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Global Tower Crane Market Size, Share, Growth, Analysis: By Type: Hammerhead, Luffing Jib, Flat Top, Self-erecting; By Lifting Capacity: Less than 5 ton, 6 to 10 ton, More than 10 ton; By End-User Industry: Infrastructural Construction, Energy, Building Construction, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Tower Crane Market Outlook
The global tower crane market would likely grow at a CAGR of 4.5% during 2024-2032. Tower cranes are extensively used in building projects; the machines are used to lift heavy loads such as concrete and steel. Large devices like generators, motors, and acetylene torches are also moved with the help of tower cranes. Uses of tower cranes include dam construction; bridge construction; civil construction; residential construction; industry, plant, and automation; power plant; railway; marine construction; etc. Asia, North America and Europe are likely to be key markets.
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Global Market Likely to be Driven by Use in Construction Industry
Modern tower cranes enable development companies to work more efficiently, quickly, sustainably and cost-effectively. These heavy-lifting machines are very useful in carrying out arduous tasks. Tower cranes are particularly vital to the construction industry. Uses in construction are expected to boost the global tower crane market.
Tower cranes are commonly used at construction sites across the world; projects requiring heavy lifting at great heights warrant tower cranes. The essential elements of a tower crane include base support (positioned at the tower bottom, generally connected to a concrete pad on the ground; it may also be connected to a ballasted chassis or steel grillage set on ground or atop a present structure), tower (also called mast, it is a vertical component affording the crane its height), turntable (allows the crane arm to rotate), operator’s cab (box in which the operator sits), jib or working arm (supports and positions the lifted load), trolley and hook block (trolley moves front and back across the jib; hook block acts as pulley system enabling the hook to move up and down), counter jib (helps the machine maintain balance), and counterweight (helps balance the load of the lift).
Different Types of Tower Cranes are Used in Different Types of Projects
Different types of tower cranes include Hammerhead Tower Crane, Luffing Jib Crane, and Self-erecting Crane. Appropriate projects for tower crane use include, Multi-Family Housing, Hospitals and Educational Facilities, Parking Garages, Water Treatment Facilities, Mid/High Rise Construction, Industrial Projects, etc. Such uses are expected to boost the global tower crane market.
Tower Cranes are Being Employed in Projects Across the Globe
In 2022, it was reported that Bennetts Cranes took delivery of the first Saez SL 730 – the largest luffing jib model in the Saez tower crane fleet; the machine had a 36,000kg (36 tonne) maximum load. Bennetts was the first hire company in the world to acquire the new model.
In 2021, it was reported that the tallest freestanding luffing jib crane operating in the UK reached final height. Bennetts Cranes increased freestanding crane to 105m for residential development in Fulham. This was seen as the tallest freestanding luffing jib crane in operation in the UK at the time, implying it was not tied to the building.
In 2022, it was reported that BKL was helping in setting up the new Terminal 3 at Fraport in Germany with the help of twelve tower cranes and many mobile crane operations. It was one among Europe’s biggest privately funded infrastructure projects.
In 2022, it was reported that the new Potain MCT 805 (a high-capacity flat top tower crane) would soon be available in Australia, Asia, the Middle East, New Zealand, Africa and Latin America. Nearly twelve Potain cranes were employed to advance the construction of an important residential development in Mamurdi, northwest Pune, Maharashtra.
Market Segmentation
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By type, the global tower crane market is segmented into:
- Hammer head
- Luffing jib
- Flat top
- Self-erecting
By lifting capacity, the market is divided into:
- Less than 5 ton
- 6 to 10 ton
- More than 10 ton
By end user industry, the market is classified into:
- Infrastructural Construction
- Energy
- Building Construction
- Others
By region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Market
The report offers an extensive assessment of major players in the global tower crane market; it evaluates their capability, observes latest occurrences such as mergers and acquisitions, capacity expansions, and plant turnarounds:
- 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
Using SWOT analysis and Porter’s Five Forces model, the EMR report offers deep insights into the industry.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Lifting Capacity |
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| Breakup by End-User Industry |
|
| Breakup by Region |
|
| Market Dynamics |
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| Trade Data Analysis |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 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
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 4.5% in the forecast period of between 2024 and 2032.
The major drivers of the market include the increasing demand for construction machines capable of moving heavy loads, expansion of the construction sector across emerging economies, and growing renovation initiatives.
The growing research and development activities by the manufacturers aimed towards improving the models of tower crane and rapid industrial construction initiatives are the key trends in the market.
Hammerhead, luffing jib, flat top, and self-erecting are the different segments in the tower crane market based on type.
Less than 5 ton, 6 to 10 ton, and more than 10 ton are the different categories based on lifting capacity.
The cost of a tower crane depends upon the radius of the product. For instance, tower cranes of radius 48-60 m can have a price range of between USD 41,000 and USD 48,000.
A tower crane is generally used for mobilising heavy loads in the construction sector. It can anchor loads which are humanly impossible to lift.
The primary end-user industries for tower cranes are infrastructural construction, energy, and building construction, among others.
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