Press release
Top Five Companies Account for Over 28% Revenue Share of the Crawler Cranes Market || Key Players: Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Construction Machinery Co., Ltd., Sany Heavy Industry Co., Ltd
Substantial growth in the power distribution industry coupled with increasing port maintenance activities are likely to influence the sales of crawler cranes in the forthcoming years. In addition, wind industry has picked up steam on the back of favorable tax credits. In wind farms, demand for large crawler cranes has been witnessed which is expected to fuel growth of the overall crawler cranes market, says the report.
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A Significant Lattice Boom in the Crawler Cranes Market
The demand for lattice boom type crawler cranes is projected to expand at a significant rate during the period of forecast, 2018-2028. Lattice boom type crawler cranes offer various advantages including higher stability, greater lifting capacity (more than 300 tons) and safe movement of crawler cranes. In addition, convenient self assembling system and cost efficient transport provided by lattice boom type crawler cranes is further enhancing their sales worldwide.
“Sales of lattice boom type crawler cranes across various end use industries are estimated to witness a significant spike in the forthcoming years. The crawler cranes with lattice boom are likely to witness huge demand, particularly in the construction industry. Market valuation of crawler cranes with lattice boom is estimated to touch US$ 3,100 Mn by end of 2018, accounting for a major revenue share of the overall crawler cranes market.” – Lead Analyst at Fact.MR, Construction Equipment Domain
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Sales of crawler cranes are projected to remain concentrated emerging economies of the Asia Pacific excluding Japan (APEJ) region, particularly in China and India. Largely pushed by new projects in these countries, such as the Highway Super System in India, the region is expected to present potential growth avenues for crawler cranes manufacturers. Against this backdrop, manufacturers of crawler cranes are largely concentrating their efforts in tapping APEJ in a bid to enhance their global footprint and profitability.
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The crawler cranes market report covers profiles of participants that are involved in the manufacturing of crawler cranes. Key aspects of competition including product portfolio, developments, new product launches, new technologies adopted, key strategies and innovations and key financials are covered in the crawler market report. The report on crawler cranes market has profiled companies such as Kobelco Construction Machinery Co. Ltd., Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Liebherr International AG, The Manitowoc Company Inc., and Terex Corporation.
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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