Crawler Cranes Market Demand To Expand 1.8x From 2021 to 2031

A recently published Fact.MR reports anticipates the global crawler cranes market to experience a CAGR of 6% from 2021 to 2031, reaching US$ 7 Bn by the end of the forecast period. Short-term outlook also appears promising, with an expected growth rate of 7% until 2024. As of 2021, the market is likely to be valued at US$ 4 Bn.

From 2016 to 2020, crawler cranes sales surged at a CAGR of around 5%, closing in at US$ 3.8 Bn by the end of the said historical period. Prospects appeared to decline significantly amidst the COVID-19 pandemic, attributed to recessionary trends unfurling across the global construction and infrastructure industry. By Q4 2020, prospects appeared to rebound as restrictions lifted.

As per the report, manufacturers are capitalizing on the ever broadening reliance on alternative energy resources. The Center for Climate and Energy Solutions (C2ES) establishes that in 2017, nearly 60% of energy demand was sourced from modern renewables, including biomass, geothermal, wind, solar, hydro and biofuels. Hence, extensive infrastructure development to harness the same is rising, paving way for increased demand for crawler cranes.

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Crawler Cranes Market- Scope of Report

A recent study by Fact.MR on the crawler cranes market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering crawler cranes.

The study also provides the dynamics responsible for influencing the future status of the crawler cranes market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the crawler cranes market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Competitive Landscape

Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.

• On May 21, 2021, Liebherr cranes introduced the world’s first battery-powered crawler cranes with safety in mind. Additionally, the company unveiled new and improved crawler cranes and launched a mobile all-terrain crane capable of lifting 150 tonnes that continued the company’s initiative to release single-engine models.
• On 29th April 2021, Liebherr LR 1250.1 unplugged received the ESTA innovation manufacturer award. The award was presented to the company for its LR 1250.1 battery-powered crawler crane.

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Key Segments Covered

• Boom Type

  • Lattice Boom Crawler Cranes
  • Telescopic Boom Crawler Cranes

• Maximum Lifting Capacity (Tonne)

  • Crawler Cranes for Less than 150 Tonnes
  • Crawler Cranes for 150-300 Tonnes
  • Crawler Cranes for 300-600 Tonnes
  • Crawler Cranes for Greater than 600 Tonnes

• End Use Industry

  • Crawler Cranes for Construction
  • Crawler Cranes for Oil & Gas Industry
  • Crawler Cranes for Shipping & Port Building
  • Crawler Cranes for Wind Farms
  • Crawler Cranes for Other End Use Industries

Report Benefits & Key Questions Answered

• Crawler Cranes Historical volume analysis: The report offers a comparative analysis between historic sales of Crawler Cranes and projected sales performance for 2021-2031
• Crawler Cranes Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
• Crawler Cranes Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
• Post COVID consumer spending on Crawler Cranes Systems: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power

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