The crane rental market will see significant growth in the near future due to the changing preference of contractors for rental equipment due to the high investments required to purchase new cranes. Crane rental companies also provide value-added services such as repair and technical maintenance, and equipment collection and return, making equipment rental more convenient for contractors and increasing market growth.

Rapid urbanization in Europe, North America and the Asia-Pacific region has resulted in a booming manufacturing and construction sector in these regions. The increasing influence of market participants and industry associations should also contribute to product demand in the coming years. Today, rental companies are largely investing in technologically advanced and environmentally friendly cranes to expand their respective fleet sizes and effectively meet the increasing demands of their customers. This would likely shape the global business landscape for years to come.

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Below are some key trends that would have a significant impact on the expansion of the crane rental market through 2026:

Expansion of the telecommunications sector across North America

The North American crane rental market is likely to see tremendous growth over the period under review. A major driver of market growth in the region is the continuous expansion of telecommunications facilities. Countries like Canada and the US are increasingly investing in building strong telecommunications infrastructure, which is creating significant demand for cranes and crane rental services.

In January 2020, for example, the U.S. government reportedly announced its plan to invest nearly $ 6 billion in developing 5G and other wireless technologies over the next five years, offering the industry a lucrative growth opportunity. In addition, the increasing trend towards the use of technologically advanced cranes for installing the network infrastructure is expected to drive regional market growth in the future.

Favorable growing conditions in the USA

The US crane rental market is expected to grow strongly in the near future. This expected growth is due to the lower cost of ownership and the greater flexibility that crane rental offers, making it cheaper than owning a crane. Strict government regulations to introduce safety guidelines in cranes and improve the working environment would continue to contribute to market growth. Large companies like Haulotte are also focusing on expanding their presence in the US to continue to grow the crane rental market in the US

Rapid industrialization across Canada

The Canadian crane rental market is likely to see tremendous growth in the coming years due to rapid industrialization. The acceptance of cranes is expected to increase due to the wide range of applications for cranes, mainly in the oil and gas industry for smooth and safe operation. The construction and mining sectors in Canada are expected to stabilize over the estimated period, which would further stimulate demand for cranes and other construction equipment in the region. In addition, numerous efforts by the companies to expand their crane rental fleet will further complement the regional market growth.

Availability of inexpensive fixed crane rental plans in Europe

The crane rental industry in Europe is constantly expanding due to the availability of a wide range of technologically advanced cranes at affordable prices. The possibility of rental payment options, such as flexible monthly down payments for annual and monthly rents, increases competition in the tower crane market across Europe. In addition, the advantages of tower cranes, such as the ability to work at great heights and in confined spaces, are increasing the demand for smart city and urban development projects in the region.

Increasing acceptance of mobile rental cranes across Europe

With regard to the product, it is expected that mobile rental crane acceptance will increase across Europe in the coming years. This expected growth is due to the continuous expansion of the infrastructure and the considerable expansion of the region’s cement plants. The transportation and construction sectors are some of the key segments that are driving the increasing use of mobile cranes in numerous ongoing public and private infrastructure development projects.

Mobile cranes are used to unload and lift materials and allow those materials, as well as workers, to reach difficult and hard-to-reach places. The increasing demand for cranes in the infrastructure development projects, as well as factors such as warehousing and rapid industrialization, will stimulate the demand for rental mobile cranes in the region.

Infrastructure development initiatives across APAC

Supporting initiatives by regional governments in the Asia-Pacific region to provide power, electricity and other utilities to rural and remote locations are creating new business growth opportunities for the crane rental market across APAC. Continuous maintenance and servicing of water, telecommunications and electrical systems requires cranes that can reach inaccessible and difficult places, creating an immense demand for crane rental services. The regional government has also invested heavily in the construction of transport networks and utilities, increasing the demand for cranes.

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Growing acceptance of crawler cranes in the Asia-Pacific region

Regarding the product, the crawler crane segment is expected to see high demand in the APAC market in the coming period. This expected growth is attributed to the ability of crawler cranes to operate competently in off-road conditions. Crawler cranes are typically used to remove debris, load cargo, build bridges, and demolish.

Additionally, in recent years the demand for crawler rental cranes has increased thanks to the efficient rental, installation and maintenance services provided by rental companies who also provide mechanics and technical assistance with installing spare parts.

HSS Hire Service Group Plc, All Erection Crane Rental, Sanghvi Movers Limited, Deep South Crane and Rigging, Weldex (International) Offshore Ltd., Uchimiya Transportation and Engineering Co., Ltd., Al Jaber Heavy Lift, Prangl Gesellschaft MBH, Tiong Woon Corporation Holding Ltd., Mammoet Holdings, Liebherr-Mietpartner Gmbh, Sarilar Group, Sarens NV, Buckner Heavylift Cranes LLC, Lampson International LLC, Maxim Crane Works, AT Hong Holdings Ltd., Starlog Enterprises Limited and Mediaco Group are some of the most important ones Players in the crane rental market.

Table of contents (ToC) of the report:

Chapter 1. Methodology and scope

1.1. methodology

1.1.1. First data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Scope, definition and forecast parameters

1.1.4.1. Definitions

1.1.4.2. Assumptions, methodology and forecast parameters

1.2. Data sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2. Summary of the Crane Rentals Market

2.1. 360 ° overview of the crane rental industry, 2015-2026

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

2.1.4. Application trends

Chapter 3. Insights into the Crane Rentals Market

3.1. Industry segmentation

3.2. Impact of COVID-19 on the Crane Hire Industry Landscape

3.2.1. Global outlook

3.2.2. Regional impact

3.2.2.1. North America

3.2.2.2. Europe

3.2.2.3. Asia Pacific

3.2.2.4. Latin America

3.2.2.5. MY

3.2.3. Industry value chain

3.2.3.1. Rental

3.2.3.2. Research & Development

3.2.3.3. Manufacturing

3.2.3.4. marketing

3.2.3.5. Deliver

3.2.4. Competitive landscape

3.2.4.1. strategy

3.2.4.2. Distribution network

3.2.4.3. Business growth

3.3. Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. manufacturer

3.3.3. Rental providers

3.3.4. End-use landscape

3.3.5. Sales channel analysis

3.3.6. Supplier matrix

3.4. Technology & innovation landscape

3.5. Regulatory landscape

3.5.1. North America

3.5.2. Europe

3.5.3. Asia Pacific

3.5.4. Latin America

3.5.5. MY

3.6. Influences in the industry

3.6.1. Growth accelerator

3.6.1.1. High acquisition costs in connection with new devices

3.6.1.2. Fast growing manufacturing sector in North America and Europe

3.6.1.3. Increasing investment in infrastructure development in APAC

3.6.1.4. High demand for crane rentals in the oil and gas sector in MEA

3.6.1.5. Increasing construction and mining activities in Latin America

3.6.2. Pitfalls and challenges in the industry

3.6.2.1. Lack of skilled and skilled operators

3.6.2.2. High maintenance and repair costs

3.7. Growth potential analysis

3.8. Porter’s analysis

3.8.1. Supplier performance

3.8.2. Buyer power

3.8.3. Threat from new entrants

3.8.4. Threat of replacement

3.8.5. Internal rivalry

3.9. PESTEL analysis

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