Overhead cranes are used to lift, move, or displace heavy loads in various end-use industries. These cranes have a parallel runway with a hoist and a traveling bridge. The lifting component of overhead cranes moves in multiple directions through the overhead space. Overhead cranes are primarily used to perform indoor loading and unloading activities in manufacturing and storage facilities. These cranes are also used to carry out outdoor lifting operations in shipping ports. Unlike other types of cranes, overhead cranes are majorly used in manufacturing or maintenance applications, where efficiency and downtime plays a crucial role.
Overhead cranes are able to maximize productivity, transport goods at a fast pace, move objects around any facility, and also offers a range of other benefits such as increased safety, improved load control, and easy lifting of loads. Overhead cranes come with precision controls which help to position different heavy goods precisely and allows the operator to place the load in the right place. Hence, it helps to minimize human error.
The market for overhead cranes worldwide is primarily driven by increase in investment by governments for development of various infrastructure; these cranes are reliable and efficient. Moreover, handling heavy loads is a crucial task in different industrial applications. Hence, multiple forklifts are replaced by overhead cranes to reduce labor cost and human intervention which in turn increases workplace safety. Overhead cranes can work on any plant and can be customized as per the requirement with any other tools to complete various operations. Hence, these cranes are flexible to operate in any industrial application. Also, automated systems used in the overhead cranes improve the work precision, reduces operational time, and reduces product damage. All these factors are primarily driving the growth of the overhead cranes market across the globe. However, lack of skilled operators and high lead time in supply chain are some of the factors that are restraining the growth of the overhead cranes market.
The global overhead cranes market can be segmented based on type, solution, end-use, and geography. Based on type, the market can be bifurcated into single girder overhead cranes, and double girder overhead cranes. In terms of solution, the overhead cranes market can be classified into product, and services. Further, the product segment is divided into bridge cranes, gantry cranes, monorail cranes, JIB cranes, and workstation cranes. Services segment is bifurcated into maintenance, repair, and others. Based on end-use, the market can be segmented into automotive, metal and mining, paper, utility, aerospace, warehouse, and others. The automotive end-use segment dominates the market as overhead cranes can be used instead of traditional cranes to lift heavy components in this industry. In terms of geography, the global overhead cranes market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific region is dominating the overhead cranes market at the global level due to its diverse industry verticals. In addition, various local players are investing in the manufacturing sector, which is adding fuel to the demand for material handling equipment such as overhead cranes.
The global overhead cranes market is expected to become more competitive in the near future, due to new product launches and collaborations. Moreover, with the entry of new vendors, the competitive environment among players in the overhead cranes market will intensify in the coming years. Prominent players operating in the global overhead cranes market are Sumitomo Heavy Industries Ltd., CARGOTEC, Henan Mine, ABUS Kransysteme GmbH, Terex, Eilbeck Cranes, ZPMC, Jinrui, GH Cranes & Components, Henan Shengqi, Engineered Material Handling Inc., Gorbel Cranes, KITO CORP., Columbus McKinnon Corporation, Konecranes Plc, and Weihua Group.
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