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Crawler Crane Market Size

Report ID: GMI2960
Published Date: Nov 2024
Report Format: PDF

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Crawler Crane Market Size

The global crawler crane market was valued at USD 3 billion in 2024 and is projected to grow at a CAGR of 5.2% between 2025 and 2034. Increasing urbanization is significantly boosting the demand for crawler cranes, especially in densely populated areas where construction is rapidly expanding. As cities grow, the need for new infrastructure, such as high-rise buildings and transportation networks, necessitates reliable lifting solutions. Additionally, government investments in public infrastructure projects further stimulate the market, creating opportunities for advanced, efficient equipment that meets modern construction challenges.

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The growing emphasis on renewable energy, particularly the erection of wind turbines, is driving demand for crawler cranes capable of handling large, heavy components. As countries aim to meet sustainability targets and reduce carbon emissions, significant investments in wind energy infrastructure are anticipated. These cranes are essential for the efficient assembly and maintenance of wind turbines, further propelling market growth in this sector.

Crawler Crane Market Report Attributes
Report Attribute	Details
Base Year:	2024
Crawler Crane Market Size in 2024:	USD 3 Billion
Forecast Period:	2025 - 2034
Forecast Period 2025 - 2034 CAGR:	5.2%
2034 Value Projection:	USD 4.9 Billion
Historical Data for:	2021 – 2024
No. of Pages:	170
Tables, Charts & Figures:	160
Segments covered:	Capacity, Application
Growth Drivers:	Rising infrastructure development across emerging economies Increased government investment in construction projects Advancements in crane technology and automation Need for efficient heavy lifting in mining operations
Pitfalls & Challenges:	High initial cost limits smaller project adoption Safety concerns increase liability and operational risks

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The global market for crawler crane was reached USD 3 billion in 2024 and is projected to grow at a 5.2% CAGR from 2025 to 2034, driven by increasing urbanization and infrastructure development.

The segment for crawler cranes below 50 metric tons accounted for 34% of the market share in 2023 and is expected to exceed USD 1.4 billion by 2034, due to their versatility and ease of transport in urban construction and small-scale projects.

The construction segment held 32% of the market share in 2024, led by the adoption of crawler cranes with enhanced lifting capacities and safety features for high-rise and complex infrastructure projects.

The North America crawler crane market accounted for a 36% share in 2024 and is set to cross USD 1.9 billion by 2034, led by rising investments in renewable energy projects and infrastructure revitalization plans.

Key players in the crawler crane market include Hyundai Construction Equipment, Kobelco, Liebherr, Manitowoc, Palfinger, SANY, Sumitomo Heavy Industries, Terex, XCMG, and Zoomlion.