Categories
Overhead Cranes Market Size By Boom-Type (Single-Grider and Double-Grider), By Business Type (OEM and Aftermarket), By End-User (Utility, Metal & Mining, Automotive, Shipyards, and Aerospace), Regions, Segmentation, and Projection till 2030
CAGR: 7.3%Current Market Size: USD 4,770.69 MillionFastest Growing Region: Europe
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
Global Overhead Cranes Market- Market Overview:
The global overhead cranes market is expected to grow from USD 4,770.69 million in 2022 to USD 8,382.6 million by 2030, at a CAGR of 7.3% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising demand in the automotive sector.
Cranes are heavy-duty vehicles capable of moving heavy loads and equipment efficiently within a building by using overhead space. An overhead crane is indispensable in countless industrial settings, as they make work easier and more efficient. The two primary functions of overhead cranes are loading and unloading. By doing so, overhead cranes save time and effort at the workplace and prove efficient over time. Some of the features of overhead cranes include increased safety, improved workload control, and improved ergonomics. A crane is useful in a variety of situations depending on its configuration. These cranes come in a variety of shapes, sizes, and configurations, as well as components and accessories. Moving materials, lifting dies from stamping machines, loading and unloading heavy items, and feeding raw materials are some of the things they are used for. The increased spending on construction activities will increase the demand or usage for cranes as construction teams invest in better time management. To ensure safe operations and reduce human safety, more efficient material handling equipment is required. Furthermore, it costs a substantial amount of money to set up automated cranes. Using cutting-edge technologies for automatic cranes, including computer vision, machine learning, and the Internet of Things (IoT), costs a significant amount of money, which will negatively impact the growth of the market.
Sample Request: - Global Overhead Cranes Market
Market Dynamics:
Drivers:
- Rapid urbanization
Overhead travelling cranes are expected to grow in demand due to rapid urbanization, modernization, and the growth and expansion of various end-user industries. Further propelling the overhead travelling cranes market growth rate is the rise in awareness and adoption of workplace safety measures. Additionally, the government is increasingly focusing on the development of infrastructure in untapped markets, creating lucrative growth opportunities for overhead cranes.
Restraints:
- Lack of skilled professionals
A shortage of skilled workers has forced manufacturing companies to hire more employees, which has resulted in higher labour costs. An inadequate staffing pool causes overwork and job dissatisfaction among employees. For automated cranes to work efficiently, a skilled workforce is required.
Opportunities:
- Rising safety concerns and demand for efficient operational processes
Goods and materials are in increasing demand, they need to be moved quickly and efficiently, and accidents must be minimized, all of which contribute to efficient operations. In addition, it is important to keep production schedules to reduce the risk of accidents and repair costs, all of which contribute to the need to minimize downtime.
Challenges:
- Raw material price fluctuation
As raw materials prices fluctuate, the overhead travelling crane market will be challenged even more. A combination of high acquisition costs coupled with high operational and maintenance costs will further limit the growth potential, while a depreciation mechanism that leads to low resale values will also limit the growth potential.
Segmentation Analysis:
The global overhead cranes market has been segmented based on boom-type, business type, end-user, and region.
By Boom-Type
The boom-type segment includes a single-girder and double-girder. The single-girder segment led the largest share of the overhead cranes market with a market share of around 39.3% in 2022. In medium and light-duty applications and in facilities with limited floor space or headroom, single-girder cranes are highly cost-effective. Furthermore, single-girder cranes are also less costly to build and are more compact and lightweight than double-girder cranes. This results in a reduction in material, installation, and freight costs as well. With a maximum lifting capacity of 5 tons to 35 tons, single girder cranes offer a number of advantages which contribute to the growth of the overhead cranes market.
By Business Type
The business type segment includes OEM and aftermarket. The OEM segment led the largest share of the overhead cranes market with a market share of around 67.3% in 2022. During the Projection period, OEMs will remain the largest contributor to the market and will grow at a CAGR of 4.7%. Automation software providers, engine manufacturers, and other parts manufacturers assist OEMs by providing the latest technologies.
By End-User
The end-user segment includes utility, metal & mining, automotive, shipyards, and aerospace. The automotive segment led the largest share of the overhead cranes market with a market share of around 31.5% in 2022. Depending on the demand and lifting capacity of the crane, overhead cranes are highly efficient for automotive applications. As a result, human power and traffic on the work floor are reduced, which optimizes the process. They are used to lift and transport automotive parts and even an entirely assembled automobile.
Global Overhead Cranes Market - Sales Analysis.
The sale of overhead cranes expanded at a CAGR of 6.8% from 2016 to 2022.
