IMARC Group's latest report, titled "Crawler Crane Market by Type (Lattice Boom Crawler Cranes, Telescopic Boom Crawler Cranes), Capacity (Below 50 Metric Tons, 50 to 250 Metric Tons, 250 to 450 Metric Tons, More than 450 Metric Tons), End User (Construction and Mining, Oil and Gas, Transport, Utility, Manufacturing, and Others), and Region 2023-2028," finds that the global crawler crane market size reached US$ 2.9 Billion in 2022. A crawler crane is a type of heavy-duty construction equipment designed to effortlessly traverse terrain using metal tracks instead of traditional wheels. It is equipped with various attachments and tools to accomplish numerous tasks. It operates through hydraulic systems that enable the extension and retraction of the boom arm and the raising and lowering of the hoist. Its mobility makes it an efficient and cost-effective solution for handling heavy loads at various job sites, such as steel beams, concrete blocks, and large machinery. It is commonly used for loading and unloading cargo from ships, barges, and trains. At present, the crawler crane is gaining immense traction across the globe due to the advent of construction equipment rental services.
Global Crawler Crane Market Trends:
Rising construction activities in the residential, commercial, and industrial sectors represent the primary factor driving the market growth. Moreover, the increasing repair, renovation, and remodeling projects in various establishments such as homes, restaurants, cafes, hotels, offices, shopping malls, airports, and educational institutions are positively influencing the market growth. Apart from this, rising investments by governments of numerous countries in the expansion of smart cities and promoting the adoption of energy-efficient crawler cranes to reduce carbon emissions represent another major growth-inducing factor. Additionally, the rising demolition of unauthorized buildings and weak foundations has catalyzed market growth. Besides this, the increasing use of crawler cranes in the mining industry for lifting and moving heavy equipment and materials, such as ore, coal, and waste rock, is propelling market growth. Furthermore, key players are introducing advanced technologies such as GPS, IoT, big data, remote control systems, AR, and VR in autonomous and electric crawler cranes, which enable real-time monitoring, data analysis, and training for more efficient crane positioning and movement, thereby contributing to the market growth. Other factors, including increasing mining activities, inflating consumer disposable incomes, and rapid urbanization, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 4.3 Billion by 2028, expanding at a CAGR of 6.52% during 2023-2028.
- Based on the type, the market has been segmented into lattice and telescopic boom crawler cranes. Currently, telescopic boom crawler cranes dominate the market, holding the largest market share.
- On the basis of the capacity, the market has been divided into below 50 metric tons, 50 to 250 metric tons, 250 to 450 metric tons, and more than 450 metric tons. At present, 50 to 250 metric tons account for the largest market share.
- The market has been categorized based on the end user into construction and mining, oil and gas, transport, utility, manufacturing, and others. Amongst these, the construction and mining sector represents the largest market segment.
- Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being 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, and Zoomlion Heavy Industry Science & Technology Co. Ltd.
|Base Year of the Analysis
||Lattice Boom Crawler Cranes, Telescopic Boom Crawler Cranes
||Below 50 Metric Tons, 50 to 250 Metric Tons, 250 to 450 Metric Tons, More than 450 Metric Tons
|End Users Covered
||Construction and Mining, Oil and Gas, Transport, Utility, Manufacturing, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800