This site uses cookies, including third-party cookies, that help us to provide and improve our services.

Read More

Tower Crane Rental Market

Tower Crane Rental Market By Lifting Capacity(Up to 5 Tons, 5 – 10 Tons, 10 – 20 Tons), Product Type(Self-Erecting, Hammerhead Crane), Design Type(Top Slewing Tower Crane, Bottom Slewing Tower Crane), Applications(Building and Construction, Marine and Sea Ports), & Region – Forecast 2021 - 2031

Tower Crane Rental Market By Lifting Capacity(Up to 5 Tons, 5 – 10 Tons, 10 – 20 Tons), Product Type(Self-Erecting, Hammerhead Crane), Design Type(Top Slewing Tower Crane, Bottom Slewing Tower Crane), Applications(Building and Construction, Marine and Sea Ports), & Region – Forecast 2021 - 2031

Tower Crane Rental Market By Lifting Capacity, Product Type, Design Type, Vendor Type, Applications, & Region for 2021 – 2031 : Analysis and Review

Tower Crane Rental Market

[322 Pages Report] As per newly released data by Future Market Insights (FMI), the demand in the tower crane rental market grew by year-on-year (YoY) rate of 4.8% in 2021, reaching a market valuation of US$ 6.49 Bn.

Expanding at a 5.7% CAGR, sales of tower crane rentals are projected to top 54,685 units over the forecast period, with China, Germany and Japan emerging as key producers in the market.

Key Points Covered in Tower Crane Rental Market Survey

  • Market estimates and forecast 2015-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Global Tower Crane Rental Market and How to Navigate
  • Recommendation on Key Winning Strategies

2016-2020 Global Tower Crane Rental Market Outlook Compared to 2021-2031 Forecast

Demand for tower crane rentals grew at 1.5% CAGR between 2016 and 2020. The outbreak of the novel COVID-19 dampened sales prospects due to restrictions in movement and disrupted supply chains.

The negative impact of COVID-19 pandemic has been felt in the construction industry as well. Tower cranes are widely used in the construction industry for transportation of heavy material and pre-made structures to be assembled at the location. Suspension of construction activities during first quarter of 2020 therefore resulted in decelerating demand during for tower cranes.

However, with expedited vaccine drives and resumption of production activities across various sectors, FMI projects the global tower crane rentals market to achieve its pre-pandemic status over the forecast period, growing at a 5.7% CAGR.

What are the Key Trends Driving Sales of Tower Crane Rentals?

Rapid urbanization in developing and developed economies is spurring demand for crane rentals, and the trend is anticipated to continue over the forecast period. Besides this, government initiatives promoting the development of smart cities and improvements in the power generation sector will continue augmenting growth in the global tower crane rental market.

User-friendliness, safety, and reliability offered by tower cranes are other factors driving their adoption in a variety of end-use industries. With the adoption of tower crane rental services, manufacturers can reduce cost of operations as rental services provide access to a range of modern equipment and operational flexibility depending upon the requirements of the manufacturers.

With the help of rental services, organizations can streamline operations such as procurement of equipment, maintenance, transportation, and assets disposal. Owing to these factors, manufacturers operating in the tower crane rental market are emphasizing on providing tower cranes equipped with advanced technological features and safety requirements. As a result, demand for tower crane rentals is anticipated to witness upswings in the forthcoming years.

Stringent Emission Control Legislations to Stunt Market Growth

In some regions, the construction equipment industry must comply with strict legislation to attain certain standards of construction equipment. Government authorities formed to promote environmental conservation such as the Pollution Control Agency and the Environmental Protection Agency have launched regulations to promote sustainable production activities in the construction and manufacturing industries, which is encouraging companies to minimize industrial operations that generate emissions and toxic fumes.

Besides this, lack of skilled professionals for operating tower cranes might hamper sales of tower crane rentals. These equipment are heavy and larger in size, therefore, careful handling is the most crucial step while operating tower cranes. Failure and accidents can result in social and economic losses, which can further have a negative impact on demand for tower crane rentals.

Country-wise Insights

How Will Tower Crane Rentals Sales Fare Across China?

As per FMI’s analysis, China is projected to emerge as an attractive tower crane rentals market, holding 76.7% of the East Asia market share. Rapid expansion of the construction industry, along with investment in new projects towards the expansion of civic infrastructure in the country will continue driving sales of tower crane rentals over the forecast period.

China is home to one of the largest construction industries in the world, which requires a consist supply of construction equipment and heavy machinery, resulting in high demand for tower cranes.

Driven by these factors, China is projected to dominate the East Asia tower crane rentals market in the forthcoming years, providing avenues for growth for key market players.

Will Germany Continue Exhibiting High Demand for Tower Crane Rentals?  

Germany is projected to dominate the Europe tower crane rentals market, expanding at a 4.5% CAGR over the forecast period. Growth can be attributed to the presence of OEMs in the country, coupled with increasing applications of tower cranes in the residential and commercial sector.

How Will the Tower Crane Rental Market Expand Across India?

Due to expansion of the construction sector, the India has emerged as the second largest tower crane rental market in South Asia Pacific, accounting for 43.1% of the overall sales.

Increasing construction activities and civic utilities applications in India are resulting in high demand for tower cranes, which in turn is shaping the sales outlook of tower crane rentals in India positively.

