane Rental Service Market

Which Region Dominates the Tower Crane Rental Service Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue as North America stands out as a notable market for tower crane rental, primarily driven by the abundance of substantial construction projects and ongoing infrastructure development initiatives in the region. In July 2023, construction expenditure witnessed a year-over-year growth of 5.5%. Notably, private construction spending rose by 1.0% following a 1.5% increase in the preceding month, while investment in residential buildings saw a 1.4% uptick.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Tower Crane Rental Service market due to several compelling reasons. ? The swift growth of the construction sector, coupled with investments in new projects aimed at expanding civic infrastructure, will sustain the upward trajectory of tower crane rental sales throughout the forecast period. In 2022, China's construction industry recorded an output surpassing 31 trillion yuan (approximately 4.37 trillion USD), marking nearly a 100% surge compared to a decade earlier.

 

The current report Scope analyzes Tower Crane Rental Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Tower Crane Rental Service

According to Cognitive Market Research, the global Tower Crane Rental Service market size was estimated at USD 12,618.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 5047.2 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Tower Crane Rental Service market with a market size of USD 3982.30 million in 2024 and is projected to grow at a CAGR of 4.2% during the forecast period. The demand is amplified by the nation's infrastructure development boosting demand for Tower Crane Rental Service.
• The Canada Tower Crane Rental Service market had a market share of USD 605.67 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period, due to increasing applications of tower cranes in the residential and commercial sectors.
• The Mexico Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 459.30 million in 2024.

Europe Tower Crane Rental Service

According to Cognitive Market Research, the global Tower Crane Rental Service market size was estimated at USD 12,618.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 3785.4 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

• The United Kingdom Tower Crane Rental Service market had a market share of USD 635.96 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period. In the UK, Tower Crane Rental Service sales witness an upswing due to the growing population and the need for more housing and office space.
• The France Tower Crane Rental Service market is projected to witness growth at a CAGR of 3.9 % during the forecast period with a market size of USD 348.26 million in 2024.
• According to Cognitive Market Research, the Germany Tower Crane Rental Service market size was valued at USD 749.52 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. In Germany, Tower Crane Rental Service sales surged due to the increasing number of high-rise buildings.
• The Italy Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 325.55 million in 2024.
• The Russia Tower Crane Rental Service market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 586.75 million in 2024.
• The Spain Tower Crane Rental Service market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 310.41 million in 2024
• The Luxembourg Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 117.35 million in 2024.
• The Portugal Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 79.49 million in 2024.
• The Greece Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 45.43 million in 2024.
• The Rest of Europe Tower Crane Rental Service market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 586.75 million in 2024.

Asia Pacific Tower Crane Rental Service

According to Cognitive Market Research, the global Tower Crane Rental Service market size was estimated at USD 12,618.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 2902.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Tower Crane Rental Service market size was valued at USD 1305.98 million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. Tower Crane Rental Service sales surged in China due to the increasing number of government initiatives for industrialization.
• The Japan Tower Crane Rental Service market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 400.50 million in 2024.
• The India Tower Crane Rental Service market had a market share of USD 348.26 million in 2024 and is projected to grow at a CAGR of 10.0% during the forecast period. The demand is augmented by an increasing number of businesses setting up in the region.
• The South Korea Tower Crane Rental Service market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 290.22 million in 2024.
• The Australia Tower Crane Rental Service market is projected to witness growth at a CAGR of 7.9% during the forecast period with a market size of USD 150.91 million in 2024.
• The South East Asia Tower Crane Rental Service market is projected to witness growth at a CAGR of 9.2% during the forecast period with a market size of USD 200.25 million in 2024.
• The Rest of the Asia Pacific Tower Crane Rental Service market is projected to witness growth at a CAGR of 8.0% during the forecast period with a market size of USD 206.06 million in 2024.

