Market Insights
The cranes rental market serves as a pivotal solution for industries requiring efficient and specialized heavy lifting equipment without the commitment of ownership. This market offers a wide array of crane types and capacities available on a rental basis, catering to diverse sectors such as construction, manufacturing, energy, and more. With the advantages of flexibility, cost-efficiency, and quick deployment, crane rentals provide an essential support system for projects demanding precision and scalability.
The cranes rental market is in recovery mode after COVID-19 disruptions. As construction activities resume and economic activities regain momentum, the demand for crane rentals is on the rise. Many countries are investing in infrastructure projects as part of economic recovery plans, further driving the need for heavy lifting equipment.
Several key driving factors are propelling the cranes rental market. These include the preference for cranes on a rental basis rather than purchasing them and increasing investments in various end-use industries such as building & construction, transportation, and oil & gas. Overall, the market is expected to grow at a CAGR of 5.1% during the forecast period.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Product-Type Analysis
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Mobile and Fixed
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The Mobile crane are anticipated to lead the cranes rental market in the years to come.
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Weight Lifting Capacity-Type Analysis
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Low, Low-Medium, Heavy, and Extreme Heavy
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Low weight lifting capacity is expected to grab the largest share of the market during the forecast period.
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End-Use Industry-Type Analysis
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Building & Construction, Marine & Offshore, Mining & Excavation, Oil & Gas, Transportation, and Others
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Building & Construction to dominate the cranes rental market during the forecast period.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Asia-Pacific is expected to remain the largest market over the next five years.
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Product Type
The cranes rental market is segmented into mobile and fixed. Mobile cranes held the largest market share in the cranes rental market due to their broad acceptance in various end-use sectors like building & construction and transportation. The multitude of benefits they offer, such as mobility and quick setup, is expected to drive the expansion of the mobile crane segment within the crane rental market.
Weight Lifting Capacity-Type
Based on the weight lifting, the market is segmented into low, low-medium, heavy, and extreme heavy. The low weight lifting capacity segment is projected to be the largest and fastest-growing segment during the forecast period. This growth can be attributed to the global increase in miscellaneous activities for construction, repairs, and maintenance.
Regional Analysis
Asia-Pacific held the biggest portion of the worldwide market for cranes rental. The demand for rental cranes is rising in countries like China, Japan, India, Australia, and others. The growth of the Asia Pacific crane rental market is driven by the growth of construction and infrastructure projects, urbanization, industrial expansion, and a growing population.
The cranes rental market is segmented into the following categories:
By Product Type
- Mobile (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fixed (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Weight Lifting Capacity Type
- Low (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Low-Medium (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Heavy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Extreme Heavy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By End-Use Industry Type
- Building & Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Marine & Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Mining & Excavation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Key Players
The following are the key players in the cranes rental market:
- Sarens NV
- Mammoet
- ALL Erection & Crane Rental Corp.
- Lampson International, LLC
- Action Construction Equipment Ltd.
- Maxim Crane Works, L.P.
- ALE International SAS
- Sanghvi Movers Limited
- Deep South Crane and Rigging
- Weldex International Offshore Ltd.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s cranes rental market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for existing and new players
- Key success factors
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
