LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global crawler loader market and the market is poised to grow by USD 1.57 billion during 2019-2023, progressing at a CAGR of over 5% during the forecast period.
“Currently, there is an increasing trend of providing telematics as a standard or optional feature for compact and small construction equipment, including crawler loaders. The scope of the onboard telematics is expected to expand from basic the features such as monitoring of location and run time to include data points such as fuel and operator efficiency, idling time, and maintenance alerts among other things. This has led to increasing the growth of the global crawler loader market during the forecast years,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the growing focus on using specialty construction equipment in developed markets. In addition, the rising investments in greenfield infrastructure projects is anticipated to further boost the growth of the crawler loader market.
At present, developed economies account for most of the revenue of the global market, as the end-users purchase higher volumes of specialty construction equipment such as crawler loaders and skid steer loaders. This equipment offer end-users with the ability to operate under all weather conditions and provide more annual working hours than a wheel loader. This coupled with the increasing focus on improving the productivity of construction activities will drive the growth of the global crawler loader market.
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Five Major Crawler Loader Market Companies:
Caterpillar
Caterpillar owns and operates businesses under various segments such as construction industries, resource industries, energy and transportation, and financial products. The company’s offerings include 73D, which is a large crawler loader for loading and moving materials in forestry, mining, quarry, and construction applications.
CNH Industrial N.V.
CNH Industrial N.V. owns and operates businesses under various segments such as agricultural equipment, construction equipment, commercial vehicles, powertrain, and financial services. The company’s offerings include TV450, which is a compact crawler loader offered by CASE Construction for agricultural, construction, snow removal, and waste handling applications.
Deere & Company
Deere & Company operates under various segments, namely agriculture and turf, construction and forestry, and financial services. The company’s offerings include 655K. This crawler loader has been designed for road construction and mining applications.
Doosan Bobcat
Doosan Bobcat has business operations under the Construction Equipment segment. The company’s offerings include T550. This crawler loader has been designed for backfilling, grading, and dumping applications.
Manitou
Manitou operates under the segments: material handling and access, compact equipment products, and services and solutions. The company’s offerings include RT255, which is a Gehl branded compact crawler loader designed for construction, agriculture, and forestry applications.
Technavio has segmented the crawler loader market based on the application and region.
Crawler Loader application Outlook (Revenue, USD Million, 2019 - 2023)
- Construction
- Agriculture
- Mining
- Others
Crawler Loader Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- North America
- MEA
- South America
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