Global Electric Crawler Crane Market Overview
The Electric Crawler Crane Market Size was estimated at 13.67 (USD Billion) in 2022. The Electric Crawler Crane Industry is expected to grow from 14.3(USD Billion) in 2023 to 21.56 (USD Billion) by 2032. The Electric Crawler Crane Market CAGR (growth rate) is expected to be around 4.66% during the forecast period (2024 - 2032).
Key Electric Crawler Crane Market Trends Highlighted
Electric Crawler Cranes Market report provides analysis systems such as drivers, Opponents, Strategies, Trends, Challenges, regulatory constraints and the new opportunities. Demand of electric crawler cranes’ market expansion is due to a variety of factors which are, increased demand for green construction machineries, tougher regulatory measures on the environment, and improvement of performance standards among other aspects. There are several opportunities in less developed countries with increasing development of infrastructure and a lot of new renewable energy projects. Adoption of Artificial Intelligence and Internet of Things is the order of the day. Other market developments include use of telematics systems for control and diagnostics, demand for which is met by LEV telematic systems, remote operations of construction equipment including zero-emissions electric cranes. Market demand is forecast to remain steady over the forecast period as construction activities continue and governments, and companies invest in green building technologies. There is a shift in focus amongst the manufacturers whereby they have also engaged in inventive product development to capture the changing market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Crawler Crane Market Drivers
Increasing Demand for Sustainable Construction Practices
The growing awareness of environmental sustainability is driving the demand for electric crawler cranes in the construction industry. Electric crawler cranes produce zero emissions, reducing the environmental impact of construction projects. They are also quieter than diesel-powered cranes, making them ideal for use in urban areas and sensitive environments. The increasing adoption of green building codes and regulations is further fueling the demand for electric crawler cranes, as they help construction companies meet sustainability goals and achieve environmental certifications.
Technological Advancements in Battery and Electric Motor Technology
The development of battery and electric motor technologies has had a significant impact on the characteristics of modern electric crawler cranes. In particular, modern electric crawler cranes are characterized by the use of high-capacity batteries that allow increasing the operating time of such machines and eliminating frequent battery recharging. Moreover, electric motors generally have a higher degree of efficiency, and thus, they are associated with the lower costs of operating and energy consumption in general.Furthermore, the on-gong development of sensor-based control systems and modern telematics solutions has allowed enhancing safety and productivity of electric crawlers. Therefore, the differences in the development of batteries, motors, and control systems also impacted on the creation of modern electric crawler cranes.
Government Incentives and Subsidies
Various incentives and subsidies imposed by governments all over the world are facilitating the implementation and adoption of electric vehicles and equipment. Tax breaks, rebates, and grants to some extent make electric crawler cranes more affordable for construction companies. They, thus, overcome their reluctance to switch to these sustainable machines and purchase them. The support provided by government incentives is likely to encourage and drive the growth of the Electric Crawler Crane Market Industry throughout the forecast period.
Electric Crawler Crane Market Segment Insights
Electric Crawler Crane Market Type Insights
Market analysis The Electric Crawler Crane Market is segmented by Type and by Region. The Type segment includes Battery Electric Crawler Cranes and Hybrid Electric Crawler Cranes. Battery Electric Crawler Cranes Battery Electric Crawler Cranes are powered by a battery pack, which provides electricity to the motor that drives the crane. Battery electric crawler cranes are emission-free and have a lower operating cost than diesel-powered cranes. However, battery electric crawler cranes have a specific operating time and require more frequent charging.The Battery Electric Crawler Crane market is expected to grow from USD 8.788 billion in 2023 to USD 13.299 billion by 2032, at a CAGR of 6.5%. The growth of the market can be attributed to the increasing demand for emission-free construction equipment, the rising cost of diesel fuel, and the rising awareness of environmental sustainability. Hybrid Electric Crawler Cranes Hybrid Electric Crawler Cranes combine a diesel engine with an electric motor to operate the crane. Hybrid electric crawler cranes have a higher operating time and can be recharged while operating.However, Hybrid electric crawler cranes are more expensive than the diesel-powered cranes and have higher maintenance costs. The Hybrid Electric Crawler Crane market is expected to grow from USD 5.512 billion in 2023 to USD 8.251 billion by 2032, at a CAGR of 6.2%. The growth of the market can be attributed to the increasing demand for fuel-efficient construction equipment and the rising cost of diesel fuel. The market for Electric Crawler Cranes is expected to grow. The increasing demand for emission-free and fuel-efficient construction equipment, the rising cost of diesel fuel, and the increasing awareness of environmental sustainability are the factors driving the growth of the market.The Battery Electric Crawler Cranes are expected to account for a higher market share than the Hybrid Electric Crawler Cranes due to the lower operating costs and zero emissions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Crawler Crane Market Lifting Capacity Insights
One of the most crucial factors in Electric Crawler Crane Market segmentation is the lifting capacity segment. The market is divided into four sub-segments based on the lifting capacity: less than 50 tons, 50 – 100 tons, 100 – 200 tons, and over 200 tons. The 50 – 100 tons lifting capacity sub-segment is estimated to grab the leading market share in 2023 and it is expected to generate approximately 35% of the Electric Crawler Crane Market revenue. The high demand for this type of crane is explained by the surplus of construction projects such as commercial, residential, and infrastructure developments.The highest growth rate is expected to be observed in the sub-segment of the over 200 tons lifting capacity, which is conditioned by the high demand of the heavy-duty cranes for construction and infrastructure projects.
