Overhead Crane Market: Introduction
Transparency Market Research delivers key insights on the global overhead crane market. In terms of revenue, the global overhead crane market is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global overhead crane market.
The global overhead crane market is broadly affected by several factors, such as development of ports, lifting of extremely heavy objects, carrying hot objects with utmost safety and security, and wide availability in various price ranges globally, which are propelling the global overhead crane market.
Overhead Crane Market: Dynamics
In terms of product type, the overhead crane market has been divided into bridge cranes comprising single girder and double girder, gantry cranes, monorail cranes, and jib cranes. The demand for bridge overhead cranes is higher, globally. Based on maximum lifting capacity, the overhead crane market is segmented into up to 5T, 5-10T, 11-50T, 51-150T, and above 150T. Overhead cranes having maximum lifting capacity of 11-50T are widely used and have the highest market share globally.
Based on usage, the overhead crane market has been classified into Class A, Class B, Class C, Class D, Class E, and Class F. Class D is the most preferred segment, which is also the most bought class by users. The end-use industry segment comprises power & utilities, steel & aluminum, ports & shipyards, automotive, automated warehouse, mining, pulp & paper, cement, and others, of which, steel & aluminum segment have the highest share and automotive is the fastest growing sector.
Overhead Crane Market: Prominent Regions
In 2020, North America and Asia Pacific together contributed approximately 60% revenue share of the global overhead crane market. Various industries are shifting their manufacturing facilities to the APAC region. APAC is the fastest growing region of the market with a CAGR of 6%. Therefore, the market in this region is anticipated to witness the fastest growth rate during the forecast period. The market in Europe and North America is expected to grow moderately due to increasing demand for modernized material lifting equipment and overhead cranes with multiple hook systems, providing utmost safety while handling hot liquids in the mining industry. However, the demand in the upcoming years may shift due to competitive prices of bridge cranes in these regions, as many end-use industries would prefer gantry or jib cranes at a cheaper price, providing the same benefits such as safety and high level of benefits in the paper & pulp industry.
Overhead Crane Market: Key Players
Key players operating in the global overhead crane market are Weihua Group, Henan Yutian Crane Co., Ltd., Konecranes, Whiting Corporation, Zenar Corporation, DESHAZO, Virginia Crane, Ace Industries, Inc., Piedmont Hoist & Crane, Canadian Crane, Morgan Engineering Inc., Reading Crane and Engineering Co., Mass Crane And Hoist, Demag Cranes & Components Corp, Engineered Systems, Inc., Mazzella Companies, American Crane & Equipment Corporation, Capco Crane & Hoist, Inc., Comansa, and EMH, Inc. (Engineered Material Handling).
Global Overhead Crane Market: Segmentation
Overhead Crane Market, by Product Type
- Bridge Cranes
- Single Girder
- Double Girder
- Gantry Cranes
- Monorail Cranes
- Jib Cranes
Overhead Crane Market, by Maximum Lifting Capacity
- Upto 5T
- Above 150T
Overhead Crane Market, by Usage
- Class A
- Class B
- Class C
- Class D
- Class E
- Class F
Overhead Crane Market, by End-use Industry
- Power & Utilities
- Steel & Aluminum
- Ports & Shipyards
- Automated Warehouse
- Pulp & Paper
Overhead Crane Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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