Self Erecting Tower Cranes Market Size, Trends and Growth Analysis by 2027

The self-erecting tower cranes market is anticipated to grow from US$ 1.65 billion in 2023 to US$ 1.04 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.0% during the period from 2023 to 2031.

These cranes are essential for lifting heavy loads, and the primary material used in their construction is high-strength low-alloy (HSLA) steel. This material is favored due to its ease of welding and low carbon content, which enhances durability. In addition to steel, manufacturers often incorporate elements such as chromium, titanium, and nickel to further strengthen the cranes. Typically, crane manufacturers source steel hollow tubes and long steel rods from suppliers, which are then utilized in the assembly of the final product. Once constructed, the cranes undergo rigorous quality testing to ensure compliance with established industry standards.

In addition to the structural materials, various electrical components are integral to the efficient operation of self-erecting cranes. These components include control systems, wiring, informative displays, sensors, and communication devices. As cranes become increasingly sophisticated, the demand for advanced electrical components continues to rise. Many manufacturers opt to procure these components in a ready-to-install format. After passing quality checks, the cranes are dispatched to distributors or directly to end-users. To optimize costs, many medium and large manufacturers outsource their transportation and logistics to third-party service providers, which helps enhance profitability.

The self-erecting cranes market in the Middle East and Africa is experiencing moderate growth, driven by a surge in construction activities related to smart city development projects, supported by government funding for infrastructure improvements. Various governments in the Middle East are projected to invest over US$ 50 billion in smart city initiatives by 2025. These projects necessitate a wide range of construction equipment, including cranes, tower cranes, and self-erecting cranes. Ongoing investments and government initiatives aimed at infrastructure development are propelling the demand for self-erecting crane products.

In Saudi Arabia, the construction landscape is undergoing significant transformation, influenced by emerging trends and ambitious projects. One notable initiative is The Line, a smart city concept introduced by NEOM near Riyadh in 2020, which involves a staggering investment of US$ 500 billion aimed at redefining urban living and sustainability by 2025. This extensive development will span 170 kilometers and is designed to prioritize sustainability through renewable energy and innovative transportation systems. Such groundbreaking projects are expected to significantly increase the demand for self-erecting cranes in the region.

Key players in the self-erecting tower cranes market include Liebherr International AG, The Manitowoc Co Inc., Terex Corp., FMGru S.r.l, Gruas Saez S.L, Gru Dalbe srl, Tavol Cranes Group Co. Ltd., Dawson Group Ltd., P&J Arcomet, and Action Construction Equipment Limited.

The overall market size for self-erecting tower cranes has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aids in forming an overview and forecast of the self-erecting tower cranes market across various segments. Additionally, numerous primary interviews have been conducted with industry stakeholders and experts to validate the findings and gain deeper analytical insights. Participants in this research include vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the self-erecting tower cranes sector.