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Crawler Crane Market Analysis
- Report ID: GMI2960
- Published Date: Mar 2023
- Report Format: PDF
Crawler Crane Market Analysis
The below 50 metric crawler crane market is speculated to exceed USD 1 billion by 2032. The sector is projected to witness rapid expansion due to the small dimensions and sizes of these cranes as many construction tasks, such as pile driving and concrete formwork placement for bridge dams and building construction, necessitate the use of tiny crawler cranes. With rising capabilities such types of cranes, there is a growing product demand for their use in limited spaces and difficult maneuvering. In addition, these cranes offer improved safety, easy mobility, and cost savings while being sustainable, thereby stimulating segment growth by 2032.
The industry size from the construction segment accounted for over USD 500 million in 2022 and is said to grow exponentially during 2023 to 2032 on account of the increased government emphasis on infrastructure development and renewable energy growth, which is propelling the use of innovative and technologically advanced crawler cranes. Moreover, there is a significant drive in the construction sector towards zero-emission operations, which has increased the demand for electric crawler cranes, thereby stimulating market development.
The Asia Pacific crawler crane market poised to attain 5% gains between 2023 and 2032 because of the strict environmental sustainability standards in building project tenders, which has raised the demand for new technologies. Manufacturers are creating smart machines to simplify the operation of lifting large loads in numerous industrial sectors. Furthermore, the presence of major industry participants and crane rental service providers will impel regional revenue growth through 2032.
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Crawler Crane Market Scope
