The global Cranes Rental Market was assessed at USD 48.1 billion in 2021 and is determined to reach USD 58.1 billion by 2026, garnering an annual growth rate of 6.7% from 2021 to 2026.
Preference of cranes on rental basis rather than purchasing them, coupled with increasing investments in various end-use industries such as building & construction, transportation, and oil & gas, among others is promoting the expansion of this market.
The new trends in the developing economies for the construction of new projects are likely to fuel this business. For instance, the Indian finance minister Nirmala Sitharaman, declared an infusion of $1.4 trillion in the economy to improve infrastructure in the country. The large infusion will take place over the forecast period of 2020-2025, which will result in significant construction of airports, ports, highways, among other projects. The global cranes rental market will witness for very great in amount, scale, or intensity growth especially in Asia Pacific region during the forecast period, The cranes are becoming a common sight in modern constructions as large commercial and residential zones and their optimum production speeds are often absolutely necessary. Cranes are typical in the transport sector, shipyards and freight stations that require their help. Cranes are also a staple feature of the manufacturing industry, wherein combined together in one place for a common purpose of heavy equipment often necessitates renting crane equipment.
Drivers & Restraints in the Cranes Rental Market
The increasing government initiatives, investments in construction, and favourable policies are important way as to be worthy for driving the global cranes rental market. Asia-Pacific is estimated during the outlook period to be a crucial region and witness a huge demand for rental cranes due to the increasing initiatives in buildings and constructions. Moreover, the increasing trend of mobile cranes is an important way to be worthy of attention for driving the global cranes rental market.
The Asia Pacific is estimated to register the highest Compound annual growth rate in cranes rental market, in terms of value. This growth is contributing to increasing investment and rising population levels. Mobile cranes accounted for largest share because it’s coast effectiveness, less time consumption and ease of installation as compared with fixed cranes.
Recent Developments
May 2019, in south-west Germany, Mammoet obtained MEYER Anlagenbau GmbH & Co. KG, which is a heavy lifting and installation expert. By this purchase, Mammoet was able to expand its value judgement or opinion with heavy installation expertise and extended its foothold in south-western Germany.
January 2019, in Houston ALE, was planning to open a new branch office, Texas and certified it as the official headquarters of ALE. The expansion was planned to increase operational capability by recruiting additional experienced personnel and investing in the latest heavy lifting and transport equipment.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 – 2025 |
|
Base Year |
2020 |
|
Forecast Period |
2021 - 2026 |
|
CAGR |
6.7% |
|
Segments Covered |
By Type, End-use, Weight Lifting and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Sarens NV (Belgium), Mammoet (Netherlands), ALL Erection & Crane Rental Corp. (US), Lampson International LLC (US), Action Construction Equipment Ltd. (India), Maxim Crane Works, L.P. (US), ALE (US), Sanghvi Movers Limited (India), Deep South Crane and Rigging (US) |
Cranes Rental Market is segmented into the following categories as per the research report until 2026.
Cranes Rental Market - By Type
By type, Mobile cranes are likely to occupy the largest share in cranes rental market during the outlook period due to its wide acceptance in various end-use industries like building & construction, and transportation.
Cranes Rental Market - By Weight Lifting Capacity
By weight lifting capacity, Low weight segment accounted for the largest portion in cranes rental business and will have prominent growth over the determined period. This growth is contributing to the increase in various types of activities for construction, repairs, and maintenance around the globe, which is predicted to drive the market boom.
Cranes Rental Market - By End-Use Industry
By end-use industry, the market is isolated or divided into building & construction, marine & offshore, mining & excavation, oil & gas, transportation, industrial and municipal. Building & construction be consistent with commercial & residential buildings and infrastructure is the important consumer in the market.
Cranes Rental Market - By Region
North America
Europe
Asia Pacific
Middle East & Africa
South America
The Asia Pacific region leads the global cranes rental market that is estimated to grow at a significant rate due to the increasing call for cranes on rental basis in a particular region like China, Japan, India, Australia, and other countries. Furthermore, rising population levels and increasing investments from domestic & foreign investors are expected during the conjecture period to drive the growth of the APAC cranes rental market.
Cranes Rental Market – Major Key Market Players
Sarens NV (Belgium),
Mammoet (Netherlands),
ALL Erection & Crane Rental Corp. (US),
Lampson International LLC (US),
Action Construction Equipment Ltd. (India),
Maxim Crane Works, L.P. (US),
ALE (US),
Sanghvi Movers Limited (India),
Deep South Crane and Rigging (US)
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Cranes Rental Market, By Type
6.1.1 Fixed Crane
6.1.2 Mobile Crane
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Cranes Rental Market, By End-Use
6.2.1 Building & Construction
6.2.2 Marine & Offshore
6.2.3 Mining & Excavation
6.2.4 Oil & Gas
6.2.5 Transportation
6.2.6 Industrial
6.2.7 Municipal
6.2.8 Market Size Estimations & Forecasts (2019-2024)
6.2.9 Y-o-Y Growth Rate Analysis
6.2.10 Market Attractiveness Index
6.3 Cranes Rental Market, By Weight Lifting Capacity
6.3.1 Low
6.3.2 Low-Medium
6.3.3 Heavy
6.3.4 Extreme Heavy
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By End-Use
7.2.4 By Weight Lifting Capacity
7.3 Europe
7.3.1 By Country
7.3.2 By Type
7.3.3 By End-Use
7.3.4 By Weight Lifting Capacity
7.4 Asia Pacific
7.4.1 By Country
7.4.2 By Type
7.4.3 By End-Use
7.4.4 By Weight Lifting Capacity
7.5 Latin America
7.5.1 By Country
7.5.2 By Type
7.5.3 By End-Use
7.5.4 By Weight Lifting Capacity
7.6 Middle East and Africa
7.6.1 By Country
7.6.2 By Type
7.6.3 By End-Use
7.6.4 By Weight Lifting Capacity
8. Key Player Analysis
8.1 Sarens NV
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Mammoet
8.3 ALL Erection & Crane Rental Corp
8.4 Lampson International LLC
8.5 Action Construction Equipment Ltd
8.6 Maxim Crane Works, L.P
8.7 ALE
8.8 Sanghvi Movers Limited
8.9 Deep South Crane and Rigging
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of raw type, weight lift capacity, end-use along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Cranes Rental Market By Region, From 2021-2026( USD Billion )
Global Cranes Rental Market By Type, From 2021-2026( USD Billion )
Global Fixed Crane Market By Region, From 2021-2026( USD Billion )
Global Mobile Crane Market By Region, From 2021-2026( USD Billion )
Global Cranes Rental Market By End-Use, From 2021-2026( USD Billion )
Global Building & Construction Market By Region, From 2021-2026( USD Billion )
Global Marine & Offshore Market By Region, From 2021-2026( USD Billion )
Global Mining & Excavation Market By Region, From 2021-2026( USD Billion )
Global Oil & Gas Market By Region, From 2021-2026( USD Billion )
Global Transportation Market By Region, From 2021-2026( USD Billion )
Global Industrial Market By Region, From 2021-2026( USD Billion )
Global Municipal Market By Region, From 2021-2026( USD Billion )
Global Cranes Rental Market By Weight Lifting Capacity, From 2021-2026( USD Billion )
Global Low Market By Region, From 2021-2026( USD Billion )
Global Low-Medium Market By Region, From 2021-2026( USD Billion )
Global Heavy Market By Region, From 2021-2026( USD Billion )
Global Extreme Heavy Market By Region, From 2021-2026( USD Billion )
