×
Industry Reports Services Press Release
  •   Blogs
  • Contact us About us

    North America 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 (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
    Published Date: November 2020   |   Report ID: GR1517   |   Delivery: PDF  Request Free Sample

    North America Crane Rental Market share was estimated to be over USD 4.5 billion in 2019 and is expected to grow at a CAGR of over 3% from 2020 to 2026.

    North America Crane Rental Market

    Get more details on this report - Request Free Sample PDF

    Positive outlook of the construction industry in North American countries including Canada and the U.S. is driving the crane rental market. Increasing demand for residential and commercial infrastructure owing to rapid urbanization and favorable employment opportunities in urban areas have led to a high growth in construction projects. According to the industry update by the U.S. Bureau of Census, the country witnessed an increase of 4.1% in the construction spending in the first nine months of 2020 as compared to the same period in 2017. Increasing government investments in infrastructure development will provide new opportunities to the North America crane rental market.

    Shifting preference of construction contractors towards rental equipment due to the high initial investments required to procure new cranes is driving the regional market growth. Expensive nature of new cranes with high lifting capacities are encouraging construction companies to rent the equipment for specific tasks. High maintenance costs associated with owned equipment is also contributing to the increasing demand for crane rentals. Presence of several established market players such as Mammoet and Maxim Crane Works in North America are improving the regional market statistics.

    The rapid spread of the COVID-19 pandemic in North America has severely impacted the crane rental industry. Over four million people have been infected by the virus in 2020. The U.S. government announced lockdowns in majority of the U.S. states over the period of March to May 2020 to contain the spread of the virus. This has led to the temporary shutdown of several construction & mining industries and major utility distribution infrastructure development in the country. This has led to a temporary slowdown in the demand for crane rental equipment in the region.

    Expansion of telecommunication facilities in North America is one of the major factors driving the crane rental market. Countries including the U.S. and Canada are investing significantly in the development of robust telecommunication infrastructure, creating a high demand for cranes. For instance, in January 2020, the U.S. government announced its plans to invest approximately USD 6 billion for the development of 5G and other wireless technologies over the next five years. Increasing importance of technologically advanced cranes for the installation of network infrastructure is supporting the market share.

    The U.S. crane rental industry is will experience a high growth over the forecast timeline. Higher flexibility and low operating costs offered by renting cranes as opposed owning one, is a major factor driving the crane rental market in the U.S. Stringent government regulations to incorporate safety regulations in cranes and enhance the working environment are improving the crane rental market. Companies such as Haulotte are trying to expand their presence in the U.S., propelling the growth of the regional industry size.

    Key players operating in the industry are Deep South Crane and Rigging, Mammoet Holdings, Maxim Crane Works, Sarens NV and All Erection Crane Rental. These players are focusing on acquisition of smaller industry players to gain a high market share. For instance, in September 2020, Maxim Crane Works acquired the assets associated with NCSG Crane and Heavy Haul in the U.S. This supported the company’s expansion plans in the Western U.S. Through this acquisition, the company enhanced its fleet, footprint, and team of operators and employees.
     


    Frequently Asked Question(FAQ) :

    How much will the North America Crane Rental Market share grow during the forecast timeline?
    The industry share of North America Crane Rental is anticipated to grow at 3% CAGR between 2020 and 2026.
    Which factor to boost the market in US?
    The U.S. crane rental industry is will experience a high growth over the forecast timeline. Higher flexibility and low operating costs offered by renting cranes as opposed owning one, is a major factor driving the crane rental market in the U.S.
    Which are the key players involved in the market?
    Key players operating in the North America crane rental market are Deep South Crane and Rigging, Mammoet Holdings, Maxim Crane Works, Sarens NV and All Erection Crane Rental.

    Get this research report on North America Crane Rental Market customized according to your business requirements.

    report-purchase - logo Buy Now

    Why Choose us?

    • on-time delivery On-Time Delivery

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

    • assured quality 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 Payment Security

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

    Connect with our sales team

      (+1)-208-273-9852

     [email protected]