Overhead Cranes Market Worth to Outgrow by USD 4.9 BN By 2027
Posted On March 18, 2021
According to the research report by Value Market Research, the Global Overhead Cranes Market is likely to grow to USD 4.9 BN by 2027 with a CAGR of 4.5%% during the year 2021-2027. The growing need to process and handle heavy, oversized objects in many industrial sectors is the key driver for the overhead cranes market’s growth. Warehouses where overhead cranes play a significant role in maximizing productivity, quickly transporting goods and objects around the facility will be the main contributor to this market’s growth. These cranes increase floor space, safety, and efficiency and are sought after in several industrial sectors like power systems, shipbuilding, and aviation. The booming international commerce industry, primarily via the sea, will provide lucrative opportunities for market growth. Increased infrastructure development projects worldwide will be a market booster. Overhead cranes playing a vital role in manufacturing or maintenance industry applications, where downtime and efficiency are critical factors will further increase their market value. This market’s main challenge is to use the cranes for specified lift capacity to avoid the risk of accidents or failure.
Overhead crane is an industrial machine used to lift, lower, or move loads horizontally through a facility’s overhead space. They have high lifting capacities and are directed by an operator.These cranes can be controlled manually, with a wired pendant station or wireless controls to guide their electric- or pneumatic-powered travel. They offer multi-directional movement, and materials are used in many sectors like warehousing, assembly, transportation, and storage to load or unload materials inside a facility, outside in a yard, or at a railway or shipping port. They are available in many types and are customizable by adding accessories like lifting beams, spreader beams, roll & coil lifters, tongs, sheet lifters, and pallet lifters.
"Global Overhead Cranes Market Report By Type (Single Girder, Double Girder, Others), By Business Type (Original Equipment Manufacturers (OEM), Aftersales), By End User (Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of Type the market is segmented into Single Girder, Double Girder, Others. By Business Type the overhead cranes market is categorised as Original Equipment Manufacturers (OEM), Aftersales. By End User the overhead cranes market is categorised as Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, Others. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Overhead Cranes is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global Overhead Cranes Market -
- Single Girder
- Double Girder
By Business Type
- Original Equipment Manufacturers (OEM)
By End User
- Metal & Mining
- North America
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Cargotec Corporation, Brehob Corporation, The Liebherr Group, Gorbel, Inc., KITO Corp., American Crane Norway A/S, D.R. Cordell & Associates, Inc., XCMG Group, Konecranes, Inc., ACE World Companies.
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