+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Tower Crane Market Report and Forecast 2024-2032

  • PDF Icon

    Report

  • 165 Pages
  • December 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921503
According to the report, the global tower crane market is projected to grow at a CAGR of 4.5% between 2024 and 2032 reaching a value of approximate USD 78.9 billion by 2032. Aided by the surging urbanisation, expansive infrastructural projects, and technological advancements in construction methodologies, the market is expected to grow significantly by 2032.

Tower cranes, an indispensable component in contemporary construction sites, are designed to lift and transport heavy materials and equipment with remarkable precision. Characterised by their towering height and pivotal ability to reach otherwise inaccessible areas, these cranes play a pivotal role in the timely and efficient completion of high-rise buildings and large-scale projects. Their ability to operate in constrained spaces further cements their importance in densely populated urban regions.

The burgeoning tower crane market demand is intimately linked with the ongoing global trend of urbanisation. As more individuals migrate to urban areas in search of better opportunities, the need for vertical construction - high-rise apartments, office complexes, and malls - amplifies. Tower cranes, with their vertical and horizontal reach, become the construction tool of choice to meet these urban infrastructural demands.

Simultaneously, the push for smart cities and large-scale infrastructure projects in emerging economies has fostered a conducive environment for the tower crane market growth. Mega projects such as highways, bridges, and dams necessitate the use of these cranes, ensuring their steady demand.

Technological innovations in the realm of tower cranes have been transformative. Modern tower cranes, often integrated with digital systems, sensors, and automation, offer enhanced safety, efficiency, and precision. Features such as real-time load monitoring, wind speed detection, and remote operability have not only improved operational efficiency but also significantly mitigated on-site risks.

Furthermore, sustainability trends are also influencing tower crane design and operations. Energy-efficient cranes, as well as those that utilise renewable energy sources, are seeing heightened demand, especially in regions with stringent environmental regulations.

Regionally, the Asia Pacific, led by nations like China and India, accounts for a significant portion of the tower crane market share. Rapid urbanisation, governmental infrastructural initiatives, and expanding real estate sectors in these nations are pivotal to this dominance. However, regions like North America and Europe, with their focus on infrastructural redevelopment and sustainability, present significant growth opportunities.

Market Segmentation

The market can be divided based on type, lifting capacity, end-user industry, and region.

Market Breakup by Type

  • Hammerhead
  • Luffing Jib
  • Flat Top
  • Self-erecting

Market Breakup by Lifting Capacity

  • Less than 5 ton
  • 6 to 10 ton
  • More than 10 ton

Market Breakup by End-User Industry

  • Infrastructural Construction
  • Energy
  • Building Construction
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tower crane market. Some of the major players explored in the report are as follows:
  • Yongmao Holdings Limited
  • The Manitowoc Company, Inc
  • Liebherr-International Deutschland GmbH
  • Terex Corporation
  • WOLFFKRAN Group
  • Mammoet Group
  • Sarens n.v./s.a.
  • Zoomlion Heavy Industry Science&Technology Co., Ltd.
  • Lampson International LLC
  • Deep South Crane & Rigging, LLC
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Tower Crane Market Analysis
8.1 Key Industry Highlights
8.2 Global Tower Crane Historical Market (2018-2023)
8.3 Global Tower Crane Market Forecast (2024-2032)
8.4 Global Tower Crane Market by Type
8.4.1 Hammerhead
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Luffing Jib
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Flat Top
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Self-erecting
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 Global Tower Crane Market by Lifting Capacity
8.5.1 Less than 5 ton
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 6 to 10 ton
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 More than 10 ton
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.6 Global Tower Crane Market by End-User Industry
8.6.1 Infrastructural Construction
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Energy
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Building Construction
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Tower Crane Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America Tower Crane Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Tower Crane Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Tower Crane Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Tower Crane Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Tower Crane Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code- 842620)
15.1 Major Exporting Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Importing Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Yongmao Holdings Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 The Manitowoc Company, Inc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Liebherr-International Deutschland GmbH
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Terex Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 WOLFFKRAN Group
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Mammoet Group
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Sarens n.v./s.a.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Zoomlion Heavy Industry Science&Technology Co., Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Lampson International LLC
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Deep South Crane & Rigging, LLC
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Industry Events and Developments
List of Key Figures and Tables
1. Global Tower Crane Market: Key Industry Highlights, 2018 and 2032
2. Global Tower Crane Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Tower Crane Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Tower Crane Historical Market: Breakup by Lifting Capacity (USD Million), 2018-2023
5. Global Tower Crane Market Forecast: Breakup by Lifting Capacity (USD Million), 2024-2032
6. Global Tower Crane Historical Market: Breakup by End-user Industry (USD Million), 2018-2023
7. Global Tower Crane Market Forecast: Breakup by End-user Industry (USD Million), 2024-2032
8. Global Tower Crane Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Tower Crane Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Tower Crane Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Tower Crane Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Tower Crane Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Tower Crane Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Tower Crane Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Tower Crane Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Tower Crane Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Tower Crane Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Tower Crane Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Tower Crane Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Tower Crane Market Structure

Companies Mentioned

  • Yongmao Holdings Limited
  • The Manitowoc Company Inc
  • Liebherr-International Deutschland GmbH
  • Terex Corporation
  • WOLFFKRAN Group
  • Mammoet Group
  • Sarens n.v./s.a.
  • Zoomlion Heavy Industry Science&Technology Co. Ltd.
  • Lampson International LLC
  • Deep South Crane & Rigging LLC

Methodology

Loading
LOADING...