Further, government investments for promoting infrastructural development in the country, along with increasing mining activities in India are anticipated to continue spurring demand for tower crane rentals in the forthcoming years.

Category-wise Insights

Top Slewing Tower Cranes Rentals to Remain Highly Sought After

Based on design, the top slewing segment is projected to account for 60.4% of the total tower crane rental market share in 2021. The demand for various tower crane design types vary from region to region. In North America and Middle East & Africa, top slewing platforms are expected to contribute the maximum market share global tower crane market. Demand for top slewing platforms in Asia Pacific is expected to propel boost over the forecast period as industrialization and urbanization continues picking up pace.

Applications of Tower Crane Rentals in the Construction Sector to Continue Rising

As per FMI’s analysis, the construction industry accounts for 59.3% of the total tower crane rental market share.  Growing demand can be attributed to expansion of large-scale industries and the civic utilities segment, the cranes are used for small scale infrastructure projects. In addition, increasing prominence of high-rise buildings in developed and developing countries across the globe is expected to drive sales of tower crane rentals over the assessment period.

OEMs to Remain the Most-Preferred Vendor Type

The OEM segment is estimated to account for 40.2% of the total tower crane rental market share. Benefits offered by OEMs such as access to better quality and technologically advanced equipment, customization in fleet size, and aftersales services are propelling demand for tower crane rentals in the market.

The segment is projected to gain 170 BPS over independent service providers during the forecast period. With OEMs direct venturing into rental sales, the supply chain costs will be saved without the employment of external channel partners or intermediaries, allowing the OEMs to focus on customer supply contracts, aftersales services, and relationship management.

Competitive Landscape

Leading players operating in the global tower crane rental market are focusing on intensive research and development for launching innovative products and services in the market. Along with this, manufacturers are aiming at strategic collaborations with end-users and regional distributors to address the requirements of an expanding customer base. Brand consciousness and aggressive marketing makes it challenging for new entrants in this market. For instance:

  • In July 2021, Maxim Crane Works, L.P. purchased 51 grove cranes from Manitowoc, a Wisconsin-based tower crane rental service provider, to expand its product portfolio to cater to its growing consumer base.

Scope of Report



Forecast Period


Historical Data Available for


Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia Pacific, Middle East & Africa

Key Countries Covered

US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, Hungary, Poland, NORDICS, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, and South Africa

Key Segments Covered

Lifting Capacity, Design Type, Product Type, Vendor Type End-Use, and Region.

Key Companies Profiled

  • Konecranes
  • Liebherr
  • Mammoet
  • Maxim Crane Works, L.P.
  • Morrow Equipment Company
  • Morwest Crane & Services
  • Bigge Crane and Rigging Co.
  • Stafford Crane Group
  • Leavitt Cranes
  • United Crane & Rigging
  • Locabens Equipamentos
  • Grumont Equipamentos Ltda
  • JASO Group
  • Arcomet
  • WOLFFKRAN International AG
  • Uperio Group
  • Al Faris
  • KAR Group
  • CC Crane Hire
  • Industrial Leasing Corporation
  • Kanamoto Co., Ltd.
  • Tat Hong Holdings Ltd.
  • Action Construction Equipment Ltd.
  • SYM Hoist & Tower Crane Equipment Co., Ltd.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Sign Up with MarketNgage

World's Most Profilic Intelligence Engine

Get Access To The World's Largest Market Research Database.

Sign Up Now

Global Tower Crane Rental Market by Category

By Lifting Capacity:

  • Up to 5 Tons
  • 5 – 10 Tons
  • 10 – 20 Tons
  • 20 – 50 Tons
  • Above 50 Tons

By Product Type:

  • Self-Erecting
  • Hammerhead Crane
  • Luffing Jib Tower Crane
  • Mobile Tower Crane

By Design Type:

  • Top Slewing Tower Crane
  • Bottom Slewing Tower Crane

By Vendor Type:

  • Original Equipment Manufacturer (OEM)
  • Independent Service Provider

By Applications:

  • Building and Construction
    • Residential and Commercial
    • Industrial
    • Civic Infrastructure
  • Marine and Sea Ports
  • Mining
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

Key Questions Answered in the Report

What is the current tower crane rental market value?

The global tower crane rental market reached a valuation of US$ 6,496.5 Mn in 2021.
The global tower crane rental market grew at a sluggish 1.55 CAGR between 2016 and 2020.
Differentiation of rental services support and subscription plans, coupled with market players expanding their global and regional footprints are driving sales of tower crane rentals in the market.
Leading players operating in the global tower crane rental market comprise Al Faris, Kanamoto Co., Ltd., Konecranes, Mammoet and Uperio Group.
The North American tower crane rental market is projected to grow at a 5.7% CAGR over the forecast period.
Leading players in the global tower crane rental market are estimated to account for approximately 41% of the total market share.
The tower crane rental market in Europe is anticipated to expand at a 4.7% CAGR over the forecast period.
Japan and South Korea will collectively account for 8% of the total tower crane rental market share.

Need specific information?

Our Clients

Industrial Automation

View All Reports from Industrial Automation

View Reports



Cbrn Protection Equipment Market

Published : 2020-02-05


Woodworking Circular Saw Blades Market

Published : 2020-02-11


Loader Bucket Attachments Market

Published : 2020-02-12


Woodworking Router Bits Market

Published : 2020-02-17