Crawler Crane Market Size, Share, Growth, Trends and Forecast 2024
Category: #world  By Rahul Varpe  Date: 2020-04-29
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Crawler Crane Market Size, Share, Growth, Trends and Forecast 2024

The crawler crane market is anticipated to record its name in the billion-dollar space within seven years, by exceeding a revenue of US$ 3 billion by 2024, with an anticipated CAGR of 7% through 2024. The rising demand for high-capacity lifting solutions coupled with the flourishing construction sector across the globe is anticipated to drive the crawler crane market growth. Heavy lifting and material handling requirements at the construction and mining sites result in huge deployments of these machines.

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Increasing demand for fuel-efficient machines creates an awareness to improvise the crane manufacturing processes. Manufacturers in the crawler crane market are enhancing the production process to offer machines with increased fuel capabilities. Additionally, the need of controlling harmful emissions from high-intensity activities in the energy & power sector, eco-friendly initiatives across various sectors, the crawler crane market is witnessing the production of low fuel consuming machines.

The implementation of innovative control technologies in these machines required to control the heavy lifting operation drives the crawler crane market growth. Intelligent control systems in modern crawler cranes include the combination of hardware and software components to facilitate lifting operations. The functions include display and control instructions for the crane operator, monitoring of all control sensors, and the overload protection. Manufacturers offer increased user-friendliness and operator safety benefits by deploying these control technologies, further developing the crawler crane market. For instance, The Liebherr Group offers its 300 tons crawler cranes implemented with intelligent control systems, which provide several operator control functions such as vertical line finder, user-friendly display, and precise load transport.

Top players - Action Construction Equipment Ltd, BG Lift, Böcker Maschinenwerke GmbH, EFFER S.P.A., The Escorts Group, Furukawa UNIC Corporation, Henan SPT Machinery Equipment Co. Ltd., Hitachi-Sumitomo Heavy Industries Construction Crane Co. Ltd., Hoeflon International BV, Jekko s.r.l., Kato Works, Kegiom Lifting, Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Konecranes Oyj, Liaoning Fuwa Heavy Industry Machinery Co. Ltd., Liebherr Group, Link Belt Cranes, Maeda Seisakusho Co. Ltd., Manitex International, Manitowoc, Palfinger AG, R&B Engineering, Sany Group, Sennebogen Maschinenfabrik GmbH, Sunward Equipment Group, Tadano Ltd., Terex Corporation, TSC, Rental, Construction, Mining, Oil & Gas, EnergyMG Group, Zoomlion Heavy Industry Science and Technology Co. Ltd.

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In the crawler crane market, the energy sector is expected to witness a substantial growth due to the essential operations in wind power generation. These cranes are used in the transportation and assembly of wind turbines, mixing plant operations, and lifting works. The high-capacity cranes also perform the erection of wind turbines and provide increased operator safety during these operations. Precision control and high flexibility are the major factors that increase the deployment of these machines in the production of oil & gas, wind energy, and power. For instance, in November 2017, Demag, a Terex Corporation brand, announced the deployment of four crawler cranes in the Beatrice Offshore Windfarm project in Germany.

Asia Pacific crawler crane market is anticipated to witness growth owing to the emerging construction and rental sectors in countries including China and India. The growth of equipment rental providers in the region will lead to a high machinery demand. Global companies are expanding their business operations in the region by collaborating with local manufacturers due to increased commercial and residential construction activities in the region, thereby supporting the industry demand. For instance, in December 2016, Jekko s.r.l. collaborated with Lee Hyun Soo and Dennis Shin for establishing the new subsidiary Jekko Korea in Seoul.

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Key players operating in the crawler crane market include: Terex Cranes, The Liebherr Group, Komatsu Ltd., Kobelco Construction Machinery Co,. Ltd., Tadano Ltd., SANY Group, The Escorts, Hyundai Construction Equipment, Manitowoc, and ACE. These companies have developed application-specific and high lifting capacity machines that support eco-friendly development initiatives. Furthermore, the major players in the crawler crane market focus on developing long-term supplier and dealer partnerships to address various regional requirements.

 



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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