What Market Size and Growth Rate Does the Overhead Cranes Market Forecast Indicate?
Overhead cranes market size has demonstrated substantial progress in recent years. It is projected to surge from $4.79 billion in 2024 to $5.09 billion in 2025, marking a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this rise include the burgeoning manufacturing and industrial sectors, expanding construction and infrastructure projects, increasing demand for efficient material handling and lifting solutions, and governmental investment in infrastructure development. The overhead cranes market is forecast to maintain this strong growth momentum, ballooning up to $6.66 billion in 2029 at a CAGR of 7.0%. Future growth will be propelled by the adoption of electric and hybrid cranes, lightweight and compact crane designs, a booming e-commerce and logistics industry, and ongoing research and development for autonomous crane operation.
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What Driving Factors Are Contributing to the Overhead Cranes Market Growth?
An uptick in the automation of various industrial operations is the primary driver stimulating the overhead cranes market. With automation reducing the burden of labour-intensive tasks such as heavy goods lifting and transfer, industrial productivity surges and lead production time shortens. The advantages of overhead cranes and rapid technological advancements have increased industrial reliance, yielding cost-effective methods and safe operational conditions for heavy product transfers.
What Are the Segments of the Overhead Cranes Market?
1) By Product Type: Bridge Cranes, Gantry Cranes, Monorail Cranes, and Jib Cranes
2) By Type: Single Girder and Double Girder
3) By Operation Type: Electric, Hydraulic, and Hybrid
4) By End User: Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, and Other End Users
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Which Key Players Operate in the Overhead Cranes Market?
Renowned 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, and Spanco Inc.
What Market Trends Are Evident in the Overhead Cranes Market?
Market trends include product innovations that are transforming the overhead cranes market landscape. Renowned players are developing advanced product technologies in crane ropes and control systems to enhance operational efficiency and early maintenance detection. For instance, in August 2024, Konecranes launched the Konecranes X-series crane, a state-of-the-art industrial crane with a lifting capacity of up to 20 tons.
Which Region Holds The Gordon’s Share of the Overhead Cranes Market?
Asia-Pacific was the largest region in the overhead cranes market in 2024, and North America is expected to be the fastest-growing region in the forecast period. The regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The Overhead Cranes Market Report 2025 Offer?
Overhead cranes are heavy-duty machineries used for transporting extremely heavy goods and equipment in a precise manner using overhead space inside a facility. They are integral in tasks like moving materials, lifting dies from stamping machines, loading and unloading heavy goods and machinery, and feeding raw materials. The Overhead Cranes Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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