Expert Market Research’s new report entitled ‘Global Crawler Cranes Market Price, Trends, Analysis, Growth, Industry, Report and Forecast 2021-2026‘gives an in-depth analysis of the global Crawler crane marketTo evaluate the market based on its segments such as capacity, application, and key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report tracks the latest trends in the industry and examines their impact on the overall market. It also assesses market dynamics, covers key demand and price indicators, and analyzes the market based on SWOT and Porter’s Five Forces models.
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The main highlights of the report are:
Market overview (2015-2026)
• Historical market size (2020): $ 2.21 billion
• Forecast CAGR (2021-2026): 7.2%
• Projected market size (2026): $ 3.35 billion
The global crawler crane market has grown due to its high lifting capacities, which is one of the key technological features driving demand. Another major advantage over most other forms of crane is their ability to work quickly, especially on soft ground, which has also driven demand in historical times.
Industry definition and main segments
A crawler crane is a versatile class of multipurpose lifting equipment that consists of an upper carriage mounted on an undercarriage. The upper deck and the attachments can be rotated 360 degrees. A crawler crane can safely lift extremely heavy objects. They are widely used in mining. Rental, manufacturing, oil and gas, and energy are some of the other important end-use industries in the crawler crane industry.
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Due to the capacity, the market is divided into:
• Less than 50 tons
• 50 to 250 tons
• 251 to 450 tons
• More than 450 tons
In terms of application, the market is divided into:
• Construction and mining
• Oil and gas
The regional market for crawler cranes is:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The Asia-Pacific region makes up a significant part of the global crawler crane industry. Increasing construction activity, improving the road network and increasing investment in new infrastructure projects in emerging economies such as China and India should boost demand for crawler cranes in the Asia-Pacific region. With the global pandemic affecting every single field, the crawler crane market also felt the hardest hit. Several e-commerce services and retail stores have closed to help curb the spread of the virus. In reality, at the time of the lockout, construction-related product production and service sales were limited to permitted units. Crane production was also negatively impacted, leading to a global imbalance between supply and demand. However, industry players are expected to increase their production capacity as demand stabilizes over the forecast period. The global construction sector is expected to grow steadily in the coming months, which is expected to impact global demand for cranes and related goods. Implementation of government plans to improve manufacturing and infrastructure, particularly in the Asia-Pacific region, is expected to further strengthen the market. Safety concerns often drive the use of advanced technology in mining. The growing demand for crawler cranes in the energy sector increases the market prospects. Crawler crane rental models are also being rolled out to developing regions around the world. Consumer sales and the use of crawler cranes have certainly increased as a result.
Important market participants
The main players in the market are Böcker Maschinenwerke GmbH, Escorts Limited, Effer SPA, Manitowoc Company, Inc., XCMG Group, Liebherr-International Deutschland GmbH and a few others. The report covers, among other things, the market shares, capacities, plant turnaround, expansions, investments as well as mergers and acquisitions of these market participants.
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Note 2: As the novel coronavirus (COVID-19) continues to spread around the world, our analysts are constantly monitoring the impact of this rapidly evolving situation on markets and consumer buying behavior. Our most recent estimates and analysis of current market trends and projections will therefore fully reflect the impact of this emerging pandemic.
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Company name: Expert Market Research
Contact person: Matt Johnson, Corporate Sales Specialist – USA
E-mail: [email protected]
Toll-free number: + 1-415-325-5166 | + 44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Country: United States