Press release
Overhead Cranes Market Worth $5,043.7 Million in 2027
Overhead Cranes Market
The global overhead cranes market size is expected to reach $5.0 billion in 2027 from $3.8 billion in 2019, growing at a CAGR of 4.9% from 2020 to 2027.
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Overhead cranes also known as bridge cranes or industrial cranes are utilized for material handling applications in industrial spaces. It constitutes of parallel runways with a traveling bridge and a hoist. The lifting component of a crane moves in multiple directions through the overhead space in the facility. Further, overhead cranes find applications in automotive, aerospace, shipyards, paper, utility, and other industries.
Covid-19 Impact Analysis
The COVID-19 pandemic has negatively affected the overhead cranes market mainly due to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user companies located in countries such as the U.S., China, Germany, the UK, and others, are also facing financial impacts due to halted production, which is expected to hinder the growth of the overhead cranes market during 2020.
Key Market Players
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.
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Key Market Players
By Type
Single Girder
Double Girder
By Business Type
Original Equipment Manufacturers (OEM)
Aftersales
By End-User
Automotive
Metal & Mining
Paper
Utility
Aerospace
Shipyards
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
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