Tower Crane Market is expected to grow at a CAGR of 5.59% through 2030F
The
Global Tower Crane Market is expected to be led by the Flat Top crane segment,
driven by its adaptability, ease of use in congested construction sites, and
rising implementation in urban high-rise and infrastructure projects, during the
forecast period 2026-2030F
According to TechSci Research report, “Tower Crane Market - Global
Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F, The
Global Tower Crane Market was valued at USD 7.67 Billion in 2024 and is
expected to reach USD 10.63 Billion by 2030 with a CAGR of 5.59% through 2030.
The global
shift toward equipment rental rather than ownership is bolstering demand for
tower cranes, particularly in developing economies and among small to mid-sized
contractors. Tower cranes represent a significant capital investment and
require ongoing maintenance, storage, and skilled operation. Renting cranes
offers flexibility, reduces upfront costs, and allows access to modern
equipment without long-term financial commitment. As of 2024, more than 55% of
all tower cranes in operation globally were provided through rental services
rather than direct ownership. This shift is driven by construction companies
seeking cost-effective access to high-performance machinery while avoiding
capital expenditure, maintenance responsibilities, and downtime risks associated
with owning heavy lifting equipment.
Rental
companies now offer a wide range of tower crane models with value-added
services such as on-site setup, operator training, and digital fleet tracking.
This shift is increasing the accessibility of tower cranes to a wider range of
projects and regions, thereby expanding their market penetration. The rental
trend also aligns with sustainability goals by maximizing utilization and
minimizing idle equipment.
Flat-top tower cranes are gaining significant
traction in urban construction projects due to their structural simplicity and
ease of assembly. Unlike conventional hammerhead cranes, flat-top models
eliminate the need for a tower head, reducing overall height and making them
suitable for use in congested environments with multiple cranes operating
simultaneously. This design also enables faster transportation, dismantling,
and reconfiguration, reducing project turnaround times and labor costs.
Urban infrastructure growth, especially in densely
populated cities, has necessitated more versatile lifting equipment. Flat-top
tower cranes address the challenge of overlapping crane zones by minimizing
crane height differentials and eliminating the need for additional safety
clearance. Their compact design and reduced component count also contribute to
lower maintenance requirements and enhanced safety standards. As demand grows
for modular and vertical construction projects, the flexibility offered by flat-top
tower cranes is expected to support their dominance in the evolving global
tower crane market.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "Global Tower Crane Market"
In
2024, the Infrastructural segment emerged as the fastest-growing end-user
category in the Global Tower Crane Market, driven by rising investments in
public infrastructure and urban development across emerging and developed
economies. Governments worldwide have initiated major infrastructure programs
focused on transportation networks, energy grids, and urban revitalization, all
of which demand the heavy-duty lifting and high-reach capabilities of tower
cranes. Infrastructure projects such as metro rail expansions, highway
construction, airport modernization, and power generation facilities are
increasingly relying on tower cranes to meet deadlines and safety standards,
boosting demand in this end-user vertical.
Asia
Pacific, Middle East, and parts of Africa are witnessing significant
infrastructure spending, which is further accelerating growth in this segment.
For instance, India’s “Gati Shakti” and China's “Belt and Road Initiative” are
examples of large-scale infrastructure projects fueling tower crane
utilization. Additionally, increasing adoption of smart cities and sustainable
infrastructure is promoting the deployment of advanced tower crane systems that
offer better automation, efficiency, and safety. As infrastructure continues to
be a strategic priority for economic resilience, the infrastructural end-user
segment is expected to maintain its strong growth trajectory through the
forecast period.
In
2024, the Asia Pacific region emerged as the fastest-growing market in the
Global Tower Crane Market, fueled by large-scale infrastructure development,
rapid urbanization, and significant investments in residential and commercial
construction. Countries such as China, India, Indonesia, and Vietnam are
driving demand due to government initiatives in smart cities, transportation
networks, and energy projects. The rising number of high-rise buildings and
ongoing metro rail, airport, and highway projects across the region are
significantly increasing the adoption of tower cranes. Additionally, favorable
economic conditions, growing foreign direct investments, and expanding
construction sectors have positioned Asia Pacific as a key growth engine for
the global market, with expectations of sustained momentum in the coming years.
Key
market players in the Tower Crane Market are: -
- Liebherr
Group
- Manitowoc
Company, Inc.
- Terex
Corporation
- Zoomlion
Heavy Industry Science & Technology Co., Ltd.
- XCMG
Group
- SANY
Group
- COMANSA
- WOLFFKRAN
International AG
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“The
Global Tower Crane Market is projected to grow steadily in the coming years,
driven by rapid urbanization, rising infrastructure investments, and increasing
demand for high-rise construction across emerging economies. Technological
advancements in crane automation, remote monitoring, and energy efficiency are
further enhancing operational reliability and safety, encouraging broader
adoption. Government-backed mega projects in transportation, smart cities, and
renewable energy are creating substantial opportunities for market expansion. Growing
emphasis on modular construction and vertical expansion in densely populated
cities will sustain long-term demand for tower cranes, positioning the market
for consistent growth across both developed and developing regions.” said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based global
management consulting firm.
“Tower Crane Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, By Product
(Flat Top, Hammerhead, Luffing Jib, Self-Erecting), By Design (Top Slewing,
Bottom Slewing), By Lifting Capacity (<5 metric tons, 6-20 metric tons,
21-50 metric tons, 51-80 metric tons, >80 metric tons), By End User
(Infrastructural, Residential, Commercial), By Region, By Competition, 2020-2030F” has evaluated the future growth
potential of Tower Crane Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Tower Crane Market.
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