Manufacturing and infrastructure sectors are growing in developing countries, leading to an increased demand for industrial overhead cranes. Moreover, industrial overhead cranes are increasingly being fitted with automated systems to improve efficiency and productivity.
As government investments increase in infrastructure activities, the overhead cranes market expands. As a consequence of the 'Industry 4.0' plan, various players are adopting new digitization technologies for industrial spaces to boost output. The demand for electronic overhead cranes has been a result of this.
A growing number of industrial activities are being automated, leading to an increase in overhead crane demand. By automating labor-intensive practices such as lifting heavy goods and moving them, companies can increase productivity in the manufacturing process and reduce production lead times.
Thus, owing to the aforementioned factors, the global overhead cranes market is expected to grow at a CAGR of 7.3% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the overhead cranes market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the overhead cranes market and held a 37.8% share of the market revenue in 2022.
- The Asia Pacific region witnessed a major share. Due to the highest infrastructure investment in the region and the presence of a number of key manufacturers, Asia Pacific is expected to dominate the market over the Projection period. In 2017, China held the largest share of the overhead cranes market in the Asia Pacific, while India also showed the largest growth. In Asia Pacific, China is the largest industry for overhead cranes, followed by Japan.
- Europe is anticipated to experience significant growth during the predicted period. Currently, four significant overhead crane manufacturers have the largest market share in the region of Europe, which is a major hub for global overhead crane manufacturers. Despite the fact that the overhead crane industry is highly consolidated in Europe, Chinese demand is lower to promote local manufacturers in the market. As a result, companies are adopting acquisition and partnership strategies in order to gain a significant share of the European overhead crane market.
Global Overhead Cranes Market - Country Analysis:
- Germany
Germany's overhead cranes market size was valued at USD 429.36 million in 2022 and is expected to reach USD 765.7 million by 2030, at a CAGR of 7.5% from 2023 to 2030.
Through the integration of smart technology with overhead cranes, they are able to collect data from crane operations, as well as the increasing adoption of automated overhead cranes throughout the country as a result of smart technology for maintenance purposes by reviewing historical maintenance data and technical information of the crane.
- China
China’s overhead cranes market size was valued at USD 468.8 million in 2022 and is expected to reach USD 848.6 million by 2030, at a CAGR of 7.7% from 2023 to 2030.
Overhead cranes are being shaped by product innovation in China. To enhance the operational performance of crane systems and to detect early maintenance of cranes, the key players in the overhead cranes market develop innovative rope technologies, like synthetic ropes, and performance diagnostics solutions.
- India
India's overhead cranes market size was valued at USD 360.6 million in 2022 and is expected to reach USD 647.9 million by 2030, at a CAGR of 7.6% from 2023 to 2030.
The Indian market is projected to expand significantly as a result of increased demand, higher incomes, advanced technology and equipment, and programs to raise public awareness of the need. As a result, companies, government organizations, etc., are also focusing on developing customer-centric products that will contribute to the country's development.
Key Industry Players Analysis:
To increase their market position in the global overhead cranes market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
- Sumitomo Heavy Industries Material Handling Systems Co.Ltd.
- Kito Corporation
- Columbus McKinnon Corporation
- Ralf Teichmann GmbH
- GH Cranes & Components
- Weihua Group
- ABUS Kransysteme GmbH
- Gorbel Cranes
- Konecranes Plc
- EMH Inc
- Henan Mine
- Safex Electromech
- Unique Industrial Handlers
- K2 Cranes
- United Crane Components Pvt. ltd
Latest Development:
- In January 2022, A USA-based provider of overhead cranes and hoists, American Equipment Holdings acquired Eastern Crane and Hoist, a South California company that provides overhead crane systems, maintenance, repair, and overhaul services. A major objective of the acquisition by American Equipment is to increase its geographical footprint in overhead crane and hoist production and maintenance.
- In April 2022, BF Engineering used Pfaff-silberblau PETA-EL4 wire rope winches and wire rope pulley blocks provided by Columbus McKinnon Engineered Products in a climate chamber to simulate solar irradiation of hydrogen-powered car and truck prototypes with height-adjustable irradiation.
