Crawler Crane Market Outlook
According to a new report by Expert Market Research titled, “Crawler Crane Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global crawler crane market is projected to grow at a CAGR of 5.9% between 2024 and 2032. Aided by the increasing infrastructural developments and the heightened demand for heavy lifting equipment across various sectors, the market is expected to grow significantly by 2032.
Crawler cranes are a type of mobile crane equipped with a set of tracks (or crawlers) that provide stability and mobility. These cranes are capable of lifting heavy loads and are widely used in construction, mining, and marine sectors. Unlike wheeled cranes, crawler cranes are more stable on uneven terrains and can operate in diverse environmental conditions. Their versatility and high lifting capacity make them indispensable in major construction projects, including the erection of wind turbines, building bridges, and other large-scale infrastructural developments.
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A significant factor propelling the crawler crane market demand is the global surge in infrastructural development. Governments and private entities are investing heavily in infrastructure, including roads, bridges, airports, and renewable energy projects, which require heavy lifting and material handling equipment.
Technological advancements have led to the development of crawler cranes with higher lifting capacities, improved energy efficiency, and enhanced safety features. These innovations cater to the evolving demands of various industries, making crawler cranes more efficient and reliable. As per the crawler crane market analysis, beyond construction, industries such as oil and gas, mining, and maritime operations rely heavily on crawler cranes for their lifting and loading needs. This diverse application range is a significant factor in the market’s growth.
Various government-led initiatives and investments in infrastructure development further propel the demand for crawler cranes. These initiatives often include large-scale public works, transportation infrastructure, and renewable energy projects. There is ample scope for manufacturers to innovate and customise crawler cranes to meet specific industry requirements, thereby expanding the crawler crane market size.
The Asia-Pacific region, led by countries like China and India, is a significant contributor to the global market due to rapid urbanisation and industrialisation. North America and Europe also hold substantial market shares, attributed to their well-established construction and industrial sectors. Furthermore, the Middle East and Africa are emerging as expected to occupy a sizeable share of the crawler crane market, owing to the increase in infrastructure and oil & gas projects in these regions.
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Crawler Crane Market Segmentation
The market can be divided based on capacity, application, and region.
Market Breakup by Capacity
• Below 50 Tons
• 50 To 100 Tons
• 101 To 150 Tons
• 151 To 200 Tons
• 201 To 250 Tons
• 251 To 300 Tons
• 301 To 350 Tons
• 351 To 400 Tons
• More than 400 Tons
Market Breakup by Application
• Construction and Mining
• Transport
• Oil and Gas
• Utility
• Manufacturing
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global crawler crane market. Some of the major players explored in the report by Expert Market Research are as follows:
• Liebherr-International AG
• Sennebogen Erich Holding GmbH & Co. KG
• The Manitowoc Company, Inc.
• Link-Belt Cranes, L.P., LLLP
• Kobe Steel, Ltd (Kobelco)
• Kato Works Co., Ltd.
• SANY Heavy Industry Co., Ltd.
• Sumitomo Heavy Industries Construction Cranes Co., Ltd.
• Others
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