Tower Crane Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented 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, Competition 2018-2028

Industry : Infrastructure
Pages : NA
Published Date : NA

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Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 5.96 Billion
CAGR (2023-2028)	6.92%
Fastest Growing Segment	Flat Top Tower Cranes
Largest Market	Asia Pacific

Market Overview

Global Tower Crane Market was valued at USD 5.96 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.92% through 2028. The increasing in Building and Construction sector

Key Market Drivers

Construction Industry Growth will help in Tower Crane Market growth.

The global tower crane market is intrinsically linked to the growth and dynamism of the construction industry, making construction industry growth a pivotal driver for the expansion of the tower crane market. First and foremost, the construction sector serves as the primary customer base for tower crane manufacturers and rental companies. As urbanization and population growth persist, there's a continued demand for infrastructure development, housing, commercial spaces, and various construction projects. Tower cranes are indispensable for these projects, as they provide the necessary lifting and material handling capabilities required to build structures of varying sizes and complexity.

Urbanization trends, especially in emerging economies, are a significant catalyst for construction industry growth. As people migrate to cities in search of better opportunities, there's a pressing need for residential buildings, commercial complexes, and critical infrastructure. These projects invariably require tower cranes to efficiently complete tasks like lifting heavy construction materials, erecting steel structures, and placing concrete elements. Moreover, the expansion of the construction industry is not limited to urban areas alone. Rural infrastructure development, including roads, bridges, and agricultural facilities, also contributes to the demand for tower cranes. These cranes are versatile and adaptable, making them suitable for a wide range of construction applications.

Government initiatives and investments in infrastructure projects further amplify the construction industry's impact on the tower crane market. Countries often allocate substantial budgets to improve transportation networks, energy facilities, and public services. Tower cranes are instrumental in executing these large-scale projects efficiently and within stipulated timeframes. Additionally, economic growth and stability play a significant role in driving construction industry activities. Robust economies encourage private investment in real estate, commercial ventures, and industrial facilities, which, in turn, fuels the demand for tower cranes. In conclusion, the construction industry's growth remains a pivotal driver for the global tower crane market. The increasing urbanization, government infrastructure investments, economic prosperity, and the need for both urban and rural development continue to propel the construction sector forward, ensuring a consistent and growing demand for tower cranes in a variety of construction projects. As long as construction remains a cornerstone of global development, the tower crane market is poised for sustained growth.

Technological Advancements Have Played a Crucial Role in The Growth of The Tower Crane Market

Technological advancements are poised to be a driving force behind the growth and evolution of the global tower crane market. As the construction industry undergoes a digital transformation, several key technological innovations are reshaping the landscape of tower crane operations, safety, and efficiency. One of the most significant technological advancements is the integration of automation and remote monitoring systems into tower crane designs. Automation technology allows tower cranes to perform tasks with greater precision and efficiency while minimizing the risk of human error. These automated systems can handle complex maneuvers and lifts, improving productivity on construction sites. Remote monitoring enables operators to control cranes from a centralized location, enhancing safety and reducing the need for on-site personnel, especially in hazardous or challenging environments.

The development of advanced sensor technologies is another crucial factor driving the tower crane market. These sensors provide real-time data on crucial parameters such as load capacity, wind speed, and crane stability. By continuously monitoring these factors, tower cranes can automatically adjust their operations to ensure safety and prevent accidents. This technology reduces the likelihood of overloading or toppling incidents, safeguarding both workers and equipment. Telematics and data analytics are also playing a pivotal role in the industry's technological transformation. Tower crane manufacturers and operators can collect and analyze vast amounts of data, allowing them to optimize crane usage, schedule maintenance proactively, and improve overall operational efficiency. Predictive maintenance, enabled by data analytics, minimizes downtime and extends the lifespan of tower cranes.

Furthermore, advancements in materials and design are enhancing the structural integrity and lifting capabilities of tower cranes. High-strength steel alloys, carbon fiber components, and innovative structural designs contribute to lighter yet stronger crane structures. This not only improves performance but also reduces fuel consumption, transportation costs, and environmental impact. In conclusion, technological advancements are revolutionizing the global tower crane market. Automation, remote monitoring, sensor technology, data analytics, and improved materials are driving increased efficiency, safety, and sustainability in the construction industry. As these technologies continue to evolve, we can expect to see a growing demand for modern, technologically advanced tower cranes that can meet the complex needs of construction projects worldwide.

