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Crawler Loader Market Segmented By product type such as Small Crawler, Medium Crawler and Heavy Crawler
A crawler loader is also known as a tracked loader. It is a construction engineering vehicle equipped with a loader for picking and carrying and digging applications. A crawler loader is an important tool in construction, mining and excavation industries. It has the characteristics of a crawler tractor for its stability, and the abilities of a wheel loader for loading materials. Additionally, for the construction of an effective and reliable crawler loader, strength of the construction vehicle should always be kept in mind so that it has the capability to withstand heavy excavation.
In the current market scenario, hydraulic crawler loaders have captured the market share of normal crawler loaders, owing to their high lifting capacity, power and flexibility. Moreover, more powerful hydraulic excavators are estimated to diminish the market of crawler loaders, owing to their high operational capabilities. However, crawler loaders are manufactured and used in construction and mining activities in Europe, APAC and Latin America.
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Drivers
Increasing automation across various industries, such as construction, excavation and mining, is expected to fuel growth of the crawler loader market. An intelligent crawler loader and its buckets are more efficient than a conventional crawler loader. Crawler loaders are also used in construction and mining applications for digging and excavation.
Rising environmental concerns and stringent government regulations towards the disposal of construction waste and debris are expected to drive the crawler loader market in the near future. With the effective use of a crawler loader, the overall efficiency and reliability of construction activities can be increased considerably.
Moreover, it can also optimize the operation cost and reduce idle time. These are some of the key factors estimated to augment the usage of crawler loaders in the global market. Moreover, a hydraulic crawler loader is capable of controlling the motor from a central location, making it easy for the operator to control loading/unloading and digging operations.
Restraints
The high investment cost incurred during the installation of a crawler loader is a restraining factor for the crawler loader market. Attributing to a rise in maintenance as well as initial costs, there has been a substitution effect, which is influencing end users to rent crawler loaders as opposed to making an outright purchase.
According to one of the leading rental companies, if the use of an equipment is not for at least two-thirds of its average life, one should seriously consider renting heavy constructional equipment as it works out to be far more economical than purchasing one. Crawler loaders need to be serviced periodically as mandated by authorities. Since the maintenance cost is relatively high, customers tend to refrain from purchasing crawler loaders and instead, search for other alternatives.
Trends
Prominent market participants invest heavily in R&D, which is intended to implement new features in crawler loaders. The introduction of new technologies to their products is further fueling the use of crawler loaders among consumers in the global crawler loader market.
Advancement in automation and research division has allowed manufacturers to manufacture crawler loaders that are driverless and behave like robotic vehicles for harsh mining and construction activities. The monster robot construction equipment can travel at higher speeds and haul higher payloads.
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Prominent market players are trying to develop strong and long lasting chassis for construction equipment, which can be used efficiently and sustain load depending on the object to be moved and transported. Advancement in material science technologies in the manufacturing industry has enabled the use of new advanced and strong materials, such as alloys of aluminum and steel, which make the chassis and body of the vehicle durable and stronger under extreme payloads.
North America and Europe are expected to have hold a high market share, owing to increasing automation in manufacturing and construction sectors. Expansion of construction and mining industries in emerging economies, such as India and China, is expected to be a key driving factor for crawler loader market growth in the Asia-Pacific region. Latin America and Middle East are projected to open new opportunities for the crawler loader market over the forecasted period.
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Examples of some of the market participants in the crawler loader market are:
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