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 crawler crane market outlook. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
How Big is the Crawler Crane Market?
The global crawler crane market size reached USD 3.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.2 Billion by 2032, exhibiting a growth rate (CAGR) of 6% during 2024-2032.
Crawler Crane Market Trends:
The global market is primarily driven by the increasing demand for heavy lifting equipment in infrastructure projects, such as bridges, roads, and large buildings. In accordance with this, the increasing ability to handle large loads and operate on uneven terrain in the expanding construction industry, is augmenting the market demand. The rise in renewable energy projects, including wind and solar farms, supporting the installation of heavy components is also driving market growth.
Furthermore, continual advancements in technology, such as automation and remote-control capabilities, are enhancing operational efficiency and safety, thereby increasing adoption of the product. Similarly, the emerging trend of modular construction, which requires lifting heavy prefabricated components, is further propelling the market expansion. Moreover, increasing investments in oil and gas exploration and extraction activities are contributing to the expanded market reach.
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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.
Crawler Crane Market Scope & Growth Analysis:
The scope of the market is broad, covering construction, energy, mining, and industrial sectors, where heavy lifting and precise maneuverability are required. Market analysis indicates significant expansion potential, particularly in developing regions, where rapid urbanization and industrialization are driving demand for construction and infrastructure development. The growing focus on sustainable energy projects, including wind energy installations, is creating new opportunities for the market.
Continual technological innovations, such as the rapid integration of telematics and advanced safety systems, are enhancing the functionality of crawler cranes, making them more attractive to end-users. Besides this, favorable government initiatives focused on large-scale infrastructure development and modernization are strengthening the demand for crawler cranes. Furthermore, as global investments in infrastructure projects continue to rise, the market scope is poised for sustained growth, with manufacturers focusing on improving load capacities, energy efficiency, and mobility to meet diverse industry needs.
Key Market Segmentation:
Type Insights:
Lattice Boom Crawler Cranes
Telescopic Boom Crawler Cranes
According to the report, telescopic boom crawler cranes represented the largest segment.
Capacity Insights:
Below 50 Metric Tons
50 to 250 Metric Tons
250 to 450 Metric Tons
More than 450 Metric Tons
According to the report, 50 to 250 metric tons accounted for the largest market share.
End User Insights:
Construction and Mining
Oil and Gas
Transport
Utility
Manufacturing
Others
According to the report, construction and mining represented the largest segment.
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)
According to the report, Asia Pacific represents the largest regional market for crawler cranes.
Key Highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
Historical, Current and Future Market Trends
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
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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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