Market trends for North America crane rental – to see a massive increase in global industry in the next few years Contains information on the state of growth, the competitive landscape and the development model in different parts of the world. The North American crane rental market is expected to grow at a CAGR of more than 4% over the forecast period. This study focuses on niche markets, potential risks, and detailed strategic strategy analysis across a variety of industries. Competitive advantage in the global nano-sensor industry
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The major construction projects are planned across North America. The projects include, among other things, the expansion of the port, the underwater tunnel that connects the most important North American countries, rail tunnels in which many types of cranes are used. Some of the major construction works in the country include the Vista Tower (Chicago), the LaGuardia Airport construction project in New York, the Sound Transit 3 (ST3) construction project in Washington, and many more.
– Growing infrastructure developments in the area create a tremendous demand for a crane for any construction project. As a result, many landlords in the area are constantly investing in adding new cranes to meet the broad customer demand looking for advanced and efficient cranes. This way, a construction company can access new and updated technology for their projects and save time instead of owning older cranes.
Important market trends
The upgrading of the fleet is driving the market
The increasing demand from the site owner for an inexpensive crane option has led landlords to add new and technologically advanced cranes to their fleet and to develop and plan new systems to offer the customer the best solution. For example,
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The US is expected to lead the North American crane rental market
In terms of the country, the United States is expected to hold the largest share during the forecast period as the country has the world’s largest number of skyscrapers after China. The country always has a demand for cranes that can complete the toughest urban infrastructure development projects in a given amount of time. Various rental companies are providing cranes for the construction of the country’s upcoming skyscraper. For example, in 2019 the Potain MD 485 tower crane rising to 1,000 feet was provided by Central Contractors Service, Inc., a member of the ALL Crane family, to build the NEMA Chicago Apartment Tower, a 76-story skyscraper in Chicago .
The North American crane rental market is moderately fragmented, with multiple players making up significant market shares. Some of the leading companies in the North American crane rental market are United Rentals, Inc., Maxim Crane Works, LP Lampson International LLC. And Caterpillar Inc. companies are adding many new cranes to their existing fleet in order to expand their portfolio and expand their presence in various application segments. While some players are partnering with crane manufacturers to add the latest crane to their fleet. For example,
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