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Electric Crawler Crane Market Size

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

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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.

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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 Crane Market Report Attributes
Report Attribute	Details
Base Year:	2022
Electric Crawler Crane Market Size in 2022:	USD 178.6 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10.5%
2032 Value Projection:	USD 449.2 Million
Historical Data for:	2018 - 2022
No. of Pages:	250
Tables, Charts & Figures:	193
Segments covered:	Capacity, Application
Growth Drivers:	Emergence of new manufacturing companies in Europe Growing rental companies across North America Implementation of advanced technologies Rising urbanization across the Europe & Asia pacific Fluctuation of oil and gas prices
Pitfalls & Challenges:	Lack of skilled operators Limited charging infrastructure

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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.

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.