October 1, 2019 - 10:28 AM EDT
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Analysis on the World Market for Cranes Rental, 2019 to 2024 - A $53+ Billion Opportunity

Dublin, Oct. 01, 2019 (GLOBE NEWSWIRE) -- The "Cranes Rental Market by Type (Mobile, Fixed), Weight Lifting Capacity, End-Use Industry (Building & Construction, Marine & Offshore, Mining & Excavation, Oil & Gas, Transportation), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The cranes rental market was valued at USD 40,181 million in 2018 and is projected to reach USD 53,157 million by 2024, at a CAGR of 4.7% between 2019 and 2024.

  • This report covers the cranes rental market based on type, weight lifting capacity, end-use industry, and region.
  • The report aims at estimating the size and future growth potential of the cranes rental market across various segmentation types.
  • The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.

Growing investments from domestic and foreign investors in the country's economy are expected to drive the growth of the cranes rental market during the forecast period. Moreover, the preference of cranes on a rental basis rather than purchasing is expected to fuel the growth of the cranes rental market during the forecast period.

The leading cranes renting companies, globally, profiled in this report are Sarens NV (Belgium), Mammoet (Netherlands), ALL Erection & Crane Rental Corp. (US), Lampson International LLC (US), Action Construction Equipment Ltd. (India), Maxim Crane Works, L.P. (US), ALE (US), Sanghvi Movers Limited (India), and Deep South Crane and Rigging (US), among others.

Mobile Cranes is the dominant type which is likely to drive the market for cranes rental market during the forecast period

Based on type, the cranes rental market is segregated into mobile cranes and fixed cranes. Among these, mobile cranes accounted for the largest share in the cranes rental market. This is due to wide acceptability, mobility and ease of installation and setup, coupled with increasing demand from various end-use industries such as building & construction, transportation, and others are expected to drive the growth of cranes rental market.

Increasing miscellaneous activities is expected to drive the growth of low weight lifting capacity segment of cranes rental market

Based on weight lifting capacity, the cranes rental market is segregated into low (0-100 Tons), low- medium (101-300 Tons), heavy (301-700 Tons) and extreme heavy (700+ Tons). Among these, low weight lifting capacity segment accounted for the largest share due to an increase in miscellaneous activities for construction, repairs, and maintenance around the globe which is expected to drive the growth of cranes rental market. Moreover, heavy weight lifting capacity to account for the second-largest share in the cranes rental market.

Increasing investment from domestic & foreign investors majorly in the building & construction industry is expected to fuel the growth of cranes rental market

Based on end-use industry, the cranes rental market is segregated into building & construction, marine & offshore, mining & excavation, oil & gas, transportation, and others. Building & construction, which consists of commercial & residential buildings and infrastructure (bridges, tunnels) is the major consumer of cranes in the cranes rental market and is projected to increase in the near future. This growth is attributed to increasing infrastructure activities in various parts of the world, such as China, India, Ghana, and other countries. Moreover, increasing investment in public and private sectors from domestic and foreign investors around the globe is expected to drive the growth of cranes rental market during the forecast period.

Asia Pacific occupied for the majority of the market share in 2019 and is projected to witness the fastest growth during the forecast period

The Asia Pacific region is the largest and fastest-growing market for cranes rental. Due to increasing investments and rising population levels in the Asia Pacific region, the demand for cranes on a rental basis is expected to grow, and the trend is projected to increase in the near future. Middle East & Africa to account for the second-largest share in the cranes rental market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Cranes Rental Market
4.2 Cranes Rental Market, By Weight Lifting Capacity
4.3 Cranes Rental Market, By End-Use Industry
4.4 Cranes Rental Market, By Region
4.5 Asia Pacific Cranes Rental Market, By Type and Country

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Ongoing Transformation of Urban Areas Into Smart Cities
5.1.1.2 Covering of Insurance, Maintenance, and Breakdown Costs By Crane Renting Companies
5.1.2 Restraints
5.1.2.1 Preference for Old Cranes
5.1.2.2 Low-Rent Cranes Offered By Small and Medium-Sized Enterprises
5.1.3 Opportunities
5.1.3.1 Development of New Power Plants Using Renewable Sources of Energy
5.1.3.2 Emergence of the Us as A Potential Market for Rented Cranes
5.1.4 Challenges
5.1.4.1 Lack of Skilled Workforce
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Threat of New Entrants
5.2.3 Threat of Substitutes
5.2.4 Bargaining Power of Buyers
5.2.5 Intensity of Competitive Rivalry

6 Cranes Rental Market, By Type
6.1 Introduction
6.2 Mobile Cranes
6.3 Fixed Cranes

7 Cranes Rental Market, By Weight Lifting Capacity
7.1 Introduction
7.2 Low Weight Lifting Capacity
7.3 Low-Medium Weight Lifting Capacity
7.4 Heavy Weight Lifting Capacity
7.5 Extreme Heavy Weight Lifting Capacity

8 Cranes Rental Market, By End-Use Industry
8.1 Introduction
8.2 Building & Construction
8.3 Oil & Gas
8.4 Marine & Offshore
8.5 Mining & Excavation
8.6 Transportation
8.7 Others

