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Overhead Crane Market : Industry Outlook, Growth Prospects and Key Opportunities
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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.
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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.
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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).
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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
5-10T
11-50T
51-150T
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
Automotive
Automated Warehouse
Mining
Pulp & Paper
Cement
Others
Overhead Crane Market, by Region
North America
U.S.
Canada
Mexico
Rest of North America
Europe
U.K.
Germany
France
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Rest of Asia Pacific
Middle East & Africa (MEA)
GCC Countries
South Africa
Rest of Middle East & Africa
South America
Brazil
Rest of South America
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