Crawler Crane Market Size, Share, Opportunities, And Trends By Transmission Type (Telescopic Crawler Crane, Lattice Boom Crawler Crane), By End User (Construction, Mining, Ports), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615138
- Pages : 132
The crawler crane market was valued at US$2.807 billion in 2021.
A crawler crane is a mobile crane designed to move on crawlers instead of wheels. It is typically used for heavy lifting operations on construction sites, ports, and other industrial locations. The crawler crane consists of a crane superstructure mounted on a crawler chassis, including the crane's boom, which can be telescopic or lattice, and a counterweight that provides stability during lifting operations. The crawler crane is used for constructing bridges, buildings, wind turbines, mining, and lifting heavy equipment and materials on industrial sites. The increase in the construction of infrastructure and renewable energy projects and increasing mining operations will drive the growth of the crawler crane market.
The growing construction and mining activities are augmenting the crawler crane market growth.
The increase in urbanization, growing infrastructure development, and construction activities such as building roads, bridges, airports, and commercial buildings have led to a higher demand for heavy machinery such as crawler cranes, which are essential for lifting and moving heavy loads in construction sites. Construction of renewable energy projects such as wind farms, solar power plants, and hydroelectric facilities requires heavy lifting and installation of equipment, and crawler cranes are well-suited to these tasks due to their huge size and lifting capacity. The demand for new infrastructure and sustainable projects will boost the demand for the crawler cranes market. According to the World Economic Forum's (WEF) infrastructure market report for 2019-2020, the value of global infrastructure projects in the pipeline was $9.9 trillion, with most projects located in Asia and the Middle East. The growing demand for minerals and metals worldwide has led to an increase in mining activities, and crawler cranes are essential in the mining industry as they are used for lifting heavy loads and equipment during the mining process due to their heavy load-bearing capacity and the ability to work in challenging terrains and harsh weather conditions. The increasing need for faster and more efficient mining operations is expected to accelerate the growth of the crawler crane market. The International Energy Agency (IEA) reported in 2021 that global mining production increased by 5% in 2019, with a total production value of $2.2 trillion. The United Nations Economic Commission for Europe (UNECE) reported in 2021 that the mining industry is responsible for over 50% of the world's exports of goods and services. This demonstrates that the crawler crane market has a great demand.
The Asia Pacific region is expected to hold a significant market share.
The Asia Pacific region is experiencing significant growth in the crawler crane market due to increased demand for the construction of residential and commercial buildings, roads, bridges, and other infrastructure and demand for minerals and metals, especially in emerging economies like China and India. In 2020, the Chinese government announced its "New Infrastructure" plan to invest over RMB 20 trillion (approximately USD 3 trillion) in infrastructure projects such as railways, highways, and airports over the next five years. In December 2019, the Indian government launched the National Infrastructure Pipeline (NIP) with a total investment of around USD 1.7 trillion to develop infrastructure sectors, such as highways, airports, and urban infrastructure. In March 2019, the Indian government announced the "National Mineral Policy," which aims to increase mineral production in the country while ensuring the sustainable development of the mining sector. These factors add to the crawler crane market growth in the Asia Pacific region.
- September 2021 Lampson International, a US-based heavy lifting and transport company, announced a partnership with Mammoet to jointly operate a fleet of crawler cranes in the US market.
- February 2021: Liebherr introduced the LR 1700-1.0 crawler crane, which has a lifting capacity of up to 700 tons and features a new boom system and a more powerful engine.
- January 2021: Kobelco Cranes announced the CKE900G-2 crawler crane, which has a lifting capacity of up to 90 tons and features a new engine and hydraulic system.
Crawler Crane Market Scope:
|Market Size Value in 2021
|Growth Rate||CAGR during the forecast period|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Transmission Type, End User, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Liebherr, Mammoet, Manitowoc Company Inc., SANNY Group, SENNEBOGEN, Tadano Ltd., Terex Corporation, XCMG Group, ZOOMLION Heavy Industry Sciences & Technology Co. Ltd|
|Customization Scope||Free report customization with purchase|
- By Transmission Type
- Telescopic Crawler Crane
- Lattice Boom Crawler Crane
- By End User
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. CRAWLER CRANE MARKET BY TRANSMISSION TYPE
5.2. Telescopic Crawler Crane
5.3. Lattice Boom Crawler Crane
6. CRAWLER CRANE MARKET BY END-USER
7. CRAWLER CRANE MARKET BY GEOGRAPHY
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.3. Manitowoc Company Inc.
9.4. SANNY Group
9.6. Tadano Ltd.
9.7. Terex Corporation
9.8. XCMG Group
9.9. ZOOMLION Heavy Industry Sciences & Technology Co. Ltd
ZOOMLION Heavy Industry Sciences & Technology Co. Ltd
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