According to IMARC Group’s latest research report, titled “Crawler Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the crawler crane market price. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global crawler crane market size reached US$ 3.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 6% during 2024-2032.
Crawler Crane Market Overview:
A crawler crane is a type of mobile crane that uses tracks, or crawlers, to move around a construction site. It is designed to move and lift heavy loads, making it a popular choice for projects that require heavy lifting, such as erecting tall buildings, building bridges, and constructing offshore oil rigs. It has a lattice boom, which is manufactured of a series of interconnected sections that can be retracted or extended as needed. The boom is usually attached to the crane’s base, which sits on the crawlers and can rotate, allowing the crane to move and lift loads in any direction. It can range in size from smaller models that can lift a few tons to larger models that can lift hundreds of tons. It is operated by trained professionals who use a variety of controls and safety features to ensure that the crane is used safely and efficiently.
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Crawler Crane Market Trends:
The global market is majorly driven by the increasing construction and infrastructure development activities. In line with this, the rapid urbanization and population growth in developing countries is fueling the need for new infrastructure, leading to an accelerating demand for crawler cranes. Furthermore, the development of wind farms and solar power plants requires heavy lifting and installation of equipment, creating a significant demand for crawler cranes. Apart from this, the exploration and extraction of oil and gas reserves necessitate crawler cranes for heavy lifting and logistical support, catalyzing the market.
Moreover, the integration of advanced features like telematics, remote control systems, and automation in crawler cranes is attracting industries looking for efficient and safer lifting solutions. Besides, the escalating demand for large-scale industrial projects is propelling the market. Aging infrastructure worldwide requires repair and maintenance, creating a demand for crawler cranes in renovation projects. Additionally, the government’s initiatives promoting infrastructure development and investments in emerging economies drive market expansion.
Competitive Landscape with Key Players:
- Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
- Kato Works Co Ltd
- Kobe Steel Ltd
- Liebherr-International Deutschland GmbH
- Sany Group
- Sennebogen Erich Holding GmbH & Co. KG
- Tadano Ltd.
- Terex Corporation
- The Manitowoc Company Inc.
- XCMG Group
- Zoomlion Heavy Industry Science & Technology Co. Ltd.
Key Market Segmentation:
Type Insights:
- Lattice Boom Crawler Cranes
- Telescopic Boom Crawler Cranes
Capacity Insights:
- Below 50 Metric Tons
- 50 to 250 Metric Tons
- 250 to 450 Metric Tons
- More than 450 Metric Tons
End User Insights:
- Construction and Mining
- Oil and Gas
- Transport
- Utility
- Manufacturing
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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