Overhead Cranes Market Analysis, Growth Forecast 2024-2033

Overview and Scope
Overhead cranes refer to heavy-duty machinery that is capable of moving extremely heavy loads and equipment from one location to another in a precise manner using overhead space inside the facility. These cranes differ by size, type, shape, and configuration with components and accessories. They are widely used in moving materials, lifting dies from stamping machines, loading and unloading heavy goods and machinery, and feeding raw materials.

Sizing and Forecast
The overhead cranes market size has grown strongly in recent years. It will grow from $4.54  billion in 2023 to $4.83  billion in 2024 at a compound annual growth rate (CAGR) of 6.5%.  The growth in the historic period can be attributed to growth in manufacturing and industrial sectors, expansion of construction and infrastructure projects, need for efficient material handling and lifting solutions, government investments in infrastructure development, demand for heavy lifting capabilities in ports and shipyards.

The overhead cranes market size is expected to see strong growth in the next few years. It will grow to $6.23  billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.  The growth in the forecast period can be attributed to adoption of electric and hybrid cranes for green operations, focus on lightweight and compact crane designs, expansion of e-commerce and logistics industries, emphasis on customized and specialized crane solutions, research and development in autonomous crane operation. Major trends in the forecast period include use of advanced materials for crane components, anti-collision and safety systems, crane telematics and fleet management systems, energy-efficient and regenerative crane systems, smart grid integration for grid-connected cranes.

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Segmentation & Regional Insights
The overhead cranes market covered in this report is segmented –
1) By Product Type: Bridge Cranes, Gantry Cranes, Monorail Cranes, Jib Cranes
2) By Type: Single Girder, Double Girder
3) By Operation Type: Electric, Hydraulic, Hybrid
4) By End User: Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, Other End Users

Asia-Pacific was the largest region in the overhead cranes market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the overhead cranes market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increase in automation of various activities in industrial space is driving the growth of the  demand for the overhead cranes market. The automation of manpower-intensive practices such as lifting and movement of heavy goods in the industrial sector increases the productivity in the manufacturing process and reduction in lead time for production. The advantages of overhead cranes, as well as advancements in crane technology, are increasing industrialists’ confidence in their use since these cranes are cost-effective and provide entirely safe operations when carrying heavy products/goods. For instance, in February 2021, according to Modern Materials Handling’s 2021 Automation Solutions Study, 34% of the 123 readers who took part in the 2021 automation study work for companies with revenues of less than $10 million, and 18 percent work for enterprises with revenues of $10 million to $49.9 million. The majority of respondents (59%) work in the manufacturing industry, while 28%, work in non-manufacturing industries such as warehousing, retail, or with a third-party logistics provider. Labeling automation increased from 13% last year to 16% this year and one-third of the respondents reported using hoists, cranes, and monorails.

Key Industry Players
Major companies operating in the overhead cranes market include  ABUS Kransysteme GmbH, Columbus McKinnon Corporation (CMCO), EMH Inc., GH Cranes & Components, Gorbel Cranes, Ace Industries Inc., American Crane & Equipment Corporation, Cargotec Corporation, Eilbeck Cranes, Henan Yutian Crane Co. Ltd., Kito Corporation, Konecranes PLC., Ralf Teichmann GmbH, Sumitomo Heavy Industries Material Handling Systems Co. Ltd., Weihua Group, Whiting Corporation, Zenar Corporation, Dafang Crane, Demag Cranes & Components GmbH, HENAN DONGQI MACHINERY Co Ltd, Liebherr-International Deutschland GmbH, Rotrex Winches, Rud Ketten Rieger & Dietz GmbH u. Co KG, Rusch Kraantechniek BV, Ryders Winch International, Spanco Inc., Sumitomo Heavy Industries Material Handling Systems Co.Ltd., White Crane Compamy Inc.

The overhead cranes  market report table of contents includes:
             1. Executive Summary

2. Overhead Cranes Market Characteristics
3. Overhead Cranes Market Trends And Strategies
4. Overhead Cranes Market – Macro Economic Scenario
5. Global Overhead Cranes Market Size and Growth
6. Overhead Cranes Market Segmentation
7. Overhead Cranes Market Regional And Country Analysis

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33. Key Mergers And Acquisitions In The Overhead Cranes Market
34. Overhead Cranes Market Future Outlook and Potential Analysis
35. Appendix

List Of Tables :

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Overhead Cranes Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Overhead Cranes Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Overhead Cranes Market, Segmentation By Operation Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 75: ABUS Kransysteme GmbH Financial Performance

Table 76: Columbus McKinnon Corporation (CMCO) Financial Performance

Table 77: EMH Inc. Financial Performance

Table 78: GH Cranes & Components Financial Performance

Table 79: Gorbel Cranes Financial Performance

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