Crawler Carriers Market Size, Share, Growth, and Industry Growth by Type (Max. Load Capacity Below 5t, Max. Load Capacity 5-10t and Max. Load Capacity Above 10t) By Application (Pipeline Industry, Construction, and Utility Industries, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Crawler Carriers Market Report Overview

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The global crawler carriers market size is expected to be USD 845.6 million in 2021 and market is projected to touch USD 1348.88 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period.

Heavy-duty products known as crawler carriers, often referred to as crawler dumpers, are made to demonstrate their excellent usability and performance even under challenging working situations. They are used brilliantly in the pipeline, building, and utility sectors as well as the mining and drilling sectors. The demand for these dumpers is slated to grow due to growing expansion of various end-use industries, including utilities, construction, and pipeline. Growing need for advanced crawler dumpers that offer high-performance and efficiency will augment the crawler carriers market share over the forecast period.

COVID-19 Impact: Closure of Key End-use Industries to Threaten the Market Growth

The market development has been negatively impacted by the COVID-19 pandemic. The government's efforts to stop the virus's spread resulted in a total lock down of the world's economies, the closure of many industries, a decline in the demand for petroleum and chemical raw materials to make finished goods, and the bankruptcy of numerous manufacturing companies worldwide due to a lack of labor. Since pipelines are directly related to the source of raw materials, such as oil fields, refineries, and other chemical industries, the COVID-19 pandemic has increased demand for pipeline transportation. These factors negatively impacted the crawler carriers market growth.

LATEST TRENDS

"Rapid Rise In Demand Of Petroleum And Raw Materials To Push The Market Growth"

The ongoing construction of pipeline infrastructure in developing nations is a result of the modern society's rapidly rising demand for large quantities of petroleum and chemical raw materials. Additionally, as older pipelines are virtualized as a result of the quick advancement of detection technology, major manufacturers have been forced to increase their pipeline production capacities and safety in order to keep up with global demand. the rise in petroleum demand along with the expansion of utilities, construction, and pipeline industries will positively influence the market outlook. Market players are focused on bringing advanced machinery to the market which will promote the market development in the forthcoming years.

Crawler Carriers Market Segmentation

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• By Type Analysis

By type, market is segmented into max. load capacity below 5t, max. load capacity 5-10t and max. load capacity above 10t. The max. load capacity below 5t segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into pipeline industry, construction and utility industries and others. The pipeline industry segment will lead the global share through 2028.

DRIVING FACTORS

"Growing Demand in Pipeline Industry Will Positively Influence Market Outlook"

The flexibility, full automation of loading and unloading processes, low operating costs, and environmental friendliness are only a few benefits driving the market growth across the pipeline sector. The primary factors driving the expansion of the pipeline industry are that pipelines are suited for unidirectional movement of commodities and that inflationary impacts have little impact on the cost of transportation. As the pipeline industry expands, crawler dumper demand is slated to rise exponentially, bringing lucrative opportunities for market players in the future.

"Increasing Demand in Utilities and Construction to Push the Market Growth"

The crawler carriers market is primarily driven by increasing demand in utility and construction applications. Ongoing projects to replace existing grid and electrical infrastructure with new, more efficient smart grid networks has led to increasing utility upgradation projects. Crawler carriers find extensive use for several applications in the utility sector. Similarly, the construction sector is providing promising opportunities for the market. Infrastructure and construction projects are rising owing to rapid urbanization, industrial development, and rising spending in the construction sector. These factors will have a positive impact on the market growth.

RESTRAINING FACTORS

"High Cost of Maintenance and Repairs Could Lower Market Potential "

Although crawler carriers are vital to various end-use industries and are experiencing monumental demand, the crawler carriers market dynamics may be impacted by several factors. These include high costs of repairs and maintenance. Since crawler dumpers operate in extreme environments and terrains, they need to regularly undergo maintenance and repairs. The high costs required for the same could have a negative impact on the market in the forthcoming years.

Crawler Carriers Market Regional Insights

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"Asia Pacific to Hold Dominant Share owing to Growing Per Capita Income "

The crawler carriers market is dominated by the Asia Pacific region. In 2021, this region accounted for a significant market share and will continue to capture a major market share through 2028. The growth of pipeline networks is a result of the existence of emerging and densely populated nations like China and India, which has boosted demand for new construction projects, utility infrastructure, and pipelines. China, India, and Indonesia are three of the top 20 nations in the world in terms of the size of their pipeline networks. The large population-based nations in this area, such as China and India, have a high need for oil and gas for transportation fuel and power production, which is a key component in the regional market expansion. Since there are numerous undiscovered natural gas resources on the subcontinent, the government of India has invested in building natural gas pipeline infrastructure for the whole nation. Additionally, the Indian government's investment in a wastewater treatment facility increased the need for pipes for the collection of sewage and other industrial effluent. These factors will offer lucrative growth opportunities for the market during 2022-2028.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Kubota (Japan)
• Takeuchi (Japan)
• Yanmar (China)
• KATO WORKS (Japan)
• Prinoth Corporate (Italy)
• Morooka (Japan)
• Jikai Equipment Manufacturing (China)
• Terramac (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.