Electric Crawler Crane Market Boom Type Insights
The Electric Crawler Crane Market is segmented by Boom Type into Fixed Boom Crawler Cranes, Telescopic Boom Crawler Cranes, and Lattice Boom Crawler Cranes. The Fixed Boom Crawler Cranes segment is expected to hold the largest market share during the forecast period. These cranes are characterized by their fixed boom length, which makes them ideal for applications where precision and stability are required. They are commonly used in construction, mining, and other industrial settings. The Telescopic Boom Crawler Cranes segment is expected to experience significant growth over the next ten years.These cranes feature a telescopic boom that can be extended or retracted, providing greater reach and versatility. They are suitable for a wide range of applications, including construction, infrastructure development, and disaster relief. The Lattice Boom Crawler Cranes segment is expected to account for a smaller market share compared to the other two segments. These cranes are typically used in heavy-duty applications, such as bridge construction and power plant maintenance. They are characterized by their strong and durable lattice boom, which can handle heavy loads.
Electric Crawler Crane Market Application Insights
The Electric Crawler Crane Market is segmented into various applications, including Construction, Infrastructure, Mining, Wind Energy, and Oil and Gas. The Construction segment is expected to account for the largest share of the market in 2023, due to the increasing demand for electric crawler cranes in construction activities such as building, road construction, and bridge construction. The Infrastructure segment is also expected to witness significant growth, as governments around the world invest in infrastructure development projects such as railways, highways, and airports.The Mining segment is expected to contribute a substantial share to the market, as electric crawler cranes are used in surface mining operations for excavating and transporting materials. The Wind Energy segment is expected to grow at a rapid pace, as the demand for renewable energy sources increases. The Oil and Gas segment is also expected to contribute to market growth, as electric crawler cranes are used in offshore oil and gas exploration and production activities.
Electric Crawler Crane Market Regional Insights
The Electric Crawler Crane Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest market for electric crawler cranes, accounting for over 35% of the market revenue in 2023. The region is expected to continue to dominate the market over the forecast period, driven by the increasing adoption of electric crawler cranes in construction and infrastructure projects. Europe is the second-largest market for electric crawler cranes, with a market share of over 25% in 2023. The region is expected to witness significant growth over the forecast period, owing to the growing demand for electric crawler cranes in renewable energy projects.APAC is the third-largest market for electric crawler cranes, with a market share of over 20% in 2023. The region is expected to experience strong growth over the forecast period, driven by the increasing demand for electric crawler cranes in infrastructure and construction projects. South America and MEA are expected to witness moderate growth over the forecast period, owing to the increasing adoption of electric crawler cranes in various industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Electric Crawler Crane Market Key Players And Competitive Insights:
Major players in the Electric Crawler Crane Market industry are continuously adopting new technologies through mergers and acquisitions and partnering with other companies and universities to provide the best products for the customers. In addition to this, top Electric Crawler Crane Market players are investing heavily in research and development and are focused on expanding their product portfolio. The Electric Crawler Crane Market industry is expected to grow significantly in the coming years due to increasing demand from different end-use industries. The Electric Crawler Crane Market competitive landscape is expected to be highly fragmented, with several regional and players dominating the market.
