Crane Rental Market Size Worth $82.39 Billion by 2034 | CAGR: 5.0%

Crane Rental Market Size Worth $82.39 Billion by 2034 | CAGR: 5.0%


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.

Top of FormCrane Rental Market Report Highlights

  • Based on type, the fixed crane segment accounted for a larger revenue share of the crane rental market in 2024 due to its extensive use in large-scale infrastructure projects, requiring stable and high-capacity lifting solutions for prolonged periods.
  • The buildings & constructions segment, by end-use industry, is expected to register the highest CAGR during the forecast period due to the surge in urbanization leading to an increase in investments in residential and commercial projects.
  • In 2024, Asia Pacific accounted for the largest share of the crane rental market due to rapid industrialization, significant infrastructure development, and increased urbanization across the region.
  • The North America market is expected to record the highest CAGR during the forecast period due to robust infrastructure investments, increased construction activities, and the rising adoption of advanced crane technologies across various industries.
  • A few global key market players are Action Construction Equipment Ltd.; Furukawa UNIC Corporation, Liebherr; Mammoet; Manitex International Inc.; Maxim Crane Works; Palfinger AG; Sany Group; Serens N.V.; The Manitowoc Company, Inc.; and United Rentals Inc.

Polaris Market Research has segmented the crane rental market report on the basis of type, weight lifting capacity, end–use industry, and region:

By Type Outlook (RevenueUSD Billion, 2020–2034)

  • Mobile Cranes
  • Fixed Cranes

By Weight Lifting Capacity Outlook (Revenue – USD Billion, 2020–2034)

  • Low
  • Low to Medium
  • Heavy
  • Extreme Heavy

By End–Use Industry Outlook (Revenue – USD Billion, 2020–2034)

  • Buildings & Constructions
  • Infrastructure
  • Oil & Gas
  • Mining and Excavation
  • Transportation
  • Marine & Offshore
  • Others

    By Regional Outlook (Revenue – USD Billion, 2020–2034)

  • North America
  • US
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Crane Rental Report Scope

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

  • By Type
  • By Weight Lifting Capacity
  • By End Use Industry

Regional Scope

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Competitive Landscape

  • Crane Rental Industry Trends Analysis (2024)
  • Company Profiles/Industry participants profiling includes company overview, financial information, product/service benchmarking, and recent developments

Report Format

  • PDF + Excel

Customization

Report customization as per your requirements with respect to countries, regions, and segmentation.

For Specific Research Requirements

Request for Customized Report