Carry Deck Industrial Cranes Market To Reach USD 981.8 Million By 2032, Says DataHorizzon Research
The carry deck industrial cranes market size was valued at USD 644.7 Million in 2023 and is expected to reach a market size of USD 981.8 Million by 2032 at a CAGR of 4.8%.
Fort Collins, Colorado, May 09, 2024 (GLOBE NEWSWIRE) -- *
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*The rise in infrastructure developments has encouraged the carry deck industrial cranes industry growth.*
The *carry deck industrial cranes market* is witnessing substantial growth, primarily fueled by the growing number of infrastructure development projects worldwide. Governments globally are investing in constructing and upgrading facilities, generating a significant demand for efficient material handling equipment such as carry deck cranes. For instance, according to the Global Infrastructure Hub, the projected global infrastructure investment needs are set to reach USD 94 trillion by 2040. The rise in the manufacturing sector also contributes to the market's expansion, particularly in emerging economies. As manufacturing facilities require hefty components and machinery, carry deck cranes have become indispensable for streamlining manufacturing processes.
Another pivotal factor propelling the demand for carry deck industrial cranes is the increasing emphasis on workplace safety and efficiency. Businesses are progressively embracing advanced lifting solutions to mitigate the risk of accidents and ensure adherence to stringent safety regulations. Carry deck cranes offer augmented safety features, including precise load control and enhanced stability, rendering them a favored choice across various industries. Furthermore, these cranes are engineered to optimize productivity by furnishing swift and efficient material handling capabilities. According to the Occupational Safety and Health Administration (OSHA), implementing proper crane safety protocols can significantly diminish workplace accidents, thereby further incentivizing the adoption of carry deck cranes.
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*Segmentation Overview:*
*The carry deck industrial cranes market has been segmented into capacity, business model, end-use vertical, and region.*
*The construction and infrastructure will dominate in the forecast period.*
· Based on the market segmentation by end-use, the construction and infrastructure segment dominated the carry deck industrial cranes market in 2023. The construction industry heavily relies on cranes for various lifting and material handling tasks, from building construction to infrastructure projects.
*The 5-15 tons capacity accounted for a significant share in the forecast period.*
· Based on the market segmentation by capacity, the 5-15 tons segment held the largest carry deck industrial cranes market share in 2023. This segment's dominance can be attributed to the versatility and broad applicability of cranes, which have this capacity range across various industries.
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*Carry Deck Industrial Cranes Market Report Highlights:*
· The carry deck industrial cranes market growth is anticipated at a *CAGR of 4.8% by 2032.*
· Factors such as infrastructure development and expansion in the manufacturing industry encourage market development.
· Asia-Pacific is projected to be the fastest-growing region in the carry deck industrial cranes market in the near future. The rapid industrialization, urbanization, and infrastructure development in countries like China, India, and Southeast Asian nations are driving the demand for carry deck cranes in the region.
· Some prominent players in the carry deck industrial cranes market report include Manitex International, Terex Corporation, Broderson Manufacturing Corp., Manitowoc Company, Konecranes, Tadano Ltd., Liebherr Group, Sany Group, XCMG Group, Zoomlion Heavy Industry Science & Technology Co., Ltd., and Sumitomo Heavy Industries, Ltd.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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