Carry Deck Cranes Market to Grow by USD 119.2 Million (2024-2028) Driven by Urbanization, AI's Impact on Trends- Technavio

NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global carry deck cranes market  size is estimated to grow by USD 119.2 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  4.29%  during the forecast period.  Growth in end-user industries due to urbanization is driving market growth, with a trend towards rising use of telematics. However, volatility in raw material prices  poses a challenge. Key market players include Action Construction Equipment Ltd., Bailey Specialty Cranes and Aerials Inc., Broderson Manufacturing Corp., Escorts Kubota Limited, JMG Cranes S.p.A, Liebherr International AG, Manitex International Inc., Tadano Ltd., Terex Corp., and The Manitowoc Co. Inc..

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Key Market Trends Fueling Growth

The Carry Deck Crane market is experiencing steady growth due to increasing construction activities worldwide. These cranes offer flexibility and mobility, making them a popular choice for various industries. Their ability to carry heavy loads and reach great heights makes them essential for construction projects. Manufacturers continue to innovate, improving crane efficiency and safety features. The market is expected to expand further due to infrastructure development and urbanization trends. 

The Carry Deck Crane market is experiencing significant growth in various industries such as mining, construction, and real estate. Government bodies and manufacturing industries are major buyers of Carry Deck Cranes in the 15 tons to 50 tons tonnage range. High-quality products from manufacturing companies are in high demand for construction sites and infrastructure development projects. Trends like telematics, IoT, and smart technologies are driving the market, with safety regulations and environmental concerns being key considerations. Crane technology advancements include safety features, fuel efficiency, and smart technologies like Artificial Intelligence. Mining industries, construction & infrastructure, and manufacturing industries are the primary application segments. Rental units, renovations, and industrial settings also contribute to the market's growth. Service providers play a crucial role in the market, offering solutions for various tonnage ranges, from less than 5 tons to above 50 tons. Economic uncertainties, geopolitical tensions, and raw material prices impact the market. Crane models like mobile cranes, telescopic cranes, tower cranes, and truck-mounted cranes cater to different application needs. Regulatory standards and economic factors influence the market's growth trajectory. 

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Market Challenges

• The Carry Deck Crane market is experiencing steady growth due to increasing construction activities worldwide. These cranes are essential for lifting and transporting heavy materials at construction sites. Their versatility and ability to maneuver in tight spaces make them a popular choice. Key players in the market include Terex, Liebherr, and Manitowoc. They invest in research and development to improve crane efficiency and safety features. The market is expected to continue growing due to infrastructure development projects and the ongoing trend of urbanization.
• The Carry Deck Crane market faces several challenges in Equipment and Machinery sector, particularly in Construction & Mining industries. Rental units play a crucial role, with renovations driving demand. Crane technology advances with telematics, IoT, and AI, while safety regulations and environmental concerns shape the landscape. Industrial settings and construction sites require compact designs for urbanization trends. Crane models offer various tonnage ranges, safety features, and fuel efficiency. Service providers navigate economic uncertainties, geopolitical tensions, and raw material prices. Application segments include Construction and Infrastructure, Manufacturing, Oil and Gas. Mobile, Telescopic, Tower, and Truck-mounted cranes cater to diverse needs. Regulatory standards and technological innovations like smart technologies and artificial intelligence continue to shape the market.

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Segment Overview 

This carry deck cranes market report extensively covers market segmentation by

1. Type 
• 1.1 Cabin model
• 1.2 Canopy model
2. Capacity 
• 2.1 Less than 5 tons
• 2.2 5-10 tons
• 2.3 10-15 tons
• 2.4 15-20 tons
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Cabin model-  Carry deck cranes are essential lifting machinery in various industries, including construction and manufacturing. The cabin is a crucial component of these cranes, enabling operators to monitor the crane's status and the goods being lifted in real-time. Safety is paramount, and the cabin's design stability significantly impacts the operator's safety. The demand for carry deck cranes is on the rise due to their use in constructing industrial facilities, high-rise buildings, and infrastructure projects in developing countries. These factors contribute to the growth of the carry deck crane cabin segment of the market, making it an attractive investment opportunity for manufacturers during the forecast period.

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Research Analysis

The carry deck crane market encompasses a range of crane sizes, from less than 5 tons to over 50 tons, catering to various industries such as mining, government bodies, real-estate, and construction activities. Cranes in the 5-ton to 15-ton range are popular for construction sites and renovations, while larger cranes, from 15 tons to 50 tons, are essential for infrastructure development projects and industrial settings. Equipment and machinery manufacturers produce these cranes, with rental units also playing a significant role in the market. Crane technology advances, including telematics, IoT, and safety regulations, are driving innovation. Urbanization trends and environmental concerns are also influencing the market, with a focus on compact designs and efficient, eco-friendly solutions. Service providers offer maintenance, repair, and consulting services to ensure optimal crane performance and safety.

Market Research Overview

The Carry Deck Crane market encompasses a wide range of industries and applications. These cranes are essential in Mining industries for extracting raw materials, in Government bodies for infrastructure development projects, and in Real-estate industries for construction activities. The market includes Carry Deck Cranes of various tonnage ranges: 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. Manufacturing industries, Construction & infrastructure, and Oil and gas sectors are significant consumers of these cranes. High-quality products and manufacturing companies cater to the demand for Equipment and machinery in Construction & mining industries, Rental units, Renovations, and Industrial settings. Crane technology continues to evolve with safety regulations, Environmental concerns, and Urbanization trends shaping the market. Telematics, IoT, and Artificial Intelligence are driving innovation in the sector. Crane models offer Safety features, Fuel efficiency, and Smart technologies to meet diverse customer needs. Regulatory standards, Economic uncertainties, Geopolitical tensions, and Raw material prices influence the market dynamics. Application segments include Construction and infrastructure, Manufacturing, and Oil and gas. Mobile cranes, Telescopic cranes, Tower cranes, and Truck-mounted cranes cater to different application requirements.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Cabin Model
• Canopy Model
• Capacity
• Less Than 5 Tons
• 5-10 Tons
• 10-15 Tons
• 15-20 Tons
• Others
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio