Press release
Overhead Cranes Market to Surpass $5.04 Billion by 2027, Growing at 4.9% CAGR | Allied Market Research
Allied Market Research recently published a report titled, "Overhead Cranes Market by Type (Single Girder and Double Girder), Business Type (OEM and Aftersales), and End User (Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the study, the global overhead cranes market generated $3.77 billion in 2019 and is projected to reach $5.04 billion by 2027, registering a CAGR of 4.9% from 2020 to 2027.Download Report Sample (236 Pages PDF with Insights) @
https://www.alliedmarketresearch.com/request-sample/4057
Key Market Drivers
Infrastructure investment: Governments worldwide are investing heavily in infrastructure development, boosting demand for overhead cranes.
Workplace safety: Industries are prioritizing safety by adopting cranes that minimize accidents and risks.
Cost optimization: Automated cranes reduce labor costs and improve time efficiency.
However, challenges such as a shortage of skilled operators and supply chain delays remain. On the bright side, rising investments in manufacturing present strong growth opportunities for the sector.
Impact of Covid-19
Temporary slowdown: Manufacturing and international trade disruptions during lockdowns delayed production and deliveries.
Gradual recovery: With governments easing restrictions, demand is expected to rebound quickly as construction and industrial activity resumes.
Segment Insights
By Type: Single Girder Leads
The single girder segment accounted for nearly two-thirds of the market in 2019 and is projected to grow at the fastest CAGR of 5.2% through 2027. Their popularity is driven by rising adoption among SMEs and aftermarket service providers.
By Business Type: OEM Dominates, Aftersales Rising
OEMs contributed over two-thirds of total revenue in 2019, driven by the use of high-quality materials for durability.
Aftersales services are expected to post the highest CAGR of 5.7%, as major players expand service offerings to ensure customer satisfaction.
Get detailed COVID-19 impact analysis on the Overhead Cranes Market:
https://www.alliedmarketresearch.com/request-for-customization/4057?reqfor=covid
Regional Outlook
Asia-Pacific held nearly half of the global market in 2019 and is forecast to maintain dominance with the highest CAGR of 5.4% by 2027. Growth is attributed to rapid industrialization and manufacturing investments in emerging economies.
North America is also expected to grow steadily at a 4.0% CAGR, supported by advancements in industrial automation.
Key Market Players
Major companies shaping the overhead cranes industry include:
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.
Weihua Group
Interested in Procure Data? Visit Here:
https://www.alliedmarketresearch.com/overhead-cranes-market/purchase-options
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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