Carry Deck Crane Market

Market Scope and Structure Analysis

Carry decks are small 4-wheel cranes used for lifting materials in narrow spaces which are also known as pick and carry cranes. Carry deck cranes exhibit high power compared to their small size, offering versatility and maneuverability. These carry deck cranes are ideal for lifting material with a low profile and can be used in narrow and tight spaces. Carry deck cranes can load the material onto the deck by themselves.

COVID-19 Impact Analysis

• COVID-19 pandemic has shut down the production of various products in the carry deck industry, mainly owing to the prolonged lockdown in major countries globally. This has hampered the growth of the carry deck crane market significantly in the last few months, and is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to weaken the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of the pandemic, thereby halting the demand for equipment and machinery.
• Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top Impacting Factors

Increase in demand in the construction & mining industries drives the market growth. Similarly, rise in demand for rental units for infrastructure fosters the carry deck crane market growth. In addition, fluctuation in raw material prices in the market hamper the market expansion. Moreover, increase in investments in the construction sector, renovations of old buildings and the introduction of telematics by many players in the market provide future opportunities for the market growth.

Market Trends

• New products that contain improved capabilities have been launched by the leading market players. They have taken necessary steps to improve the accuracy of devices and overall functionality as well. For instance, Broderson Manufacturing Corporation has launched its new 20Ust capacity IC 280 in February 2021. An industrial carry deck crane that incorporates multiple performances and enhanced features. It is the first product including telematics as standard equipment. This product launch has enhanced the product offerings by Broderson to sustain the competition in the carry deck crane market.
• Similarly, competitors in the carry deck cranes market adopted acquisition as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, Manitex International has acquired Tadano, in June 2018. A provider of truck and knuckle boom, carry deck cranes. This acquisition of Tadano complements the crane portfolio and expands its range of operations and services by the company.

Key Benefits of the Report

• This study presents the analytical depiction of the carry deck crane industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the carry deck crane market share.
• The current market is quantitatively analyzed to highlight the carry deck crane market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed carry deck crane market analysis based on competitive intensity and how the competition will take shape in the coming years

 Carry Deck Crane Market Report Highlights