Product Code: 3155
The global tower crane industry is poised to record substantial growth over the forecast years 2022 to 2030. Rapid expansion of urban infrastructure would be a key factor driving the demand for tower cranes. Emerging countries such as China, and India are witnessing a rise in population and the need for residential spaces. New urban development projects have enabled the construction of high-rise buildings that require safe and efficient handling/lifting of building materials. Such activities will encourage the large-scale deployment of tower cranes by contractors.
A shift towards sustainable technologies to reduce greenhouse gas (GHG emissions) will encourage tower crane companies to develop new equipment models. For instance, in June 2022, Australian crane rental agency, Marr Contracting replaced fossil diesel with 100% renewable diesel, known as HVO100, from Neste to power its heavy lift luffing tower crane fleet in the country. Marr aims to reduce climate emissions by up to 90% over the fuel's life cycle.
The global tower crane market is classified into product, design, capacity, application, and region.
Based on product, the industry is fragmented into self-erecting tower cranes, hammerhead cranes, flat-top tower cranes, and luffing jib tower cranes. Among these, the flat-top tower cranes segment accounted for more than 20% of the market share in 2021. These cranes are gaining popularity due to their safe and user-friendly features.
Flat-top-tower cranes are an ideal fit for sites with height restrictions and ensure faster erection due to fewer jib interferences. This helps operators to cut down on costs. Additionally, these cranes have a movable cab along with a compact head.
In terms of design, the tower crane market is divided into top-slewing cranes and bottom-slewing cranes. The industry share from top-slewing cranes is anticipated to witness over 7% CAGR between 2022-2030. Widespread demand for top-slewing cranes in the construction and utility sectors can be credited to their ability to efficiently carry and transfer heavy or bulk loads and construction materials.
By capacity, the above 80 metric ton capacity tower cranes segment is anticipated to hold over 9% share of the tower crane market by 2030. Super-large tower cranes are required across complex infrastructures and coastal line construction projects. In October 2021, Zoomlion, Chinese equipment manufacturer, rolled out a 450-ton tower crane, W12000-450, which was claimed to be the largest top-slewing tower crane in the world.
With respect to application, the tower crane industry is segregated into utility, mining, rental, shipyards, and construction. The market share from the mining application segment is expected to exhibit over 4% CAGR from 2022-2030. Tower crane deployment across remote mining sites helps companies regulate operations in a safe, and hassle-free manner. Integration of next-generation technologies such as 3D modeling capabilities will foster the introduction of innovative tower cranes for mining sectors.
Europe tower crane market share is poised to reach over 30% by 2030. Rapid industrialization and urbanization across European countries along with increasing efforts to support innovation in the field of heavy machinery will complement the regional market outlook. Increasing demand for bulk lifting machinery in the utility, mining, construction, and power sectors will influence the demand for tower cranes in Europe.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Scope & definitions
- 1.2 Methodology and forecast parameters
- 1.3 COVID-19 impact
- 1.3.1 North America
- 1.3.2 Europe
- 1.3.3 Asia Pacific
- 1.3.4 Latin America
- 1.3.5 MEA
- 1.4 Data Sources
- 1.4.1 Secondary
- 1.4.2 Primary
- 1.5 Glossary
Chapter 2 Executive Summary
- 2.1 Tower crane industry 360 degree synopsis, 2018- 2030
- 2.1.1 Business trends
- 2.1.1.1 Total Addressable Market (TAM), 2023 - 2030
- 2.1.2 Regional trends
- 2.1.3 Product trends
- 2.1.4 Design trends
- 2.1.5 Lifting capacity trends
- 2.1.6 Application trends
