Tower Crane Market Growth, Size, Share, Trends, and Forecast 2032

Tower Crane Market Insights

According to the report published by Zion Market Research, the global Tower Crane Market size was valued at USD 5.56 Billion in 2023 and is predicted to reach USD 8.02 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.28% during the forecast period. The report analyzes the global Tower Crane Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Tower Crane Market industry.

Request Free Sample

Tower Crane Market: Overview

In the infrastructural projects, the tower cranes are used for the task of heavy lifting and in other constructional purposes. The developed version of the tower cranes offers the facility of movement from all the directions. Atower crane can do several movements which include jack- operation, self-erection, slewing, wire twisting, self-climbing, climbing frame, smooth hoisting, and trolley movement.

Tower Crane Market: Facts

The leading construction company GEOCON is developing the urban constructions of Canberra. The Jaso cranes are being used by the Australian capital's skyline. The Jaso cranes are the highly advanced version of the tower cranes.

Tower Crane Market: Segmentation

The tower crane market is fragmented into its product type and the application.

Based on the type of the product, the tower crane market is segregated into mobile and fixed. The fixed segment is sub-segregated into stacker crane, loader crane, telescopic crane, hammerhead crane, gantry crane, tower crane, self-erecting tower crane, bulk handling crane, jib crane, deck crane, and level luffing crane. The mobile segment is sub-categorized into truck mounted crane, railroad crane, harbor crane, all terrain crane, carry deck crane, aerial crane, floating crane, side lifter crane, pick and carry crane, crawler crane, and telescopic crane.

Based on the application, the market is categorized into residential, infrastructural, and commercial.

Request Free Sample

Tower Crane Market: Growth Factors

The chief factor that is boosting the growth of the tower crane market is the expanding construction sector. The increasing requirement for the machines that are user-friendly, consume less energy, cost-effective in nature, and have the benefit of effective load carrying capacity is propelling the growth of the tower crane market. As the tower cranes are incorporated with these benefits the opportunities for the market are increasing considerably. The tower cranes are having enhanced safety features coupled with the addition of the programmed logic control technology which increases its demand in the global market. The prominent factor that is fuelling the growth of the tower crane market is the increased rate of operational efficiency. The other features that the tower cranes include are they are user-friendly, large lifting capacity, small swing radius, and requires small operational room thus increasingly preferred by the consumers.

Tower Crane Market: Report Scope

Tower Crane Market: Regional Analysis

The regions such as the Middle East and Africa, Europe, and the North America are having a growing rate of the disposable income which is boosting the infrastructure sector thus increasing the demand for the tower crane market. The increase in the rate of the migration is one of the major reasons that is propelling the growth of the construction sector which, in turn, increases the growth rate of the tower crane market. In Asia Pacific region, the countries such as China and India there is a huge demand for the residential and commercial projects thus augmenting for the increased demand for the tower crane.

Tower Crane Market: Competitive Players

The key market players that are involved in the tower crane market include:

• Sarens n.v./s.a.
• Mediaco
• Maxim Crane Works
• L.P.
• Action Construction Equipment Ltd.
• Liebherr
• Terex Corporation
• GRT Tower Cranes
• Mammoet
• Tiong Woon Corporation Holding Ltd.
• E-Cranes
• Anupam Industries Limited
• Construcciones Metálicas Comansa S.A
• Zoomlion ElectroMech India Pvt. Ltd.

The Global Tower Crane Market is segmented as follows:

By product type 

mobile 

• truck mounted crane
• railroad crane 
• harbor crane 
• all terrain crane
• carry deck crane 
• aerial crane 
• floating crane
• side lifter crane
• pick and carry crane 
• crawler crane 
• telescopic crane

fixed 

• stacker crane 
• loader crane
• telescopic crane 
• hammerhead crane
• gantry crane
• tower crane
• self-erecting tower crane
• bulk handling crane
• jib crane
• deck crane
• level luffing crane

By application 

• residential
• infrastructural
• commercial

Tower Crane Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.