Wilmington, Delaware, Feb. 12, 2025 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Overhead Cranes Market by Type (Single Girder and Double Girder), Business Type (Original Equipment Manufacturer (Oem) and Aftermarket), and End-user Industry (Automotive, Metal & Mining, Manufacturing, Construction, Utilities, Shipyards, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the “overhead cranes market” was valued at $5 billion in 2023, and is estimated to reach $7.6 billion by 2032, growing at a CAGR of 4.8% from 2024 to 2032.
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Prime determinants of growth
Rapid industrialization in developing regions, coupled with increasing investments in infrastructure projects like bridges, ports, and warehouses, fuels the demand for efficient material handling solutions. As industries strive for higher productivity and operational efficiency, overhead cranes are increasingly being adopted to streamline workflows and minimize downtime.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $5 billion |
| Market Size in 2032 | $7.6 billion |
| CAGR | 4.8% |
| No. of Pages in Report | 192 |
| Segments covered | Type, Business Type, End-user Industry, and Region. |
| Drivers |
|
| Opportunity | Growth in E-commerce and Warehousing |
| Restraint | Economic volatility |
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COVID-19 Scenario
- The outbreak of the COVID-19 pandemic had a negative impact on the overhead cranes market, owing to the temporary closure of manufacturing firms during the lockdown.
- Not only the production but also the sale of overhead cranes was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic.
The Single Girder segment dominated the global market share, in terms of revenue.
By type, the market is bifurcated into single girder and double girder. The single girder segment held the maximum share in the market in 2023. Single girder cranes are widely adopted in industries with limited space and lower load requirements, contributing to their dominance in the market. The double girder segment, while offering higher load capacity and larger spans, is typically preferred for heavy-duty operations and more extensive industrial applications.
The Original equipment manufacturer (OEM) segment dominated the market in 2023.
By business type, the overhead cranes market is categorized into original equipment manufacturer (OEM) and aftersales. The original equipment manufacturer (OEM) segment held the maximum share in the market in 2023. OEMs play a critical role in providing customized, high-quality crane systems tailored to specific operational needs, contributing to the segment’s dominance. While the aftersales segment, including maintenance, repair, and parts replacement, also holds significance, the need for new crane systems for expanding infrastructure continues to bolster the OEM sector.
The Manufacturing segment dominated the global market share in terms of revenue.
By application, the market is classified into automotive, metal & mining, manufacturing, construction, utilities, shipyards, and others. Manufacturing segment held the maximum share in the market in 2023. Overhead cranes are essential in manufacturing industries for moving heavy materials, components, and finished products, ensuring smooth workflow and increased productivity. The widespread use of cranes in sectors such as automotive, electronics, and consumer goods manufacturing further contributes to the dominance of this segment in the market.
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The Asia-Pacific dominates the market share in terms of revenue in 2023
The overhead cranes market is analyzed across North America, Europe, Asia-Pacific, and Latin America. In 2023, Asia-Pacific accounted for largest segment share, and it is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the overhead cranes industry in the Asia-Pacific region. Rapid urbanization, industrialization, and infrastructure development in these regions present significant growth opportunities for overhead cranes providers. Increasing investments in commercial and industrial sectors offer potential for market expansion.
Leading Market Players: –
- Weihua Group
- Kito Corp
- EMH, Inc
- Columbus McKinnon Corporation
- Gorbel Cranes
- ABUS Kransysteme GmbH
- Ralf Teichmann GmbH
- GH Cranes & Components
- Sumitomo
- Konecranes
The report provides a detailed analysis of these key players in the overhead cranes market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the overhead cranes market analysis from 2023 to 2032 to identify the prevailing overhead cranes market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the overhead cranes market forecast and segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global overhead cranes market trends, key players, market segments, application areas, and market growth strategies.
Overhead Cranes Market Key Segments:
By END-USER INDUSTRY
- Automotive
- Metal and mining
- Manufacturing
- Construction
- Utilities
- Shipyards
By TYPE
- Double girder
- Single girder
By BUSINESS TYPE
- Original equipment manufacturer (OEM)
- Aftermarket
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Italy, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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