South America Tower Crane Rental Service

According to Cognitive Market Research, the global Tower Crane Rental Service market size was estimated at USD 12,618.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 630.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Tower Crane Rental Service market size was valued at USD 270.03 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period. Tower Crane Rental Service sales flourish in Brazil due to the region's growing oil and gas industry.
• Argentina Tower Crane Rental Service market had a market share of USD 105.99 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. The demand is augmented by Argentina's region's growing population and economic development.
• Colombia Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 56.15 million in 2024.
• Peru Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 51.73 million in 2024.
• Chile Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.9% during the forecast period with a market size of USD 45.43 million in 2024.
• The Rest of the Latin America Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 101.58 million in 2024.

Middle East Tower Crane Rental Service

According to Cognitive Market Research, the global Tower Crane Rental Service market size was estimated at USD 12,618.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 252.3 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.

• The GCC Countries Tower Crane Rental Service market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 108.01 million in 2024. Tower Crane Rental Service sales flourish due to the g growing tourism industry.
• The Egypt Tower Crane Rental Service market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 26.50 million in 2024.
• The South Africa Tower Crane Rental Service market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 39.87 million in 2024. Tower Crane Rental Service sales flourish in South Africa due to foreign investment, and new technologies and services.
• The Turkey Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.4% during the forecast period with a market size of USD 21.70 million in 2024.
• The Nigeria Tower Crane Rental Service market is projected to witness growth at a CAGR of 5.0% during the forecast period with a market size of USD 26.50 million in 2024.
• The Rest of the MEA Tower Crane Rental Service market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 29.78 million in 2024.

Tower Crane Rental Service Market Analysis

Tower Crane Rental Service Market Type Segment Analysis

According to Cognitive Market Research, Hammerhead stands out as the dominating category. Hammerhead cranes have emerged as indispensable assets for addressing the requirements of large-scale construction endeavors, owing to their robust capacity to manage hefty construction tasks. Renowned for their remarkable lifting capabilities, these cranes are specifically engineered to handle substantial loads, rendering them particularly suitable for expansive construction ventures including high-rise buildings, infrastructure expansion, and industrial projects.

Self-erecting emerges as the fastest-growing category in the Tower Crane Rental Service market. The evolution of cutting-edge technology, encompassing features like remote control systems, load monitoring functionalities, and telematics, has significantly enhanced the performance and functionalities of self-erecting cranes. These technological advancements have propelled efficiency, reliability, and user-friendliness, thereby fostering heightened demand for these cranes within the construction domain.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Tower Crane Rental Service Industry. Request a Free Sample PDF!

Tower Crane Rental Service Market Capacity Segment Analysis

According to Cognitive Market Research, the dominating category is the less than 5 ton. In select regions, adherence to local regulations and safety standards may impose limitations on the utilization of larger and heavier cranes at certain construction sites. Low-lifting capacity tower cranes present a compliant solution tailored to meet the safety regulations and specifications of such areas. With safety regulations becoming increasingly stringent, there is a rising demand for low-capacity cranes that align with the specified criteria.

The fastest-growing category in the Tower Crane Rental Service market is the 6–10-ton segment. Medium lifting capacity tower cranes are engineered to operate with optimal efficiency within confined spaces. Striking a balance between lifting capacity and a more compact footprint, these cranes prove ideal for construction sites characterized by limited space or constrained access. Their maneuverability enables seamless positioning in tight spots and closer proximity to the construction zone, maximizing efficiency, particularly in smaller-scale or urban projects.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Tower Crane Rental Service End User Segment Analysis

According to Cognitive Market Research, the dominating category is construction & infrastructure. When renting tower cranes, the rental company assumes responsibility for maintenance and repairs, relieving clients of these concerns. Rental firms typically offer well-maintained and regularly inspected cranes, ensuring dependable performance and mitigating the risk of unexpected downtime. In the event of any issues arising during the rental period, the rental company is accountable for swift resolution, minimizing disruptions to the construction schedule.

The fastest-growing category in the Tower Crane Rental Service market is mining. Mining operations are governed by rigorous safety regulations and standards. Rental companies ensure that their tower cranes adhere to these safety mandates, holding requisite certifications and undergoing necessary inspections. By opting for crane rentals, mining firms can leverage the rental company's expertise in safety compliance, ensuring equipment conformity to mandated standards and fostering a secure working environment.

• Construction and Infrastructure
• Mining
• Energy
• Others

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Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

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