Chapter 3 Tower crane industry Insights
- 3.1 Introduction
- 3.2 Impact of COVID-19 outbreak
- 3.2.1 North America
- 3.2.2 Europe
- 3.2.3 Asia Pacific
- 3.2.4 Latin America
- 3.2.5 MEA
- 3.3 Impact of Russia-Ukraine conflict
- 3.4 Tower crane industry ecosystem analysis
- 3.4.1 Raw material suppliers
- 3.4.2 Component suppliers
- 3.4.3 Manufacturers
- 3.4.4 Software/technology providers
- 3.4.5 Distribution channel analysis
- 3.4.6 End-use landscape
- 3.4.7 Profit margin analysis
- 3.4.8 Vendor matrix
- 3.5 Technology & innovation landscape
- 3.5.1 Autonomous Tower cranes
- 3.5.2 Anti-collision systems
- 3.6 Regulatory landscape
- 3.6.1 North America
- 3.6.2 Europe
- 3.6.3 Asia Pacific
- 3.6.4 Latin America
- 3.6.5 MEA
- 3.7 Industry impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Increasing high-rise building activities across the globe
- 3.7.1.2 Accelerating crane rental demand in North America & Asia Pacific
- 3.7.1.3 Utilization of heavy equipment at port and shipyards globally
- 3.7.1.4 Presence of several tower crane manufacturers in Europe
- 3.7.1.5 Recovering construction sector in Latin America
- 3.7.1.6 Development of urban infrastructure in South Africa and India
- 3.7.1.7 High demand for tower cranes from the MEA utility sector
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Lack of skilled operators
- 3.7.2.2 High cost of tower cranes
- 3.7.2.3 Operational challenges due to environmental changes
- 3.8 Key initiatives & news
- 3.9 Patent analysis
- 3.10 Price trend analysis
- 3.11 Growth potential analysis
- 3.12 Porter's analysis
- 3.12.1 Bargaining power of suppliers
- 3.12.2 Bargaining power of buyers
- 3.12.3 Threat of new entratnt
- 3.12.4 Threat of substitute
- 3.13 PESTEL analysis
- 3.13.1 Political
- 3.13.2 Economical
- 3.13.3 Social
- 3.13.4 Technological
- 3.13.5 Legal
- 3.13.6 Environmental
Chapter 4 Competitive Landscape, 2021
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competive analysis of major market players
- 4.3.1 The Manitowoc Company
- 4.3.2 Liebherr Group
- 4.3.3 Terex Corporation
- 4.3.4 Sany Group
- 4.3.5 Zoomlion Heavy Industry Science and Technology Co., Ltd.
- 4.4 Competive analysis of prominent market players
- 4.4.1 Jaso Industrial Tower cranes
- 4.4.2 Linden Comansa
- 4.4.3 XCMG Group
- 4.4.4 Wolffkran
- 4.5 Vendor adoption matrix
- 4.6 Strategic outlook matrix
Chapter 5 Tower Crane Market, By Product
- 5.1 Flat top
- 5.1.1 Market estimates and forecast, 2018- 2030
- 5.2 Hammerhead
- 5.2.1 Market estimates and forecast, 2018- 2030
- 5.3 Luffing jib
- 5.3.1 Market estimates and forecast, 2018- 2030
- 5.4 Self-erecting
- 5.4.1 Market estimates and forecast, 2018- 2030
Chapter 6 Tower Crane Market, By Design
- 6.1 Top slewing
- 6.1.1 Market estimates and forecast, 2018- 2030
- 6.2 Bottom slewing
- 6.2.1 Market estimates and forecast, 2018- 2030
Chapter 7 Tower Crane Market, By Lifting Capacity
- 7.1 Below 5 metric tons
- 7.1.1 Market estimates and forecast, 2018- 2030
- 7.2 6 to 20 metric tons
- 7.2.1 Market estimates and forecast, 2018- 2030
- 7.3 21 to 50 metric tons
- 7.3.1 Market estimates and forecast, 2018- 2030
- 7.4 51 to 80 metric tons
- 7.4.1 Market estimates and forecast, 2018- 2030
- 7.5 Above 80 metric tons
- 7.5.1 Market estimates and forecast, 2018- 2030
Chapter 8 Tower Crane Market, By Application
- 8.1 Rental
- 8.1.1 Market estimates and forecast, 2018- 2030
- 8.2 Construction
- 8.2.1 Market estimates and forecast, 2018- 2030
- 8.3 Mining
- 8.3.1 Market estimates and forecast, 2018- 2030
- 8.4 Shipyards
- 8.4.1 Market estimates and forecast, 2018- 2030
- 8.5 Utility
- 8.5.1 Market estimates and forecast, 2018- 2030
- 8.5.1.1 Market estimates and forecast, 2018- 2030
Chapter 9 Tower crane Market, By Region
- 9.1 Key trends by region
- 9.2 North America
- 9.2.1 Market estimates and forecast, by product, 2018- 2030
- 9.2.2 Market estimates and forecast, by design, 2018- 2030
- 9.2.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.2.4 Market estimates and forecast, by application, 2018- 2030
- 9.2.5 U.S.
