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Tower Crane Rental Market Segmented By product type such as Hammer Head Cranes, Self-erecting Cranes, Flat Top Cranes and Luffing Jib Cranes
Tower cranes are the modern balanced cranes that consist of various basic parts. The high lifting capacity and height of tower cranes enable them to be used in construction of tall structures. A modern tower crane consists of three main sections, which include base, the tower mast and the slewing unit.
The most important features of the tower cranes are safety, reliability and user-friendliness. Tower crane rentals are available in different capacities depending on the requirement of the end-users, also there are different types of tower crane rentals available in the market such as hammer head cranes, self-erecting cranes and others.
Tower crane rental is gaining traction in the market, because many small and medium-scale developers cannot afford to buy the tower cranes. On the other hand, big players utilize it for various projects over a longer time duration in order to save the overall project cost, hence they are more likely to buy the tower cranes instead of renting it.
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Get a Customized VersionWith the rise in infrastructural investments in Asia Pacific, Middle East & Africa and North America, the demand for the tower crane rental is also expected to surge in the near future. Various governments are focussing on strengthening energy infrastructure.
As an example, in 2015, the Chinese government laid emphasis on development of large number of infrastructure projects in order to boost the GDP of the country. This type of government initiatives are boosting the demand for tower crane rentals and thus in turn driving the global tower crane rental market.
Rental service providers of tower cranes are facing various challenges in the market such as the rented tower crane requires regular maintenance and thus cost is one of the major factors restraining the growth of the global tower crane rental market.
Rental service providers are focussing on making partnerships with the tower crane manufacturers in order to meet the demand for growing construction industry. Also, service providers and distributors of tower cranes are investing in the new facilities in order to house their rental fleets. These are some of the key trends identified in the global tower crane rental market.
Considering regions, Asia-Pacific is expected to dominate the other regions in the global tower crane rental market over the forecast period. Growing construction industry in developing countries such as India and China supported by rising urbanization and population, along with the development of IT sector propel the demand for tower crane rental market over the next decade.
North America is also expected to exhibit rapid growth owing to the rising investments in the residential as well as non-residential sectors. European countries such as Germany, France and Poland are expected to boost the demand for tower crane rental market.
In Middle East & Africa, countries such as Saudi Arabia and Turkey are focussing continuously on promoting the eco-friendly constructions of buildings. Rising investments in hospitality, transportation, energy, together with easy availability of construction equipment are expected to boost the tower crane rental market growth.
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Some of the examples of the market participants identified across the value chain of the global Tower Crane Rental market include Bigge Crane and Rigging Co., Action Construction Equipment Ltd., Titan Cranes & Rigging, Leavitt Cranes, Zoomlion ElectroMech India Pvt. Ltd., WASEL GmbH, ALL Tower Crane, LLC, United Crane and Rigging, FALCON TOWER CRANE SERVCES LTD, Rapicon Inc., Skycrane, NFT Group and Maxim Crane Works, L.P., among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
