Global Overhead Cranes Market Size & Growth Trends Analysis Report

The major driving factor propelling the overhead crane market is the worldwide trend of urbanization and industrialization. The demand for manufacturing and building operations is rising as nations continue to modernize and urbanize, especially in emerging economies. This includes the growth of manufacturing facilities, assembly lines, and industrial complexes, where overhead cranes are essential for effectively lifting and moving bulky items in constrained spaces. Another important element driving the overhead crane market is the growth of infrastructure, especially in developing countries. The need for cranes rises when nations make investments in major infrastructure projects including highways, bridges, airports, and high-rise structures. Heavy items like steel beams, concrete blocks, and machinery must be transported and lifted for these operations; overhead cranes are the perfect tool for these jobs. The productivity and safety of overhead cranes have been greatly improved by the increasing use of automation and smart technology in industrial operations, which has increased their appeal to companies in a variety of industries. Automation in material handling systems, including automatic overhead cranes that can move objects without human assistance, increases operational efficiency and lowers the possibility of accidents at work.

Due to the necessity of cranes for managing parts in production facilities and car assembly, the automotive industry also has a large demand for overhead head cranes. Mitsubishi Logisnext and Street Crane are well-known for their dependable crane solutions specifically designed for the automotive and construction industries. Meanwhile, the growth of e-commerce and worldwide trade have raised demand for the shipping and warehousing sectors, necessitating the use of effective material handling technologies. With specialized cranes made for handling containers and huge freight operations, companies such as Cargotec have been successful in providing services to ports and the shipping industry. The overhead cranes are also used in multiple industries such as aerospace, mining, and food & beverage, among others.

Organisations that oversee the market and make sure performance and safety requirements are satisfied include the European Committee for Standardisation (CEN) and the Occupational Safety and Health Administration (OSHA) in the U.S.. To address the changing needs of the market, startups such as Konecranes, Street Crane, and Gorbel Inc. are succeeding by concentrating on cutting-edge technology like automation and smart cranes.

The smaller businesses may be discouraged from using these overhead crane systems due to market constraints, such as expensive startup and ongoing expenses. The safe operation of overhead cranes is further complicated by issues with the handling of heavy machinery and a shortage of qualified operators. The adoption of intelligent and automated cranes, driven by artificial intelligence (AI) and the Internet of Things (IoT), which improve operating efficiency and decrease downtime, is one area of opportunity in the industry. Furthermore, businesses have an opportunity to innovate and gain market share due to the growing emphasis on eco-friendly and energy-efficient solutions.

Impact of COVID-19

The market for overhead cranes was significantly impacted by the COVID-19 outbreak. Global supply chains were thrown off balance during the pandemic's early stages, which led to delays in the manufacture and delivery of cranes and related parts. Lockdowns and other limitations caused many industrial and construction projects to be halted or slowed down, which decreased the need for overhead cranes. Production of cranes and maintenance services were also impacted by labor shortages and limitations on manufacturing activities.

However, owing to the increased reliance on online purchasing and distribution networks, several businesses, such as e-commerce, warehousing, and logistics, saw a spike in demand when economies started to recover. To increase productivity and handle the expanding amount of commodities, automated material handling systems, including overhead cranes, were adopted more quickly as a result. Furthermore, the push for automation and contactless operations in numerous industries, spurred by safety concerns and labor shortages, offered potential for advanced, automated overhead crane systems.

In the long term, the pandemic brought attention to the need for robust and adaptable supply chains, prompting businesses to make investments in technology that increase output and lessen reliance on manual labor. This is anticipated to fuel the market for overhead cranes' post-pandemic expansion.

Segmentation

The global overhead cranes market is segmented into crane type, lifting mechanism, loading capacity, business type, and end-use industry. By crane type, the market is segmented into single girders, double girders, bridge cranes, monorail cranes, jib cranes, and others. Single-girder cranes are often employed in light-duty applications such as small-scale manufacturing and warehousing, where loads are lighter and spans are shorter. Conversely, double-girder cranes are the standard for heavy-duty applications; these are frequently found in shipyards, the steel industry, and auto factories, among other places where heavy lifting is essential. Important companies in this market include Konecranes and Demag Cranes, which provide sophisticated safety and automation features for both single- and double-girder cranes. The logistics and transportation industries have a strong demand for gantry cranes, which are utilized in outdoor environments such as shipping ports and big building sites. Shanghai Zhenhua Heavy Industries (ZPMC) is one company that excels in this market.

By lifting mechanism, the market is bifurcated into electric wire rope hoist cranes, and electric chain hoist cranes. Based on loading capacity, the market is segmented into very heavy duty (over 200 tons), heavy-duty (50-200 tons), medium duty (10-50 tons), and light duty (up to 10 tons). By business type, the market is segmented into original equipment manufacturers, and aftermarket. By end-user industry, the market is segmented into automotive, manufacturing, aerospace, construction, logistics & transportation, mining, food & beverage, utilities, and others. One significant driver for the overhead cranes market is the global boom in infrastructure building, particularly in emerging economies, which propels the construction sector. Large-scale projects require overhead cranes because they are essential for moving big items around on building sites.

This thorough segmentation shows how diverse the overhead crane market is and how, in order for businesses to remain competitive and gain market share, they must customize their products to fit the unique requirements of each type, industry, and geographic region.