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Key Market Challenges

Economic Volatility

Economic volatility poses a significant threat to the global tower crane market. This volatility encompasses fluctuations in economic conditions, including recessionary periods, currency devaluations, and financial instability, all of which can have detrimental effects on the construction industry and subsequently impact the demand for tower cranes. During economic downturns or recessions, construction activity tends to slow down as investments in new projects decrease. Reduced construction budgets and tighter financing can lead to project delays or cancellations, directly affecting the need for tower cranes. Construction companies may be hesitant to invest in new crane equipment or rental services during uncertain economic times, further constraining the market. Currency devaluations can also impact tower crane prices, particularly for international manufacturers and buyers. Exchange rate fluctuations can lead to increased costs for importing tower cranes or their components, affecting the pricing dynamics within the market.

Financial instability and credit constraints can limit the ability of construction companies to secure financing for their projects, which can result in delayed or deferred construction plans. This, in turn, directly affects the demand for tower cranes, as many construction projects are capital-intensive and rely on external funding. The construction industry is inherently tied to economic conditions, and any instability can lead to reduced construction activity, lower demand for tower cranes, and increased competition among crane manufacturers and rental companies. It can also lead to pricing pressures, as companies may seek to reduce costs to remain competitive, potentially impacting profit margins. To mitigate the impact of economic volatility, companies in the tower crane market must diversify their operations, explore emerging markets with more stable economic conditions, and develop financial strategies that can withstand economic downturns. Additionally, government stimulus packages and infrastructure investments can provide a buffer against economic shocks by stimulating construction activity and increasing demand for tower cranes during challenging economic times.

Maintenance and Downtime:

Maintenance and downtime pose significant challenges to the global tower crane market, affecting both crane operators and construction projects. Tower cranes are essential for vertical construction, and any interruption in their operation can have wide-reaching implications. Scheduled maintenance is essential for tower cranes to ensure safe and reliable performance. However, during maintenance, the crane is out of operation, leading to downtime. This downtime can disrupt construction schedules, delay project completion, and result in financial penalties. Tight project timelines make it crucial for construction companies to minimize downtime, and any unplanned maintenance can exacerbate these issues. Maintenance itself can be costly, encompassing expenses for replacement parts, skilled labor, and potential rental costs for backup cranes during repairs. Smaller construction firms may find these costs burdensome, impacting their competitiveness and profitability.

Moreover, tower crane manufacturers and rental companies must carefully manage their fleets to balance maintenance needs with customer demand. Overcommitting cranes to projects without allowing necessary maintenance can lead to excessive wear and tear, frequent breakdowns, and a decrease in overall reliability, which can harm their reputation and client relationships. Efforts to address these challenges include the adoption of advanced maintenance techniques such as predictive maintenance. By leveraging data analytics and sensor technology, predictive maintenance can anticipate maintenance requirements, allowing for proactive interventions before serious issues occur. This approach reduces unplanned downtime, enhances safety, and improves crane longevity. In conclusion, maintenance and downtime are substantial hurdles in the global tower crane market. While essential for safety and equipment longevity, they necessitate careful planning and innovative solutions to minimize their impact on construction projects and crane operations. Balancing maintenance needs with project demands remains a critical consideration for the industry's sustained growth and success.

Key Market Trends

Rental Market Growth

The growth of the rental market is a significant driving force behind the global tower crane market. Rental services for tower cranes have become increasingly popular among construction companies for several compelling reasons, and this trend is expected to continue driving market expansion. Firstly, the tower crane rental market provides construction firms with cost-effective solutions. Purchasing a tower crane outright can be a substantial financial burden, especially for smaller companies or for projects that require specialized equipment. Renting tower cranes allows construction companies to access the latest models without a substantial upfront capital investment. This cost-efficiency is especially attractive in the face of budget constraints or uncertainty in project pipelines.

Secondly, the rental market offers flexibility and scalability. Construction projects come in various sizes and complexities, and the choice of tower crane needs to align with project requirements. Renting allows companies to select the appropriate crane model, height, and capacity for each project, optimizing their equipment for maximum efficiency. Furthermore, tower crane rental services often include maintenance and servicing, relieving construction firms of the responsibility of upkeep. This minimizes downtime due to maintenance, ensuring that tower cranes remain operational for the duration of the project.

