The rise in governmental investment for the development of infrastructural activities drives the growth of overhead cranes market.
PORTLAND, OR, UNITED STATES, August 16, 2021 /EINPresswire.com/ — Overhead cranes also known as bridge cranes or industrial cranes are utilized for material handling applications in industrial spaces. It constitutes of parallel runways with a traveling bridge and a hoist. The lifting component of a crane moves in multiple directions through the overhead space in the facility. Further, overhead cranes find applications in automotive, aerospace, shipyards, paper, utility, and other industries.
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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Covid-19 Impact Analysis
The COVID-19 pandemic has negatively affected the overhead cranes market mainly due to halt in international trade, prolonged lockdowns, and ceased manufacturing processes. In addition, the major end-user companies located in countries such as the U.S., China, Germany, the UK, and others, are also facing financial impacts due to halted production, which is expected to hinder the growth of the overhead cranes market during 2020.
Top 10 Leading Players
ABUS Kransysteme GmbH
Columbus McKinnon Corporation (CMCO)
GH Cranes & Components
Ralf Teichmann GmbH
Sumitomo Heavy Industries Material Handling Systems Co., Ltd
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global overhead cranes market trends and dynamics.
An in-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive overhead cranes market opportunity analysis of all the countries is also provided in the report.
The global overhead cranes market forecast analysis from 2020 to 2027 is included in the report.
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Key Market Segments
By Business Type
Original Equipment Manufacturers (OEM)
Metal & Mining
Rest of Europe
Rest of Asia-Pacific
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