Gantry Crane Market is Forecast to Surpass a Valuation of US$ 3 billion by 2031

The global gantry crane market is anticipated to surpass a valuation of US$ 3 billion by 2031, expanding at a healthy CAGR of approximately 6% throughout the 2021-2031 forecast period, according to a recently published report on the subject by award-winning consulting firm Fact.MR. Rapid expansion of key public infrastructure such as shipyards, airports, seaports and highways are majorly driving market growth.

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Key end users are leaning towards lightweight, portable and easy-to-use gantry cranes, such as those manufactured from aluminum, in order to attain greater economies of scale with respect to production. Additionally, emphasis on connected technologies, including IoT-enabled GPS powered gantry cranes, are also surging in popularity.

For instance, in February 2021, Konecranes collaborated with telecommunications company Telia to optimize port operations with 5G technology and analytics, including monitoring port handling equipment such as gantry cranes across Finland. Likewise, Schildknecht offers the DATAEAGLE 7050 gateway with various fieldbus interfaces to be mounted on rubber tired gantry cranes.

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Prominent gantry crane manufacturers as profiled by Fact.MR are as follows:

JASO Industrial Cranes
Aicrane Machinery Group
Doosan Heavy Industries Vietnam Co.
Shanghai Zhenhua Heavy Industries Co. Ltd.
Mi-Jack Products
TNT Crane & Rigging
Liebherr Group

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Key Takeaways from Market Study

By application, gantry cranes for construction activities are expected to reach new heights
Portable gantry cranes are expected to generate bulk of global demand over coming years

By operation, automatic gantry cranes are most preferred amid rising demand for automating industrial operations

Heavy-duty cranes capable of lifting loads exceeding 50 tons to exhibit high growth

The U.S to emerge as a lucrative market for gantry cranes, attributed to heightened public and private sector construction projects

India to generate lucrative expansion opportunities for prominent market players
Extensive application in the shipping industry to bolster growth prospects across China

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“Ever-widening scope of construction and infrastructure activities is prompting key manufacturers to introduce highly efficient and flexible gantry cranes suitable for key operations within the industry, widening growth prospects,” says a Fact.MR analyst.

Competitive Landscape

Prominent gantry crane manufacturers as profiled in Fact.MR’s report include JASO Industrial Cranes, Aicrane Machinery Group, Doosan Heavy Industries Vietnam Co, Shanghai Zhenhua Heavy Industries Co. Ltd., Mi-Jack Products, TNT Crane & Rigging, Liebherr Group, SANY GROUP, Konecranes Plc., and Mammoet Holding B.V, among others.

In December 2020, JASO Industrial Cranes received all the industrial cranes for its new marine wind turbine factory in Le Havre from Siemens Gamesa. This new plant will manufacture the 71 offshore wind turbines at the Fécamp wind farm in Normandy

In May 2021, the Liebherr Group delivered its first LTM 1650-8.1 mobile crane in Spain to Grúas y Transportes Ibarrondo S.A., a transportation company. The crane is available with two telescope boom lengths, Y guying and a luffing jib up to 91 meters in length

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More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the gantry crane market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of type (full gantry cranes, semi gantry cranes, truss gantry cranes, and portable gantry cranes), operation (manual and automatic), lifting capacity (less than 30 tons, 30-50 tons, and more than 50 tons) and end use (automotive, metal & mining, construction, paper & pulp, aerospace, utility, shipyards, and others) across five major regions of the world (North America, Europe, Asia Pacific, Middle East & Africa, and South America).

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This release was published on openPR.