The global crane rental market size is expected to reach USD 82.39 billion by 2034, according to a new study by Polaris Market Research. The report “Crane Rental Market Share, Size, Trends, Industry Analysis Report – By Type (Mobile Cranes and Fixed Cranes), Weight Lifting Capacity, End-Use Industry, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Segment Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The crane rental market plays a crucial role in the construction and heavy equipment industry, offering a flexible and cost-effective alternative to purchasing cranes. Renting provides businesses with the flexibility to utilize a diverse selection of crane types and sizes as per their project requirements, all without the accompanying financial commitments of ownership. This market serves multiple sectors, including construction, energy, manufacturing, logistics, and particularly mining and excavation.
The crane rental market is significantly driven by the increasing infrastructure development, which is fueled by expanded investments in projects such as roads, bridges, and urban expansions. These projects require the heavy lifting and transportation capabilities that cranes provide. Additionally, rapid urbanization and population growth are leading to more construction activities, particularly in residential and commercial sectors, further boosting the need for cranes. Technological advancements in crane design, including improved safety features, higher lifting capacities, and enhanced operational efficiency, also make rentals more appealing to businesses looking to utilize the latest technology without spending high capital costs.
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The mining & excavation industry is a strong contributor to the growth of the crane rental market. Mining operations involve the transportation and assembly of heavy machinery and the construction of mining infrastructure; thus, they rely heavily on cranes to move large and weighty equipment such as excavators and drilling rigs. Crane rentals offer a practical solution by providing specialized equipment designed for rough conditions, such as remote and challenging locations of mining sites. This enables mining companies to quickly scale operations, adapt to varying project demands, and manage costs effectively. These factors contribute to the growing demand for crane rental services in this industry.
By Type Outlook (Revenue – USD Billion, 2020–2034)
By Weight Lifting Capacity Outlook (Revenue – USD Billion, 2020–2034)
By End–Use Industry Outlook (Revenue – USD Billion, 2020–2034)
By Regional Outlook (Revenue – USD Billion, 2020–2034)
Report Attributes |
Details |
Market Size Value in 2024 |
USD 50.63 billion |
Market Size Value In 2025 |
USD 53.11 billion |
Revenue Forecast by 2034 |
USD 82.39 billion |
CAGR |
5.0% from 2025 to 2034 |
Base Year |
2024 |
Historical Data |
2020–2023 |
Forecast Period |
2025–2034 |
Quantitative Units |
Revenue in USD bllion and CAGR from 2025 to 2034 |
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered |
|
Regional Scope |
|
Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
For Specific Research Requirements |