Global Carry Deck Crane Market Research Report: Information by Capacity (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), Application (Construction & Infrastructure, Manufacturing, Mining and others) and Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) – Forecast till 2025. The Global Carry Deck Crane Market size was USD 590 million in 2018 and is expected to witness 4.2% CAGR during the forecast period.
Market Synopsis: Global Carry Deck Crane Market
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 crane market. However, the volatile raw material prices might hamper the market growth during the forecast period.
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The Key Players operating in the global carry deck crane market include Broderson Manufacturing Corp. (US), LIFT SYSTEMS, INC. (US), Bailey Specialty Crane and Aerials, LLC (US), Manitowoc (US), and Manitex International, Inc. (US).
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.
Global Carry Deck Crane 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 market 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.
Asia-Pacific is expected to witness the fastest growth in the global carry deck crane market during the forecast period
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 dominated the global market, primarily due to the growth in construction industry in China and India. The construction equipment industry in Asia-Pacific is growing due to the increase in the number of infrastructural construction projects, which fuel the Asia-Pacific carry deck crane market growth.
The global carry deck crane market size was valued at USD 590 million in 2018, which is expected to witness 4.2% CAGR during the forecast period.
The 15 to 20 tons segment, to occupy the largest market share of the global carry deck crane Market
Based on capacity, the global market has been segmented as 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 15 tons to 20 tons segment dominate the global carry deck crane market, with 35% share of the total in 2018, which is also anticipated to witness fastest growth rate during the forecast period.
The cranes in the 15 to 20 tons segment mostly have a higher number of sections in the boom in comparison to other cranes, which provides improved stability to the cranes under heavy load conditions. Most of the cranes in this segment are equipped with multiple jibs to improve the functionality of cranes. The 15 to 20 tons segment is expected to grow significantly during the forecast period due to the growing construction industry.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
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