Published on : Nov 27, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Hydraulic Crawler Cranes Market Professional Survey Report 2019”. The report on the global hydraulic crawler cranes market offers a detailed analysis of important driving factors, recent notable developments, the overall vendor landscape, and investment opportunities across important geographical regions.
The hydraulic crawler cranes are highly mobile cranes, which come with either telescopic or lattice boom. This boom is mounted on an undercarriage. The undercarriage has a fixed crawler track that helps these cranes in their stability as well as mobility. Generally, the lifting capacity of these hydraulic crawler cranes is somewhere between 150 to 600 tons or more. These cranes have a wide range of end-use verticals such as shipping, oil & gas, wind farms, and construction among others.
The hydraulic crawler cranes market has a highly fragmented vendor landscape due to presence of several key players. The fragmentation of the market is expected to grow during the given forecast period as new players are trying to enter the market. However, this entry of new market players is not expected to have a considerable impact on the leading five companies the global hydraulic crawler cranes market that cumulatively hold a significant share of the market.
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These five leading companies in the market are Zoomlion Heavy Industry Science and Technology Co. Ltd., Sany Heavy Industry Co., XCMG Construction Machinery Co. Ltd., Terex Corporation, and Liebherr International AG. These five companies account for nearly one third of the overall share of the global hydraulic crawler cranes market.
It has been observed that these established brands are now focusing on the Asia Pacific region with an objective to expand their distribution and sale network. They have been actively involved in acquiring new tenders and contracts for these hydraulic crawler cranes in the Asia Pacific nations and are setting up new production facilities. To cite an example, in December 2017, Zoomlion Heavy Industry Science and Technology Co. Ltd. announced that the company has been successful in securing a new contract to supply hydraulic crawler cranes in Indonesia. The company will supply QUY180 crawler cranes for the development of viaduct of an expressway in Djakarta.
On the other hand, development of new products is one of the important aspects for these leading companies. They are investing heavily to develop innovative products and can perform multiple tasks. Technological advancements in the field of design and hydraulics have significantly helped these leading players to launch new cranes and build a highly sustainable brand.
There are several factors that are exerting a positive influence over the development of the global hydraulic crawler cranes market. One key driving factor for the growth of the market is the booming commercial infrastructural development across the globe, particularly in emerging economies such as India and China. Growing focus on developing value-driven service industries coupled with burgeoning economic diversification is expected to open lucrative business opportunities for the growth of the global hydraulic crawler cranes market. In addition to this, increasing investments, funding, and resource provide for the development of domestic infrastructure in the emerging economies is expected to play an important role in driving the global market.
Geographically, there are five key regions of the global hydraulic crawler cranes viz. North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America has been the dominant market across the globe in recent years and is expected to continue its dominance over the course of the given forecast period. Europe market too is expected to flourish at a healthy pace due to rising investments by the EU nations for the betterment of their domestic infrastructure.