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Electric Crawler Crane Market Size By Application (Rental, Construction, Mining, Oil & Gas, Energy), By Capacity (Below 50 Metric Tons, 50 to 250 Metric Tons, 250 to 450 Metric Tons, 450 to 650 Metric Tons) & Forecast 2023 – 2032

  • Report ID: GMI6057
  • Published Date: Jun 2023
  • Report Format: PDF

Electric Crawler Crane Market Size

Electric Crawler Crane Market was valued at USD 178.6 million in 2022 and is anticipated to  register 10.5% CAGR from 2023 to 2032. The implementation of stringent environmental regulations and growing emphasis on sustainability have significantly influenced the industry growth. Electric crawler cranes, with their reduced emissions and lower environmental impacts, align with these regulations and sustainability initiatives, driving product demand. The market for crawler crane is likely to reach USD 4 billion by 2032.
 

Electric Crawler Crane Market

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Increasing awareness among construction and mining companies about the environmental impacts of their operations has spurred the demand for eco-friendly equipment. The product with their electric powertrains and reduced carbon footprints, are viewed as a more environmentally responsible alternative to traditional diesel-powered cranes. Companies are recognizing the importance of sustainable practices and opting for electric crawler cranes to mitigate their environmental impacts.

 

Electric crawler cranes often have higher upfront costs compared to their diesel-powered counterparts. Moreover, the cost of electric motors, batteries, and associated technology can also be significant. This initial investment may deter some buyers from adopting electric crawler cranes, particularly smaller construction or utility companies with limited budgets, hampering electric crawler crane market growth. However, it is important to note that the long-term operational savings and potential cost benefits can offset the higher upfront costs.
 

COVID-19 Impact

The COVID-19 pandemic had significant impacts on the electric crawler crane industry. The pandemic has caused disruptions in supply chains, halted construction projects, and impacted overall economic activity. The sector heavily relies on global supply chains for various components and parts. Disruptions in manufacturing and transportation resulted in delays in the production and delivery of electric crawler cranes. Factory shutdowns, restrictions on international trade, and logistics challenges resulted in supply chain bottlenecks and affected the availability of electric crawler cranes in the market.
 

As economies gradually recover and construction activity resumes, the electric crawler crane market is expected to regain momentum. Governments worldwide have announced stimulus packages and infrastructure investment plans to revive the economy. These initiatives are likely to drive the demand for construction machinery including electric crawler cranes as sustainable and environmental-friendly equipment becomes a priority in infrastructure development projects.
 

Electric Crawler Crane Market Trends

The integration of Internet of Things (IoT) technology and telematics in electric crawler cranes is gaining momentum. IoT-enabled sensors and connectivity enable real-time monitoring of crane performance, diagnostics, and predictive maintenance. Telematics systems provide data on crane utilization, location tracking, and fuel/electricity consumption. These technologies optimize crane operations, enhance safety, and improve maintenance planning, leading to increased efficiency & reduced downtime.
 

Electric Crawler Crane Market Analysis

Electric Crawler Crane Market Size, By Capacity, 2021-2032 (USD Million)

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The below 50 metric tons electric crawler crane market is expected to expand at around 8% growth rate during 2023-2032. Smaller construction projects, such as residential & commercial buildings, infrastructure maintenance, and urban development, often require cranes with lower lifting capacities, thus creating the need for electric crawler cranes with a capacity of below 50 metric tons. Additionally, this segment is witnessing increased demand due to its versatility, maneuverability in confined spaces, and lower operating costs compared to larger capacity cranes. Growth in this sector reflects the market's recognition of the value and suitability of electric crawler cranes for smaller-scale projects.
 

Electric Crawler Crane Volume Market Share, By Application, 2022

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The construction market is poised to attain 10% gains between 2023 and 2023. In this, electric crawler cranes are increasingly preferred due to their ability to operate in challenging conditions. These cranes offer enhanced maneuverability on rough terrains, enabling efficient lifting and positioning of heavy materials & equipment. The construction industry, in particular, has witnessed a surge in demand for electric crawler cranes as construction companies strive to meet sustainability goals and adhere to stricter environmental regulations. As a result, the construction segment is expected to exhibit substantial electric crawler crane business growth.
 

China Electric Crawler Crane Market Size, 2021-2032 (USD Billion)

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The Asia Pacific electric crawler crane market held a significant share of over 45% in 2022 will foresee 10% growth through 2032. China, Japan, and South Korea are major contributors to market expansion in Asia Pacific. Increasing urbanization, infrastructure development projects, and government initiatives to reduce pollution have driven the demand for electric crawler cranes in the region. China, in particular, has implemented strict emission standards and promoted the use of electric construction equipment, leading to significant market growth.
 

Electric Crawler Crane Market Share

Major companies operating in the electric crawler crane industry are

  • Liebherr-International AG
  • PV-E Cranes
  • SANY
  • Marchetti Autogru S.p.A.
  • MAEDA SEISAKUSHO CO., LTD.
     

Electric Crawler Crane Industry News:

  • In March 2022, Marchetti introduced two new electric variants of the CW25.35 Sherpina 25 tonnes (22.7 tonnes) telescopic crawler crane. Sherpina is a multi-purpose equipment built for operations in confined spaces. It features no tail swing radius and a virtual wall mechanism, which is incorporated into the LMI that avoids booming up or out or swinging into obstructions.
     

This electric crawler crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and in shipment (Units) from 2018 to 2032, for the following segments:

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Market, By Application

  • Rental
  • Construction
  • Mining
  • Oil & gas
  • Energy

Market, By Capacity

  • Below 50 metric tons
  • 50 to 250 metric tons
  • 250 to 450 metric tons
  • 450 to 650 metric tons

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric crawler reached USD 178.6 million in 2022 and is projected to grow at 10.5% CAGR during 2023 to 2032 driven by the implementation of stringent environmental regulations and the growing emphasis on sustainability.
Below 50 metric tons electric crawler crane industry is estimated to expand at 8% growth rate during 2023 to 2032 owing to the increasing number of ongoing smaller construction projects which require cranes with lower lifting capacities.
The Asia Pacific electric crawler crane sector is set to witness 45% CAGR between 2023 and 2032 attributed to the increasing urbanization, infrastructure development projects, and government initiatives to reduce pollution.
Liebherr-International AG, PV-E Cranes, SANY, Marchetti Autogru S.p.A., and MAEDA SEISAKUSHO CO., LTD. are some of the leading companies operating in the electric crawler crane industry.

Electric Crawler Crane Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 193
  • Countries covered: 16
  • Pages: 250
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