The crawler cranes market is projected to expand at a modest pace with global sales of crawler cranes crossing US$ 3,400 Mn by end of 2018, according to a new report by Fact.MR. The growth of the crawler cranes is largely influenced by a cohort of macroeconomic and industry-related aspects. Growth in new construction projects coupled with rising urbanization remain instrumental in driving the demand for crawler cranes worldwide.
The global crawler cranes market forecast report presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each crawler cranes market player in a comprehensive way. Further, the crawler cranes market report emphasizes the adoption pattern of the crawler cranes across various industries.
The crawler cranes market report highlights the following players:
- Kobelco Construction Machinery Co. Ltd.
- Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
- Liebherr International AG
- The Manitowoc Company Inc.
The crawler cranes market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
Substantial growth in the power distribution industry coupled with increasing port maintenance activities are likely to influence the sales of crawler cranes in the forthcoming years. In addition, wind industry has picked up steam on the back of favorable tax credits. In wind farms, demand for large crawler cranes has been witnessed which is expected to fuel growth of the overall crawler cranes market, says the report.
A Significant Lattice Boom in the Crawler Cranes Market
The demand for lattice boom type crawler cranes is projected to expand at a significant rate during the period of forecast, 2018-2028. Lattice boom type crawler cranes offer various advantages including higher stability, greater lifting capacity (more than 300 tons) and safe movement of crawler cranes. In addition, convenient self-assembling system and cost efficient transport provided by lattice boom type crawler cranes is further enhancing their sales worldwide.
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Crawler cranes with telescopic boom demand is projected grow at a modest pace, particularly in applications where frequent changes in boom length is required. Further, higher price of crawler cranes with telescopic boom as compared to those of lattice counterparts continue to challenge their adoption in turn confining their sales.