Rockville, July 27, 2023 (GLOBE NEWSWIRE) -- According to the latest study by Fact.MR, a provider of market research and competitive intelligence, the global Carry Deck Crane Market is anticipated to reach a value of US$ 805 million by 2033, expanding at a CAGR of 4.3% over the next 10 years.
Carry decks, sometimes known as pick and carry cranes, are compact four-wheel cranes used for lifting objects in tight locations. Carry deck cranes have considerable power for their tiny size, and they are versatile and maneuverable. Carry deck cranes are suitable for lifting low-profile materials in narrow and tight places and help load the material directly onto the deck.
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The market is growing steadily due to increased demand in the building and mining industries. Similarly, an increase in demand for rental units for infrastructure promotes the expansion of the carry deck crane industry. Market fluctuations in raw material prices impede market expansion. Increased expenditures in the construction sector, repairs of historic buildings, and the implementation of telematics by several market players give the future potential for market expansion.
Key Takeaways from Market Study
- The global market for carry deck cranes is valued at US$ 532 million in 2023.
- From 2023 to 2033, worldwide demand for carry deck cranes is expected to increase at a CAGR of 4.3%.
- The global market is estimated to reach US$ 805 million by the end of 2033.
- Asia Pacific is expected to be the leading regional carry deck crane market due to the existence of several crane OEMs.
“The carry deck crane market has experienced growth in recent years due to the increasing demand for versatile and maneuverable lifting equipment. These cranes are designed to work in tight spaces, making them suitable for indoor and outdoor applications where space is limited,” says a Fact.MR analyst.
Market Competition
Top market players have introduced new goods with enhanced capabilities. They have made the required efforts to improve device accuracy as well as overall operation.
- For instance, in February 2021, Broderson Manufacturing Corporation introduced the IC 280, a new carry deck crane with a capacity of 20 USt, featuring various performance improvements and enhancements. It is the first product in the company’s lineup to include telematics as a standard feature. This product launch has expanded Broderson's range of offerings, enabling it to enhance its competitiveness in the carry deck crane industry.
Key Companies Profiled
- DMW Marine Group
- M-W Marine, Inc
- MacGregor
- The Liebherr Group
- Appleton Marine Inc
- Sany Heavy Industry Co. Ltd.
- Konecranes Oyj
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- Xuzhou Construction Machinery Group Co., Ltd.
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Competitive Landscape
The presence of several major companies in the carry deck crane market in the building and infrastructure industry defines the competitive landscape. In terms of product offerings, technical developments, pricing policies, and customer service, these businesses compete. These businesses compete for a sizable market share with other local and regional producers.
Carry deck crane producers work hard to satisfy customer needs by supplying dependable, effective, and technologically cutting-edge products together with first-rate customer assistance. Continuous innovation and the capacity to meet the unique requirements of clients in the building and infrastructure industry define the competitive environment.
- MAXIKraft placed a substantial order with Liebherr Group in October 2022, totaling US$ 101 million, for the acquisition of new cranes and trade-ins. Throughout 2023, Liebherr is to deliver these cranes to various companies within the MAXIKraft Group, including MAXIKraft, MaxiMum, Kranlogistik Sachsen, Kranlogistik Lausitz, and Treffler.
- In April 2022, Tadano Limited announced the commencement of the construction of the world's first electric all-terrain crane as part of its drive to reach its carbon neutrality goals of reducing carbon emissions from product use by 25% by 2030. The crane is scheduled to be operational by late 2023.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global carry deck crane market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (mobile cranes, telescopic cranes, tower cranes, truck-mounted cranes), capacity (less than 5 tons, 5 to 10 tons, 11 to 15 tons, 16 to 20 tons, 21 to 50 tons, above 50 tons), and application (construction & infrastructure, manufacturing, mining, oil & gas), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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