Europe Crane Rental Market share was estimated to be over USD 4 billion in 2019 and is expected to grow at a CAGR of over 5% from 2020 to 2026.
 

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The Europe crane rental market is driven by the rapidly growing manufacturing sector in the region. Manufacturers in Europe are increasingly adopting Industry 4.0 technologies to streamline their production capabilities. Companies are also focusing on expansion of their production facilities to new geographic areas to cater to the growing market demand for their products. The growing preference of construction contractors and OEMs toward renting of heavy equipment and cranes to forego the high investments and cost of purchasing new equipment is driving the crane rental market growth.

Increasing government support for the development of large infrastructure projects, such as London Crossrail project and Fehmarn Belt Fixed Link project, is further improving the crane rental market. European construction companies are taking efforts on replacing manual methods with machines for enhancing productivity and reducing the number of accidents caused due to human involvement in construction works. The presence of rental companies that comply with strict safety standards is anticipated to increase the demand for cranes in Europe. Establishment of stringent regulations, such as EU standards for manufacturing and renting cranes, is escalating the crane rental market growth.

The rapid spread of COVID-19 pandemic has severely affected the global economy. Governments across Europe are focusing on mitigating the impact of the pandemic and have suspended the public infrastructure development activities due to lack of funds. This has adversely impacted the crane rental industry in Europe. Increasing financial insecurities among crane rental providers have led to a decline in the demand for new cranes in the market. The crane rental industry is expected to grow with the reduction in large-scale impacts of the pandemic in Europe.

The fixed crane rental industry is continually increasing in Europe owing to the availability of a wide variety of these advanced cranes at reasonable prices. The provision of rent paying options, such as flexible monthly down payments for monthly & yearly leases, is enhancing competition in the tower crane rental market in European countries. Additionally, the benefits of tower cranes, such as working in confined spaces and at elevated heights, are adding up to the demand across urban area & smart city developments in Europe.

Companies operating in the industry include Action Construction Equipment Ltd., ALL Erection Crane Rentals, Buckner Heavylift Cranes LLC, HSS Hire Service Group Plc, Liebherr-Mietpartner Gmbh, Maxim Crane Works, L.P., Mammoet, Prangl Gesellschaft M.B.H, Sarens NV, and Starlog Enterprises Limited. These players are primarily focusing on increasing their geographical presence to cater to a wide customer base. For instance, in June 2018, Sarens NV expanded in four new locations in France, Russia, the Czech Republic, and the UK.