Crawler cranes are construction equipment that are mounted on tracks or crawlers instead of pneumatic tires. They provide stability, reach, lift capacity, and mobility across various construction sites. Crawler cranes are highly maneuverable and offer versatility for handling heavy material on construction sites that are difficult to access for other types of cranes. Their tracks provide better stability and traction than wheeled mobile cranes, enabling them to lift heavier weights and work efficiently even on soft and uneven terrain. They can traverse diverse surfaces easily without causing any damage. Rising construction of roads, bridges, buildings, power plants, and other industrial facilities has been driving the demand for crawler cranes in recent years.



The global crawler cranes market size is estimated to be valued at US$ 2.87 billion in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.

Key players operating in the crawler cranes are Liebherr, Kobelco, Terex, Kato, Komatsu, and Link-Belt Cranes.



Key Takeaways



Key players operating in the crawler cranes are Liebherr, Kobelco, Terex, Kato, Komatsu, and Link-Belt Cranes. Liebherr and Terex together account for over 30% of the global market share due to their wide product portfolio and strong distribution network across major countries.

The construction industry is experiencing robust Crawler Cranes Market Growth in Asia Pacific and Middle East & Africa, which is opening new opportunities for crawler crane manufacturers to expand their footprint in these emerging markets. Major players are focusing on establishing joint ventures and partnerships with local players in these regions to leverage infrastructure development opportunities. Customers are showing increased inclination towards rental cranes over purchases owing to advantages like flexible payment options and elimination of maintenance costs. This is prompting crawler crane providers to strengthen their rental business through strategic collaborations with equipment rental companies.



Market drivers

- Rising infrastructure development activities such as construction of roads, bridges, dams, ports etc. in developing nations is fueling the adoption of crawler cranes. According to the World Bank, the global infrastructure spending is estimated to increase by over 80% to reach $3.7 trillion annually by 2040.

- Rapid urbanization and increasing disposable income are driving the growth of the construction industry worldwide. This is boosting the demand for crawler cranes in building construction, industrial projects and commercial buildings.

- Strict emission regulations in several countries are prompting a shift towards electric crawler cranes. The advantages of zero emissions, noiseless operations and reduced operating costs are accelerating the adoption of electric crawler cranes.



Market restraints

- Volatility in raw material prices impacts the manufacturing costs of crawler crane manufacturers. Fluctuations in steel and electronics prices can squeeze the margins of players.

- Growing preference for renting mobile cranes over purchases increases the competition from the equipment rental market. This poses challenges for the sales of new crawler cranes.

- Custom duties and trade barriers imposed by some countries can restrict the international procurement of crawler cranes.



Segment Analysis



Mobile cranes dominated the crawler cranes market during the historic period with over 60% share in 2020. Mobile cranes are highly flexible and can be easily moved from one location to another which makes them ideal for construction sites where jobs are frequently changing locations. Their mobility allows them to handle multiple projects efficiently without incurring additional costs of repeated setup and teardown.With increasing construction of multi-story buildings and infrastructure projects across major cities, demand for mobile cranes will continue to be high.Stationary crawler cranes held a share of over 25% in 2020. These cranes offer maximum lifting capacity compared to mobile cranes due to their fixed position which allows for heavier counterweights. They find widespread use in applications involving heavy lifts such as building construction, bridge erection, power plants among others. Growth in construction of large industrial facilities and infrastructure will drive demand.



Global Analysis



The Asia Pacific region accounted for over 45% share of the global crawler cranes market in 2020. Significant investments in infrastructure development across China, India and Southeast Asian countries have propelled demand. China has emerged as a leader in construction equipment rental business which has boosted sales. Europe holds the second largest share with major countries including Germany, UK, France and Italy spearheading demand from heavy construction activities. North America is projected to expand at a CAGR of around 6.5% during the forecast period driven by infrastructure revamp in the US. Latin America and Middle East & Africa offer untapped growth opportunities for manufacturers with rising construction projects in the regions.

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