Tower Crane Rental Market: Introduction
Tower cranes are the modern balanced cranes which consist of various basic parts. The large lifting capacity and height of tower cranes allow them to be used in the construction of tall structures.
A modern tower crane consists of three main sections, which include the base, the tower mast and the slewing unit. The most important characteristics of tower cranes are safety, reliability and user-friendliness. Tower crane rental is available in different capacities depending on the needs of the end users. There are also different types of rental tower cranes available in the market, such as hammerhead cranes, self-erecting cranes, and others.
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Tower crane rental market: dynamic
With increasing infrastructure investment in Asia-Pacific, Middle East & Africa and North America, the demand for tower crane rental is also expected to increase in the near future. Various governments are focusing on strengthening energy infrastructure.
For example, in 2015, the Chinese government emphasized the development of a large number of infrastructure projects in order to boost the country’s GDP. Such kind of government initiatives are driving the demand for tower crane rental and hence driving the global tower crane rental market.
The tower crane rental service providers 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 crane market rental of tower cranes.
Rental service providers are focusing on building partnerships with tower crane manufacturers to meet the growing demand from the construction industry. Additionally, tower crane service providers and distributors are investing in new facilities to accommodate their rental fleets. Here are some of the key trends identified in the global tower crane rental market.
Tower Crane Rental Market: Segmentation
Based on product type
Hammer head cranes
Flat top cranes
Luffing jib cranes
Based on end user
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Tower Crane Rental Market: Regional Outlook
Considering the regions, Asia-Pacific is expected to dominate 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 growing urbanization and population, along with development of IT sector is propelling the demand for crane rental market to turn over the next decade.
North America is also expected to show rapid growth due to increased investment in the residential and non-residential sectors. European countries such as Germany, France, and Poland are expected to drive the demand in the tower crane rental market.
In the Middle East and Africa, countries like Saudi Arabia and Turkey are constantly focusing on promoting environmentally friendly building construction. Rising investment in hospitality, transportation, energy, along with easy availability of construction equipment is expected to drive the growth of the tower crane rental market.
Tower Crane Rental Market: Key Players
Some of the examples of market players identified along the value chain of the Global Tower Crane Rental Market include:
Bigge Crane and Rigging Co.
Action Construction Equipment Ltd.
Titan Cranes and Rigs
Zoomlion ElectroMech India Pvt. ltd.
WASEL GmbH, ALL tower cranes, LL
Crane and rigging united
FALCON TOWER CRANE SERVICES LTD
Maxim Crane Works, LP
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