Crane Rental Market is Forecasted to Reach a Value of US $64.13 Billion by 2029

The Business Research Company

The Business Research Company's Crane Rental Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, August 19, 2025 /EINPresswire.com/ -- What Is The Expected Cagr For The Crane Rental Market Through 2025?

The sector for crane leasing has seen considerable expansion in the past few years. It is projected to increase from a value of $47.51 billion in 2024 to $50.54 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. The historic development can be credited to increased construction activities in budding economies, escalating need for cranes in the mining and energy sectors, growing government expenditure on infrastructure projects, and a rising preference for equipment leasing over possession. Additionally, the rise in urbanization and the development of megacities has also contributed to this growth.

In the coming years, the crane rental market size is poised to flourish robustly, reaching $64.13 billion in 2029 with a compound annual growth rate (CAGR) of 6.1%. The market expansion during this period is likely due to various factors such as the escalating requirement for renewable energy ventures, adoption of modular construction techniques, multiplying investments in transportation infrastructure, the trending favor for high-capacity all-terrain cranes, and the rise in digitalization and remote observation of cranes. Key market trends for the forecasted period include advancements in autonomous crane features, the melding of safety analytics software, inventions in crane designs aimed at urban projects, revolutions in load optimization algorithms, and crane integration with the theory of building information modeling.

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What Are The Factors Driving The Crane Rental Market?

The expansion of the crane rental market is anticipated to be propelled by the rise in construction activities. The term 'construction activities' refers to the various procedures involved in the creation, alteration, or repair of structures such as infrastructure, buildings, roads, and bridges. The increase in construction activities is largely attributed to the growth in urbanization, which leads to a higher requirement for residential, commercial, and infrastructure development. Crane rentals facilitate construction tasks by offering cost-effective and flexible access to crucial heavy lifting equipment required for moving materials, constructing structures, and adhering to project schedules. For example, the Australian Bureau of Statistics, an Australian government agency, reported in July 2023 that the number of homes under construction rose to 240,813 during the March 2023 quarter, an increase from 240,065 in 2022. Of these, the number of newly built houses increased to 103,778 in 2023 from 101,240 the previous year. As a result, the increasing construction activities are fueling the expansion of the crane rental market.

Which Players Dominate The Crane Rental Industry Landscape?

Major players in the Crane Rental Global Market Report 2025 include:

• Liebherr Group
• Mammoet Holding B.V.
• Terex Corporation
• Konecranes PLC
• TNT Crane & Rigging Inc.
• Sarens NV/SA
• Maxim Crane Works LP
• BMS Group
• Bigge Crane and Rigging Co.
• Shethia Erectors and Material Handlers Ltd.

What Are The Future Trends Of The Crane Rental Market?

Key players in the crane rental market are concentrating on the creation of innovative lifting tools, such as high-capacity all-terrain cranes, to satisfy the increasing need for large and intricate construction endeavors. High-capacity all-terrain cranes are robust mobile cranes engineered to hoist substantial weights across diverse terrains, marrying the agility of truck-mounted cranes with the power of rough-terrain cranes. For example, in May 2023, AP Rentals Ltd., a company based in China that provides equipment rental and services, launched a 200-ton all-terrain crane designed to handle challenging lifting tasks in building construction, bridge work, and long-reach setups, even on difficult job sites. This crane boasts of an outstanding lift capacity and a lengthened boom, making it capable to handle an assortment of weighty lifting tasks. Its adaptability and efficacious operation make it ideal for expansive construction sites with intricate lifting needs.

Global Crane Rental Market Segmentation By Type, Application, And Region

The crane rental market covered in this report is segmented –

1) By Type: Mobile Cranes, Fixed Cranes
2) By Weight Lifting Capacity: Low, Low-Medium, Heavy, Extreme Heavy
3) By End Use: Buildings And Constructions, Marine And Offshore, Mining And Excavation, Oil And Gas, Transportation, Other End Users

Subsegments:
1) By Mobile Cranes: Truck-Mounted Cranes, Rough Terrain Cranes, All-Terrain Cranes, Crawler Cranes, Floating Cranes
2) By Fixed Cranes: Tower Cranes, Level Luffing Cranes, Hammerhead Cranes, Gantry Cranes, Bridge Or Overhead Cranes

View the full crane rental market report:
https://www.thebusinessresearchcompany.com/report/crane-rental-global-market-report

Which Region Holds The Largest Market Share In The Crane Rental Market?

In the Crane Rental Global Market Report 2025, it was projected that North America would be the leading region for crane rental in 2024. The report provided coverage for various global regions including, but not limited to, Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

Browse Through More Reports Similar to the Global Crane Rental Market 2025, By The Business Research Company

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