Liebherr is a prominent Electric Crawler Crane Market player that provides a wide range of electric crawler cranes with various features and advanced technologies. The company has a strong presence and is widely regarded for its high-quality products and reliable services. Liebherr also invests heavily in research and development to maintain its leading position in the highly competitive Electric Crawler Crane Market. The company has a group of engineers and designers dedicated to designing advanced products to meet consumer demand. Liebherr’s focus on innovation and customer satisfaction has helped it maintain its position in the market.
Tadano is another prominent Electric Crawler Crane Market player that manufactures and supplies a wide range of mobile cranes, including Electric Crawler Crane Market and Crawler Crane Market. The company’s electric crawler cranes have lifting capacities ranging from 50 to 300 tons. Tadano’s electric crawler cranes are known for their cutting-edge technology, durability, reliability, and excellent performance. The company has an efficient sales and service network that allows customers to benefit from instant, reliable service. Tadano’s dedication to product development, customer service, and customer satisfaction has helped it succeed in the highly competitive Electric Crawler Crane Market.
Key Companies in the Electric Crawler Crane Market Include
- LinkBelt
- Tadano
- Xuzhou Construction Machinery Group
- Shanghai Heavy Machinery
- Kobelco
- Grove
- XCMG
- Manitowoc
- Kato Works
- Ningbo Ruyi Heavy Machinery
- Beijing Sinomachi Construction Machinery
- Hitachi Construction Machinery
- Sany
- Liebherr
- Zoomlion
Electric Crawler Crane Market Industry Developments
The electric crawler crane market is projected to reach USD 21.56 billion by 2032, exhibiting a CAGR of 4.66% during the forecast period (2024-2032). The growing demand for construction equipment in emerging economies and the increasing adoption of sustainable construction practices are key factors driving market growth. Additionally, government regulations promoting the use of eco-friendly equipment and rising investments in infrastructure development are further contributing to the market expansion. Recent technological advancements, such as the integration of IoT and automation, are expected to enhance the operational efficiency and safety of electric crawler cranes, further fueling market growth.
Electric Crawler Crane Market Segmentation Insights
Electric Crawler Crane Market Type Outlook
- Battery Electric Crawler Cranes
- Hybrid Electric Crawler Cranes
Electric Crawler Crane Market Lifting Capacity Outlook
- Less than 50 tons
- 50-100 tons
- 100-200 tons
- Over 200 tons
Electric Crawler Crane Market Boom Type Outlook
- Fixed Boom Crawler Cranes
- Telescopic Boom Crawler Cranes
- Lattice Boom Crawler Cranes
Electric Crawler Crane Market Application Outlook
- Construction
- Infrastructure
- Mining
- Wind Energy
- Oil and Gas
Electric Crawler Crane Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
13.67(USD Billion) |
| Market Size 2023 |
14.3(USD Billion) |
| Market Size 2032 |
21.56(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.66% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
LinkBelt, Tadano, Xuzhou Construction Machinery Group, Shanghai Heavy Machinery, Kobelco, Grove, XCMG, Manitowoc, Kato Works, Ningbo Ruyi Heavy Machinery, Beijing Sinomachi Construction Machinery, Hitachi Construction Machinery, Sany, Liebherr, Zoomlion |
| Segments Covered |
Type, Lifting Capacity, Boom Type, Application, Regional |
| Key Market Opportunities |
Construction infrastructure growth Government initiatives Technological advancements Rental market expansion Green initiatives |
| Key Market Dynamics |
Rising infrastructure spending increasing demand for ecofriendly equipment technological advancements growing construction industry government initiatives |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Electric Crawler Crane Market is estimated to be valued at 14.3 billion USD in 2023.
The Electric Crawler Crane Market is projected to grow at a CAGR of 4.66% from 2024 to 2032.
The growing demand for energy-efficient and environmentally friendly construction equipment is driving the growth of the Electric Crawler Crane Market.
Electric Crawler Cranes are widely used in construction, infrastructure development, and mining applications.
Major players in the Electric Crawler Crane Market include XCMG, Zoomlion, Sany, Liebherr, and Terex.
North America is expected to hold the largest market share in the Electric Crawler Crane Market by 2032.
Challenges faced by the Electric Crawler Crane Market include high initial investment costs and limited availability of charging infrastructure.
Key trends shaping the Electric Crawler Crane Market include the increasing adoption of automation and telematics.
The Electric Crawler Crane Market is projected to reach 21.56 billion USD by 2032.
Major growth opportunities for the Electric Crawler Crane Market include increasing demand from emerging markets and technological advancements.
