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EU has the world’s second-largest industrial output and a highly automated manufacturing industry2/10/2020 Overhead Cranes Market Research Report – Global Forecast till 2025
Overhead cranes refer to cranes that are utilized in factory-line settings where speed and efficiency are more important. Overhead cranes are used for efficiency, speed, and automated capabilities and find excellent utility in factory line production. They are used extensively in the mining, paper, and automotive industries. overhead cranes also offer reduction in downtime and are used for loading heavy loads that weigh as much as 70 tons. These can be lifted with specialized overhead cranes that can lift heavier loads. The ascension of the automotive industry, including the growth of the mining industry, are some of the major market drivers for overhead cranes, as suggested in the latest MRFR analysis. The global overhead cranes market is anticipated to witness a lucrative CAGR of 5% during the forecast period. Market Segmentation The global overhead cranes market is studied for various segments that are based on product, end user, and region. Based on product, the global overhead cranes market is segmented into single girder overhead cranes and double girder overhead cranes. Single girder overhead cranes are used when the hook height is not an issue. These cranes offer the same stability and strength like the double girder overhead cranes. Single girder overhead cranes are cost effective and are preferred within the mining and aerospace sector. On the other hand, the double girder cranes segment is expected to hold the larger share of the global overhead cranes market. These cranes are known to offer excellent hook height and can be used for all activities that a single girder overhead crane is used for. Based on end-user, the global overhead cranes market is segmented into automotive, paper, utility, metal and mining, aerospace, and other industries. Within the automotive industry, the market has a phenomenal potential for growth as the industry is also proliferating at a substantial rate over the forecast period. further, it also has a highly automated production process. Cranes are vital to the factory line production process, which ensures that it is the largest market share for overhead cranes within this segment. This sector is known to create demand for both, single and double girder overhead cranes. The paper making and printing media industry have always been observed to witness a need for placing, replacing, and lifting heavy rollers that are intrinsic to this industry. Such tasks are performed using overhead cranes which are usually double girder cranes as they offer a higher hook size, hence, fulfilling the necessity of this particular industry. Utility is a growing segment for the overhead crane market owing to the increasing investments by various governments in the enhancement of efficiency. This, in turn, is known to create growth in demand for overhead cranes within the utility sector, especially power industry. Aerospace industry is witnessing fast paced growth over the forecast period, which is bound to supplement the mushrooming of the global overhead cranes market over the forecast period. overhead cranes are vital in this industry for the assembly of airplanes and the assembly of engines. The emphasis is highly placed on fast and efficient load moving capabilities of such cranes. Detailed Regional Analysis the global overhead cranes market is studied for a regional segmentation of North America, Asia Pacific, Europe, and Rest of the World. North America is expected to witness fast paced ascension over the forecast period, owing to 20% of its economy being dependent on manufacturing. Further, it also has some of the most advanced automated industries and is expected to drive the overhead cranes market over the forecast period. 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), ABUS Kransysteme GmbH, Sumitomo Heavy Industries Material Handling Systems Co.,Ltd are some of the distinguished players present in the global overhead cranes market. 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