- 9.2.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.2.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.2.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.2.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.2.6 Canada
- 9.2.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.2.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.2.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.2.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.3 Europe
- 9.3.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.4 Market estimates and forecast, by application, 2018- 2030
- 9.3.5 UK
- 9.3.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.3.6 Germany
- 9.3.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.3.7 France
- 9.3.7.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.7.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.7.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.7.4 Market estimates and forecast, by application, 2018- 2030
- 9.3.8 Italy
- 9.3.8.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.8.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.8.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.8.4 Market estimates and forecast, by application, 2018- 2030
- 9.3.9 Russia
- 9.3.9.1 Market estimates and forecast, by product, 2018- 2030
- 9.3.9.2 Market estimates and forecast, by design, 2018- 2030
- 9.3.9.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.3.9.4 Market estimates and forecast, by application, 2018- 2030
- 9.4 Asia Pacific
- 9.4.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.4 Market estimates and forecast, by application, 2018- 2030
- 9.4.5 China
- 9.4.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.4.6 India
- 9.4.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.4.7 Japan
- 9.4.7.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.7.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.7.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.7.4 Market estimates and forecast, by application, 2018- 2030
- 9.4.8 South Korea
- 9.4.8.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.8.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.8.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.8.4 Market estimates and forecast, by application, 2018- 2030
- 9.4.9 Southeast Asia
- 9.4.9.1 Market estimates and forecast, by product, 2018- 2030
- 9.4.9.2 Market estimates and forecast, by design, 2018- 2030
- 9.4.9.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.4.9.4 Market estimates and forecast, by application, 2018- 2030
- 9.5 Latin America
- 9.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.5.5 Brazil
- 9.5.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.5.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.5.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.5.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.5.6 Mexico
- 9.5.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.5.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.5.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.5.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.6 MEA
- 9.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.6.5 UAE
- 9.6.5.1 Market estimates and forecast, by product, 2018- 2030
- 9.6.5.2 Market estimates and forecast, by design, 2018- 2030
- 9.6.5.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.6.5.4 Market estimates and forecast, by application, 2018- 2030
- 9.6.6 Saudi Arabia
- 9.6.6.1 Market estimates and forecast, by product, 2018- 2030
- 9.6.6.2 Market estimates and forecast, by design, 2018- 2030
- 9.6.6.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.6.6.4 Market estimates and forecast, by application, 2018- 2030
- 9.6.7 South Africa
- 9.6.7.1 Market estimates and forecast, by product, 2018- 2030
- 9.6.7.2 Market estimates and forecast, by design, 2018- 2030
- 9.6.7.3 Market estimates and forecast, by lifting capacity, 2018- 2030
- 9.6.7.4 Market estimates and forecast, by application, 2018- 2030
Chapter 10 Company Profiles
- 10.1 Action Construction Equipment Limited
- 10.1.1 Business Overview
- 10.1.2 Financial Data
- 10.1.3 Product Landscape
- 10.1.4 Strategic Outlook
- 10.1.5 SWOT Analysis
- 10.2 Favelle Favco Berhad
- 10.2.1 Business Overview
- 10.2.2 Financial Data
- 10.2.3 Product Landscape
- 10.2.4 Strategic Outlook
- 10.2.5 SWOT Analysis
- 10.3 FMGru srl
- 10.3.1 Business Overview
- 10.3.2 Financial Data
- 10.3.3 Product Landscape
- 10.3.4 Strategic Outlook
- 10.3.5 SWOT Analysis
- 10.4 HanKook Tower Crane Co., Ltd.
