Crane Market 2023 | Global Industry Size, Share, Business Growth, Applications, Competitive Landscape, Historical Analysis and Forecast

Market Scope

The global Crane Market size had expanded at USD 590 million in the year 2018, estimates Market Research Future (MRFR). The market can potentially record a robust growth rate of 4.2% over the forecast period (2019-2025).

Primary Drivers and Main Barriers

Deck cranes are used for lifting both light-heavy materials with a 360-degree rotating boom. These cranes also help transport material from one point to another; but find widespread use in the transport industry for loading and unloading goods, freight or cargo. Deck cranes are available for various purposes, with respect to operation and design to load and unload common freight or goods.

Manufacturers in the carry deck cranes market are making sizeable investments in research and development activities to come up with new and innovative manufacturing methods. This factor is strongly supported by the surge in income as well as trade across the globe and can help the Crane Market generate colossal revenues in the coming years.

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Market players are also encouraged to develop highly-efficient carry deck cranes, thanks to the increasing globalization and commercialization across various regions in the world. Moreover, mounting demand for consumer commodities and goods in the wake of more trade and the advent of multinational and multilateral agreements among nations can also stimulate the growth of the Crane Market in the following years.

Market Segmentation

The worldwide market for carry deck crane has been segmented with respect to capacity and application.

Capacity-wise, the global market has been considered for 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, in 2018, led the market for carry deck crane and can attain the highest growth rate in the years to come. Cranes with this capacity are mostly used in industries like construction and manufacturing. Huge construction sites consist of dedicated storage areas that store heavy concrete and iron bars, where carry deck cranes help transport, lift, and deliver such items to the final sites.   

Application-wise, the global market includes manufacturing industries, construction & infrastructure, mining, and others. The construction & infrastructure segment forms the largest market as these cranes are used for easing functions with bulky and large construction materials. Carry deck cranes in this sector help lift, load and unload materials at a certain distance and a specific height, which depends on the requirements. Therefore, the construction industry has expanded considerably over the years because of the surge in investments in the real estate sector. Also, increasing construction of commercial buildings, like commercial offices and complexes has boosted the demand for carry deck cranes in the construction sector. 

Regional Outlook

The global market for carry deck crane has been regionally split into North America, Asia Pacific (APAC), South America, the Middle East and Africa and Europe.

In 2018, MRFR noted that the largest share in the global Crane Market came under APAC, with North America and Europe coming in second and third, respectively. APAC’s dominance in the market is slated to remain intact over the review period. Not just this, but the region can also achieve the fastest growth rate in the given time frame, backed by the fast-expanding construction sector in countries like India, China, Indonesia, Australia and Japan. These countries are also identified as the leading markets for carry deck crane in APAC, thanks to the expansion of the infrastructure and construction industries along with the elevating financial conditions. Besides, activities like renovation and refurbishing of old buildings have boosted the investments in the construction and infrastructure industries, which further pushes the growth of the carry deck cranes market in the region.

Numerous developed countries in North America have introduced several reforms and regulations to help boost infrastructure as well as real estate, which has stimulated the demand for carry deck cranes for commercial and residential buildings.

Prominent Companies

Prominent companies that are competing in the worldwide market for carry deck crane are Bailey Specialty Crane and Aerials, LLC (US), Manitex International, Inc. (US), Manitowoc (US), Broderson Manufacturing Corp. (US), LIFT SYSTEMS, INC. (US), to name a few.

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Key Questions Addressed by the Report

• What was the historic market size?
• Which segmentation (Product/ Capacity) is driving market?
• What will be the growth rate?
• How are the key players in this market?
• What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

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

3.1.1 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

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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