According to the Graphical Research new growth forecast report titled Asia Pacific Crane Rental Market Size will be over USD 5 billion by 2026. High costs associated with purchasing of new cranes are augmenting the growth of crane rental market in Asia Pacific. Low investments required for renting cranes as compared to purchasing new models is encouraging end-users to shift toward crane rental services. Crane rental companies also provide value-added services, such as pick up & drop and technical maintenance & repair for the equipment, contributing to the market growth. The easy availability of rental products & services in Asian countries due to the rapid development in the construction sector will contribute to industry growth.

COVID-19 has impacted the economies of Asian countries on a large scale. The virus has caused huge losses to life and the economy in India, Japan, and South Korea. Implementation of nationwide lockdowns to prevent the virus spread has led to a steep decline in economic indicators such as GDP and per capita household income. Complete shutdown of the manufacturing sector during March and June 2020 has affected the production capabilities of crane manufacturers, restricting crane rental industry growth. The market is expected to grow steadily with the reduction in the impact of the pandemic in 2021.

The crawler crane segment is expected to witness a growing demand in the Asia Pacific market over the forecast period. These cranes are widely deployed for demolition, bridge constructions, cargo loading, and debris removal. The ability of crawler cranes to operate efficiently on off-road surfaces is further driving their market demand. The rental demand for crawler cranes has grown in recent years owing to the efficient rental, maintenance, and installation services offered by rental companies. They provide technical assistance and mechanics for the installation of replacement parts.

Market 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, Uchimiya Transportation and Engineering Co., Ltd., Tiong Woon Corporation Holding Ltd., and Weldex (International) Offshore Ltd. Market players are emphasizing on including technologically-advanced crane models in their rental fleet to cater to customer demands. For instance, in March 2020, Sarilar Group expanded its rental fleet with the addition of LRT 1100-2.1 rough-terrain crane from Liebherr Group.

Asia Pacific Crane Rental Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026, for the following segments:

Market Share, By Type

• Mobile cranes  
  • All terrain crane
  • Crawler crane
  • Rough terrain crane
  • Truck loader crane 
• Fixed cranes 
  • Monorail crane
  • Tower crane
  • Stiffleg crane
  • Gantry crane

Market Size, By Application

• Construction & mining
• Utility
• Transportation
• Manufacturing
• Oil & gas

The above information is provided on a country basis for the following:

• China
• India
• Japan
• South Korea