Tower Crane Market Share, Size, Trends, Industry Analysis Report, By Product Type (Self-Erecting, Luffing Jib, Hammer Head, and Flat Top); By Lifting Capacity; By End Use; By Region; Segment Forecast, 2023-2032

Tower Crane Market Share, Size, Trends, Industry Analysis Report, By Product Type (Self-Erecting, Luffing Jib, Hammer Head, and Flat Top); By Lifting Capacity; By End Use; By Region; Segment Forecast, 2023-2032

The global tower crane market size is expected treach USD 14.27 billion by 2032, according ta new study by Polaris Market Research. The report “Tower Crane Market Share, Size, Trends, Industry Analysis Report, By Product Type (Self-Erecting, Luffing Jib, Hammer Head, and Flat Top); By Lifting Capacity; By End-Use; By Region; Segment Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Increasing investment in public infrastructure development, including dams, bridge power plants, and airports, among others owing tits high stability and ease of carrying overweight as compared tthe other conventional methods, along with the high technological advancements in crane handling equipment are among the key factors boosting the global market growth. Moreover, introducing various types of new material-handling tower cranes with improved capacity and innovative features has attracted much interest and attention from potential buyers and contractors.

For instance, in January 2023, Manitowoc introduced its latest topless tower crane, Potain MCT 1005 M50, with a maximum capacity of 50T and jib lengths of 80cm. The newly developed tower cranes are designed for use in emerging markets and are available with three different counter jib options while enhancing its seamless integration.

Moreover, an increasing number of OEMs offering tower crane rental services is gaining significant traction, as many small and medium-scale developers can afford and leverage these features while enabling them twork in more challenging environments with higher safety and improved productivity. Despite this, the market is a bit unique in the UK for several reasons, as being a developed country with increasingly urbanized areas, land space is at a premium. Due tthis, there is pressure tconstruct buildings on a very small footprint with limited space surrounding them, creating more unique requirements for tower cranes.

Tower Crane Market Report Highlights

Self-erecting segment accounted for the largest market share in 2022, owing tthe wide range of advantageous features including high lifting capacity and excellent reach

6 t10 ton segment held the highest market revenue share in 2022, on account on widespread adoption of cranes with this capacity in the construction industry due tlarge number of designs and features associated with these cranes

Infrastructural construction segment is expected tgrow at a significant CAGR during the projected period, which is largely attributed textensive growth in the infrastructure development related investment

The Asia Pacific region is anticipated temerge as fastest growing region over the study period, due tthe high growth in industrialization and rate of urbanization in emerging economies like India and China

The global key market players include Zoomlion Heavy Industry Science & Technology Company, Action Construction Equipment, Manitowoc Company, and Guangxi Construction Engineering Group

Polaris Market Research has segmented the tower crane market report based on product type, lifting capacity, end-user, and region:

Tower Crane, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

Self-Erecting

Luffing Jib

Hammer Head

Flat Top

Tower Crane, Lifting Capacity Outlook (Revenue - USD Billion, 2019 - 2032)

Less Than 5 Ton

6 t10 Ton

More Than 10 Ton

Tower Crane, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

Building Construction

Infrastructural Construction

Energy

Marine & Sea Ports

Mining

Others

Tower Crane, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa