Overhead Cranes Market Overview:
The global overhead cranes market size is expected to reach $5,767.5 million by 2025, from $4,355.1 million in 2017, growing at a CAGR of 3.6% from 2018 to 2025. Overhead crane is machine used to lift heavy loads that is equipped with parallel runways with a traveling bridge and a hoist, and is operated manually. It is majorly used to carry out loading and unloading activities in various manufacturing and storage industries.
The key factor that drives the growth of the global overhead cranes market is increase in government investment for infrastructure development. Moreover, minimized labor cost and reduced product damage have boosted the demand for overhead cranes in various industrial applications. Furthermore, various industries are investing in domestic manufacturing sector, which is anticipated to provide lucrative growth opportunities to small players in the market. In addition, overhead crane reduces the operational time and automated system used in overhead crane increases the precision of work, thereby increasing the demand for overhead cranes. However, lack of skilled operator and high lead time in supply chain are expected to hinder the market growth.
The global overhead cranes market is segmented by solution, end user, and region. The solutions segment includes various products and services related to overhead cranes. The product segment is further divided into bridge cranes, gantry cranes, and others (goliath crane, monorail crane, and workstation crane). The bridge cranes include single girder bridge cranes and double girder bridge cranes. The service division is subsegmented into maintenance, repair, and other (inspection, design, and training). On the basis of end user, the market is categorized into automotive, metal & mining, paper, aerospace, utility, shipyards, and other (chemical, logistics, transportation, and food & beverage). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2017, Asia-Pacific contributed the highest share in the overhead cranes market, and is anticipated to secure the leading position during the forecast period, owing to the presence of key manufacturing companies and significant investment in the manufacturing sector.
The key players analyzed in the report include ABUS Kransysteme GmbH, CARGOTEC, Columbus McKinnon Corporation, Engineered Material Handling Inc., GH Cranes & Components, Gorbel Cranes, KITO CORP., Konecranes Plc., Sumitomo Heavy Industries Ltd., and Weihua Group.
Overhead Cranes Key Market Segments:
By End User
Metal and Mining
Rest of Europe
Rest of Asia-Pacific
ABUS Kransysteme GmbH
Columbus McKinnon Corporation
Engineered Material Handling Inc.
GH Cranes & Components
Sumitomo Heavy Industries Ltd.