Overhead crane is a type of crane, used to displace, lift, and move heavy or bulky loads in the industrial environment. It is equipped with parallel runways with a hoist and a traveling bridge. Its lifting component mounted on a beam that moves in multiple directions. The crane is also known as suspended crane and bridge crane and, as it has high lifting proficiencies and can move objects via overhead space in the facility. It is operated either using wired pendant station or manually. Moreover, it can be fixed remotely with the help of wireless control. It is widely used to complete inside loading & unloading activities in manufacturing and storage facilities. It is also used to complete lifting operations in shipping port. It has large scope application across various end-user verticals for picking & placing heavy payloads.
The key benefits are included improved load control, maximize productivity, increased safety, transporting goods & move objects at a fast pace and easy lifting of loads.
According to study, “Global Overhead Cranes Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global overhead cranes market are KITO GROUP, GH Crane & Components, Konecranes Plc., Eilbeck Cranes, Terex Cranes, ZPMC, ABUS Kransysteme GmbH, Columbus Mckinnon Corp., Weihua Group, Sumitomo Heavy Industries Material Handling System Co. Ltd., Henan Shengqi, Gorbel, Cargotec, EMH Inc., Weihua, Jinrui, Ergonomic Partners, Henan Mine.
Based on crane type, overhead cranes market is segmented into fixed crane and mobile crane. Based on solution, market is segmented into service and product. Services segment is further sub-segmented into repair services, maintenance services and others (design, inspection, and training). Products segment is further sub-segmented into gantry crane, bridge crane and others (monorail crane, goliath crane, and workstation crane). The bridge crane includes single girder bridge cranes and double girder bridge cranes. Double girder bridge cranes hold major share in market owing to its feature as handle heavier capacities and longer spans. Based on operation type, market is segmented into electric, hydraulic and hybrid. In addition, based on end-user, market is segmented into paper, metal & mining, automotive, utility, aerospace, shipyards and others (chemical, transportation, logistics, and food & beverage).
The overhead cranes market is driven by growth in need for workplace safety in industrial applications, followed by rise in government investment in development of infrastructure activity, growth in factory automation, minimizes human intervention, rise in need to handle heavy loads to replace forklifts, and higher time optimization & reduced labor cost. However, lead time in supply chain and limited availability of skilled workforce to complete operation may impact the market. Moreover, rise in investment in manufacturing sector is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in overhead cranes market owing to large investment in the manufacturing sector and presence of key manufacturing companies in the region. The North-American and European regions are estimated to witness lucrative growth rate due to rise in construction activities and growth in technological advancements for safety purpose over the forecast period. In upcoming years, it is estimated that the market will be reached at rapid pace on account of change in preferences regarding safety & comfort along with rise in shifting focus towards compact & remote operated cranes during the forecast period.
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Ankur Gupta, Head Marketing & Communications