KONECRANES, SUMITOMO HEAVY INDUSTRIES LTD. DONGQI CRANE, THE LIEBHERR GROUP, CARGOTEC CORPORATION ARE AMONG THE KEY MARKET PLAYERS OPERATING IN THE OVERHEAD CRANES MARKET.
Overhead cranes are used in industries for material lifting in the manufacturing or maintenance applications. It is used to lift or move heavy and bulky loads from one location to another precisely. Its functions include loading and unloading materials, controlling object movements in an assembly line, and moving containers. Additionally, it manages tasks such as assembly, transportation, staging, storage, and warehousing. Furthermore, it improves overall efficiency and workplace safety, reduces downtime, and maximizes production. Different overhead cranes include bridge, jib, monorail, gantry, and workstation cranes. These cranes are operated by a control pendant and remote pendant or from an operator cabin attached to the crane, which is managed electrically.
In recent years, there has been a growing reliance on automation in several applications, from warehousing and manufacturing processes to distributions. Manufacturing sectors are shifting to highly automated and process-driven manufacturing processes. Industry operations increasingly depend on automation due to the initiatives by the governments and manufacturers to boost the manufacturing sector. Thus, rising investments in the manufacturing sectors drive the growth of the overhead crane market. Overhead cranes are widely used for material lifting operations in warehouses and distribution centers. Therefore, the need for overhead cranes is rising in warehousing and distribution centers to improve overall workflow efficiency. The market growth is also driven by the need for workplace safety in industrial sectors.
𝗚𝗿𝗮𝗯 𝘁𝗵𝗲 𝗣𝗗𝗙 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗺𝗼𝗿𝗲: https://www.theinsightpartners.com/reports/overhead-cranes-market
The overhead cranes market is segmented into five major regions – North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific led the market in 2020. The market growth in the region is mainly driven by the companies’ increasing investments in manufacturing sector and growing need for workplace safety in industrial applications.
The APAC is expected to hold a significant share in the overhead cranes market. The APAC region houses a large number of overhead crane manufacturers, especially China. The significantly large industrial sector has led the country to establish noteworthy number of overhead crane manufacturers that supply semi-automated as well as fully overhead cranes. In addition, the massive manufacturing sector across industries in China has been reflecting higher demand for overhead cranes over the years. This parameter has been catalyzing the overhead cranes market in the country. Furthermore, Apart from China, Japan and India are the two major countries in the APAC overhead crane market. The two countries have substantial number of overhead crane manufacturers, as well as observing significant paradigm shift in respective industrial sectors. The demand for overhead cranes is surging consistently in the two countries owing to rise in number of manufacturing facilities, warehousing and distribution centers, and sea-port activities. Additionally, Japan’s shipbuilding sector is massive and showcase higher demand for overhead cranes for various applications. These factors are responsible for the growth of the overhead crane market in the region.
The top ten companies in the market include Ace world Co, Sumitomo Heavy Industries Ltd, Liebherr-International Deutschland GmbH, Demag Cranes & Components GmbH, ABUS Kransysteme GmbH, American Crane & Equipment Corp, Konecranes Plc, Gorbel Inc, HENAN DONGQI MACHINERY Co Ltd, Whiting Corp, Weihua Group Co Ltd and Cargotec Corp. The above listing of key players is derived by considering multiple factors such as overall revenue, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the industry’s important market initiatives and product developments are mentioned below. A few of the important market initiatives and product developments from the industry are mentioned below:
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Year |
News |
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2022 |
Ace World Companies has installed two 250-tonne capacity cranes, each with 25-tonne capacity auxiliary hoists, at a new manufacturing facility in Cape Canaveral, USA. |
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2022 |
Hitachi Construction Machinery Transfers its Shareholding in Sumitomo Heavy Industries Construction Cranes to Sumitomo Heavy Industries. Hitachi Construction announced that it has agreed to transfer all its holdings (27,200 shares, 34% of voting rights held) in equity-method affiliate company, Sumitomo Heavy Industries Construction Cranes Co., Ltd., to Sumitomo Heavy Industries, Ltd., the parent company of Sumitomo Heavy Industries Construction Cranes and has concluded a transfer agreement |
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2022 |
The Demag DRS range has gained a reputation as a reliable wheel block system – not only in cranes but also in several applications. Demag launched new generation DRS-M wheel block. Among other benefits, the new wheel blocks feature a rugged, modular design and versatile connection possibilities on five sides. Also new is the optional mechanical wear measurement of the wheel. |
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2022 |
Liebherr will unveil its first large cranes featuring a fiber rope and its first hydraulic luffing jib crane at the construction machinery show in Munich. Whether for enormous hook heights or particularly constricted sites – these new cranes enhance Liebherr’s reputation as a reliable partner on sites of all types. At the same time, Liebherr is working on new technologies to make crane operations safer and more economical. |
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2022 |
America Crane and Equipment Corp. merges technology with overhead lifting for the future of manufacturing |