Global Overhead Cranes Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Overhead Cranes Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global overhead cranes market report has been segmented on the basis of the solution, end user, and region.

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Global Overhead Cranes Market: Overview

An overhead crane is also known as a crane, industrial crane, and overhead traveling crane, which is a type of crane that is used to move, lift or displace heavy to very heavy payload from one location to another. These cranes offer a range of benefits such as safety, improved load control, and easy lifting of loads, maximize productivity, along with transporting goods and move objects at a fast pace. Overhead cranes are primarily used to perform indoor unloading and loading activities in storage facilities and manufacturing.

Global Overhead Cranes Market: Dynamics

Increasing investments to develop domestic infrastructure is expected to drive demand for overhead cranes. Moreover, need to handle heavy loads to replace forklifts, minimizes human intervention, and reduces labor cost are some of the factors expected to drive growth of the overhead cranes market. In addition, it provides flexibility and can be customized with specialized tools are some factors expected to boost growth of the target market. Furthermore, heavy capital investment in oil & gas storage and increasing infrastructure developments are expected to fuel growth of the target market.

The recent trend observed in the target market is associations like Crane Manufacturers Association of America (CMAA), Monorail Manufacturers Association (MMA) and Hoist Manufacturers Institute (HMI) are focusing to check industry standard and promotional activities to increase the awareness of the assistance to overhead lifting. In addition, shifting focus towards compact and remote operated cranes along with changing preferences regarding safety and comfort are some factors providing potential opportunities for growth of the target market.

However, unavailability of skilled machine operators may hamper overhead cranes market growth.

Global Overhead Cranes Market: Segment Analysis

Among the solution segments, the services segment is expected to represent a major revenue share of the target market.

Among the end user segments, the automotive is expected to contribute significant revenue shares in the target market over the forecast period.

Global Overhead Cranes Market: Regional Analysis

Asia Pacific overhead cranes market is expected to observe a significant growth rate over the forecast period, attributable to the presence of key manufacturing companies along with the huge investments in the manufacturing sector. In addition, increasing investment in infrastructure development is projected to witness the fastest growth in terms of revenue. Additionally, the feature such as reduction of the labor expense, safety, and time-saving are some other factors expected to supplement overhead cranes market growth. Moreover, increasing technological advancements for safety purpose, the rising development in the industrial sector and in the real estate sector may provide opportunities to the market for further growth within the forecast period.

The market in North America is expected to witness significant growth, due to increasing construction activities in the US and Canada.

Global Overhead Cranes Market Segmentation:

Segmentation by Solution:

Product
Bridge Crane
Gantry Crane
Others (goliath crane, monorail crane, and workstation crane)
Services
Maintenance
Repair
Others (inspection, design, and training)

Segmentation by End User:

Automotive
Metal & Mining
Paper
Utility
Aerospace
Shipyards