The crane rental market is estimated to grow from US$53.3bn in 2023 to US$83.5bn in 2033 at a rate of 4.6% creating an absolute opportunity of US$30.3bn
Cranes are increasingly used for complicated operations in industries such as material handling, ship loading, manufacturing, and construction. Rental services allow access to the most recent crane models, removing the need for large upfront investments. The industry is also fuelled by public and private infrastructure expenditures in areas such as telecommunications, manufacturing, and oil and gas.
Furthermore, the demand for specialised cranes in renewable energy projects such as wind farms and solar systems contributes to the industry's growth. These elements, taken together, drive the global crane rental market, thus, catering to a wide range of industry requirements.
“Crane Rental is a versatile and comprehensive solution revolutionising the construction Industry. Increased public and private investment in new construction and development projects to improve infrastructure is expected to fuel the global crane rental industry. Demand for enhanced structures is also driving market expansion in a variety of industrial verticals such as telecommunications, manufacturing, oil and gas, and others. Furthermore, due to their increased productivity and efficacy when compared to traditional methods, these devices are becoming increasingly popular across a wide range of industries,” says a Fact.MR analyst.