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The last few years have seen remarkable developments and shifts indicative of a dynamic nature within construction and industrial sectors respectively throughout the carry deck crane sector. There are several factors that have been found out by industry participants which are giving rise to these trends. One major trend observed over time in this market has been on compactness alongside versatility demand for lifting equipments. This growing popularity of these lifting machines can be attributed to their ability to move easily within limited space hence making them suitable for such places as construction sites with restricted space.
Another important trend characterizing this particular market involves integration of advanced technologies into it. As industries strive towards improved production levels together with safety, various manufacturers include telematics, automation as well as enhanced control systems when designing their cranes. All elements represent what now seems like inevitable evolution toward more intelligent devices capable of networking with other parts of a commercial building or broader smart city system.
Moreover, there has been an increase in demand for electric-powered carry deck cranes. This has been driven by the need to go green in many organizations that want to reduce emissions and at the same time cut on operating expenses. Electric powered versions of these machines are advantageous because they do not make a lot of noise hence can be used indoors or any other place where there are regulations against noise pollution. This global shift towards greener practices is mirrored in the adoption of this alternative energy source.
Further, there is also a growing trend for customization in the carry deck crane market. The lifting requirements within an industry change with time as it becomes more sophisticated. As a result, manufacturers have come up with customized options that meet specific needs for various applications. Customers can tailor them to their specifications ranging from features, capacities, and configurations depending on their job site requirements. Such a development shows greater understanding of our ability to provide flexible tools which can be used for different types of construction and material handling tasks of today.
In addition, a shift in demand has occurred geographically; with emerging economies playing a key role in shaping such direction. Consequently, as places like Asia-Pacific regions, Latin America and Middle East experience construction activities alongside industrial projects increase; the demand for carry deck cranes continues to rise as well. Rapid urbanization followed by infrastructural development and industrial expansion has led to increased use of material handling equipment within this region making the market dynamics of these equipments rise.
Carry Deck Crane Market Highlights:
Carry Deck Crane Market Synopsis
Carry Deck Crane Market Size was valued at USD 662.5 million in 2023. The Carry Deck Crane industry is projected to grow from USD 687 million in 2024 to USD 963 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.3% during the forecast period (2024 - 2032). The global carry deck crane market is expected to witness considerable growth in the next few years due to the rapid development of the construction and mining industries. Government bodies across the globe are focused on promoting and developing their infrastructure. They are introducing various reforms and regulations to boost their infrastructure and real-estate industries. Such reforms are expected to drive the growth of the construction industry and, consequently, drive the carry deck crane industry and carry deck crane rental industry. Moreover, the rise in construction activities and industrialization, mainly in emerging economies such as Asia-Pacific and the Middle East & Africa, has led to the growth of the carry deck industrial cranes market. However, the volatile raw material prices might hamper the market growth during the forecast period.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Key Players
The Key Players operating in the global carry deck crane industry include Broderson Manufacturing Corp. (US), LIFT SYSTEMS, INC. (US), Bailey Specialty Crane and Aerials, LLC (US), Manitowoc (US), and Manitex International, Inc. (US).
Regional Analysis
Based on region, the global carry deck crane market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific held the largest share in the global carry deck crane market, followed by North America and Europe in 2018; it is expected to continue its dominance till 2030. Furthermore, Asia-Pacific is projected to witness the fastest growth rate during the forecast period. Asia-Pacific is the fastest-growing construction market, with China, India, Japan, Indonesia, and Australia being the major markets of the region. The growth of the infrastructure and construction industries and the improvement in financial conditions in this region have led to the growth of the construction industry and, consequently, the crane market. Moreover, the rapid industrialization and urbanization in emerging economies, such as China, India, and Japan, is also boosting the growth of the crane market in the region. Furthermore, activities such as refurbishing and renovation of old buildings have increased investments in the infrastructure and construction industries, fueling the regional carry deck industrial cranes market.
Segmentation
The global carry deck crane market has been segmented based on capacity and application. Based on capacity, the global market has been segmented into less than 5 tons, 5 tons to 10 tons, 10 tons to 15 tons, 15 tons to 20 tons, 20 tons to 50 tons, and above 50 tons. The 20 tons to 50 tons segment held the largest market share of the global carry deck crane industries in 2018 and is expected to witness the highest CAGR during the forecast period. Cranes included under this capacity segment are extensively used for applications in construction and manufacturing industries. Large construction sites have dedicated storage areas for heavy concrete and iron bars, and carry deck cranes are used to lift, transport, and deliver these items to the designated sites.
Based on application, the global market has been segmented into construction & infrastructure, manufacturing industries, mining, and others. The construction & infrastructure segment accounted for the largest market share. In the construction industry, these cranes are key assets that ease functions with large and bulky construction materials. Carry deck cranes are used for lifting, loading, and unloading materials in the construction site at a certain distance and a certain height depending on the requirements. Hence, the construction industry has witnessed significant growth across the globe, owing to an increase in investments in the real estate sector. Furthermore, factors such as the increase in the construction of commercial buildings, such as commercial complexes and offices raise the demand for carry deck cranes in the construction segment.
The global carry deck crane market is fragmented with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include a focus on high-quality product, cost-effectiveness, expansions, strategic partnerships, collaborations and contracts with the manufacturing companies.
Intended Audience
- Raw material suppliers
- End users
- OEMs
- Regulatory bodies
- Market research and consulting firms
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