Market Overview
The crawler cranes market has experienced significant growth in recent years, driven by a surge in construction and infrastructure development projects worldwide. Crawler cranes, known for their stability and mobility on rough terrains, have become indispensable in lifting and moving heavy loads across construction sites. The market has witnessed a steady increase in demand, as industries such as oil and gas, mining, and energy increasingly rely on crawler cranes for their lifting capabilities. Technological advancements, such as the integration of telematics and automation features, have further propelled market expansion, enhancing operational efficiency and safety in crane operations.
Crawler Cranes Market was USD 4,230.14 Million in 2022. It is projected to reach USD 7,026.48 Million by 2030, indicating a CAGR of 6.8% during the forecast period.
Market Key Players
XCMG Group, The Manitowoc Company Inc., Terex Corporation, Tadano Ltd., Sennebogen Erich Holding GmbH & Co. KG, Sany Group, PVE Cranes Middle East LLC, Liebherr-International Deutschland GmbH, Kato Works Co Ltd, Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
Market Segmentation
By Type
· Lattice Boom Crawler Cranes
· Telescopic Boom Crawler Cranes
By Lifting Capacity
· Less than 150 ton
· 150 ton to 300 ton
· 300 ton to 600 ton,
· and More than 600 ton
By End-User
· Oil and Gas
· Construction
· Transport
· Mining
· Shipping
· Port Building
· Agriculture
Regional Analysis
North America has played a pivotal role in propelling the crawler cranes market forward, primarily due to the surging demand for these cranes across diverse sectors, including transportation and logistics. The region is witnessing substantial growth in wind energy projects, particularly in the United States and Canada, further amplifying the need for crawler cranes in the market. Additionally, the strategic decisions made by key industry players based in the region have been consistent, aiming not only to gain a competitive advantage but also to fortify their market positions effectively. This combination of increased demand across industries and proactive strategies from key players has contributed significantly to the growth and prominence of the crawler cranes market in North America.
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