× Industry Reports Services Press Release Contact us About us

Asia Pacific Crane Rental Market Size By Product (Mobile Crane [All-terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane], Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]), By Application (Construction & Mining, Manufacturing, Utility, Transportation, Oil & Gas), Industry Analysis Report, Regional Outlook (China, India, Japan, South Korea), Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
Published Date: October 2020 | Publisher: Graphical Research Report ID: GR1479 | Delivery : PDF  Request Free Sample

Asia Pacific Crane Rental Market growth was estimated to be around USD 4 billion in 2019 and is expected to grow at a CAGR of over 6% from 2020 to 2026.
 

Asia Pacific Crane Rental Market

Get more details on this report - Request Free Sample PDF

The APAC market is projected to witness high growth over the forecast timeline. The growth in market size can be attributed to the positive outlook of the construction industry in India, China, and other Asian countries. Expansion drivers in Asia Pacific include the development of smart cities, commercial spaces, railway stations & lines, airports, etc. Some major ongoing projects in the Indian construction industry include Navi Mumbai International Airport, Delhi Mumbai Industrial Corridor and Chenab River Railway Bridge. Growing requirements for efficient construction machines at lower costs are creating growth opportunities for the crane rental market.

The growing influence of industry associations and market players is expected to contribute to the market demand. For instance, in March 2017, the Japan Construction Rental Association (JCRA) was added by The Global Rental Alliance (GRA) to its membership ranks. Crane rental companies are directing their efforts on providing advanced training courses and enhanced maintenance services on its rented equipment, which will improve the market share.

The ongoing COVID-19 health crisis has impacted the crane rental industry in Asia Pacific. Governments in this region are extensively focusing on containment of the virus and treatment of patients. This has led to a halt of major government sponsored construction projects, contributing toward a decline in demand for cranes. Crane rental companies operating in Asian countries are experiencing a steep decline in revenue due to rising financial insecurities among construction contractors. The crane rental industry in the region is expected to witness a steady growth during the first half of 2021.  

Increasing government initiatives to provide power, electricity facilities, and other utilities to rural & secluded areas are providing new opportunities for the crane rental market in Asia Pacific. The constant upkeep & maintenance of electric, telecom, and water facilities require cranes, which are able to reach inaccessible and high locations. Governments of Asian countries have largely invested in the construction of utility distribution facilities along with transportation networks, thereby contributing to the growing demand for rental cranes.

The key players operating in the market include Al Jaber Heavy Lift, AT Hong Holdings Ltd, Deep South Crane and Rigging, Lampson International LLC, Mammoet, Mediaco Group, Sanghvi Movers Limited, Sarilar Group, Tiong Woon Corporation Holding Ltd., Uchimiya Transportation and Engineering Co., Ltd., and Weldex (International) Offshore Ltd. These companies are focusing on expansion of their crane rental fleet and diversifying their business operations. For instance, in February 2017, Mammoet Cranes launched a new Crane Service Division and expanded its rental fleet with advanced machines.
 

Frequently Asked Question(FAQ) :

The industry share of Asia Pacific Crane Rental Market is anticipated to grow at 6% CAGR between 2020 and 2026.
Governments in this region are extensively focusing on containment of the virus and treatment of patients. This has led to a halt of major government sponsored construction projects, contributing toward a decline in demand for cranes.
The key players operating in the Asia Pacific crane rental market include Al Jaber Heavy Lift, AT Hong Holdings Ltd, Deep South Crane and Rigging, Lampson International LLC, Mammoet, Mediaco Group, Sanghvi Movers Limited, Sarilar Group, Tiong Woon Corporation Holding Ltd., Uchimiya Transportation and Engineering Co., Ltd., and Weldex (International) Offshore Ltd.

Premium Report

Have questions?
  • Inquire Before Buying
  • Why Choose us?

    • On-Time Delivery

      We commit to on-time delivery of reports to keep you ahead.

    • Assured Quility

      With a wide network of industry experts and trained in-house analysts, we assure best service quality.

    • Custom Research Service

      We offer research services to meet specific client requirements and provide them with actionable insights on target markets.

    • Payment Security

      Our safe payment gateway gives you full control of your personal data, at all times.

    Connect with our sales team

     1-800-986-6917

     [email protected]