Australia Mobile Cranes Rental Market Size
| 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 |
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.
Australia Mobile Cranes Rental Market Trends
All-Terrain Cranes have significant demand in Construction industry
- All-terrain cranes are witnessing significant demand in the construction industry as such cranes allow easy movement on any surface, such as dirt, sand, gravel, and others. All-terrain allows full reachability during lifting jobs.
- All-terrain cranes have high lifting capacities ranging from more than 50 tones. Such cranes are used for remote construction sites with no road access, such as the oil and gas industry. The oil and gas industry contributes around 3% to Australia's Gross domestic product (GDP). Australia is investing in liquefied natural gas projects and becoming the largest exporter of liquified natural gas.
- All-terrain cranes provide several benefits for crane rentals, such as increased operability and flexibility in all terrains, which positively influence the industry value. Such cranes can operate in challenging locations, which further boosts the demand for such cranes. All-terrain cranes enhance operational functions and move materials around more efficiently than other cranes, which is likely to propel the demand for all-terrain cranes across the rental industry.
- The Australian government is planning to invest an amount of USD 600 billion in the next 10 years for development. The government has planned 103 initiatives in the upcoming 10 years. Population growth offers economic opportunities for the development of infrastructure. The Crane index of Australia is 735, a record high (Sydney 342, Melbourne 157, Brisbane 67, Perth 33, Gold Coast 23, Canberra 17, Adelaide 15). This will open opportunities for the rental construction equipment market as businesses prefer rental to owing equipment due to uncertainty of the growth of construction business and government investment.
Rising Infrastructure development and Construction Activities
- Infrastructure spending by the Australian Government and private players in the country has witnessed a notable rise over the past few years, thereby pushing the demand for machinery and equipment in the construction sector.
- The pipeline of projects funded by the public sector in Australia is robust. In major cities and along important freight and transportation routes in Northern Australia, the country has planned major road, rail, airport, energy, and social infrastructure construction projects.
- Major infrastructure projects will receive A$ 17.9 billion (USD 11.7 billion) over a ten-year period from the federal budget for 2022-23, including billions for national road and rail projects. Between 2021 and 2025, it is anticipated that major public infrastructure investments will total more than A$218 billion (USD 142.3 billion).
- The WestConnex 33-kilometer traffic motorway in NSW, which will cost A$16.8 billion (USD 10.97 billion) and be completed in 2023, and Sydney Metro, which will be the nation's first fully automated metro rail system and Australia's largest public transportation project, are two of Australia's largest infrastructure projects. Another major project in progress is the Melbourne Metro Tunnel, which will let half a million more people use the train system every week during peak times.
- Though there was a moderate slowdown in the construction sector owing to the pandemic, the development of infrastructure across the country is anticipated to offer tremendous opportunities to construction machinery manufacturers to increase their revenues, as equipment plays a vital role in these activities. Moreover, the country is witnessing significant foreign direct investment (FDI) in the construction sector.
- Growing government initiatives and its significant support for ongoing projects are expected to further propel the demand for construction machinery in Australia. For instance, In May 2021, the Australian Government announced an additional USD 11.3 billion for infrastructure projects in its Federal Budget. This includes new funding to progress 15 early-stage investment opportunities.
- In addition, an increase in the number of power projects, highways, and manufacturing will further widen the scope of the market in the country. For instance, Australia's 2021 infrastructure priority list identifies a record 163 major infrastructure proposals broken down into Priority Projects, High Priority Initiatives, and Priority Initiatives. This Infrastructure Priority List (IPL) is a prioritized list of nationally significant investments detailing major proposals to boost the Australian economy.
Australia Mobile Cranes Rental Industry Overview
Australia Mobile Crane Rental Market is fragmented among several players such as Brooks Hire, Onsite Rental Group, Cranecorp Australia, Freo, Titan Group of Companies, and many others. Growing merger and acquisition for the expansion of business across the country is likely to witness major growth in the market during the forecast period. For instance,
In November 2021, Cranecorp purchased a TIDD 28T Pick and Carry Crane. With a 28-tonne lift capacity and advanced protection features. The TIDD was designed with safety and driver comfort in mind, protection from rollovers, systems for managing tires onboard, and seats with air suspension to reduce operator fatigue.
Australia Mobile Cranes Rental Market Leaders
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Onsite Rental Group Ltd
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Brooks Hire Sevice Pvt Ltd
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Freo Group
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Cranecorp Australia
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Titan Cranes & Rigging
*Disclaimer: Major Players sorted in no particular order
Australia Mobile Cranes Rental Market News
- January 2023: The first Sany Group SCL 1,000 tonne was delivered in Australia, increasing Sany's capability to provide for the country's vast demand for rental crane services.
