The new report by Expert Market Research titled, ‘Global Overhead Cranes Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global overhead cranes market, assessing the market based on its segments like type, business type, end-user, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 4.9%
The use of overhead cranes in industrial sites offers two most important advantages namely efficiency and safety. Overhead cranes work around two to three times faster than a group of workers or tow motors. Another key advantage of using an overhead crane in the manufacturing or warehousing facilities is safety as these cranes can easily handle materials that are dangerous like chemicals and hot metals. Other key features/benefits of using an overhead crane that is contributing to its market growth are lowered cost and reduction in damage of products and materials.
Industry Definition and Major Segments
An overhead crane is a machine used to move materials or heavy objects from one place to another. Overhead cranes are designed and engineered for a specific requirement or application that meets the material handling needs of the business. An overhead crane consists of several components, such as hook, hoist, trolley, bridge, runway, controls, and electrification.
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Based on type, the market is segmented as:
- Single Girder
- Double Girder
By business type, the market for overhead cranes is bifurcated as:
- Original Equipment Manufacturer
The end-users of overhead cranes include:
- Metal and Mining
EMR also provides an in-depth analysis of the regional markets namely North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The growth in several end-use industries/sectors like automotive, aerospace, and manufacturing is increasing the use of overhead cranes. The demand for overhead cranes from logistics warehouses and distribution centres is also rising and is supporting the market. Additionally, the increasing investments by the government to develop their respective infrastructure is propelling the market for overhead cranes.
Key Market Players
The major players in the market are ABUS Kransysteme GmbH, Columbus McKinnon Corporation, EMH, Inc, GH Cranes & Components, Gorbel Cranes, and Kito Corp. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.