Crane Rental Market worth $71.50 billion by 2031 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., June 24, 2026 /PRNewswire/ -- According to MarketsandMarkets, "Crane Rental Market by Type (Fixed Cranes, Mobile Cranes), Weightlifting Capacity (Low, Low to Medium, Heavy, Extreme Heavy), End-use Industry (Building & Construction, Infrastructure, Other End-use Industries), and Region - Global Forecast to 2031", The Crane Rental market projected to grow from USD 55.82 billion in 2026 to USD 71.50 billion by 2031, at a CAGR of 5.1% during the forecast period.
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Crane Rental Market Size & Forecast:
- Market Size Available for Years: 2022-2031
- 2026 Market Size: USD 55.82 billion
- 2031 Projected Market Size: USD 71.50 billion
- CAGR (2026-2031): 5.1%
Crane Rental Market Trends & Insights.
- The use of cranes is increasing due to government investment in transportation, energy, and smart cities. The move towards renting rather than ownership helps companies cut down on the cost of capital and maintenance. Due to the increased growth of renewable energy sources, such as wind and solar farms, heavy-lift cranes are in high demand. Fuel-efficient and hybrid cranes are also being introduced with the growing focus on sustainability. Moreover, the increased cooperation between manufacturers and rental companies is boosting the availability of fleets and services.
- Asia Pacific accounted for the largest share of 33.3% of the crane rental market in 2025.
- By type, the mobile cranes segment is expected to dominate the market.
- By weightlifting capacity, the low segment is expected to register the highest CAGR of 5.2% from 2026 to 2031, in terms of value.
- By end-use industry, the building & construction segment is expected to dominate the overall market.
- The market is driven by strategic product launches, acquisitions, partnerships, agreements, and expansions from leading players such as Liebherr (Germany), United Rentals Inc. (US), PALFINGER AG (Austria), Sarens NV (Belgium), Mammoet (Netherlands), and The Manitowoc Company, Inc. (US). These companies are focusing on geographic diversification alternatives to grow.
- Weldex (International) Offshore Ltd., VMS Equipment, Daikyo Kenki Co., Ltd., and Shinsei Machinery Co., Ltd., among others, have distinguished themselves among startups and SMEs and are focused on specialized lifting solutions, fleet modernization, and customer-centric service.
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The crane rental market is expected to grow due to the rapid expansion of construction, infrastructure, and energy projects across the globe. Companies would rather hire cranes to save on high ownership and maintenance expenses. The efficiency and safety of cranes are being enhanced through technological developments such as automation.
By type, the mobile cranes segment accounted for a significant market share in 2025.
The mobile cranes segment is the most rapidly expanding in the overall crane rental market due to its versatility and ease of transportation. They can work with diverse lifting work in construction, industrial, and maintenance work. These cranes are flexible and efficient and hence preferred by contractors and rental companies.
The heavy segment is expected to record the second-fastest CAGR during the forecast period.
The heavy weightlifting capacity segment is expected to record the second-fastest CAGR during the forecast period as the size of construction and energy projects increases. They are needed for moving heavy materials in the oil & gas, wind energy, and mining sectors. To cater to the demand for special cranes in construction projects, rental companies are increasing their fleet of large-capacity cranes.
The infrastructure segment is expected to record the second-fastest CAGR during the forecast period.
By end-use industry, the infrastructure segment is projected to witness the second-highest CAGR in the overall crane rental market during the forecast period. Bridges, highways, ports, and power plants require cranes to be constructed. Governments are heavily investing in the development of the infrastructure. The result of this constant supply chain of massive undertakings is fueling the demand for heavy-lifting equipment.
The Middle East & Africa is expected to record the second-fastest CAGR during the forecast period.
The Middle East & Africa is expected to record the second-highest CAGR during the forecast period due to significant infrastructure, oil & gas, and renewable energy expansions. The demand is being pushed by countries such as Saudi Arabia and the UAE due to massive urbanization and Vision 2030 projects. The increase in road and airport construction is also enhancing crane rentals in the area.
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Key Players
The crane rental market comprises major players, such as Liebherr (Germany), United Rentals Inc. (US), PALFINGER AG (Austria), Sarens NV (Belgium), Mammoet (Netherlands), and The Manitowoc Company, Inc. (US). Product launches, partnerships, acquisitions, and expansions are major strategies these key players adopt to enhance their positions in the crane rental market.
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