Tower Crane Market to Reach USD $8.14 Billion by 2029 at 6.4% CAGR

The Business Research Company

The Business Research Company’s Tower Crane Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2025 /EINPresswire.com/ -- How Big Is The Tower Crane Market In 2025?
In recent times, the tower crane market has experienced significant growth. It is projected to escalate from $5.96 billion in 2024 to $6.36 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. The dramatic surge in the historic phase can be linked to factors such as the rise of urbanization, increased demand for skyscraper construction, growth in infrastructure development, industrialization upswing, and a boost in construction activities within developing economies.

Significant expansion is anticipated in the tower crane market in the forthcoming years, which will surge to a valuation of $8.14 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%. This development during the projection period can be linked to the increasing number of smart city initiatives, the growth of renewable energy projects, the intensifying attention on modular construction, extensive modernisation of infrastructure investments and the escalating requirement for high-capacity lifting solutions. Key trends during this prediction period encompass progresses in remote control mechanisms, the evolution in electric tower cranes, refinements in crane automation systems, headway in lightweight materials, and the advancement of telematics and fleet management solutions.

Download a free sample of the tower crane market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=27642&type=smp

What Are The Key Driving Factors For The Growth Of The Tower Crane Market?
The surge in construction activities is projected to propel the tower crane market's expansion in the future. Such activities, which involve the creation, modification, or assembly of buildings, infrastructure, or other physical entities, are on the rise due to swift urbanization. The growing urban populations are generating a growing need for residential, commercial, and infrastructural developments. Tower cranes significantly contribute to such projects as they allow for the efficient lifting and transportation of heavy materials to great heights, thus hastening the construction process and improving productivity at the site. For example, in August 2025, the Census Bureau reported that the seasonally adjusted annual rate for public construction spending in June came to about $514.3 billion, indicating a 0.1% (±1.6%) uptick from the revised May estimate of $513.7 billion. Hence, the escalating volume of construction activities is the primary driving force for the upswing in the tower crane market.

Who Are The Key Players In The Tower Crane Industry?
Major players in the Tower Crane Global Market Report 2025 include:
• Liebherr Group
• Xuzhou Construction Machinery Group Co. Ltd.
• Sany Heavy Industry Co. Ltd.
• Zoomlion Heavy Industry Science & Technology Co. Ltd.
• Terex Corporation
• Palfinger AG
• The Manitowoc Company Inc.
• Tadano Ltd.
• Shandong Hongda Construction Group Co. Ltd.
• Action Construction Equipment Ltd.

What Are The Upcoming Trends Of Tower Crane Market In The Globe?
Leading businesses in the tower crane market are prioritizing the development of sophisticated technologies like the T-Torque inverter technology. This technology enhances operator command, boosts effective lifting, and offers safe and accurate heavy load management on construction sites. The T-Torque inverter system is a crane control technology that lets operators fine-tune torque, thereby boosting lifting efficiency, energy usage, and operational safety. For example, Terex Corporation, an American tech company, launched the CTL 702-32 in January 2025. This high-performance luffing jib tower crane is specially engineered for heavyweight lifting in tightly packed cities and massive infrastructural project sites. It boasts a top load capacity of 32 tons and an ultimate jib length of 70 meters, providing precision and power in crowded areas. The crane comes equipped with advanced load moment control, modular assembly, and digital interfaces for productive operation and monitoring.

What Segments Are Covered In The Tower Crane Market Report?
The tower crane market covered in this report is segmented
1) By Type: Hammerhead Cranes, Flat Top Cranes, Luffing Jib Cranes, Self-Erecting Cranes
2) By Fuel Type: Electric, Diesel, Hybrid
3) By Capacity: Up To 5 Tons, 6–10 Tons, 11–20 Tons, 21–50 Tons, Above 50 Tons
4) By Sales Channel: Direct Sales, Distributors, Online Sales, Rental Services
5) By End-user: Infrastructure, Construction, Energy And Power, Other End-Users

Subsegment:
1) By Hammerhead Cranes: Fixed Hammerhead Cranes, Traveling Hammerhead Cranes
2) By Flat Top Cranes: Stationary Flat Top Cranes, Mobile Flat Top Cranes
3) By Luffing Jib Cranes: Fixed Luffing Jib Cranes, Mobile Luffing Jib Cranes
4) By Self-Erecting Cranes: Trailer Mounted Self-Erecting Cranes, Crawler Mounted Self-Erecting Cranes

View the full tower crane market report:
https://www.thebusinessresearchcompany.com/report/tower-crane-global-market-report

Which Region Is Expected To Lead The Tower Crane Market By 2025?
In 2024, the Asia-Pacific region led the global market for tower cranes, and it is predicted to maintain the highest growth rate in the upcoming period. The Tower Crane Global Market Report 2025 includes regions such as the Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.

Browse Through More Reports Similar to the Global Tower Crane Market 2025, By The Business Research Company
Cranes Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/cranes-global-market-report

Mobile Cranes Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/mobile-cranes-global-market-report

Stacker Crane Global Market Report 2025
https://www.thebusinessresearchcompany.com/report/stacker-crane-global-market-report

Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: saumyas@tbrc.info
The Business Research Company - www.thebusinessresearchcompany.com

Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

Oliver Guirdham
The Business Research Company
+44 7882 955267
info@tbrc.info
Visit us on social media:
LinkedIn
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.