Overhead Cranes Market Industry Growth, Analysis, Business Trends, Competitive Landscape by 2027

WILMINGTON, DE, UNITED STATES, September 17, 2024 /EINPresswire.com/ -- Overhead cranes, also referred to as bridge cranes or industrial cranes, are commonly used for material handling in industrial environments. These cranes consist of parallel runways supporting a traveling bridge equipped with a hoist. The lifting mechanism can move in various directions across the overhead space within a facility. Overhead cranes are widely employed in industries such as automotive, aerospace, shipbuilding, paper production, utilities, and many others.

The global overhead cranes market size is expected to reach $5.0 billion in 2027 from $3.8 billion in 2019, growing at a CAGR of 4.9% from 2020 to 2027. In 2019, Asia-Pacific dominated the market, in terms of revenue, accounting for 49.0% share of the global overhead cranes market.

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Driving Demands:
The global overhead cranes market is segmented on the basis of type, business type, end user, and region.

Based on type, the overhead cranes market is bifurcated into single girder and double girder. According to business type, the global overhead cranes market is categorized into original equipment manufacturer (OEM) and aftersales.

By application, the market is classified into automotive, metal & mining, paper, utility, aerospace, shipyards, and others.

Regional Analysis:
The global overhead cranes market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period, and LAMEA is expected to grow at the fastest rate.

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Top Players:
The major players operating in the overhead cranes industry include botek ABUS Kransysteme GmbH, Columbus McKinnon Corporation (CMCO), EMH, Inc., GH Cranes & Components, Gorbel Cranes, Kito Corporation, Konecranes Plc., Ralf Teichmann GmbH, Sumitomo Heavy Industries Material Handling Systems Co., Ltd., and Weihua Group.

Key Findings Of The Study

By type, the double girder segment dominated the overhead cranes market share in 2019.
By business type, the original equipment manufacturers (OEM) segment dominated the overhead cranes market during 2019.
Depending on end user, the automobile segment garnered major share of the overhead cranes market in 2019.
Region wise, Asia-Pacific dominated the market in 2019.
LAMEA is expected to witness a high growth rate during the forecast period.

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