Self-Erecting Tower Cranes Market to Hit $1.35 Bn by 2031: The Insight Partners
The global self-erecting tower cranes market is poised for significant growth, with projections indicating a surge to $1.35 billion by 2031, according to a new comprehensive report from The Insight Partners. This remarkable expansion is driven by an increase in construction activities worldwide, rapid urbanization, and rising investments in both public and private infrastructure projects.
Self-erecting cranes are commonly used in small to medium-scale construction projects, offering several advantages. These cranes improve productivity by delivering materials directly to the required location, reducing labor costs. Additionally, they occupy a smaller footprint and can serve multiple functions at construction sites. By reducing the need for additional vehicles and minimizing the time spent on material handling, self-erecting cranes enhance site safety and lower operational costs.
Given the high purchase cost, many key players are offering self-erecting cranes on a rental basis. This has further driven demand, particularly in developing countries, where the cranes’ affordability compared to traditional tower cranes makes them a more attractive option. The growing demand for these cranes is expected to continue as construction activity expands globally.
