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Carry Deck Crane Market Synopsis
Carry Deck Crane Market size was USD 590 million in 2018 and is expected to witness 4.2% CAGR during the forecast period.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.
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).
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.
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.
- Raw material suppliers
- End users
- Regulatory bodies
- Market research and consulting firms
- Associations and industrial bodies
| Market Size
| 2030: Significant value
| 4.2% CAGR (2022-2030)
| Base Year
| Forecast Period
| 2022 to 2030
| Historical Data
| 2019 & 2020
| Forecast Units
| Value (USD Million)
| Report Coverage
| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
| by Technology, by Application, by Material
| Geographies Covered
| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
| Broderson Manufacturing Corp. (US), LIFT SYSTEMS, INC. (US), Bailey Specialty Crane and Aerials, LLC (US), Manitowoc (US), and Manitex International, Inc. (US).
| Key Market Opportunities
|· Rapid urbanization · Unprecedented growth in the construction sector · Increase in focus on innovation in green construction materials
| Key Market Drivers
|· Regulations to boost their infrastructure and real-estate industries · Growth of the construction industry · Rise in construction activities and industrialization
Carry Deck Crane Market Highlights:
Frequently Asked Questions (FAQ) :
Carry deck crane market is projected to grow at a 4.2% CAGR between 2022-2030.
The Asia Pacific region is expected to dominate the carry deck crane market.
Carry deck crane market is predicted to touch USD 590 million by 2030.
The construction & infrastructure will lead the carry deck crane market.
Fluctuating raw materials cost may limit the carry deck crane market growth.
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