Press Release

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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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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