Global Tower Crane Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Global Tower Crane Market Size

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.

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 Crane Market Report Snapshots

Tower Crane Market Size

Tower Crane Companies