The global overhead cranes market size was estimated at USD 5.18 billion in 2023 and is projected to grow and at a CAGR of 6.8% from 2024 to 2030. The market is witnessing robust growth due to rising demand across several end-user industries, such as manufacturing, construction, automotive, and power generation. As these sectors expand, they require efficient material handling solutions to manage increased workloads and improve productivity. Overhead cranes enable heavy lifting and the transport of goods, which is essential for meeting the increased output requirements of these industries.
Rapid urbanization and increasing infrastructure development across the globe are driving the demand for overhead cranes. Governments are investing heavily in infrastructure projects such as bridges, highways, and power plants, which require substantial lifting equipment such as overhead cranes. Overhead cranes are essential for their versatility in lifting and transporting materials across construction sites. Thus, rising government investments in infrastructure projects and a growing focus on sustainable building practices are fueling the market's growth.
Technological advancement is a pivotal trend in the overhead crane market. Integrating advanced technologies such as automation, variable-speed drives, and automated positioning systems enhances operational efficiency and precision in material handling. These advancements reduce total production time and minimize personnel costs. Safety features such as collision avoidance systems and overload protection have become increasingly important to improve worker safety and reduce the rate of accidents. The ongoing development of remote monitoring capabilities allows for real-time performance tracking and predictive maintenance, further optimizing crane operations and thereby driving the market's growth.
Furthermore, sustainability is emerging as a core focus for industries worldwide. Manufacturers are innovating to produce energy-efficient cranes that consume less power and reduce carbon footprints. Technologies such as regenerative drives and lightweight materials are being utilized to enhance energy efficiency. Additionally, companies are demanding cranes that can integrate with renewable energy sources. Thus, as industries move toward greener practices, the demand for sustainable lifting solutions is expected to increase, and contribute to the market's growth.
The high initial investment needed for purchasing and maintaining overhead cranes is a major factor that could hamper market growth. Ongoing maintenance expenses, such as regular inspections and component replacements, can add up over time, resulting in a long-term financial burden for companies. The time-consuming and costly nature of inspections varies based on the crane's size and complexity. These inspection costs can be a significant barrier for small businesses or those with limited budgets. However, the advantages of regular overhead crane inspections far outweigh the drawbacks, as they ensure the safety of both workers and equipment while helping companies maintain productivity and profitability.
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Rapid urbanization and increasing infrastructure development across the globe are driving the demand for overhead cranes. Governments are investing heavily in infrastructure projects such as bridges, highways, and power plants, which require substantial lifting equipment such as overhead cranes. Overhead cranes are essential for their versatility in lifting and transporting materials across construction sites. Thus, rising government investments in infrastructure projects and a growing focus on sustainable building practices are fueling the market's growth.
Technological advancement is a pivotal trend in the overhead crane market. Integrating advanced technologies such as automation, variable-speed drives, and automated positioning systems enhances operational efficiency and precision in material handling. These advancements reduce total production time and minimize personnel costs. Safety features such as collision avoidance systems and overload protection have become increasingly important to improve worker safety and reduce the rate of accidents. The ongoing development of remote monitoring capabilities allows for real-time performance tracking and predictive maintenance, further optimizing crane operations and thereby driving the market's growth.
Furthermore, sustainability is emerging as a core focus for industries worldwide. Manufacturers are innovating to produce energy-efficient cranes that consume less power and reduce carbon footprints. Technologies such as regenerative drives and lightweight materials are being utilized to enhance energy efficiency. Additionally, companies are demanding cranes that can integrate with renewable energy sources. Thus, as industries move toward greener practices, the demand for sustainable lifting solutions is expected to increase, and contribute to the market's growth.
The high initial investment needed for purchasing and maintaining overhead cranes is a major factor that could hamper market growth. Ongoing maintenance expenses, such as regular inspections and component replacements, can add up over time, resulting in a long-term financial burden for companies. The time-consuming and costly nature of inspections varies based on the crane's size and complexity. These inspection costs can be a significant barrier for small businesses or those with limited budgets. However, the advantages of regular overhead crane inspections far outweigh the drawbacks, as they ensure the safety of both workers and equipment while helping companies maintain productivity and profitability.
Global Overhead Cranes Market Report Segmentation
The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, the analyst has segmented the overhead cranes market based on type, lifting capacity, end-use industry, and region.Type Outlook (Revenue, USD Million, 2018 - 2030)
- Gantry Cranes
- Jib Cranes
- Bridge Cranes
- Others
Lifting Capacity Outlook (Revenue, USD Million, 2018 - 2030)
- Up to 5 Ton
- 6-10 Ton
- 11-50 Ton
- More Than 50 Ton
End Use Industry Outlook (Revenue, USD Million, 2018 - 2030)
- Manufacturing
- Automotive and Transportation
- Construction
- Metal and Mining
- Power and Utilities
- Ports and Shipyards
- Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Middle East & Africa (MEA)
- UAE
- Kingdom of Saudi Arabia (KSA)
- South Africa
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
The leading players in the Overhead Cranes market include:
- Konecranes,
- Indef Manufacturing Limited
- American Crane & Equipment Corporation
- Dongqi Crane
- Aicrane
- WeiHuaCrane
- Munck Cranes Inc.
- Columbus McKinnon Corporation.
- Tri-State Overhead Crane
- Hoosier Crane Service Company.
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
Chapter 4. Overhead Cranes Market: Type Estimates & Trend Analysis
Chapter 5. Overhead Cranes Market: Lifting Capacity Estimates & Trend Analysis
Chapter 6. Overhead Cranes Market: End-use Industry Estimates & Trend Analysis
Chapter 7. Overhead Cranes Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Konecranes,
- Indef Manufacturing Limited
- American Crane & Equipment Corporation
- Dongqi Crane
- Aicrane
- WeiHuaCrane
- Munck Cranes Inc.
- Columbus McKinnon Corporation.
- Tri-State Overhead Crane
- Hoosier Crane Service Company.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | October 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 5.18 Billion |
| Forecasted Market Value ( USD | $ 8.2 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
