In order to dissert the market scenario prevailing across the crawler cranes market sector, FactMR has evenly presented a new examination titled "Crawler Cranes Market: Technological Innovations Leading to Rise in Demand until 2028 | Key Players are Liebherr International AG, Terex Corporation, The Manitowoc Company Inc., etc.", to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the crawler cranes market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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The crawler cranes market continues to remain a fragmented landscape with presence of various large and medium-scale participants. In the fragmented scenario, top five companies involved in the manufacturing of crawler cranes account for a significant share of the overall crawler cranes market. Tier 1 companies such as Liebherr International AG, Terex Corporation, Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Construction Machinery Co. Ltd., and Sany Heavy Industry Co., collectively account for a share of more than 28 percent of the crawler cranes market. Tier 1 companies in the crawler cranes market have been focusing on the Asia Pacific region to expand their sales footprint. They have been acquiring new contracts for crawler cranes in Asian countries and are developing new production plants. For instance, in December 2017, Zoomlion Heavy Industry Science and Technology Co., Ltd., secured a new contract to supply QUY180 crawler cranes for construction of viaduct of expressway in Djakarta (Indonesia).
Liebherr International AG is focusing on strengthening its position in India. It is planning to establish new plant for development of crawler cranes used in construction.
Regulatory authorities are transforming the construction equipment space by updating rules regarding work practices to protect employees during use of crawler cranes. OSHA Final Cranes and Derricks Rule is expected to come into effect on 10th November 2018. This rule has includes mandates regarding national certification for operators of crawler cranes in a bid to reduce accidents during field operations. In line with OSHA’s crane rule, NCCCO (National Commission for the Certification of Crane Operators) has laid down various requirements to earn operator certification, including age limits, medical requirements and passing of written and practical exams.
VR Trend to Penetrate the Crawler Crane Training Space
Availability of skilled personnel to operate mobile cranes such as crawler cranes has always been a challenge for companies. In addition, training operators to efficiently run crawler cranes is time-consuming. Inexperience in running crawler cranes can lead to increased wear and tear as well as loss in operational efficiency and fuel. This resulted in the adoption of training simulations to extend training program scope and provide operators an innovative platform to experience operations crawler cranes without directly exercising on the field. However, traditional simulations are associated with high costs, zero natural depth perception owing to two-dimensional screen and less profitability.
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In a bid to solve these problems, companies are using VR (virtual reality) that solves these challenges. Using VR, the trainee can have a real-time experience owing to the three-dimensional perception. The trend of VR is likely to proliferate in the crawler cranes, providing revolutionary training program and assessment platform for companies.
‘Rental’ Trend to Benefit OEMs – Influential Factor for Crawler Cranes Market Growth
Significant costs associated with crawler cranes has triggered trend of renting of these equipment. The renting trend, however, is likely to auger well for the overall growth of crawler cranes as renting companies are expanding their crawler cranes fleet. For instance, Bigge Crane and Rigging Co., had been investing in crawler cranes provided by Kobelco Construction Machinery Co., Ltd. It continues to invest in Kobelco for its new crawler cranes – the CK110G-2 – which will expand Bigge’s crawler cranes fleet by around 10 percent in 2018, reaching a count of 250 crawler cranes. Bigge has been renting Kobelco’s crawler cranes since 15 years and looks forward to continue its partnership with the crawler cranes OEM.
Commercial infrastructure is projected to expand at a stellar pace owing to growing urbanization and infrastructure activities. Increasing focus on development of value service industries along with growing economic diversification has presented potential avenues for crawler cranes. For instance, Chenab River Railway Bridge project in India, which is expected to conclude by 2019 and Grand Paris project are expected to present significant growth opportunities for growth of mobile crane market and crawler cranes are no exception. Likewise, a funding of US$ 11.4 billion has been initiated by National Development and Reform Commission (NDRC) in the development of rail lines in Changchun (China) in 2018. Also, the European Union has invested around €700 million in innovative and sustainable transport and infrastructure in 2018. Such growing infrastructure projects and investments worldwide remain instrumental in driving demand for crawler cranes.
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Crawler Cranes Market: Technological Innovations Leading to Rise in Demand until 2028
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