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Overhead Crane Market by Cranes (Gantry crane, Jib crane, Bridge crane, Others), by Lifting Capacity (Light duty (up to 5 tons), Medium duty (5-10 tons), Heavy duty (more than 10 tons)), by Business (Original Equipment Manufacturer (OEM), Aftermarket), by Industry (Automotive, Metal & mining, Manufacturing, Aerospace, Utilities, Shipyards, Others), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Spain, Russia, Nordics, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, ANZ, Southeast Asia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (South Africa, UAE, Saudi Arabia, Rest of MEA) Forecast 2025-2033
The size of the Overhead Crane Market was valued at USD 4.8 Billion in 2023 and is projected to reach USD 7.22 Billion by 2032, with an expected CAGR of 6% during the forecast period. The Overhead Crane Market centers on the need for crane systems meant to raise and transport heavy materials along a stationary track or beam above the surface. These cranes are frequently utilized in sectors like manufacturing, construction, automotive, and storage. Essential elements of overhead cranes are the hoist, trolley, bridge, and runway, which collaborate to offer accurate lifting and transporting functions in tight areas. The market is propelled by the increasing demand for material handling solutions that boost productivity, lower labor costs, and enhance safety in industrial operations. Technological progress like automation, intelligent sensors, and enhanced control systems is additionally driving the market's growth, facilitating increased efficiency, load capability, and operational precision. The rising emphasis on safety regulations, energy efficiency, and the need for tailored crane solutions are further driving market expansion. The Overhead Crane Market is anticipated to expand considerably as industries focus on effective, safe, and dependable lifting solutions to address contemporary operational requirements.
The market is fragmented, with several key players such as Columbus McKinnon Corporation, Sumitomo Heavy Industries Material Handling Systems Co. Ltd., and Konecranes. Innovation is a key characteristic of the market, with manufacturers constantly developing new technologies to improve crane efficiency and safety.
Key market trends include the adoption of hybrid cranes that combine diesel and electric power, the development of remote-controlled cranes for hazardous environments, and the use of advanced sensors and IoT devices for crane monitoring and control.
Asia Pacific is the largest regional market, followed by North America and Europe. The Bridge Crane type is expected to dominate the market, followed by Gantry Cranes. The Automotive and Metal & Mining industries are the largest end-user segments for overhead cranes.
The market offers a wide range of products, including bridge cranes, gantry cranes, and jib cranes. These cranes vary in lifting capacities, from light-duty cranes for handling smaller loads to heavy-duty cranes for lifting ultra-heavy loads.
The market is expected to grow steadily over the next five years, driven by factors such as increasing industrialization, rising infrastructure expenditure, and technological advancements.
North America: U.S. and Canada are the major markets in North America. Europe: Germany, UK, and France are the key markets in Europe. Asia Pacific: China, India, and Japan are the dominant markets in Asia Pacific. Latin America: Brazil and Mexico are the largest markets in Latin America. MEA: South Africa and UAE are the key markets in MEA.
In February 2024, Morris Material Handling SA (Pty) Ltd erected double-girder bridge overhead cranes for a South African iron ore producer.
In November 2023, Konecranes upgraded the reactor hall overhead crane at Sweden's Oskarshamn Nuclear Power Plant to enhance safety and efficiency.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 6% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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