Industria
Crane Rental Market worth $68.04 billion by 2030 - Exclusive Report by MarketsandMarkets™
The mobile crane type is the most rapidly expanding in the crane rental market due to its versatility and ease of transportation. They can perform diverse lifting tasks in construction, industrial, and maintenance work. They are also flexible and efficient, and hence, preferred by contractors and even rental companies.
The heavy weightlifting capacity segment held the second-largest share of the crane rental market in 2024 as the size of construction and energy projects increased. Cranes are needed to move heavy materials in oil and gas, wind energy, and mining. To satisfy these construction projects that demand special cranes, rental companies are increasing their fleet of large-capacity cranes.
The infrastructure segment is expected to register the second-highest CAGR in the crane rental market during the forecast period. Cranes are essential for the construction of bridges, highways, ports, and power plants. Governments are significantly investing in infrastructure development to support economic growth. This continuous demand for large-scale projects results in a sustained high need for heavy-lifting equipment.
In 2024, the Middle East & Africa accounted for the second-largest share of the crane rental market, driven by substantial expansions in infrastructure, oil and gas, and renewable energy. This demand is largely fueled by countries like Saudi Arabia and the UAE, which are undergoing significant urbanization as part of their Vision 2030 initiatives. Additionally, the growth in road and airport construction, along with the development of industrial areas, is further boosting crane rentals in the region.
The crane rental market comprises major players, such as Liebherr ( Germany ), United Rentals Inc. (US), PALFINGER AG ( Austria ), Sarens NV ( Belgium ), Mammoet ( Netherlands ), and Manitowoc Company, Inc. (US). These key players adopt major strategies, such as product launches, partnerships, acquisitions, and expansions, to enhance their positions in the crane rental market.
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