Global Overhead Cranes Market
Dublin, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The "Overhead Cranes Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global overhead cranes market.
This report focuses on overhead cranes market which is experiencing strong growth. The report gives a guide to the overhead cranes market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global overhead cranes market is expected to grow from $4.02 billion in 2021 to $4.26 billion in 2022 at a compound annual growth rate (CAGR) of 5.8%. The overhead cranes market is expected to grow to $5.36 billion in 2026 at a CAGR of 5.9%.
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Major players in the overhead cranes market are 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., Weihua Group, Cargotec Corporation, Ace Industries, Inc., Eilbeck Cranes, American Crane & Equipment Corporation, Henan Yutian Crane Co. Ltd., Whiting Corporation, and Zenar Corporation.
The overhead cranes market consists of the sale of biomaterials and related products by entities (organizations, sole traders, and partnerships) that refers to heavy-duty machinery, which 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.
The main types of overhead cranes include bridge cranes, gantry cranes, monorail cranes, and jib cranes, which are available in both single girder and double girder formats. The bridge cranes market segment consists of the sale of bridge cranes by entities (organizations, sole traders, and partnerships), which consists of two parallel runways incorporated into the support structure of a building, and the crane is moved horizontally along the runways by a single or double girder structure known as a bridge, and the trolley and hoist travel side-by-side along the bridge.
These cranes are used for multi-directional movement of materials to help with storing, manufacturing, unloading, or loading works. These cranes are operated through electric, hydraulic and hybrid systems, and they are used in automotive, metals & mining, paper, utility, aerospace, shipyard, and other end-user industries.
Asia-Pacific was the largest region in the overhead cranes market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the overhead cranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increasing automation of various activities in industrial space is driving 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.
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.
In January 2022, American Equipment Holdings, a USA-based provider of overhead cranes and hoists acquired Eastern Crane and Hoist, a South-California-based provider of overhead crane systems, and maintenance, repair, overhaul field services (MRO) for an undisclosed amount. The acquisition by American Equipment is focused on expanding its geographic footprint in production and MRO in the overhead crane systems and hoists sector.
The countries covered in the overhead cranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
No. of Pages
2022 - 2026
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2026
Compound Annual Growth Rate
Key Topics Covered:
1. Executive Summary
2. Overhead Cranes Market Characteristics
3. Overhead Cranes Market Trends And Strategies
4. Impact Of COVID-19 On Overhead Cranes
5. Overhead Cranes Market Size And Growth
5.1. Global Overhead Cranes Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Overhead Cranes Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Overhead Cranes Market Segmentation
6.1. Global Overhead Cranes Market, Segmentation By Product Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Overhead Cranes Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.3. Global Overhead Cranes Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Metal And Mining
Other End User
6.4. Global Overhead Cranes Market, Segmentation By Operation Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Overhead Cranes Market Regional And Country Analysis
7.1. Global Overhead Cranes Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Overhead Cranes Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
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