Overhead Crane Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Overhead Crane Market Trends and Forecast

The future of the overhead crane market looks promising with opportunities in the automotive, metal and mining, manufacturing, aerospace, utilities, and shipyard sectors. The global overhead crane market is expected to reach an estimated $6.3 billion by 2028 with a CAGR of 5.2% from 2023 to 2028. The major drivers for this market are the emergence of industry 4.0, rapid industrial deployment of digital technology, and the widespread need for these cranes to safely lift and transport bulky and heavy objects in industrial settings.

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Overhead Crane Market by Segment

The study includes trends and forecast for the global overhead crane market by product type, business type, end use industry, and region, as follows:

Overhead Crane Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Single Girder
• Double Girder

Overhead Crane Market by Business Type [Shipment Analysis by Value from 2017 to 2028]:

• Original Equipment Manufacturers
• Aftermarket

Overhead Crane Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Automotive
• Metal and Mining
• Manufacturing
• Aerospace
• Utilities
• Shipyards
• Others

Overhead Crane Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Overhead Crane Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies overhead crane companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the overhead crane companies profiled in this report include.

• ABUS Kransysteme
• Columbus McKinnon
• EMH
• GH Cranes & Components
• Gorbel Cranes
• Kito

Overhead Crane Market Insights

• Lucintel forecasts that single girder is expected to witness a higher growth over the forecast period due to the substantial use of these cranes for medium- to light-duty applications owing its affordability.
• Automotive is expected to remain the largest end use industry segment due to the substantial use of these cranes to move and lift a variety of objects, from automotive components to a completely finished vehicle.
• APAC will remain the largest region due to the presence major manufacturing units and increasing government spending on infrastructure development in the region.

Features of the Overhead Crane Market

• Market Size Estimates: Overhead crane market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Overhead crane market size by various segments, such as by product type, business type, end use industry, and region
• Regional Analysis: Overhead crane market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different product types, business types, end use industries, and regions for the overhead crane market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the overhead crane market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the overhead crane market size?

Answer: The global overhead crane market is expected to reach an estimated $6.3 billion by 2028.

Q2. What is the growth forecast for overhead crane market?

Answer: The global overhead crane market is expected to grow with a CAGR of 5.2% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the overhead crane market?

Answer: The major drivers for this market are the emergence of industry 4.0, rapid industrial deployment of digital technology, and the widespread need for these cranes to safely lift and transport bulky and heavy objects in industrial settings.

Q4. What are the major segments for overhead crane market?

Answer: The future of the overhead crane market looks promising with opportunities in the automotive, metal and mining, manufacturing, aerospace, utilities, and shipyard sectors.

Q5. Who are the key overhead crane companies?

Answer: Some of the key overhead crane companies are as follows:

• ABUS Kransysteme
• Columbus McKinnon
• EMH
• GH Cranes & Components
• Gorbel Cranes
• Kito

Q6. Which overhead crane segment will be the largest in future?

Answer: Lucintel forecasts that single girder is expected to witness higher growth over the forecast period due to the substantial use of these cranes for medium- to light-duty applications owing its affordability.

Q7. In overhead crane market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to the presence major manufacturing units and increasing government spending on infrastructure development in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global overhead crane market by product type (single girder and double girder), business type (original equipment manufacturer and aftermarket), end use industry (automotive, metal and mining, manufacturing, aerospace, utilities, shipyards, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?