- 21 June 2019 16:03
Overhead Cranes Market | Business Evaluation, Dimension, Industry Grow At CAGR Of 3.8%, Trends And Forecasts 2019-2028
Overhead crane is also called as a suspended crane and bridge crane, due to its high lifting capabilities along with the capacity to move objects easily. It is operated either using wired pendant station or manually. Overhead crane has large scope application across end-user verticals for picking & placing and moving materials. Hence, these cranes are flexible to operate in any industrial application. In addition, due to feature such as shipping or handling a heavy load, overhead cranes replaces multiple forklifts.
Overhead cranes are mainly of three types such as single-girder overhead cranes, double-girder overhead cranes, and others. On the basis of application, the target market is segregated into the steel industry, the automobile industry, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
The overhead crane market is estimated to register significant growth during the forecast period owing to increasing investments in infrastructure development and the need for workplace safety in the industrial sector. Moreover, the requirement to handle heavy loads to replace forklifts and minimizes human intervention has significantly affected growth of the target market positively. Also, automated systems are used in the overhead cranes to improve the work precision, reduces product damage, and reduces operational time. All such factors are driving growth of the overhead cranes market across the globe. On the other hand, increasing investment in the manufacturing sector is expected to create a lucrative opportunity for market players operating in the target market. The restrictive factors for growth of the target market include limited availability of highly skilled machine operators and high lead time in the supply chain. Whereas, GROWING demand for crane rentals is one of the major trends in the overhead cranes market. Crane rentals offer benefits such as safety, reduction in cost and time, and lowers maintenance issues.
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Significant growth in infrastructure investment along with the presence of key manufacturing companies is expected to drive the Asia Pacific overhead cranes market in the coming years. Moreover, rapid urbanization, industrialization, economic growth, and high disposable income, giving a new way for growth of the target market. In addition, several manufacturing companies are focusing to expand businesses in the region, which require overload cranes to lift or carry heavy and bulky loads. The markets in Europe, the middle east & Africa, and North America are also expected to observe moderate growth during the forecast period.
Major players profiled in the report include Terex, Eilbeck Cranes, EMH, SPANCO, Baumer, Konecranes, Morris, Gorbel Inc., Shanqi Heavy and DHI DCW OBrien, DESHAZO, GH Cranes, ERIKKILA OY, Orit, Tavol Group, Tianjin Hoisting, Henan Mine, Weihua, and Zhuzhou Tianqiao.
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