Global Crawler Crane Market to Reach $3.041 Billion by 2028, Fueled by Growing Construction Activities and Demand for Advanced Lifting Equipment

DUBLIN, July 20, 2023 /PRNewswire/ -- The "Global Crawler Crane Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

According to the report, the global crawler crane market attained a value of USD 2173.1 million in 2022. Aided by the increasing construction activities and the growing demand for advanced lifting equipment, the market is projected to further grow at a CAGR of 6.1% between 2023 and 2028 to reach a value of USD 3041.50 million by 2028.

Crawler cranes are heavy-duty lifting equipment that are mounted on a tracked, or crawler, chassis. These cranes offer exceptional mobility and stability, making them ideal for use in a wide range of construction and industrial applications, including bridge construction, power plant projects, and shipbuilding, among others. Crawler cranes are designed to lift heavy loads and provide precise positioning, making them a vital tool in various industries.

The increasing construction activities worldwide, particularly in developing countries, are driving the growth of the global crawler crane market, due to the increasing need to carry heavy loads for construction processes. The rapid urbanisation and infrastructural development in these regions have led to a higher demand for advanced lifting equipment, such as crawler cranes, to facilitate efficient and safe construction processes.

The growing demand for energy-efficient and eco-friendly construction equipment is another key factor propelling the crawler crane market growth. Manufacturers are focusing on the development of energy-efficient and low-emission crawler cranes, which not only reduce the environmental impact of construction activities but also help companies comply with stringent emission regulations.

The integration of advanced technologies, such as telematics and remote monitoring systems, into crawler cranes is further boosting the market growth. These technologies allow for real-time monitoring of crane performance and diagnostics, enabling operators to optimise crane usage and reduce downtime due to maintenance or repairs.

The expansion of the wind energy sector is also expected to contribute to the growth of the crawler crane market. Crawler cranes are commonly used in the installation and maintenance of wind turbines due to their excellent lifting capacity, stability, and mobility, making them an essential tool in the growing renewable energy industry.

Market Segmentation

The market can be divided based on capacity, application, and region.

Market Breakup by Capacity

• Below 50 Tons
• 50 To 100 Tons
• 101 To 150 Tons
• 151 To 200 Tons
• 201 To 250 Tons
• 251 To 300 Tons
• 301 To 350 Tons
• 351 To 400 Tons
• More than 400 Tons

Market Breakup by Application

• Construction and Mining
• Transport
• Oil and Gas
• Utility
• Manufacturing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global crawler crane companies. Some of the major key players explored in the report are as follows:

• Liebherr-International AG
• Sennebogen Erich Holding GmbH & Co KG
• The Manitowoc Company, Inc
• Link-Belt Cranes, L.P, LLLP
• Kobe Steel, Ltd (Kobelco)
• Kato Works Co., Ltd
• SANY Heavy Industry Co., Ltd
• Sumitomo Heavy Industries Construction Cranes Co., Ltd
• Others

For more information about this report visit https://www.researchandmarkets.com/r/htv8ad

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SOURCE Research and Markets