The tower crane rental market was valued at USD 16.3 billion in 2024 and is projected to reach USD 22.1 billion by 2030, at a CAGR of 5.2%. This report provides a comprehensive analysis of the industry, including tower crane rental market size, trends, drivers and constraints, competitive aspects, and prospects for future growth. The increase in construction activity across residential, commercial, and infrastructure sectors is propelling the growth of the tower crane leasing industry at an accelerated pace. Leasing cranes reduces capital expenditures and mitigates maintenance costs, making it a financially advantageous option for firms. The incorporation of advanced technological systems—including remote controls, anti-collision mechanisms, and automated operations—substantially enhances operational safety and efficiency, often positioning leasing as the superior choice. Urbanization trends in the Asia Pacific region are driving market expansion, complemented by steady growth in North America and Europe. Government policies that promote worker safety and reduce emissions are facilitating the use of well-maintained, environmentally conscious cranes, such as electric and hybrid models. Nevertheless, the industry faces challenges, notably a shortage of skilled labor and stringent regulatory compliance concerning safety. Overall, governmental initiatives and technological advancements remain pivotal forces shaping the trajectory of the tower crane rental market.
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Low to medium (20–100 tons) to be second fastest-growing segment during forecast period
Tower cranes with a capacity range of 20 to 100 tons are witnessing rapid growth. The increasing construction of mid-rise residential and commercial buildings across Asia Pacific and Latin America primarily influences this surge. These cranes effectively balance lifting power and operational flexibility, particularly in constrained urban job sites. Demand correlates strongly with government infrastructure spending, initiatives like the Smart Cities Mission in India, and Brazil’s strategic urban transport development plans. Furthermore, advancements in telematics, real-time tracking, and enhanced protective measures are significantly streamlining operations for rental companies. In response to market demands, these companies frequently introduce new models incorporating advanced technological features, resulting in improved security, reduced energy consumption, and enhanced user independence.
Infrastructure to be second fastest-growing segment of tower crane rental market during forecast period
The global increase in public infrastructure projects positions the infrastructure sector as the second fastest-growing segment within the tower crane rental market. Significant investments are being directed toward transportation networks, bridges, ports, energy facilities, and urban redevelopment by both governmental and private entities. Tower crane rentals represent a practical and cost-effective solution for these large-scale projects that require robust and versatile lifting equipment. The urgency to complete projects within established timelines and budgets further amplifies this demand. Rental options offer flexibility, reduced maintenance expenses, and access to advanced, large cranes. Additionally, the sector is experiencing growth due to the rising interest in constructing renewable energy infrastructure, such as wind farms and solar plants. The importance of developing infrastructure remains critical in both developed and emerging economies. Consequently, the demand for rental tower cranes is anticipated to escalate rapidly to align with increasingly ambitious goals related to scale, complexity, and sustainability.
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Asia Pacific accounted for largest share of tower crane rental market in 2024
In 2024, Asia Pacific dominated the tower crane rental market, driven by vigorous development across residential, commercial, and infrastructure sectors. Rapid urbanization and industrialization, alongside extensive infrastructure projects in countries such as China, India, and various Southeast Asian nations, have significantly increased the demand for tower crane rentals. Large-scale government initiatives, including China’s Belt and Road Initiative and India’s Smart Cities Mission, further escalate the need for high-capacity and versatile lifting solutions. Financial advantages, expedited deployment, and evolving project specifications primarily influence the region’s growing preference for renting over purchasing heavy equipment. Supportive governmental policies, ongoing urban development, and the expansion of metro lines, highways, and energy projects are anticipated to bolster growth in this area. As the Asia-Pacific region continues to lead global construction activity, the demand for innovative and efficient rental crane solutions is expected to remain strong.
The report profiles key companies, including Liebherr AG (Germany), Bigge Crane and Rigging Co. (US), ACE Construction Equipment Ltd. (India), Leavitt Cranes (Canada), Wasel GmbH (Germany), Falcon Tower Crane Services Ltd. (UK), Rapicon Inc. (Canada), NFT Group (UAE), Skycrane (Canada), and Maxim Crane Works (US).
Liebherr AG (Switzerland) offers and rents earth-moving technologies, tower & mobile cranes, port equipment, mining equipment, material handling equipment, components, machine tools, maritime cranes, and other products. The company’s tower crane portfolio includes flat-top, luffing jib, and hammerhead cranes used in high-rise buildings, infrastructure, and industrial construction. Liebherr provides rental services for its tower cranes across Europe, Asia Pacific, and North America. These services typically include transport logistics, crane erection and dismantling, and technical support.
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Bigge Crane and Rigging Co. (US) is a leading company specializing in crane rentals, crane sales, heavy lift rigging, and specialized heavy transportation. Bigge has played a pivotal role in major US infrastructure and construction projects for over a century. Bigge Crane offers four major types of tower cranes for rental purposes: flat-top, luffing jib, hammerhead, and self-erecting cranes. Bigge operates over 20 service locations across the US. While Bigge does not operate physical rental branches outside the US, it has a strong global presence through crane sales, rental services, and equipment supply. Bigge has supplied cranes and developed partnerships in over 40 countries, including Canada, Mexico, South Africa, Argentina, and Nigeria.
NFT Group (UAE) supplies a specialized range of tower cranes, passenger hoists, and construction equipment and tools. NFT is also the sole dealer of Potain Tower cranes, GJJ/Orbit, and Pega hoists in the Middle East. The company has a widespread presence in 32 countries with operations in the Middle East & Africa, Europe, and Asia Pacific. NFT has a fleet of over 2,000 new and used tower cranes and over 500 hoists, making it one of the world’s largest tower crane suppliers and rental companies in terms of tower crane capacity. The cranes are supplied from NFT’s yards in the UAE, Saudi Arabia, Kuwait, and Lebanon.
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