Lifting Efficiency to New Heights: Exploring the Overhead Cranes Market at a CAGR of 4.9% by 2027
Major players in the overhead cranes industry have focused on acquisition strategies to gain maximum share in the market.
PORTLAND, OR, UNITED STATES, June 26, 2023/EINPresswire.com/ — The overhead cranes market refers to the industry involved in the manufacturing, distribution, and installation of overhead cranes. Overhead cranes, also known as bridge cranes or gantry cranes, are industrial lifting devices that are used to move heavy loads horizontally and vertically within a defined area. They consist of a bridge that travels along elevated runways and is supported by end trucks. The hoist and trolley are suspended from the bridge, enabling the lifting and movement of heavy objects. The overhead cranes market size is expected to reach $5,043.7 million in 2027, from $ 3,778.9 million in 2019, growing at a CAGR of 4.9% from 2020 to 2027.
The overhead cranes market is driven by various factors, including industrial growth, infrastructure development, and the need for efficient material handling solutions. These cranes find applications in a wide range of industries, including manufacturing, construction, automotive, aerospace, shipping and logistics, mining, and energy.
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Key aspects of the overhead cranes market include:
Types of Overhead Cranes: The market offers different types of overhead cranes based on their configuration and functionality. Some common types include single girder cranes, double girder cranes, gantry cranes, monorail cranes, and stacker cranes. Each type has specific advantages and is suitable for different lifting requirements and working environments.
Capacity and Span: Overhead cranes are available in various lifting capacities and spans, ranging from a few tons to several hundred tons, and from a few meters to over a hundred meters. The choice of capacity and span depends on the specific application and the weight and dimensions of the loads to be lifted.
End-User Industries: Overhead cranes are used across a wide range of industries. They are commonly employed in manufacturing facilities for tasks such as assembly line operations, material handling, and loading/unloading of goods. They are also utilized in construction sites for lifting heavy building materials, in ports and shipping yards for container handling, and in warehouses and distribution centers for efficient storage and retrieval of goods.
Geographical Factors: The demand for overhead cranes varies by region, influenced by factors such as industrial development, infrastructure projects, and economic growth. Key regions for the overhead cranes market include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Competitive Landscape:
The market for overhead cranes is competitive, with several global and regional players are 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.
The overhead cranes market is expected to witness steady growth in the coming years, driven by factors such as industrial automation, the need for efficient material handling solutions, and increasing investments in infrastructure projects. The market will likely see technological advancements, such as the integration of automation, digitalization, and remote monitoring capabilities, to enhance the safety, productivity, and efficiency of overhead crane operations.
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