Report Metrics
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Report Attribute |
Details |
|
Study Period |
2022-2030 |
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Base year |
2022 |
|
CAGR (%) |
7.3% |
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Market Size |
4,770.69 million in 2022 |
|
Projection period |
2023-2030 |
|
Projection unit |
Value (USD) |
|
Segments covered |
By Boom-Type, By Business Type, By End-User, and By Region. |
|
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
|
Companies covered |
Sumitomo Heavy Industries Material Handling Systems Co.Ltd., Kito Corporation, Columbus McKinnon Corporation, Ralf Teichmann GmbH, GH Cranes & Components, Weihua Group, ABUS Kransysteme GmbH, Gorbel Cranes, Konecranes Plc, EMH Inc, Henan Mine, Safex Electromech, Unique Industrial Handlers, K2 Cranes, and United Crane Components Pvt. Ltd. |
|
By Boom-Type |
|
|
By Business Type |
|
|
By End-User |
|
|
Regional scope |
|
Scope of the Report
Global Overhead Cranes Market by Boom-Type:
- Single-Girder
- Double-Girder
Global Overhead Cranes Market by Business Type:
- OEM
- Aftermarket
Global Overhead Cranes Market by End-User
- Utility
- Metal & Mining
- Automotive
- Shipyards
- Aerospace
Global Overhead Cranes Market by Region:
- North America
- USA
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
Frequently Asked Questions
What will be the expected market size of the overhead cranes market in 2030?
Global overhead cranes market is expected to reach USD 8382.6 million by 2030, at a CAGR of 7.3% from 2023 to 2030.
Which are the leading market players active in the overhead cranes market?
Leading players in the overhead cranes market are Sumitomo Heavy Industries Material Handling Systems Co.Ltd., Kito Corporation, Columbus McKinnon Corporation, Ralf Teichmann GmbH, GH Cranes & Components, Weihua Group, ABUS Kransysteme GmbH, Gorbel Cranes, Konecranes Plc, EMH Inc., Henan Mine, Safex Electromech, Unique Industrial Handlers, K2 Cranes, United Crane Components Pvt. Ltd among others.
What are the driving factors of the overhead cranes market?
Rapid urbanization and rising safety concerns and demand for efficient operational processes.
Which region will witness more growth in the overhead cranes market?
Asia Pacific region will witness more growth in the overhead cranes market.
What is the global overhead cranes market breakup based on the end-user?
Based on the end-user, the global overhead cranes market has been segmented into utility, metal & mining, automotive, shipyards, and aerospace.
- Introduction
- 1. Objectives of the Study
- 2. Market Definition
- 3. Research Scope
- Research Methodology and Assumptions
- Executive Summary
- Premium Insights
- 1. Porter’s Five Forces Analysis
- 2. Value Chain Analysis
- 3. Top Investment Pockets
- 3.1. Market Attractiveness Analysis by Boom-Type
- 3.2. Market Attractiveness Analysis by Business Type
- 3.3. Market Attractiveness Analysis by End-User
- 3.4. Market Attractiveness Analysis by Region
- 4. Industry Trends
- Market Dynamics
- 1. Market Evaluation
- 2. Drivers
- 2.1. Rapid urbanization
- 3. Restraints
- 3.1. Lack of skilled professionals
- 4. Opportunities
- 4.1. Rising safety concerns and demand for efficient operational processes
- 5. Challenges
- 5.1. Raw material price fluctuation
- Global Overhead Cranes Market Analysis and Projection, By Boom-Type
- 1. Segment Overview
- 2. Single-Girder
- 3. Double-Girder
- Global Overhead Cranes Market Analysis and Projection, By Business Type
- 1. Segment Overview
- 2. OEM
- 3. Aftermarket
- Global Overhead Cranes Market Analysis and Projection, By End-User
- 1. Segment Overview
- 2. Utility
- 3. Metal & Mining
- 4. Automotive
- 5. Shipyards
- 6. Aerospace
- Global Overhead Cranes Market Analysis and Projection, By Regional Analysis
- 1. Segment Overview
- 2. North America
- 2.1. U.S.
- 2.2. Canada
- 2.3. Mexico
- 3. Europe
- 3.1. Germany
- 3.2. France
- 3.3. U.K.
- 3.4. Italy
- 3.5. Spain
- 4. Asia-Pacific
- 4.1. Japan
- 4.2. China
- 4.3. India
- 5. South America
- 5.1. Brazil
- 6. Middle East and Africa
- 6.1. UAE
- 6.2. South Africa
- Global Overhead Cranes Market-Competitive Landscape
- Overview
- Market Share of Key Players in the Overhead Cranes Market
- 2.1. Global Company Market Share
- 2.2. North America Company Market Share
- 2.3. Europe Company Market Share
- 2.4. APAC Company Market Share
- Competitive Situations and Trends
- 3.1. Technology Launches and Developments
- 3.2. Partnerships, Collaborations, and Agreements
- 3.3. Mergers & Acquisitions
- 3.4. Expansions
- Company Profiles
- Sumitomo Heavy Industries Material Handling Systems Co.Ltd.