The rental market also provides access to a broader range of crane types and models. Construction firms can choose from a variety of tower crane designs, including luffing jib cranes, hammerhead cranes, and self-erecting cranes, depending on the specific needs of their projects. Lastly, the rental market aligns with sustainability objectives. Tower crane rental companies often have newer, more environmentally friendly crane models available. This allows construction firms to reduce their environmental footprint and meet sustainability goals without the need for substantial capital investment. In conclusion, the growth of the rental market is a pivotal driver of the global tower crane market. Cost-effectiveness, flexibility, maintenance services, equipment variety, and sustainability considerations make renting tower cranes an attractive choice for construction companies, stimulating demand and fueling market expansion.

Urbanization and High-Rise Construction

Urbanization and high-rise construction are poised to be powerful drivers of the global tower crane market. As the world's population continues to gravitate towards urban centers in search of economic opportunities and a higher quality of life, the demand for urban infrastructure and high-rise buildings is on the rise. This surge in urbanization fuels the need for taller and more complex structures, and tower cranes are indispensable for these projects. One of the primary impacts of urbanization is the proliferation of skyscrapers and high-rise buildings in cities. These iconic structures are not only a testament to modern urbanization but also a symbol of economic growth and prosperity. Constructing such buildings necessitates the use of tower cranes due to their exceptional lifting capabilities, stability, and reach. Whether it's the construction of luxury condominiums, commercial office spaces, or mixed-use developments, tower cranes play a pivotal role in lifting heavy materials and placing components with precision at significant heights.

Additionally, urbanization extends beyond the construction of buildings to encompass infrastructure development. Expanding urban areas require upgraded transportation networks, including bridges, tunnels, and elevated highways. These infrastructure projects also rely heavily on tower cranes for tasks such as lifting heavy bridge segments and constructing overpasses. In summary, the increasing trend of urbanization and high-rise construction is a key driver of the global tower crane market. As more people migrate to urban areas and cities continue to expand, the demand for tower cranes to support the construction of skyscrapers, high-rise buildings, and critical urban infrastructure will likely remain robust. This trend is expected to shape the tower crane market's growth trajectory in the coming years, especially in densely populated regions and emerging urban centers worldwide.

Segmental Insights

Product Insights

Flat Top Tower Cranes will dominate the market in the forecast period. Flat top tower cranes are an appealing and effective choice for construction projects due to their numerous advantages. These cranes, for instance, have excellent structural strength and balance due to the absence of a tower top, pull rod, and outrigger. Tower cranes with flat tops are also more cost-effective because they have a smaller volume and take up less space than regular cranes. This makes it much easier to install them and saves money on maintenance and storage. Additionally, these cranes' interchangeable, modularized, and standardized components ensure that every component is utilized, resulting in a high return on investment. Lastly, a flat top crane's jib boom can be disassembled and reassembled in midair, allowing project managers to use these cranes for special tasks like building suspension bridges and industrial cooling towers. The tower crane market is expanding as a result of these advantages taken together.

Lifting Capacity Insights

6-20 metric tons will dominate the market. With rapid urbanization, the need for tower cranes is expected to increase during the forecast period. The 5T and 10T lifting capacity cranes are expected to be the most used type in construction activity, due to the broad spectrum of uses these cranes can offer. Also, most of the material that needs lifting from the crane falls under this category and has also led to these segments leading the market during the forecast period.

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Regional Insights

The Asia Pacific has established itself as the leader in the Global Tower Crane Market with a significant revenue share in 2022.

Asian countries are primarily driving the demand for tower cranes due increase in infrastructure development activities and the development of high-rise commercial and residential projects across Asia-Pacific. Several infrastructure developments being undertaken by governments and many other private firms have been a major driving force to increase the demand for tower cranes. Singapore, for instance, has a huge infrastructure development program initiated by the government, which is another contributing factor to the demand for tower cranes. In March 2021, the Thai Government is set to sign three contracts in connection with the Thai-Sino high-speed train project between Bangkok and Nakhon Ratchasima. Additional three contracts, including civil works for the Ban Pho-Phra Kaew section, civil engineering works along the Bang Sue-Don Muang section, and works between Don Muang and Nava Nakhon will also be signed after the preparation of the documents.

Considering such developments, tower cranes market in Asia-Pacific is likely to witness a steady and consistent growth over the forecast period.

