Global Tower Crane Rental Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Tower Crane Rental Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Tower cranes are the modern balanced cranes that consist of various basic parts. The high lifting capacity and height of tower cranes enable them to be used in construction of tall structures.

Market Overview:

The latest research study on the global Tower Crane Rental market finds that the global Tower Crane Rental market reached a value of USD 897.91 million in 2022. It’s expected that the market will achieve USD 1102.0 million by 2028, exhibiting a CAGR of 3.47% during the forecast period.

Drivers

The reform of economic system has promoted the growth of tower crane leasing industry. Because of the full implementation of the recruitment and investment system in infrastructure construction, construction enterprises are facing fierce market competition. Competition depends on quality, cost and speed. Improvement of Engineering quality, reduction of operating costs and guarantee of construction progress are closely related to engineering machinery and equipment. Tower crane leasing can minimize equipment occupancy funds, optimize equipment allocation, improve the utilization of equipment, and speed up the turnover of enterprise funds.
With the rapid development of modern science and technology, the application of new technologies, new materials and new technologies in engineering construction emerges in endlessly. The scale of engineering projects is getting larger and larger, the requirement of engineering quality is getting higher and higher, and the restriction of environmental protection is getting stricter and stricter. Therefore, the renewal of tower crane is getting faster and faster. Prospective contractors should have necessary technical reserves for their own construction equipment, maintain their leading position in technology to facilitate competition, but cannot blindly procure. The strength of the leasing industry is conducive to maintaining the advanced nature of construction equipment, thereby avoiding the risk of undertaking backward technology.

Restraints

Lack of professional leasing talent
Because of the lack of professionals engaged in modern leasing industry in developing countries, the research on leasing theory in developing countries is insufficient. Most of them refer to some developed documents, but few of them are really assimilated and absorbed. There are some deviations in the understanding integrity and accuracy of rental practitioners. For example, financial lease which only represents the simple form of financial lease is equivalent to the whole connotation of financial lease. This one-sided understanding makes the decision makers of leasing policy and the employees of leasing companies equate financial leasing with bank loans, thus aggravating the confusion of the financial leasing market in developing countries and hindering the healthy development of the leasing market.
Imperfect leasing regulations
The development of construction machinery leasing industry needs the support of government regulations. At present, the leasing industry of construction machinery in developing countries cannot be relied on, the parties to the leasing contract do not have a unified code of conduct, and the legitimate rights and interests of the leasing contract cannot be effectively guaranteed. In engineering bidding, the legality of leased property has not been recognized.

Region Overview:

Europe is projected to account for a considerable share of the Tower Crane Rental market and is expected to become the largest region by 2028.

Company Overview:

Shaanxi Construction Machinery Co., Ltd. is one of the major players operating in the Tower Crane Rental market, holding a share of 5.11% in 2023.

Shaanxi Construction Machinery Co., Ltd.

Shaanxi Construction Machinery Co., Ltd. engages in the research, development, manufacture, sale, and lease of construction machinery in China and internationally. It offers asphalt concrete pavers, road milling machines, asphalt concrete mixing equipment and paving machines, tracked asphalt pavers, drum vibratory rollers, and tire rollers; rotary drilling rigs; and lifting machinery, as well as bridge construction equipment and metal steel structures.

Arcomet

Over the last few decades, Arcomet, specializing in tower cranes and self-erecting cranes, became one of the largest crane rental companies in the world. Apart from our succesful rental activity, Arcomet have been manufacturing a range of efficient and robust self-erecting cranes since 1968.

Segmentation Overview:

Among different product types, Hammer Head Cranes segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Residential, with a market share of 41.89% in 2022.

Key Companies in the global Tower Crane Rental market covered in Chapter 3:

Matebat
NFT Europe
Arcomet
WASEL GmbH
Bigge Crane and Rigging Co.
Beijing ZIZHUHUI Construction Services CO., LTD
Falcon Tower Crane Services
Beijing Zenhe Engineering Equipment Service CO.,ltd
BKL Baukran Logistik GmbH
WILBERT TowerCranes GmbH
Maxim Crane Works
Shaanxi Construction Machinery Co., Ltd.
ALL Tower Crane, LLC

In Chapter 4 and Chapter 14.2, on the basis of types, the Tower Crane Rental market from 2018 to 2029 is primarily split into:

Hammer Head Cranes
Flat Top Cranes
Luffing Jib Cranes

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Tower Crane Rental market from 2018 to 2029 covers:

Residential
Commercial
Infrastructure

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)