The Asia-Pacific crane rental market size is expected to grow steadily in the forecast period 2020-2026 thanks to the increased construction activity in the region. According to statistics, the regional market is expected to reach a valuation of USD 5 billion by the end of the aforementioned forecast period.
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The construction industry in the APAC region has seen a positive growth trend in recent years. Countries like India, China and others are seeing an incredible increase in activities such as building commercial space, train stations, smart cities and airports. Some of the ongoing projects in India are the Delhi-Mumbai Industrial Corridor, Navi Mumbai International Airport and the Chenab River Railway Bridge.
In order to perform these activities efficiently, various construction machines including cranes are required. For many companies, however, it is quite expensive to buy because a large part of their capital is blocked in one place. This is where crane rental services benefit tremendously by making it easier and cheaper for businesses to rent cranes instead of spending millions of dollars buying a crane.
Industry associations and renowned companies are making their mark on the APAC crane rental market. For example, the Global Rental Alliance added the Japan Construction Rental Association to its membership list in March 2017. Companies involved in crane rental services even offer their end users training on how to use and maintain equipment. All of these factors will have a positive impact on crane rental in the region.
The COVID-19 pandemic had negatively impacted several industries in the Asia-Pacific region, including crane rental. The main reason for this is that governments across the region had imposed nationwide lockdowns and strict restrictions on the movement of people and goods in an attempt to contain the spread of the virus. All of this caused various construction activities, such as government sponsored projects, to come to a complete standstill and eventually the demand for cranes to decline. As the industry gradually moves forward after the pandemic, the crane rental market will pick up pace through 2026.
Asia Pacific governments are implementing programs and strategies to provide rural and remote areas with electricity, water, and other basic facilities. This has also resulted in increased demand for crane rental services. The reason for this is that water and electrical systems need constant maintenance to keep them working efficiently. This is where crane rental services can be used to work efficiently and reduce costs.
Of the various types of cranes that are used for different purposes, the crawler crane segment will experience steady growth in the forecast period. This type of crane is widely used for various activities such as demolition, debris removal, bridge building and cargo loading. It is very efficient to operate on site and several crane rental companies offer services such as repair, maintenance and proper installation of the parts. These companies even offer technical assistance to help keep these cranes working properly.
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Some of the major crane rental companies in Asia Pacific include Al Jaber Heavy Lift, Deep South Crane and Rigging, AT Hong Holdings Ltd., Mediaco Group, Lampson International LLC, Mammoet, and many others.
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Table of contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 List of data sources
Chapter 2 Market Snapshot
2.1 Snapshot of the crane rental market
Chapter 3 Crane Rental Trends
3.1 Industry coverage
3.2 Industry size, 2016-2026
3.3 Effects of the COVID-19 pandemic
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory Standards and Guidelines
3.7 Driver and restraint systems
3.7.1 Market drivers
3.7.2 Market Restrictions
3.8 Industry analysis – Porter’s
3.9 Competitive benchmarking, 2019
3.9.1 Strategy dashboard
3.10 Pest analysis
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