Recent Developments

In August 2022, Sany Bharat expanded its presence in India. The company expanded its dealership network across Karnataka, Chennai, and Andhra Pradesh states.
In March 2022, XL Kranlogistik signed a partnership agreement with Terex Corporation. Through this partnership, the XL Kranlogistik placed a significant order for fourteen Terex Tower Cranes to add to their already extensive Terex crane fleet.
In May 2021, Zoomlion Heavy Industry Science & Technology Co., Ltd launched the full operation of its tower crane intelligent manufacturing (IM) factory in Hunan, China.

Key Market Players

Action Construction Equipment Ltd.
ENG CRANES Srl
JASO Tower Cranes
Liebherr-International AG
Manitowoc Company, Inc.
SANY Global
Sarens n.v./s.a.
Terex Corporation
XCMG
Zoomlion Heavy Industry Science & Technology Co., Ltd.

By Product	By Design	By Lifting Capacity	By End User	By Region
Flat Top Hammerhead Luffing Jib Self-Erecting	Top Slewing Bottom Slewing	<5 metric tons 6-20 metric tons 21-50 metric tons 51-80 metric tons >80 metric tons	Infrastructural Residential Commercial	North America Asia- Pacific Europe South America Middle East & Africa

Report Scope:

In this report, the Global Tower Crane Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

o Tower Crane Market, By Product:

o Flat Top

o Hammerhead

o Luffing Jib

o Self-Erecting

o Tower Crane Market, By Design:

o Top Slewing

o Bottom Slewing

o Tower Crane Market, By Lifting Capacity:

o <5 metric tons

o 6-20 metric tons

o 21-50 metric tons

o 51-80 metric tons

o >80 metric tons

o Tower Crane Market, By End Use:

o Infrastructural

o Residential

o Commercial

o Tower Crane Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Indonesia

o Europe

§ Germany

§ United Kingdom

§ France

§ Russia

§ Spain

o South America

§ Brazil

§ Argentina

o Middle East & Africa

§ Saudi Arabia

§ South Africa

§ Egypt

§ UAE

§ Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Tower Crane Market.

Available Customizations:

Global Tower Crane Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

o Detailed analysis and profiling of additional market players (up to five).

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Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.3. Markets Covered

1.4. Years Considered for Study

1.5. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

4. Voice of Customers

5. Global Tower Crane Market Overview

6. Global Tower Crane Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product (Flat Top, Hammerhead, Luffing Jib, Self-Erecting)

6.2.2. By Design (Top Slewing, Bottom Slewing)

6.2.3. By Lifting Capacity (<5 metric tons, 6-20 metric tons, 21-50 metric tons, 51-80 metric tons, >80 metric tons)

6.2.4. By End User (Infrastructural, Residential, Commercial)

6.2.5. By Region

6.3. By Company (2022)

6.4. Market Map

7. North America Tower Crane Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product

7.2.2. By Design

7.2.3. By Lifting Capacity

7.2.4. By End User

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Tower Crane Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Product

7.3.1.2.2. By Design

7.3.1.2.3. By Lifting Capacity

7.3.1.2.4. By End User

7.3.2. Canada Tower Crane Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Product

7.3.2.2.2. By Design

7.3.2.2.3. By Lifting Capacity

7.3.2.2.4. By End User

7.3.3. Mexico Tower Crane Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Product

7.3.3.2.2. By Design

7.3.3.2.3. By Lifting Capacity

7.3.3.2.4. By End User

8. Asia-Pacific Tower Crane Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product

8.2.2. By Design

8.2.3. By Lifting Capacity

8.2.4. By End User

8.2.5. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Tower Crane Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Product

