0

Overhead Cranes Market Expected to Reach $5.0 billion by 2027

 
2022
Overhead Cranes Market

Report Code : A03711

quote The inclusion of automation technologies has increased the efficiencies of overhead cranes. These technologies allow remote operation as well as predictive maintenance of the equipment. Moreover, major players in the overhead cranes industry have focused on acquisition strategies to gain maximum share in the market. This also results in consolidation of the global overhead cranes market. quote

Vivek Banik
Senior Research Analyst, Construction and Manufacturing at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Overhead Cranes Market by Type, Business Type, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global overhead cranes market size is expected to reach $5.0 billion in 2027 from $3.8 billion in 2019, growing at a CAGR of 4.9% from 2020 to 2027. In 2019, Asia-Pacific dominated the market, in terms of revenue, accounting for 49.0% share of the global overhead cranes market.

Overhead cranes also known as bridge cranes or industrial cranes are utilized for material handling applications in industrial spaces. It constitutes of parallel runways with a traveling bridge and a hoist. The lifting component of a crane moves in multiple directions through the overhead space in the facility. Further, overhead cranes find applications in automotive, aerospace, shipyards, paper, utility, and other industries.

Moreover, Asia-Pacific is the highest contributor in the overhead cranes market. China holds majority of the global share in consumption mainly due to low cost of manufacturing. In addition, increase in investments on manufacturing infrastructure mainly in developing countries such as India, Bangladesh, Vietnam, and others, also boosts the demand for overhead cranes in Asia-Pacific. China’s growing automobile industry is also driving the demand for overhead cranes in the country. However, countries such as the U.S., Germany, and other European countries, are focused on developing new technologies in the overhead cranes industry to sustain their market share during the forecast period. 

According to type, double girder cranes have maximum contribution in the overhead cranes market mainly due to their versatility and high demand from automotive and aerospace industries. In addition, the demand for aftermarket services is also bolstered, owing to surge in adoption of automation technologies.

The COVID-19 pandemic has negatively affected the overhead cranes market mainly due to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user companies located in countries such as the U.S., China, Germany, the UK, and others, are also facing financial impacts due to halted production, which is expected to hinder the growth of the overhead cranes market during 2020.

The global overhead cranes market is segmented on the basis of type, business type, end user, and region. Based on type, the overhead cranes market is bifurcated into single girder and double girder. According to business type, the global overhead cranes market is categorized into original equipment manufacturer (OEM) and aftersales. By application, the market is classified into automotive, metal & mining, paper, utility, aerospace, shipyards, and others.

The global overhead cranes market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period, and LAMEA is expected to grow at the fastest rate.

Key Findings Of The Study

  • By type, the double girder segment dominated the overhead cranes market share in 2019.
  • By business type, the original equipment manufacturers (OEM) segment dominated the overhead cranes market during 2019.
  • Depending on end user, the automobile segment garnered major share of the overhead cranes market in 2019.
  • Region wise, Asia-Pacific dominated the market in 2019.
  • LAMEA is expected to witness a high growth rate during the forecast period.  

The major players operating in the overhead cranes industry include botek ABUS Kransysteme GmbH, Columbus McKinnon Corporation (CMCO), EMH, Inc., GH Cranes & Components, Gorbel Cranes, Kito Corporation, Konecranes Plc., Ralf Teichmann GmbH, Sumitomo Heavy Industries Material Handling Systems Co., Ltd., and Weihua Group.   

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Overhead Cranes Market by Type (Single Girder and Double Girder), Business Type (OEM and Aftersales), and End User (Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Overhead Cranes Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers