Market Size of Australia Mobile Cranes Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 352.19 Million |
| Market Size (2029) | USD 445.44 Million |
| CAGR (2024 - 2029) | 4.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Mobile Cranes Rental Market Analysis
The Australia Mobile Cranes Rental Market size is estimated at USD 352.19 million in 2024, and is expected to reach USD 445.44 million by 2029, growing at a CAGR of 4.81% during the forecast period (2024-2029).
The impact of the COVID-19 pandemic on the crane rental market was negative. The shutdown of several manufacturing facilities and the halt of investment in the construction sector hindered crane rental services across the country. After a short period of decline, the economy of the country began to rise and encouraged investment in residential and commercial projects. Such a rise in investment across the country witnessed major growth in the market.
Over the medium term, the growing consumer trend toward the crane rental service due to the high purchasing cost of new cranes that require a large amount of capital is likely to witness major growth in the market.
Australia is now encountering an apartment construction boom. The cranes are littering the horizons of Australia's biggest urban communities, especially in inner-city territories. The construction industry holds a significant share of the Australian economy.
Preference for mobile cranes on a rental basis rather than purchasing is increasing due to low cost. This coupling with increasing investment in various construction industries is expected to drive the Australian mobile crane market growth. Australia is witnessing significant infrastructure growth owing to an increase in investment across the country. Infrastructure, such as Social Infrastructure, Transportation Infrastructure, Extraction Infrastructure, and industrial Infrastructure. Such an increase in infrastructure development across the country is creating lucrative opportunities for mobile crane rental services during the forecast period.
With an increasing number of mobile crane rental businesses investing in larger and more mobile cranes for better operational efficiency, the crane rental market is expected to grow in Australia.
