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

Global crawler cranes market is estimated to be valued at US$ 2.87 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031.

Global crawler cranes market has been witnessing steady growth due to rapid infrastructural development activities across the world. Crawler cranes are mobile construction equipment mounted on a continuous track for locomotion. These have the ability to be repositioned within a site without the need of wheels for climbing. Their robust construction and maneuverability make them well-suited for a variety of construction and lifting applications including infrastructure building, construction of commercial and residential buildings, shipbuilding and manufacturing industry. Growing demand from these end-use industries along with rising energy & mining industry worldwide can boost demand for crawler cranes in the near future

Market Dynamics:

Global crawler cranes market growth is driven by growing infrastructure sector across both developed and developing economies. Rising urbanization has necessitated the need for more residential and commercial construction projects, and this drives the market growth. Growing power and energy sector with increasing investments in oil & gas exploration, renewable energy projects and coal mining can also drive the market growth. However, high initial investment associated with crawler cranes can hamper the market growth. Moreover, slowing down of Chinese economy and uncertainties around large infrastructure projects can also hamper the market growth. Increasing demand from shipbuilding and wind tower installation industry can offer market growth opportunities. Technological advancement in crawler cranes to improve lifting capacity, fuel efficiency and operability through addition of crawler frames can also offer growth opportunities.

 Key Features of the Study:

• This report provides in-depth analysis of the global crawler cranes market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global crawler cranes market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Fushun Yongmao Construction Machinery Co., Ltd., Furukawa UNIC Corporation, Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., KATO Works Co., Ltd., Kobelco Construction Machinery Co., Ltd., Kobelco Cranes Co., Ltd., Liebherr Group, Link-Belt Cranes (a subsidiary of Sumitomo Heavy Industries), LiuGong Machinery Corporation, Manitowoc Cranes, Palfinger AG, SENNEBOGEN Maschinenfabrik GmbH, Sany Group, Tadano Ltd., XCMG Group.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global crawler cranes market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global crawler cranes market.

Detailed Segmentation-

• By Type
  • Lattice Boom Crawler Cranes
  • 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 Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Fushun Yongmao Construction Machinery Co., Ltd.
  • Furukawa UNIC Corporation
  • Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
  • KATO Works Co., Ltd.
  • Kobelco Construction Machinery Co., Ltd.
  • Kobelco Cranes Co., Ltd.
  • Liebherr Group
  • Link-Belt Cranes (a subsidiary of Sumitomo Heavy Industries)
  • LiuGong Machinery Corporation
  • Manitowoc Cranes
  • Palfinger AG
  • SENNEBOGEN Maschinenfabrik GmbH
  • Sany Group
  • Tadano Ltd.
  • XCMG Group