8.3.1.2.2. By Design

8.3.1.2.3. By Lifting Capacity

8.3.1.2.4. By End User

8.3.2. India Tower Crane Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Product

8.3.2.2.2. By Design

8.3.2.2.3. By Lifting Capacity

8.3.2.2.4. By End User

8.3.3. Japan Tower Crane Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Product

8.3.3.2.2. By Design

8.3.3.2.3. By Lifting Capacity

8.3.3.2.4. By End User

8.3.4. South Korea Tower Crane Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Product

8.3.4.2.2. By Design

8.3.4.2.3. By Lifting Capacity

8.3.4.2.4. By End User

8.3.5. Indonesia Tower Crane Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Product

8.3.5.2.2. By Design

8.3.5.2.3. By Lifting Capacity

8.3.5.2.4. By End User

9. Europe Tower Crane Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product

9.2.2. By Design

9.2.3. By Lifting Capacity

9.2.4. By End User

9.2.5. By Country

9.3. Europe: Country Analysis

9.3.1. Germany Tower Crane Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Product

9.3.1.2.2. By Design

9.3.1.2.3. By Lifting Capacity

9.3.1.2.4. By End User

9.3.2. United Kingdom Tower Crane Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Product

9.3.2.2.2. By Design

9.3.2.2.3. By Lifting Capacity

9.3.2.2.4. By End User

9.3.3. France Tower Crane Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Product

9.3.3.2.2. By Design

9.3.3.2.3. By Lifting Capacity

9.3.3.2.4. By End User

9.3.4. Russia Tower Crane Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Product

9.3.4.2.2. By Design

9.3.4.2.3. By Lifting Capacity

9.3.4.2.4. By End User

9.3.5. Spain Tower Crane Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Product

9.3.5.2.2. By Design

9.3.5.2.3. By Lifting Capacity

9.3.5.2.4. By End User

10. South America Tower Crane Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product

10.2.2. By Design

10.2.3. By Lifting Capacity

10.2.4. By End User

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Tower Crane Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Product

10.3.1.2.2. By Design

10.3.1.2.3. By Lifting Capacity

10.3.1.2.4. By End User

10.3.2. Argentina Tower Crane Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Product

10.3.2.2.2. By Design

10.3.2.2.3. By Lifting Capacity

10.3.2.2.4. By End User

11. Middle East & Africa Tower Crane Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Product

11.2.2. By Design

11.2.3. By Lifting Capacity

11.2.4. By End User

11.2.5. By Country

11.3. Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Tower Crane Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Product

11.3.1.2.2. By Design

11.3.1.2.3. By Lifting Capacity

11.3.1.2.4. By End User

11.3.2. South Africa Tower Crane Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Product

11.3.2.2.2. By Design

11.3.2.2.3. By Lifting Capacity

11.3.2.2.4. By End User

11.3.3. UAE Tower Crane Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Product

11.3.3.2.2. By Design

11.3.3.2.3. By Lifting Capacity

11.3.3.2.4. By End User

11.3.4. Israel Tower Crane Market Outlook

11.3.4.1. Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2. Market Share & Forecast

11.3.4.2.1. By Product

11.3.4.2.2. By Design

11.3.4.2.3. By Lifting Capacity

11.3.4.2.4. By End User

11.3.5. Egypt Tower Crane Market Outlook

11.3.5.1. Market Size & Forecast

11.3.5.1.1. By Value

11.3.5.2. Market Share & Forecast

11.3.5.2.1. By Product

11.3.5.2.2. By Design

11.3.5.2.3. By Lifting Capacity

11.3.5.2.4. By End User

12. Market Dynamics

12.1. Drivers

12.2. Challenge

13. Market Trends & Developments

14. Company Profiles

14.1. Action Construction Equipment Ltd.

14.1.1. Business Overview

14.1.2. Key Revenue and Financials (If Available)

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.2. ENG CRANES Srl

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.3. JASO Tower Cranes

14.3.1. Business Overview

14.3.2. Key Revenue and Financials (If Available)

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.4. Liebherr-International AG

14.4.1. Business Overview

14.4.2. Key Revenue and Financials (If Available)

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.5. Manitowoc Company, Inc.

14.5.1. Business Overview

14.5.2. Key Revenue and Financials (If Available)

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.6. Cantek America Inc.

14.6.1. Business Overview

14.6.2. Key Revenue and Financials (If Available)

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.7. SANY Global

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.8. Sarens n.v./s.a.

14.8.1. Business Overview

14.8.2. Key Revenue and Financials (If Available)

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.9. Terex Corporation

14.9.1. Business Overview

14.9.2. Key Revenue and Financials (If Available)

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.10. XCMG

14.10.1. Business Overview

14.10.2. Key Revenue and Financials (If Available)

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Product/Services

15. Strategic Recommendations

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global Tower Crane Market in 2022?

The market size of the Global Tower Crane Market was estimated to be USD 5.96 Billion in 2022.

Which was the dominant segment by product in the Global Tower Crane Market in 2022?

Based on the product, Flat Top Tower Cranes will dominate the market in the forecast period. Flat top tower cranes are an appealing and effective choice for construction projects due to their numerous advantages. These cranes, for instance, have excellent structural strength and balance due to the absence of a tower top, pull rod, and outrigger.

What is the main Challenge in the Global Tower Crane Market?

High cost of the equipment, setup time, and safety of the workers has always been one of the prime concerns of end users., these factors are restraining market growth.