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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Crawler Crane Market Outlook
The global crawler crane market attained a value of USD 2.30 billion in 2023. The market is expected to further grow at a CAGR of 5.9% in the forecast period of 2024-2032 to reach USD 3.85 billion by 2032.
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Increasing Applications of Crawler Crane in the Construction and Mining Sector to Bolster the Growth of the Crawler Crane Industry
Based on application, the construction and mining segment accounts for the largest share in the market and is likely to remain dominant in the forecast period as well. This can be attributed to the rising demand for multipurpose crawler cranes, which are capable of lifting heavy equipment for commercial and residential projects, coupled with the increasing mining activities in the developing economies. Meanwhile, the utility segment witnessed a healthy growth due to the expansion of water, electricity, and sewage infrastructure. The rising demand for cranes available on rent for carrying out manufacturing, power, and transportation projects is likely to bolster the market further.
The Asia Pacific Accounts for a Significant Share in the Market
Region-wise, the Asia Pacific accounts for a significant share in the global crawler crane industry. The rising construction activities, improvement of road networks and growing investment in new infrastructure projects in emerging economies like China and India are expected to propel the demand for crawler cranes in the Asia Pacific. The rising demand can be attributed to the ability of crawler cranes to lift extremely heavy objects safely and economically. The market is projected to be further propelled by the facilitation of government plans to enhance manufacturing and improving infrastructure in the region.
Crawler Crane: Market Segmentation
A crawler crane is defined as a versatile class of multipurpose lifting equipment that consists of an upper carriage mounted on an under-carriage. The upper deck and attachments rotate 360º. A crawler crane has the ability to lift extremely heavy objects with safety.
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Based on capacity, the market is divided into:
- 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
- 401 To 450 Tons
- More than 450 Ton
On the basis of application, the industry is segmented into:
- Construction and Mining
- Transport
- Oil and Gas
- Utility
- Manufacturing
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements in Cranes and the Cost-Effectiveness of the Product to Boost the Growth of the Crawler Crane Industry
The global crawler crane industry is being driven by the product’s cost-effectiveness, reliability, and the introduction of technologically advanced features. The expanding possibilities of crane technology and the introduction of new and advanced models for heavy industries are likely to propel the market growth in the forecast period. The emergence of manufacturing companies and rising infrastructure developments in the developing economies are likely to surge the sales of crawler cranes in the forecast period.
Key Industry Players in the Global Crawler Crane Market
The report gives a detailed analysis of the following key players in the global crawler crane market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- 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
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Capacity |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Crawler Crane Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global crawler crane market attained a value of nearly USD 2.30 billion.
The market is projected to grow at a CAGR of 5.9% between 2024 and 2032.
The major drivers of the market are the rise in demand for multifunctional crawler cranes, increase in mining operations, the emergence of manufacturing companies, rising infrastructure developments, rising construction activities, and improvement of road networks.
The key trends propelling the industry forward are the features of the machines like cost-effectiveness and dependability, and various technological advancements.
The major regions in the industry are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific with the Asia Pacific accounting for the largest share in the market.
Based on capacity, the market is divided into 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, and more than 400 tons.
The construction and mining segment is the dominant application in the industry.
The major players in the industry are 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., and Sumitomo Heavy Industries Construction Cranes Co., Ltd., and among others.
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