- 1.1. Business Overview
- 1.2. Company Snapshot
- 1.3. Company Market Share Analysis
- 1.4. Company Technology Portfolio
- 1.5. Recent Developments
- 1.6. SWOT Analysis
- Kito Corporation
- 2.1. Business Overview
- 2.2. Company Snapshot
- 2.3. Company Market Share Analysis
- 2.4. Company Technology Portfolio
- 2.5. Recent Developments
- 2.6. SWOT Analysis
- Columbus McKinnon Corporation
- 3.1. Business Overview
- 3.2. Company Snapshot
- 3.3. Company Market Share Analysis
- 3.4. Company Technology Portfolio
- 3.5. Recent Developments
- 3.6. SWOT Analysis
- Ralf Teichmann GmbH
- 4.1. Business Overview
- 4.2. Company Snapshot
- 4.3. Company Market Share Analysis
- 4.4. Company Technology Portfolio
- 4.5. Recent Developments
- 4.6. SWOT Analysis
- GH Cranes & Components
- 5.1. Business Overview
- 5.2. Company Snapshot
- 5.3. Company Market Share Analysis
- 5.4. Company Technology Portfolio
- 5.5. Recent Developments
- 5.6. SWOT Analysis
- Weihua Group
- 6.1. Business Overview
- 6.2. Company Snapshot
- 6.3. Company Market Share Analysis
- 6.4. Company Technology Portfolio
- 6.5. Recent Developments
- 6.6. SWOT Analysis
- ABUS Kransysteme GmbH
- 7.1. Business Overview
- 7.2. Company Snapshot
- 7.3. Company Market Share Analysis
- 7.4. Company Technology Portfolio
- 7.5. Recent Developments
- 7.6. SWOT Analysis
- Gorbel Cranes
- 8.1. Business Overview
- 8.2. Company Snapshot
- 8.3. Company Market Share Analysis
- 8.4. Company Technology Portfolio
- 8.5. Recent Developments
- 8.6. SWOT Analysis
- Konecranes Plc
- 9.1. Business Overview
- 9.2. Company Snapshot
- 9.3. Company Market Share Analysis
- 9.4. Company Technology Portfolio
- 9.5. Recent Developments
- 9.6. SWOT Analysis
- EMH Inc
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- Henan Mine
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- Safex Electromech
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- Unique Industrial Handlers
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- K2 Cranes
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- United Crane Components Pvt. ltd
- Business Overview
- Company Snapshot
- Company Market Share Analysis
- Company Technology Portfolio
- Recent Developments
- SWOT Analysis
- Sumitomo Heavy Industries Material Handling Systems Co.Ltd.
List of Table
- Global Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Global Single-Girder, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Double-Girder, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Global OEM, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Aftermarket, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Global Utility, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Metal & Mining, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Automotive, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Shipyards, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Aerospace, Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- Global Overhead Cranes Market, By Region, 2023–2030 (USD Million)
- North America Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- North America Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- North America Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- S. Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- S. Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- S. Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Canada Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Canada Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Canada Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Mexico Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Mexico Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Mexico Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Europe Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Europe Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Europe Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Germany Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Germany Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Germany Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- France Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- France Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- France Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- K. Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- K. Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- K. Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Italy Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Italy Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Italy Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Spain Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Spain Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Spain Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Asia Pacific Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Asia Pacific Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Asia Pacific Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Japan Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Japan Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Japan Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- China Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- China Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- China Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- India Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- India Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- India Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- South America Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- South America Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- South America Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Brazil Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Brazil Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Brazil Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- Middle East and Africa Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- Middle East and Africa Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- Middle East and Africa Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- UAE Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- UAE Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- UAE Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
- South Africa Overhead Cranes Market, By Boom-Type, 2023–2030 (USD Million)
- South Africa Overhead Cranes Market, By Business Type, 2023–2030 (USD Million)
- South Africa Overhead Cranes Market, By End-User, 2023–2030 (USD Million)
List of Figures
- Global Overhead Cranes Market Segmentation
- Overhead Cranes Market: Research Methodology
- Market Size Estimation Methodology: Bottom-Up Approach
- Market Size Estimation Methodology: Top-Down Approach
- Data Triangulation
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Global Overhead Cranes Market Attractiveness Analysis by Boom-Type
- Global Overhead Cranes Market Attractiveness Analysis by Business Type
- Global Overhead Cranes Market Attractiveness Analysis by End-User
- Global Overhead Cranes Market Attractiveness Analysis by Region
- Global Overhead Cranes Market: Dynamics
- Global Overhead Cranes Market Share by Boom-Type (2023 & 2030)
- Global Overhead Cranes Market Share by Business Type (2023 & 2030)
- Global Overhead Cranes Market Share by End-User (2023 & 2030)
- Global Overhead Cranes Market Share by Regions (2023 & 2030)
- Global Overhead Cranes Market Share by Company (2021)
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