PUBLISHER: The Business Research Company | PRODUCT CODE: 1653187
PUBLISHER: The Business Research Company | PRODUCT CODE: 1653187
Overhead cranes denote robust machinery capable of precisely relocating extremely heavy loads and equipment within a facility using the overhead space. These cranes vary in size, type, shape, and configuration, incorporating various components and accessories. They find extensive application in material handling, lifting dies from stamping machines, loading and unloading hefty goods and machinery, and facilitating the movement of raw materials.
The primary categories of overhead cranes encompass bridge cranes, gantry cranes, monorail cranes, and jib cranes, available in both single girder and double girder formats. Within the bridge cranes market segment, entities (organizations, sole traders, and partnerships) engage in the sale of bridge cranes. These cranes feature two parallel runways integrated into the building's support structure, with horizontal movement facilitated by a single or double girder structure referred to as a bridge. The trolley and hoist traverse side-by-side along the bridge. Bridge cranes play a crucial role in the multi-directional movement of materials, aiding in storage, manufacturing, unloading, or loading operations. They operate through electric, hydraulic, and hybrid systems and find applications in various industries such as automotive, metals & mining, paper, utility, aerospace, shipyard, and other end-user sectors.
The overhead cranes market research report is one of a series of new reports from The Business Research Company that provides overhead cranes market statistics, including overhead cranes industry global market size, regional shares, competitors with a overhead cranes market share, detailed overhead cranes market segments, market trends and opportunities, and any further data you may need to thrive in the overhead cranes industry. This overhead cranes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The overhead cranes market size has grown strongly in recent years. It will grow from $4.79 billion in 2024 to $5.09 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to growth in manufacturing and industrial sectors, expansion of construction and infrastructure projects, need for efficient material handling and lifting solutions, government investments in infrastructure development, demand for heavy lifting capabilities in ports and shipyards.
The overhead cranes market size is expected to see strong growth in the next few years. It will grow to $6.66 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to adoption of electric and hybrid cranes for green operations, focus on lightweight and compact crane designs, expansion of e-commerce and logistics industries, emphasis on customized and specialized crane solutions, research and development in autonomous crane operation. Major trends in the forecast period include use of advanced materials for crane components, anti-collision and safety systems, crane telematics and fleet management systems, energy-efficient and regenerative crane systems, smart grid integration for grid-connected cranes.
The growing automation of various activities within the industrial sector is fueling the demand for the overhead cranes market. Automating labor-intensive tasks, such as the lifting and movement of heavy goods, enhances productivity in the manufacturing process and reduces lead times for production. The benefits of overhead cranes, coupled with advancements in crane technology, are boosting industrialists' confidence in their use, as these cranes are cost-effective and ensure completely safe operations when handling heavy products. For example, in August 2022, data published by AmyGB, a U.S.-based artificial intelligence research firm specializing in intelligent automation solutions, indicated that by 2025, autonomous robots and cranes would handle up to 50% of all e-commerce orders. Furthermore, by 2028, the average order fulfillment time is expected to decrease from four hours to just thirty minutes, with warehouse productivity projected to rise by 27% by 2022. Consequently, the increase in automation across various industrial activities is driving growth in the overhead cranes market.
The expanding construction industry is poised to drive the overhead crane market's growth. This sector, encompassing planning, designing, building, and maintenance of structures, involves the transportation of heavy materials like steel beams and concrete blocks. Overhead cranes emerge as efficient and secure solutions for material movement on construction sites. A February 2022 report from the UK's Office for National Statistics indicated a significant annual increase of 12.7% in the construction sector. The growth is attributed to a 2.0% monthly increase in construction output volume in December 2021, fueled by a 3.5% rise in new construction projects. The fourth quarter of 2021 witnessed a 1.0% increase in the construction industry's production compared to the third quarter, underscoring the positive impact of the growing construction industry on the overhead crane market.
Product innovations are influencing the overhead cranes market significantly. Major players in this sector are developing advanced technologies in crane ropes, such as synthetic ropes, to enhance the operational performance of their systems and implementing performance diagnostics solutions for early maintenance detection. For example, in August 2024, Konecranes, a Finland-based company specializing in cranes and lifting equipment, introduced its flagship Konecranes X-series industrial crane, which replaces the well-known CXT model. This new crane features a compact design and incorporates safe, reliable technology that can be adapted to customer needs both now and in the future through wireless updates. The Konecranes X-series aims to revolutionize industrial lifting with innovative technology and a lifting capacity of up to 20 tons.
Major companies in the overhead crane market are creating new products, such as radio solutions, to cater to larger customer bases, boost sales, and increase revenue. Airmark is a radio solution specifically designed for overhead crane applications, featuring a wide range of functionalities. For example, in August 2023, Conductix-Wampfler GmbH, a US-based provider of energy supply and data management systems, introduced Airmark, the latest radio solution tailored for the North American overhead crane market. A key highlight of this product is its all-inclusive package, which comes ready for use and includes a single receiver, dual transmitters, a pair of lanyards, batteries, two labels, and a user manual. Furthermore, it is equipped with a pre-installed indicator horn, light, and antenna, along with ergonomically designed primary and backup transmitters, automatic channel selection, a pin code startup option, adjustable time-out, and numerous other features.
In a strategic move to broaden its presence in the overhead crane systems and hoists sector, American Equipment Holdings, a USA-based provider, acquired Eastern Crane and Hoist in January 2022. The acquisition, aimed at undisclosed financial terms, is geared towards expanding American Equipment's geographical footprint in production and maintenance, repair, and overhaul (MRO) services.
Major companies operating in the overhead cranes market include ABUS Kransysteme GmbH, Columbus McKinnon Corporation (CMCO), EMH Inc., GH Cranes & Components, Gorbel Cranes, Ace Industries Inc., American Crane & Equipment Corporation, Cargotec Corporation, Eilbeck Cranes, Henan Yutian Crane Co. Ltd., Kito Corporation, Konecranes PLC., Ralf Teichmann GmbH, Sumitomo Heavy Industries Material Handling Systems Co. Ltd., Weihua Group, Whiting Corporation, Zenar Corporation, Dafang Crane, Demag Cranes & Components GmbH, HENAN DONGQI MACHINERY Co Ltd, Liebherr-International Deutschland GmbH, Rotrex Winches, Rud Ketten Rieger & Dietz GmbH u. Co KG, Rusch Kraantechniek BV, Ryders Winch International, Spanco Inc., Sumitomo Heavy Industries Material Handling Systems Co.Ltd., White Crane Compamy Inc.
Asia-Pacific was the largest region in the overhead cranes market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the overhead cranes market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the overhead cranes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The overhead cranes market consists of sales of workstation cranes, top-running, and under-running. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Overhead Cranes Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on overhead cranes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for overhead cranes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The overhead cranes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.