The Rise of Modular Crane Rentals: Top 5 Countries Driving Market Expansion
The revenue growth of market players in these countries is expected to range between 4.4% and 6.4% annually for period 2024 to 2035.
According to a recent research, Industry revenue for Modular Crane Rental is expected to rise to $5.4 billion by 2035 from $2.5 billion of 2023. U.S., Germany, China, Japan and South Korea are the top 5 markets and combinely holds substantial demand share.
Industry transition including shift to electric and hybrid cranes and focus on urban infrastructure development, are transforming the supply chain of Modular Crane Rental market. Rental companies are increasingly adopting hybrid modular cranes in response, to mounting environmental worries and to align with sustainability objectives.
Potential Application Areas
Oil & Gas: Many companies use cranes for setting up pipelines and assembling rigs as well as carrying out maintenance tasks in the field of industry work. Top companies like Mammoet and ALE (which is now, under Mammoets umbrella ) focus on providing lifting equipment for both offshore and onshore ventures
Logistics: Modular cranes are commonly utilized in ports and warehouses for handling loads efficiently and enhancing operational productivity. Konecranes and Sarens are at the forefront of the market with their approaches, in streamlining logistical processes.
Industry Leadership and Strategies
The Modular Crane Rental market is characterized by intense competition, with a number of leading players such as Mammoet, Sarens, Liebherr, Terex Corporation, Konecranes, ALE (Mammoet), Manitowoc Cranes, Tadano Ltd, Sany Group, Zoomlion Heavy Industry, Demag Cranes (now part of Tadano) and XCMG Group. These players are pushing the boundaries of innovation & technological advancements and forging strategic partnerships to expand the existing reach of the market. Below table briefs about adopted market strategies by leading players.
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