Technavio Predicts Surge in China’s Crane Rental Market

Sept. 30, 2015

2 min read

LiuGong XCMG Zoomlion and Sany are major players in China39s crane rental market — LiuGong, XCMG, Zoomlion and Sany are major players in China's crane rental market.

Despite a slowing in China’s economy, the crane market there is expected to grow at a compounded annual growth rate of almost 16 percent from 2015 through 2019 according to a new report from Technavio. According to the new research report, as of 2014, China’s urban population accounted for 54 percent of the total population. Rapid urbanization has been driving a change in lifestyle, leading to a rise in demand for new houses and infrastructure development such as roads, sewage facilities and transit systems.

“To cater to the needs of the growing urban population, the Chinese government is focusing on urban development projects such as New Urbanization Plan 2014-2020 in major cities like Shanghai and Beijing,” said Faisal Ghaus, vice president of Technavio. “It is predicted that the surge in infrastructure development activities in urban areas will drive the growth market.”

The report emphasizes the significant growth of the crane rental business in China.

“Vendors such as XCMG, Zoomlion, Guangxi LiuGong Machinery, and Sany have started providing equipment on rent,” added Ghaus. “This allows construction companies and SMEs to utilize the equipment without the need for major investments."

The report considered revenue generated from sales of truck cranes, crawler cranes, all-terrains and tire cranes.

For more information, go to: http://www.technavio.com/report/crane-market-in-china-2015-2019.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.