Crawler Crane Market to Cross $3 bn by 2024| Terex Corporation, Konecranes, PALFINGER Group, Sany Group, Komatsu America Corp. and 26 Other Companies Profiled
SELBYVILLE, Delaware, October 17, 2018 /PRNewswire/ --
Global Market Insights, Inc. announces launch of "Crawler Crane Market Size By Capacity (Below 50 Metric Tons, 50 to 250 Metric Tons, 250 to 450 Metric Tons, 450 to 650 Metric Tons), By Application (Rental, Construction, Mining, Oil & Gas, Energy), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Russia, Italy, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024" research report showing a 4% CAGR for shipments over the forecast period to surpass value of USD 3 billion by 2024.
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The 250 to 450 capacity machines in the crawler crane market are expected to witness a considerable demand due to their utilization in building construction, nuclear power generation, and water conservancy operations. These machines offer powerful lifting capacities and improved traveling traction while carrying heavy loads at the energy generation sites. Additionally, the increasing focus of various governments worldwide on providing enhanced public infrastructure is creating demand for these machines in the crawler crane market.
Economic growth across the globe, especially in China, India, and Southeast Asian markets, has led to a better infrastructure demand. Growing building & construction spending due to a rise in per-capita disposable income along with enhanced infrastructure in Asia Pacific and Latin America will drive the crawler crane market. Growth in Latin America will be led by an increase in infrastructure spending, mainly transportation and energy, closely followed by spending on non-residential structures. The key areas of construction growth in emerging economies are social, transport, energy, defense infrastructure, and government accommodation.
Manufacturers of crawler crane are enhancing the production process to offer machines with increased fuel capabilities. Additionally, due to 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 crawler crane market is witnessing demand for low-level access units, niche machines, and customized choices. Growing installation & maintenance activities for the upgrade of fire stations, street lights, glasswork, and other associated infrastructure coupled with increasing organization of several events such as concerts, corporate events, and festivals, are driving the need for these machines across several regions.
Browse key industry insights spread across 220 pages with 223 market data tables & 36 figures & charts from the report, "Crawler Crane Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/crawler-crane-market
The construction application segment in China dominated the industry with a market share of around 40% in 2017. Construction applications offer a huge impetus for growth in the market. The global construction spending registered USD 7.2 trillion in 2013 and is anticipated to reach USD 15.9 trillion by 2024. Increasing construction spending is a major factor escalating the crawler crane market growth. Rising government focus toward infrastructure development projects along with the consumer preference for luxurious & aesthetic constructions fuels the market demand. Growing necessity for houses and high investment requirements, such as smart city projects & high construction spending, in economically stable countries are expected to contribute to the industry demand.
The Asia Pacific crawler crane market is witnessing a high adoption in the construction and mining sectors and expected to grow at a CAGR of over 5% from 2018 to 2024. Global companies are expanding their business operations in the region by collaborating with local manufacturers. For instance, in December 2016, Jekko s.r.l. collaborated with Lee Hyun Soo and Dennis Shin for establishing a new subsidiary, Jekko Korea in Seoul. Countries including India, China, and Japan are adopting advanced automated technologies in industrial sectors for enhancing their business operations. The escalating infrastructure development projects in countries including India will favor the crawler crane market growth.
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Major players in the crawler crane market include Terex Corporation, Konecranes, The Liebherr Group, PALFINGER Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., XCMG Group, The Escorts Group, Komatsu America Corp., Sany Group, and Manitowoc. Companies including The Escorts Group, Furukawa UNIC Corporation, and Terex Corporation sell their equipment through specialized construction equipment distributors and construction firms across the globe.
The strong distributor relations aid companies in gaining a competitive advantage and understanding the demand for any new products in application segments. This helps companies in the crawler crane market in efficiently marketing new product lines and expanding the customer base. In July 2018, The Liebherr Group announced the opening of the company's new headquarters in Virginia. The new facility developed a production & workshop unit to support Liebherr's construction, concrete, and cranes division.
Company Profiled in This Report based on Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis:
- 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
- XCMG Group
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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