Crane Rental Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is poised to account for largest revenue share of 43% by 2037. The landscape's tremendous growth in the region is expected to credit a surge in urbanization and increasing demand for manufacturing & construction activities along with infrastructure development. According to the UN-Habitat, it is projected that the urban population in Asia Pacific will grow by 50% by 2050.
China's ever-growing economy and rapid industrialization are expected to fuel the crane rental market demand. According to a report, it is projected that by 2035 the urbanization rate of China will cross 78%, estimated to be 66% in 2023.
North American Market Analysis
North America crane rental market is estimated to account for substantial share by 2037 attributed to the increasing demand for the construction sector.
The growth in infrastructure projects, commercial structures, housing complexes, and many more is expected to grow the demand for the crane rental sector in the United States. According to the U.S. Department of Treasury, as the income increases, it is expected that there will be more infrastructure per capita investments as compared to lower-income states.
