Overhead Cranes Market Research Report - Global Forecast till 2027

Overhead Cranes Market Research Report: By Product (Single Girder Overhead Cranes, Double Girder Overhead Cranes) and By End-User (Automotive, Paper, Utility, Aerospace, Others) – Forecast to 2027

ID: MRFR/CO/6793-HCR | February 2021 | Region: Global | 111 pages

Overhead Cranes Market Forecast


Overhead Cranes Market is expected to reach USD 3,957.0 Million by 2025 growing at a CAGR of 5% during the forecast period.


Market Synopsis


Overhead cranes are utilized in factory-line settings where speed and efficiency are important criteria. Overhead cranes are used for their speed, efficiency, and automated capabilities and find excellent utility in factory line production. They are used extensively in the automotive, mining, and paper industries as well. Overhead cranes offer reduced downtimes and can be used on loads as heavy as 70 tons, with specialized overhead cranes that can lift heavier loads. The growth of the automotive industry, as well as the growth of the mining industry, are the major drivers for the overhead cranes market.


Market USP


Unparalleled speed and reduced downtime.


Market Drivers



  • Growth in factory automation

  • Innovations within the mining industry

  • Growth of the global automotive market

  • Increased streamlining of manufacturing processes

  • Growing government investment to enhance the utilities offered


Market Restraints



  • Multiple types of cranes available

  • Volatility of raw materials prices


Segmentation


By Product



  • Single Girder Overhead Cranes: Used when hook height is not an issue, single girder cranes offer the same stability and strength as double girder cranes. They are cheaper as well. Single girder cranes can be rented as well, which serves to limit the growth of this segment.

  • Double Girder Overhead Cranes: The larger segment within this market, double girder cranes offer excellent hook height and can be used for all activities single girder cranes are used for as well. Preferred within the mining and aerospace sector and the growth of these industries is also driving the growth of the overhead cranes market.


By End-User



  • Automotive: The automotive industry is growing at a phenomenal rate and has a highly automated production process. Cranes are vital to the factory line production process, a fact which ensures that this is the largest market for overhead cranes within this segment. Both single and double girder cranes find utility in this sector.

  • Paper: Paper making and print media have always had a requirement for placing, replacing, and lifting heavy rollers that are intrinsic to this industry. This is performed by overhead cranes, usually double girders since they offer high hook space, which is a necessity in this industry.

  • Utility: Utility is a growing segment for the overhead crane market as governments are increasingly investing in enhancing efficiency. This creates a growing demand for overhead cranes within the utility sector, especially power.

  • Aerospace: The aerospace industry is growing, and concurrent to that growth is a rising demand for overhead cranes. Overhead cranes are vital for the assembly of airplanes as well as for the assembly of engines. The emphasis is on fast and efficient load moving capability.

  • Metal & Mining: Metal processing and mining have a requirement to handle many heavy loads efficiently. Overhead cranes have been used extensively to ensure the smooth, efficient, and fast transfer of material from once receptacle to another.

  • Others: This includes industries like steel, transportation, etc.


By Region



  • North America: More than 20% of the economy of this region depends on manufacturing, North America has some of the globe’s most automated industries and this is driving the overhead crane market within the region. Moreover, North America is home to the largest aviation industry in the world, which has a high demand for overhead cranes, further fueling the growth of this market.

  • Europe: The EU has the world’s second-largest industrial output and a highly automated manufacturing industry. This serves to expand the overhead crane market within the region, especially in Germany and the UK.

  • Asia-Pacific: Currently, the largest and fastest-growing regional market for the overall overhead cranes market, Asia-Pacific is the largest producer of goods worldwide due to manufacturing giants such as China, Japan, and South Korea. India’s rapidly expanding manufacturing industry is slated to become one of the biggest in the world. These factors are propelling the overhead crane market in the region.


Key Players



  • Konecranes Plc (Finland)

  • Cargotec (Finland)

  • Terex Cranes (US)

  • Eilbeck Cranes (Australia)

  • Ergonomic Partners (US)

  • Columbus McKinnon Corporation (US)

  • EMH, Inc (US)

  • Weihua Group (China)

  • ABUS Kransysteme GmbH (Germany)

  • Sumitomo Heavy Industries Material Handling Systems Co., Ltd (Japan)



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 3,957.0 Million
  CAGR   5%CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product and End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Konecranes Plc (Finland), Cargotec (Finland), Terex Cranes (US), Eilbeck Cranes (Australia), Ergonomic Partners (US), Columbus McKinnon Corporation (US), EMH, Inc (US), Weihua Group (China), ABUS Kransysteme GmbH (Germany), Sumitomo Heavy Industries Material Handling Systems Co., Ltd (Japan)
  Key Market Opportunities

  • Multiple types of cranes available
  • Volatility of raw materials prices
  •   Key Market Drivers

  • Growth in factory automation
  • Innovations within the mining industry
  • Growth of the global automotive market
  • Increased streamlining of manufacturing processes
  • Growing government investment to enhance the utilities offered


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    Frequently Asked Questions (FAQ) :


    Overhead cranes market is projected to grow at a 5% CAGR between 2019-2025.

    Overhead cranes market is predicted to touch USD 3,957.0 million by 2025.

    The APAC region is expected to dominate the overhead cranes market.

    Double girder overhead cranes segment will lead the overhead cranes market.

    Growing automotive sector and increasing government investments are the key factors driving the overhead cranes market.