- March 2022: Australian loader crane specialist Hyva Pacific acquired Truck Cranes Australia Pty Ltd. Through this acquisition, Hyva will expand its business across South Brisbane, Australia.
Australia Mobile Cranes Rental Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Rising Infrastructure Development and Construction Activities
4.2 Market Restraints
4.2.1 Stringent Safety Norms
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 Product Type
5.1.1 All-Terrain Cranes
5.1.2 Articulated Cranes
5.1.3 Truck Mounted Cranes
5.1.4 Others (Rough Terrain Cranes, etc.)
5.2 Rental Type
5.2.1 Short-Term
5.2.2 Long-Term
5.3 Application
5.3.1 Construction
5.3.2 Mining & Excavation
5.3.3 Marine & Offshore
5.3.4 Industrial
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Onsite Rental Group Ltd
6.2.2 Allcott Hire
6.2.3 Brooks Hire Sevice Pvt Ltd
6.2.4 Porter Group
6.2.5 Kennards Hide
6.2.6 Plantman Equipment
6.2.7 Salmon Earthmoving Services
6.2.8 Preston Hire
6.2.9 Cranecorp Australia
6.2.10 Titan Cranes & Rigging
6.2.11 Freo Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Australia Mobile Cranes Rental Industry Segmentation
Crane is a lifting device that is equipped with ropes, wires, and sheaves to lift and load the material. Mobile Crane rental service is a service that helps customer to rent a crane for short periods. A short period generally ranges from a few hours to a few weeks.
Australia's mobile crane rental market is segmented into product type, rental length, and application. Based on the product type, the market is segmented into all terrain crane, articulated crane, truck mounted crane, and others (rough terrain cranes, etc.). Based on the rental length, the market is segmented into short-term and long-term. Based on the application, the market is segmented into construction, mining & excavation, marine & offshore, and industrial
For each segment, market sizing and forecast have been done on the basis of value (USD).
| Product Type | |
| All-Terrain Cranes | |
| Articulated Cranes | |
| Truck Mounted Cranes | |
| Others (Rough Terrain Cranes, etc.) |
| Rental Type | |
| Short-Term | |
| Long-Term |
| Application | |
| Construction | |
| Mining & Excavation | |
| Marine & Offshore | |
| Industrial |
Australia Mobile Cranes Rental Market Research FAQs
How big is the Australia Mobile Cranes Rental Market?
The Australia Mobile Cranes Rental Market size is expected to reach USD 352.19 million in 2024 and grow at a CAGR of 4.81% to reach USD 445.44 million by 2029.
What is the current Australia Mobile Cranes Rental Market size?
In 2024, the Australia Mobile Cranes Rental Market size is expected to reach USD 352.19 million.
Who are the key players in Australia Mobile Cranes Rental Market?
Onsite Rental Group Ltd, Brooks Hire Sevice Pvt Ltd, Freo Group, Cranecorp Australia and Titan Cranes & Rigging are the major companies operating in the Australia Mobile Cranes Rental Market.
What years does this Australia Mobile Cranes Rental Market cover, and what was the market size in 2023?
In 2023, the Australia Mobile Cranes Rental Market size was estimated at USD 335.25 million. The report covers the Australia Mobile Cranes Rental Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Mobile Cranes Rental Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Australia Mobile Cranes Rental Industry Report
The report on the Australia Mobile Cranes Rental Market provides a comprehensive industry analysis, highlighting key market trends and growth rate. The market overview includes detailed market segmentation by product type, rental length, and application. The market size and market share are evaluated to understand the market value and market growth. The industry report offers insights into market leaders and their strategies, supported by industry statistics and market data.
The market forecast and market predictions are presented to give a clear market outlook and industry outlook for the coming years. The industry research covers various applications such as construction, mining & excavation, marine & offshore, and industrial sectors. The report also includes a market review and market analysis, focusing on the market's historical performance and future prospects.
Industry information and industry reports are provided to give a thorough understanding of the market dynamics. The report example and report pdf are available for further reference. The research companies involved in the study have ensured the accuracy and reliability of the data presented. The industry size and industry sales are discussed in detail, along with the industry's overall performance and potential challenges. The market trends and industry trends are analyzed to identify growth opportunities and market drivers.
Australia Mobile Cranes Rental Market Report Snapshots
