Global Overhead Cranes Market Report and Forecast 2024-2032

Global Overhead Cranes Market Size

The global overhead cranes market attained a value of USD 4.15 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR 4.91% to reach USD 6.40 billion by 2032.

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Overhead Cranes Market Growth

Based on end user, the automotive segment is expected to hold a significant share of the industry in the forecast period. The product demand is expected to grow as the automotive industry is rapidly expanding and has a highly automated manufacturing process. Cranes are critical to the factory line production process, so this is a significant market for overhead cranes in this segment. Assembly lines are a common application for overhead cranes in the automotive industry. They transport automotive materials from one station to the next until the finished product is complete, making assembly lines much more efficient. Meanwhile, the manufacturing segment is expected to witness a considerable growth in the forecast period owing to the efficient handling of numerous heavy loads and the need to ensure the safe, efficient, and quick transfer of material from one stage to another.

The Asia Pacific Dominates the Global Market for Overhead Cranes

Geographically, the Asia Pacific accounts for a dominant share in the industry due to the increasing innovations in the automotive sector and the increasing government investments to encourage the adoption of overhead cranes to ensure workplace safety. The Asia Pacific is the largest producer of goods worldwide due to the presence of manufacturing giants such as China, Japan, and South Korea. In addition, India's rapidly expanding manufacturing industry, with favourable government initiatives and manufacturing processes being streamlined to a greater extent, is expected to become one of the world's largest, thus, providing ample growth opportunities to the industry. These reasons are driving the market for overhead cranes in the region.

Overhead Cranes Industry Segmentation

An overhead crane is commonly known as a bridge crane. It is a type of crane typically found in the industrial environment. An overhead crane is made up of parallel runways connected by a travelling bridge. It enables you to precisely lift and move heavy materials from one location to another. It is commonly used in manufacturing or maintenance applications where efficiency and downtime are critical factors. The two most important reasons for installing overhead cranes are efficiency and safety. Overhead cranes can operate at a much faster rate than floor or land-based machinery. The cranes can safely move materials in hazardous, dangerous, and severe conditions, such as where there are heated metals, chemicals, or toxic materials, without endangering workers.

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By type, the market is divided into:

• Single Girder
• Double Girder

Based on business type, the industry can be segmented into:

• Original Equipment Manufacturer
• Aftermarket

On the basis of end user, the industry can be categorised into:

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

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Investments to Develop Infrastructure to Bolster the Growth of the Overhead Cranes Industry

The global overhead cranes industry is being driven by the increasing government investments to develop domestic infrastructure, which demands shipping or handling of heavy loads and improved labour safety. As overhead cranes can help transfer bulky and heavy loads in industrial spaces and facilitate smooth lifting operations, their demand has been increasing to enhance workplace safety. Over the forecast period, the growing demand for overhead cranes in the automotive and manufacturing sectors are expected to significantly contribute to the industry growth.

Key Industry Players in the Global Overhead Cranes Market

The report presents a detailed analysis of the following key players in the global overhead cranes market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• ABUS Kransysteme GmbH
• Columbus McKinnon Corporation
• EMH, Inc
• GH Cranes & Components
• Gorbel Cranes 
• Kito Corp
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

Overhead Cranes Market Report Snapshots

Overhead Cranes Market Size

Overhead Cranes Market Growth

Overhead Cranes Companies