Crane Rental Market

The crane rental market is projected to reach USD 64.8 billion by 2029, at a CAGR of 5.1% from USD 50.6  billion in 2024. The crane rental market is driven by the continuous evolution of urban areas into smart cities, coupled with the swift urbanization observed in developing nations, which increases the demand for residential and commercial constructions, thereby driving the need for crane rentals.

The key players in this market are Liebherr (Germany), United Rentals Inc. (US), Palfinger AG (Austria), Furukawa UNIC Corporation (Japan), Serens N.V.  (Belgium), Mammoet (Netherlands), The Manitowoc Company, Inc.  (US),  Action Construction Equipment Ltd.   (Japan), Maxim Crane Works (US), Manitex International Inc. (US) etc. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and acquisitions.

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United Rentals Inc.

United Rentals Inc. is an equipment rental company that offers a wide array of construction and industrial rental equipment. This includes aerial work platforms, power and HVAC equipment, trench safety equipment, fluid solutions equipment, as well as tools and light equipment for both sale and rent. Established in 1997, United Rentals is headquartered in Stamford, Connecticut, USA.

The company provides a broad spectrum of products and services across different segments. These include utility vehicles, vertical lifts, portable generators, and other general, aerial, and specialty rental equipment. Additionally, United Rentals offers maintenance and repair services, along with online platforms that enable customers to manage and monitor their equipment needs.

United Rentals has a global presence, operating in several countries across North America, Europe, Australia, and New Zealand. It maintains a strong foothold in the United States, Canada, Germany, France, Australia, the Netherlands, Belgium, and the UK. Its rental business is a crucial part of its operations, serving a diverse range of industries such as construction, utilities, municipalities, and homeowners.

Liebherr

Liebherr Group, founded in 1949 by Hans Liebherr in Kirchdorf an der Iller, Germany, is headquartered in Bulle, Freiburg, Switzerland. The company began as a manufacturer of tower cranes and has since grown into one of the world's largest manufacturers of construction machinery and a leading supplier of technical innovations in various industries.

Liebherr operates through multiple business segments including Earthmoving, Mining, Mobile Cranes, Tower Cranes, Concrete Technology, Maritime Cranes, Aerospace and Transportation Systems, Gear Technology and Automation Systems, Refrigeration and Freezing, and Components. This diversification allows Liebherr to offer a broad range of products from construction machinery and cranes to aircraft equipment and domestic appliances.

The company's regional presence spans across Europe, Asia, Africa, Australia, and the Americas, with production plants in countries like Austria, Brazil, China, Germany, France, and the US, among others. Liebherr supplies its cranes for rent globally, particularly in Europe, the US, and Australia, supporting a variety of industries from construction to logistics. As of 2023, Liebherr employs approximately 53,659 people worldwide, emphasizing its significant global footprint.

Palfinger AG

Palfinger AG, headquartered in Bergheim, Austria, was founded in 1932 by Richard Palfinger. Initially established as a repair workshop for agricultural trailers and vehicles, the company has grown into a global leader in the manufacture of hydraulic lifting, loading, and handling systems. With around 12,776 employees, Palfinger operates over 33 manufacturing and assembly sites and has approximately 5,000 sales and service locations in more than 130 countries worldwide.

Mainly Palfinger's extensive product offerings include loader cranes, timber and recycling cranes, marine cranes, wind cranes, and container handling systems. The company also provides truck-mounted forklifts, tail lifts, access platforms, and high-tech railway systems. Additionally, Palfinger produces specialized equipment such as telescopic cranes, bridge inspection units, and various maritime cranes and lifeboats. These products are utilized across multiple industries, including agriculture, construction, railway infrastructure, transport, recycling, wind power, and maritime sector. Regionally, Palfinger has a strong presence in Europe, the Americas, the Middle East and Africa, and the Asia-Pacific regions, underscoring its global footprint and diverse market reach.

The Manitowoc Company, Inc.

Founded in 1902 and headquartered in Manitowoc, Wisconsin, The Manitowoc Company, Inc. is a leading global manufacturer of cranes and lifting solutions. With over a century of expertise, Manitowoc has established itself as a trusted name in the industry, providing innovative products and services to customers worldwide. The Manitowoc Company, Inc.  a prominent global manufacturer of cranes and lifting solutions, announced its definitive agreement to acquire the crane business of H&E Equipment Services, Inc. a major player in the U.S. rental equipment sector.

The company operates through several business segments, including Crane Rental, which forms a significant part of its operations. Through its crane rental business, Manitowoc offers a wide range of lifting equipment to meet the needs of various industries, including construction, energy, and infrastructure. With a strong presence in key markets such as North America, Europe, Asia Pacific, and the Middle East, Manitowoc's crane rental segment provides essential lifting solutions to customers across the globe.

In addition to its crane rental business, Manitowoc boasts a comprehensive geographic presence, with operations spanning across six continents. With manufacturing facilities, service centers, and offices strategically located around the world, Manitowoc is well-positioned to serve its diverse customer base efficiently and effectively. From North America to Asia, and everywhere in between, Manitowoc continues to deliver innovative cranes and lifting solutions to customers worldwide.

Furukawa UNIC Corporation

Furukawa UNIC Corporation, a subsidiary of Furukawa Co., Ltd., manufactures and distributes truck-mounted cranes called UNIC cranes that are commonly used in the construction industry. Furukawa UNIC Corporation is a prominent Japanese manufacturer specializing in the production of hydraulic cranes. Founded in 1946, the company is headquartered in Yokosuka, Kanagawa, Japan. Furukawa UNIC has built a reputation for its robust and innovative crane designs, tailored to meet diverse industry needs, including construction, transportation, and logistics.

Furukawa UNIC operates through several business segments, with a primary focus on the manufacturing and sales of truck-mounted cranes and other hydraulic equipment. Among these segments, the one that specifically caters to crane rentals is the UNIC Cranes segment. This segment deals with providing various types of cranes on a rental basis, which is particularly beneficial for clients who require temporary lifting solutions without the long-term financial commitment of purchasing.

Geographically, Furukawa UNIC has established a significant presence not only in Japan but also internationally. The company has expanded its reach to include various markets in Asia, North America, and Europe, adapting to global demands and regulatory standards. As of the latest reports, Furukawa UNIC employs a skilled workforce that supports its operations worldwide, although specific employee counts are periodically updated in the company's official communications and may vary with market conditions and strategic initiatives. This extensive network and committed employee base enable Furukawa UNIC to efficiently serve a global clientele and maintain its position as a leader in the crane manufacturing and rental industry.

Related Reports:

Crane Rental Market by Type (Mobile, Fixed), End-Use Industry (Building & Construction, Oil & Gas, Marine & Offshore, Mining & Excavation, Transportation), Weightlifting Capacity (Low, Low-Medium, Heavy, Extreme Heavy) & Region - Global Forecast to 2029

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