The Overhead Cranes Global Market Report 2023 by The Business Research Company, provides overhead cranes market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Overhead Cranes Global Market Report 2023, the market size is expected to grow from $4.28 billion in 2022 to $4.55 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the overhead cranes market is expected to grow to $5.72 billion in 2027 at a CAGR of 5.9%.
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.
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The overhead cranes market is segmented:
1) By Product Type: Bridge Cranes, Gantry Cranes, Monorail Cranes, Jib Cranes
2) By Type: Single Girder, Double Girder
3) By End User: Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, Other End Users
4) By Operation Type: Electric, Hydraulic, Hybrid
Product innovations are shaping the overhead cranes market. The key players operating in the overhead cranes market are developing innovative product technologies in crane ropes, such as synthetic ropes, to increase the operational performance of the systems and performance diagnostics solutions for early detection of maintenance of the cranes. For instance, in June 2021, Konecranes Oyj, a Finnish company that manufactures and services cranes and lifting equipment, launched its sixth generation of mobile harbor cranes. The sixth generation of mobile harbor cranes is engineered for electric power, so that these cranes can also run on battery power, cutting fuel and maintenance costs and helping Konecranes’ customers meet their low-carbon targets.
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. Overhead Cranes Market Size And Growth
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26. Africa Overhead Cranes Market
27. Overhead Cranes Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Overhead Cranes Market
29. Overhead Cranes Market Future Outlook and Potential Analysis
30. Appendix
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Top Major Players:
ABUS Kransysteme GmbH
Columbus McKinnon Corporation (CMCO)
EMH Inc.
GH Cranes & Components
Gorbel Cranes
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