Crawler Crane Market

Market Overview:

The global crawler crane market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.52% during 2023-2028. The increasing construction activities, rising demolishing activities, and the growing integration of advanced technologies represent some of the key factors driving the market.

A crawler crane is a machine designed to track terrain with metal tracks. It is equipped with multiple attachments and tools to perform various tasks. It operates using hydraulic systems to extend and retract the boom arm and raise and lower the hoist. It can be transported to different job sites, which provides a flexible and cost effective solution for heavy lifting and material handling operations, including steel beams, concrete blocks, and large machinery. It is also used for loading and unloading cargo from ships, barges, and trains. Nowadays, the advent of construction equipment rental services is catalyzing the demand for crawler crane across the globe.

Crawler Crane Market Trends:

The increasing construction activities in the residential, commercial, and industrial areas represent one of the major factors driving the demand for crawler cranes around the world. It can also be attributed to rapid urbanization and inflating income levels of individuals. Moreover, there is a rise in the number of roads, flyovers, bridges, and buildings undergoing repair. This, coupled with the growing number of renovation and remodeling projects of homes, restaurants, cafes, hotels, offices, shopping malls, airports, and educational institutions, is influencing the market positively. In addition, rising demolishing activities of unauthorized buildings and weak foundations are favoring the market growth. Apart from this, there is an increase in investments in the expansion of smart cities by governing agencies of several countries. They are also undertaking numerous initiatives to promote the adoption of energy-efficient crawler cranes and reduce carbon emissions. Furthermore, key players are introducing autonomous and electric crawler cranes that are integrated with advanced technologies, such as a global positioning system (GPS), the internet of things (IoT), big data, remote control systems, augmented reality (AR), and virtual reality (VR). These advancements are used for training and enable real time monitoring and data analysis for more accurate and efficient crane positioning and movement. Besides this, crawler cranes are employed in the mining industry for lifting and moving heavy equipment and materials, such as ore, coal, and waste rock. This, in confluence with the increasing mining activities worldwide, is creating a positive outlook for the market.  

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global crawler crane market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type, capacity, and end user.

Type Insights:

• Lattice Boom Crawler Cranes
• Telescopic Boom Crawler Cranes
   

The report has provided a detailed breakup and analysis of the crawler crane market based on the type. This includes lattice boom crawler cranes and 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
   

A detailed breakup and analysis of the crawler crane market based on the capacity has also been provided in the report. This includes below 50 metric tons, 50 to 250 metric tons, 250 to 450 metric tons, and 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
   

The report has provided a detailed breakup and analysis of the crawler crane market based on the end user. This includes construction and mining, oil and gas, transport, utility, manufacturing, and others. According to the report, construction and mining represented the largest segment.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for crawler crane. Some of the factors driving the Asia Pacific crawler crane market included rapid urbanization, inflating income levels, rising construction activities, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global crawler crane market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global crawler crane market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global crawler crane market?
• What is the impact of each driver, restraint, and opportunity on the global crawler crane market?
• What are the key regional markets?
• Which countries represent the most attractive crawler crane market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the crawler crane market?
• What is the breakup of the market based on the capacity?
• Which is the most attractive capacity in the crawler crane market?
• What is the breakup of the market based on end user?
• Which is the most attractive end user in the crawler crane market?
• What is the competitive structure of the global crawler crane market?
• Who are the key players/companies in the global crawler crane market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the crawler crane market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global crawler crane market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the crawler crane industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.