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Europe Crane Rental Market Size to Witness $5 bn by 2026
Published Date: 2020-10-21
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According to the Graphical Research new growth forecast report titled Europe Crane Rental Market size is set to be over USD 5 billion by 2026. The market is anticipated to witness a high growth owing to the increasing focus of rental companies on low-emission machines. The crane rental operators in Europe are heavily investing on environment-friendly and technologically-advanced cranes to increase the fleet size and to ensure that there is no shortage of modern equipment. The surge in the demand from the industrial & manufacturing sectors in countries including the UK and Germany is also contributing to the market growth. Increasing prices of new equipment are further encouraging the shift toward renting advanced crane models.
The Europe crane rental market is anticipated to witness a slowdown in 2020. Factors contributing to the sluggish growth include temporary halt of major construction projects and rising financial insecurities among crane rental service providers. The crane OEMs are also facing several supply chain challenges such as shortage of raw material and labor, causing delays in fulfilling orders. Stringent government regulations on international trade and restrictions on movement are also hampering the industry growth during the COVID-19 pandemic.
The adoption of mobile cranes is anticipated to increase due to the infrastructure development and expansion of cement plants. The construction & transportation sectors are the major segments contributing to the increasing usage of mobile cranes on many on-going private and public infrastructure development projects. These cranes are used for lifting & unloading materials and allow workers & materials to reach areas that are difficult to access. The rising demand for cranes in the infrastructure development processes and factors, such as rapid industrialization and warehousing, will propel the demand for rental mobile cranes in Europe.
Key companies operating in the market 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 companies are focusing on expansion of their crane rental fleet to cater to the growing customer demand. For instance, in September 2018, AW Leil Cranes & Equipment added a 115-ton truck crane to its crane rental fleet to cater to a wide range of applications in construction, transportation, and utility industries.
Europe 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 Size, 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 Share, By Application
- Construction & mining
- Oil & gas
The above information is provided on a country basis for the following: