Cranes Rental Market Size By Product (Mobile Crane [All-terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane], Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]), By Application (Construction & Mining, Manufacturing,

Cranes Rental Market Size By Product (Mobile Crane [All-terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane], Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]), By Application (Construction & Mining, Manufacturing, Utility, Transportation, Oil & Gas), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2032

Cranes rental market is anticipated to grow at robust rate between 2023 and 2032 owing to the increasing demand for hybrid and electric models and low-level access machines to be used in infrastructure and maintenance activities. Swiftly changing technology and regular product launches are also increasing the scope of the market.

In addition, cranes rental services are widely applied to save time in project completion, on-site setup, and transportation. Besides, there are several crane rental firms in the market, who offer professional installation and maintenance services. This enhances renting convenience with users, which will further contribute to the prospect for cranes rental market.

Based on product, the cranes rental market is characterized by the mobile crane segment. Across the segment, the market valuation is likely to be driven by the growing demand for truck loader cranes. Its high lifting capacity and lacing with stabilizers aid in keeping the crane steady while lifting heavy loads. Truck-mounted cranes can quickly load and unload without any additional lifting equipment, making them a desirable solution in mining and construction industry.

In addition, the gantry cranes demand will also expand due to benefits like custom heights, mobility, and capacity strength. Their designs are simple and can be easily used in various buildings.

On the basis of application, the cranes rental market has been subdivided into construction & mining, utility, oil & gas, manufacturing, and transportation. Among these, the manufacturing segment is expected to grow at over 3% CAGR over the analysis timeframe. In the production lines and manufacturing units, the demand for rental cranes will increase in the upcoming times. These cranes are agile, easy-to-use, and cost-effective and can be used for lifting operations like raw material pre-fabrication, manufacturing of parts, assembling, heat treatment and grinding, and shipping.

In the regional context, the market has been fragmented into North America, Asia Pacific, MEA, Europe, and Latin America. Among these, the Europe cranes rental market is experiencing a gradually increasing demand for low or zero emission equipment. This is facilitated by stringent emission regulations, like the European Stage V for heavy machinery, which is encouraging manufacturers, contractors, and project managers to adopt advanced low-emission equipment.

The cranes rental market is highly fragmented and there are a huge number of small and large companies, which work on both regional as well as on global levels. The small ones generally operate with a few locations across a few states. But there are public companies, that operate on national and global level.