Tower Crane Rental Market: Anticipated CAGR of 5.8% Envisages a Market Valuation of US$ 12.8 Billion by 2033

The Tower Crane Rental Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Tower Crane Rental market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Tower Crane Rental. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario,

The tower crane rental market is currently experiencing notable expansion, driven by the increasing adoption of tower crane rentals across various industries, particularly in construction and infrastructure. This growth is spurred by a rise in projects aimed at strengthening and modernizing existing infrastructure. Tower crane rentals are favored for their cost-effectiveness, adaptability, and efficiency in managing complex lifting tasks, making them indispensable as construction projects diversify and expand in scale and complexity.

Projections suggest that the global tower crane rental market is poised to reach a significant valuation of around US$ 7.3 billion by 2023, driven by the rising demand across a wide range of industries. Looking ahead, the market is expected to maintain its upward trajectory, reaching an estimated value of US$ 12.8 billion by 2033. This growth trend is projected to demonstrate a Compound Annual Growth Rate (CAGR) of 5.8% from 2023 to 2033.

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In the foreseeable future, a considerable upsurge in market growth is anticipated, driven by several pivotal factors. Among these factors, the increasing adoption of tower crane rentals across diverse end-user segments stands out prominently. This trend is further amplified by a surge in infrastructure projects aimed at modernization and expansion, serving as a significant catalyst for market expansion.

An noteworthy development is the expanding utilization of tower crane rentals within the mining industry, showcasing their versatility in handling and unloading heavy materials. This diversification of usage within the mining sector is expected to play a crucial role in augmenting overall sales and fostering market growth.

Recent years have witnessed a substantial surge in urbanization and rapid migration from rural to urban areas, significantly contributing to the escalation in construction activities. This upward trajectory in construction is further bolstered by an increasing demand for rental services in the realm of tower crane technology, driven by notable technological advancements.

Modern tower cranes are now equipped with a range of advanced attributes, including enhanced lifting capacities, robust safety systems, precise control mechanisms, and energy-efficient operations. These cutting-edge features have collectively heightened the demand for tower crane rentals, with projections indicating a sustained upward trajectory during the forecast period.

The North American market emerges as a prominent player in the global tower crane rental industry, attributed to robust construction activities in the region. The proliferation of development projects in urban and metropolitan areas has generated compelling demand for tower crane rentals, fostering market expansion.

Simultaneously, the Asia Pacific region is experiencing rapid growth in construction and infrastructure development, resulting in a strong demand for tower crane rentals. The substantial increase in construction activities observed in countries such as China, India, and Japan has significantly fueled the need for tower crane rental services, solidifying the Asia Pacific region’s pivotal role in this market.

Key Takeaways from the Market Study

  • From 2018 to 2022, the tower crane rental market demand expanded at a CAGR of 5.2%
  • Based on design type, the top-slewing segment accounts for a CAGR of 5.7%
  • By application, the construction segment is expected to expand at a CAGR of 5.6% during the forecast period
  • North America to emerge as a promising tower crane rental market, capturing a CAGR of 5.7%
  • The tower crane rental industry in the United Kingdom is predicted to reach US$ 8.7billion by 2033
  • Asia Pacific to be an opportunistic tower crane rental market, expected to capture a CAGR of 5.5% during the forecast period.
  • South Korea’s tower crane rental industry is predicted to achieve a market revenue of US$ 7.4billion by 2033

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Competitive Landscape

The global tower crane rental market is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements in order to capture market share.

Prominent players in the tower crane rental market are:

  • Konecranes
  • Liebherr
  • Mammoet
  • Maxim Crane Works, L.P.
  • Morrow Equipment Company
  • Morwest Crane & Services
  • Bigge Crane and Rigging Co
  • Stafford Crane Group
  • Leavitt Cranes
  • Value (US$ Million)ed 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


  • Mammoet’s tower crane rental division provides a wide range of tower crane models with varying lifting capacities and configurations to meet diverse project requirements. The company ensures that its rental fleet consists of modern and well-maintained tower cranes equipped with the latest safety features and technological advancements.
  • Wolffkran offers a comprehensive range of tower crane models, including luffing jib cranes, saddle jib cranes, and flat-top cranes. These cranes are known for their high-quality construction, advanced technologies, and efficient performance. Wolffkran’s tower cranes are designed to meet the demanding requirements of construction projects, ranging from small-scale developments to large and complex structures.

Know More about What the Tower Crane Rental Market Report Covers

Future Market Insights offers an unbiased analysis of the global tower crane rental market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the tower crane rental market, the market is segmented based on lifting capacity, design type, product type, vendor type, and application across five major regions.

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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
  • Western Europe
  • Eastern Europe
  • South Asia and Pacific
  • East Asia

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Us

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.


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