Tower Crane Rental Market worth $22.1 billion by 2030, at 5.2%, says MarketsandMarkets™

Delray Beach, FL, July 15, 2025 (GLOBE NEWSWIRE) -- In terms of value, the Tower Crane Rental Market is expected to reach USD 22.1 billion by 2030 from USD 16.3 billion in 2024, at a CAGR of 5.2%, as per the recent study by MarketsandMarkets™. The increase in construction activity across residential, commercial, and infrastructure sectors is propelling the growth of the tower crane leasing industry at an accelerated pace. Leasing cranes reduces capital expenditures and mitigates maintenance costs, making it a financially advantageous option for firms. The incorporation of advanced technological systems—including remote controls, anti-collision mechanisms, and automated operations—substantially enhances operational safety and efficiency, often positioning leasing as the superior choice.

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List of Key Players in Tower Crane Rental Market:

Liebherr AG (Germany),
Bigge Crane and Rigging Co. (US),
ACE Construction Equipment Ltd. (India),
Leavitt Cranes (Canada),
Wasel GmbH (Germany),
Falcon Tower Crane Services Ltd. (UK),
Rapicon Inc. (Canada),
NFT Group (UAE),
Skycrane (Canada),
Maxim Crane Works (US).

Drivers, Opportunities and Challenges in Tower Crane Rental Market:

Drivers: Growth of construction and infrastructure development projects
Restraint: Preference for old cranes by tower crane rental companies
Opportunity: Increasing requirements for installation and maintenance of wind turbines
Challenge: Balancing recyclability with barrier performance in food applications

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Key Findings of the Study:

Low to medium (20–100 tons) to be second fastest-growing segment during forecast period.
Infrastructure to be second fastest-growing segment of tower crane rental market during forecast period.
Asia Pacific accounted for largest share of tower crane rental market in 2024.

The burgeoning demand for high-performance, cost-effective, and versatile lifting solutions across the construction, infrastructure, energy, and industrial sectors is driving the expansion of the tower crane rental market. Given their superior lifting capacity, reach, and stability, tower cranes play a pivotal role in nearly every high-rise and large-scale construction endeavour. Their rapid assembly, disassembly, and transportability enhance operational flexibility and efficiency, significantly reducing project timelines. Moreover, rental models present numerous advantages over outright equipment purchases; the costs associated with rental equipment are typically substantially lower than the comprehensive capital investment and ongoing maintenance required for owned machinery. Additionally, the need for compliance with evolving safety regulations, advancements in crane technology, and a growing emphasis on sustainable and efficient construction practices collectively enhance the appeal of rental solutions across various end-use industries.

LiDAR technology is transforming the tower crane rental market by providing advanced real-time 3D high-resolution mapping capabilities essential for next-generation anti-collision systems. Unlike conventional sensors, LiDAR delivers superior obstacle detection and accurate distance measurements across varied weather and lighting conditions, effectively eliminating blind spots. This technology enhances situational awareness by facilitating distance measurements without any visual obstructions. LiDAR's swift deployment capabilities effectively address the complexities of modern construction sites. Its 360-degree functionality and exceptional durability make it particularly suitable for intricate multi-crane operations. When integrated with GPS, Inertial Measurement Units (IMUs), and automated controls, LiDAR not only improves safety and operational efficiency but also paves the way for fully autonomous crane operations in the future. Additional advanced features encompass exclusion zones with lightning strike protection data, wind resistance analytics, AI-driven collision predictions, cloud-based monitoring solutions, and augmented reality visualizations. These innovations significantly enhance operator situational awareness while creating safer work zones and pedestrian barriers. These advancements chart a course toward a safer, more automated, and sustainable future for the tower crane rental sector and the broader construction industry.

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Asia Pacific region dominated the tower crane rental market, propelled by rapid urbanization, robust construction activity, and significant infrastructure investments in key countries such as China, India, Japan, and South Korea. There is a notable increase in demand for high-rise construction, smart city developments, and advanced transportation networks, particularly in emerging markets like India and Indonesia. Rental operations are facilitating cost savings, while the integration of advanced technologies—such as LiDAR-based anti-collision systems, remote control operations, and telematics—has enhanced both safety and efficiency in crane operations. Government-led urban development initiatives and industrial expansion have driven substantial investments and increased acceptance of rental solutions, positioning India as the country experiencing the steepest growth in this sector.

The US tower crane rental market is experiencing significant growth, driven by heightened investments in urban infrastructure, high-rise residential developments, and commercial construction projects. Major metropolitan areas, including New York, Los Angeles, and Chicago, are key contributors to the rising demand for various vertical construction initiatives. The trend towards renting tower cranes among construction firms underscores the critical need for operational flexibility, allowing for reduced capital expenditures while ensuring access to the latest high-capacity equipment without the burdens associated with ownership and maintenance. Additionally, evolving safety standards and the integration of advanced technologies, such as GPS, LiDAR, and automated systems, are further propelling the expansion of the rental market. Consequently, these dynamics have cultivated a prevailing perception of increased crane rental activity throughout the United States.

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