- 10.4.1 Business Overview
- 10.4.2 Financial Data
- 10.4.3 Product Landscape
- 10.4.4 Strategic Outlook
- 10.4.5 SWOT Analysis
- 10.5 JASO Industrial Cranes
- 10.5.1 Business Overview
- 10.5.2 Financial Data
- 10.5.3 Product Landscape
- 10.5.4 Strategic Outlook
- 10.5.5 SWOT Analysis
- 10.6 Jost Cranes
- 10.6.1 Business Overview
- 10.6.2 Financial Data
- 10.6.3 Product Landscape
- 10.6.4 Strategic Outlook
- 10.6.5 SWOT Analysis
- 10.7 Liebherr Group
- 10.7.1 Business Overview
- 10.7.2 Financial Data
- 10.7.3 Product Landscape
- 10.7.4 Strategic Outlook
- 10.7.5 SWOT Analysis
- 10.8 Linden Comansa (Construcciones Metalicas Comansa S.A.)
- 10.8.1 Business Overview
- 10.8.2 Financial Data
- 10.8.3 Product Landscape
- 10.8.4 Strategic Outlook
- 10.8.5 SWOT Analysis
- 10.9 The Manitowoc Company, Inc
- 10.9.1 Business Overview
- 10.9.2 Financial Data
- 10.9.3 Product Landscape
- 10.9.4 Strategic Outlook
- 10.9.5 SWOT Analysis
- 10.10 Raimondi Cranes S.p.A.
- 10.10.1 Business Overview
- 10.10.2 Financial Data
- 10.10.3 Product Landscape
- 10.10.4 Strategic Outlook
- 10.10.5 SWOT Analysis
- 10.11 SANY GROUP
- 10.11.1 Business Overview
- 10.11.2 Financial Data
- 10.11.3 Product Landscape
- 10.11.4 Strategic Outlook
- 10.11.5 SWOT Analysis
- 10.12 Terex Corporation
- 10.12.1 Business Overview
- 10.12.2 Financial Data
- 10.12.3 Product Landscape
- 10.12.4 Strategic Outlook
- 10.12.5 SWOT Analysis
- 10.13 WOLFFKRAN International AG
- 10.13.1 Business Overview
- 10.13.2 Financial Data
- 10.13.3 Product Landscape
- 10.13.4 Strategic Outlook
- 10.13.5 SWOT Analysis
- 10.14 Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- 10.14.1 Business Overview
- 10.14.2 Financial Data
- 10.14.3 Product Landscape
- 10.14.4 Strategic Outlook
- 10.14.5 SWOT Analysis
- 10.15 Yongmao Holdings Limited
- 10.15.1 Business Overview
- 10.15.2 Financial Data
- 10.15.3 Product Landscape
- 10.15.4 Strategic Outlook
- 10.15.5 SWOT Analysis
- 10.16 Zhejiang Construction Machinery Group
- 10.16.1 Business Overview
- 10.16.2 Financial Data
- 10.16.3 Product Landscape
- 10.16.4 Strategic Outlook
- 10.16.5 SWOT Analysis
- 10.17 Zoomlion Heavy Industry Science and Technology Co., Ltd.
- 10.17.1 Business Overview
- 10.17.2 Financial Data
- 10.17.3 Product Landscape
- 10.17.4 Strategic Outlook
- 10.17.5 SWOT Analysis