CRAWLER CRANES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Crawler Cranes Market, By Type (Lattice Boom Crawler Cranes and Telescopic Boom Crawler Cranes), By Capacity (Below 50 Metric Ton, 50 to 250 Metric Ton, 251 to 450 Metric Ton, More than 450 Metric Ton), By Application (Construction, Mining, Transport, Oil & Gas, Energy, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024
Code : CMI7075
Pages :142
Formats :
Excel and PDF
Industry : Automotive and Transportation

Market Concentration and Competitive Landscape

Crawler Cranes Market Concentration By Players

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Oil and Gas Industry Activity

Growing oil and gas industry is expected to boost demand for crawler cranes. The sector has experienced a resurgence in capital expenditure over the past few years, driven by the recovery in global crude oil prices from their lows. Major investments are being made by companies in exploration and production of both conventional and unconventional oil and gas reserves. Deepwater and offshore extraction requires specialized heavy lifting equipment to facilitate activities like rig installation, platform construction, pipeline laying, and others. Crawler cranes are hugely deployed in offshore projects, considering their amphibious abilities. These can operate both on land as well as be transported over water for performing lifting duties. Numerous onshore extraction and pipeline projects spanning large distances and terrains create ongoing demand. Rebound in spending by oil producers boosts significant demand for crawler cranes suitable for heavy duty oilfield applications. Growing complexity and depth of reserves also warrants advanced crane technology with higher payloads and outreach capabilities.

Key Players Insights