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The crane rental market size is forecast to increase by USD 11.9 billion, at a CAGR of 4.37% between 2023 and 2028. The market is experiencing significant growth due to the expansion of end-user industries, particularly in the construction sector, driven by urbanization. This trend is expected to continue as urbanization progresses in developing economies. Another key trend is the development of autonomous cranes, which offer increased efficiency and safety benefits. Mobile cranes are increasingly being used in construction sites for material handling and lifting heavy loads, while fixed cranes are preferred for heavy lifting equipment needs in manufacturing, ship loading, and telecommunication. However, the market faces challenges such as the shortage of skilled workers in the construction industry, which may hinder market growth. Additionally, the high initial investment required for crane rental companies to purchase and maintain modern, efficient cranes can pose a barrier to entry for new players in the market. Despite these challenges, the market is poised for growth as the demand for construction projects continues to rise.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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