Regional Analysis

The overhead cranes market's geographical analysis identifies important patterns, potential growth areas, and growth drivers in several regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Owing to the region's sophisticated industrial infrastructure and extensive use of automation in material handling and production, North America is a major market for overhead cranes. The automotive, aerospace, and construction industries have considerable demand, and the U.S. and Canada are two of the market's largest providers. Two significant growth causes are the rise in investments in infrastructure projects and the use of automated, smart cranes to increase operational efficiency. Strong regional presences include Konecranes and Gorbel Inc., which provide sophisticated, automated crane systems tailored to the demands of the logistics and advanced manufacturing sectors. The demand for cranes in this region is also fuelled by the growth of e-commerce and the requirement for effective warehousing and distribution solutions.

In Europe, there is a strong need for cranes in the transportation, aerospace, and automotive sectors. Driven by continued infrastructure development, technical breakthroughs, and industrial automation, Germany, the UK, France, and Italy are the top markets in Europe. Additionally, the European market is renowned for its strict environmental and safety laws, which have prompted the creation of safe and energy-efficient crane systems. Major players in the European crane market, such as Demag Cranes and Street Crane, provide creative crane solutions that meet EU regulations. Furthermore, the growth of wind farms and other renewable energy projects around Europe is increasing the need for specialized cranes that can handle big parts.

Due to the fast industrialization and urbanization of nations like China, India, and Japan, the Asia-Pacific region currently has the biggest market share in the global market for overhead cranes. Overhead cranes are in high demand due to the region's constantly growing manufacturing and construction sectors. The crane market has expanded as a result of China's Belt and Road Initiative and large-scale infrastructure projects; Shanghai Zhenhua Heavy Industries (ZPMC) is a prominent player in the port and logistics sectors. The need for overhead cranes is also being driven by India's expanding steel, automotive, and construction sectors, with regional producers such as Tata Steel Cranes gaining traction. The Asia-Pacific market is expanding as a result of the growing use of automation and smart cranes in industrial settings. Overhead cranes and other material-handling equipment are in high demand due to the region's expanding e-commerce and logistics industries.

Infrastructure development, particularly in Brazil, is propelling the expansion of the overhead crane market in Latin America. The growing construction, mining, and logistics sectors in the region are driving up demand for cranes to lift large loads and boost productivity. However, certain countries' lack of modern infrastructure and economic instability pose obstacles to market expansion. Despite these obstacles, local opportunities are being taken advantage of by businesses such as Herboflora and Anahuac, especially in the mining and energy industries. Overhead crane producers in Latin America can benefit from the growth of ports and shipping facilities, particularly in coastal areas.

The market for overhead cranes in the Middle East and Africa (MEA) region is steadily expanding owing to investments in infrastructure, projects involving oil and gas, and industrial growth. Key markets include Saudi Arabia, the United Arab Emirates (UAE), and South Africa, where there is a need for cranes in the energy, logistics, and construction industries. For the handling of materials in major building projects such as airports, metros, and industrial complexes in the Middle East, overhead cranes are indispensable. The need for cranes in Africa to carry heavy machinery and commodities is increasing due to the continent's expanding mining and energy sectors. In these regions, businesses such as Hamdard Laboratories and House of Nutriherbs are doing well by providing local industry with specialized crane solutions. But the region also has to deal with issues including inconsistent regulations, a lack of skilled labor, and unstable economic conditions, all of which can impede market expansion.

Competitive Analysis

The key players in the global overhead crane industry 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., and Weihua Group, among others.

BF Engineering received wire rope pulley blocks and Pfaff-Silber Blau BETA-EL4 series wire rope winches in April 2022 from Columbus McKinnon Engineered Products. These parts were utilized in a climate chamber to provide variable, height-adjustable solar simulation on prototype hydrogen-powered vehicles. Similarly, in 2022, in a record-breaking five months, TEICHMANN CRANES delivered a 45-ton x 40-metre container gantry crane to Belgium.

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The global overhead cranes market is segmented as follows:

By Crane Type (Revenue: USD Billion, 2019 – 2031)
●    Single Grider
●    Double Girder
●    Bridge Crane
●    Gantry Crane
●    Monorail Crane
●    Jib Crane
●    Others

By Lifting Mechanism (Revenue: USD Billion, 2019 – 2031)
●    Electric Wire Rope Hoist Crane
●    Electric Chain Hoist Crane

By Loading Capacity (Revenue: USD Billion, 2019 – 2031)
●    Very Heavy Duty (Over 200 tons))
●    Heavy Duty (50-200 tons)
●    Medium Duty (10-50 tons)
●    Light Duty (upto 10 tons)

By Business Type (Revenue: USD Billion, 2019 – 2031)
●    Original Equipment Manufacturer (OEM)
●    Aftermarket

By End-Use Industry (Revenue: USD Billion, 2019 – 2031)
●    Automotive
●    Manufacturing
●    Aerospace
●    Construction
●    Logistics & Transportation
●    Mining
●    Food & Beverage
●    Utilities
●    Others

By Region (Revenue: USD Billion, 2019 – 2031)

● North America
o U.S.
o Canada
o Mexico

● Europe
o U.K.
o France
o Germany
o Italy
o Spain
o Rest of Europe

● Asia Pacific
o China
o Japan
o India
o South Korea
o South East Asia
o Rest of Asia Pacific

● Latin America
o Brazil
o Argentina
o Rest of Latin America

● Middle East & Africa
o GCC Countries
o South Africa
o Rest of Middle East & Africa