9 Regional Analysis
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.1.1 China is Projected to Lead Cranes Rental Market in Asia Pacific During the Forecast Period
9.2.2 Japan
9.2.2.1 Increasing Construction Activities in Japan Post-2011 Earthquake are Expected to Drive Growth of Cranes Rental Market in Japan
9.2.3 India
9.2.3.1 Increasing Investments for Infrastructure Developments in the Country are Expected to Fuel Growth of Cranes Rental Market in India
9.2.4 Australia
9.2.4.1 Flourishing Mining & Excavation Industry is Expected to Drive Growth of Cranes Rental Market in Australia
9.2.5 Rest of Asia Pacific
9.2.5.1 Growing Industries and Increasing Investments are Expected to Fuel Growth of Cranes Rental Market in Rest of Asia Pacific
9.3 Middle East & Africa
9.3.1 UAE
9.3.1.1 Increasing Government Investments and Ongoing Construction Projects are Expected to Drive Growth of Cranes Rental Market in Uae
9.3.2 Iran
9.3.2.1 Growing Government Investments for the Development of Greenfield Projects are Expected to Drive the Demand for Rented Cranes in Iran
9.3.3 Saudi Arabia
9.3.3.1 Flourishing Oil & Gas Industry is Expected to Contribute to Growth of Cranes Rental Market in Saudi Arabia
9.3.4 South Africa
9.3.4.1 Change in Market Dynamics From Long-Term Rental to Short-Term Rental is Expected to Fuel Growth of Cranes Rental Market in South Africa
9.3.5 Rest of Middle East & Africa
9.3.5.1 Increased Investments and Favorable Government Policies are Expected to Fuel Growth of Cranes Rental Market in Rest of Middle East & Africa
9.4 North America
9.4.1 US
9.4.1.1 Ongoing Government Initiatives to Renovate Old Infrastructures and Increasing Demand for Rented Cranes From Various End-Use Industries is Expected to Fuel Growth of Cranes Rental Market in US
9.4.2 Canada
9.4.2.1 Increasing Investments in Infrastructure Development Projects are Expected to Drive Growth of Cranes Rental Market in Canada
9.4.3 Mexico
9.4.3.1 Increasing Private Investments in the Infrastructure Development and Industrial Sectors are Expected to Contribute to Growth of Cranes Rental Market in Mexico
9.5 Europe
9.5.1 Germany
9.5.1.1 Increasing Infrastructure Spending is Expected to Drive Growth of Cranes Rental Market in Germany
9.5.2 France
9.5.2.1 Rising Investments in the Construction Industry of France are Fueling Growth of Cranes Rental Market in France
9.5.3 UK
9.5.3.1 Flourishing Construction Industry is Expected to Drive Growth of Cranes Rental Market in the UK
9.5.4 Italy
9.5.4.1 Recovering Construction Industry of Country is Expected to Fuel Growth of Cranes Rental Market in Italy
9.5.5 Spain
9.5.5.1 Increasing Investments in Non-Residential Projects are Leading to Growth of Cranes Rental Market in Spain
9.5.6 Sweden
9.5.6.1 Increasing Government Initiatives and Flourishing Non-Residential Sector are Expected to Drive Growth of Cranes Rental Market in Sweden
9.5.7 Rest of Europe
9.5.7.1 Flourishing Construction Industry, Especially in Poland, is Projected to Fuel Growth of Cranes Rental Market in Rest of Europe
9.6 South America
9.6.1 Brazil
9.6.1.1 Flourishing End-Use Industries are Expected to Drive Growth of Brazil Cranes Rental Market During the Forecast Period
9.6.2 Argentina
9.6.2.1 Sustainable Economic Development and Investments From Foreign Investors are Expected to Drive Growth of Cranes Rental Market in Argentina
9.6.3 Rest of South America
9.6.3.1 Free Trade Zone and the Presence of Trained Workforce are Expected to Fuel Growth of Cranes Rental Market in Rest of South America

10 Dive
10.1.1 Visionaries
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Ranking of Key Players in Cranes Rental Market in 2018

11 Company Profiles
11.1 Mammoet
11.2 Sarens N.V.
11.3 Lampson International LLC
11.4 ALE
11.5 Maxim Crane Works L.P.
11.6 Action Construction Equipment Ltd.
11.7 Weldex (International) Offshore Ltd.
11.8 Mediaco Group
11.9 Buckner Heavylift Cranes, LLC
11.10 Starlog Enterprises Limited
11.11 Ahern Rentals, Inc.
11.12 United Rentals, Inc.
11.13 All Erection & Crane Rental Corp.
11.14 Uchimiya Transportation & Engineering Co. Ltd.
11.15 Sanghvi Movers Limited
11.16 Other Key Players
11.16.1 TAT Hong Holdings Ltd.
11.16.2 Al Jaber Heavy Lift
11.16.3 Prangl Gesellschaft M.B.H
11.16.4 Tiong Woon Corporation Holding Ltd.
11.16.5 Sarilar Group
11.16.6 Deep South Crane and Rigging
11.16.7 HSS Hire Service Group PLC
11.16.8 Liebherr-Mietpartner GmbH
11.16.9 Hitachi Construction Machinery Co. Ltd.
11.16.10 Ameco

For more information about this report visit https://www.researchandmarkets.com/r/39hsp8

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Source: GlobeNewswire PR (October 1, 2019 - 10:28 AM EDT)

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