Global Overhead Cranes Market 2024 To Reach $6.23 Billion By 2028 With A Growth Rate Of 6.6%

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The overhead cranes market is projected to grow strongly, from $4.54 billion in 2023 to $4.83 billion in 2024, with a CAGR of 6.5%. Growth drivers include the expansion of manufacturing and industrial sectors, construction and infrastructure projects, the need for efficient material handling, and government investments in infrastructure development.

What Is the Expected Size of the Global Overhead Cranes Market, and How Fast Will It Grow?
The market is expected to see strong growth, expanding to $6.23 billion by 2028 at a CAGR of 6.6%. This increase is attributed to the adoption of electric and hybrid cranes for green operations, lightweight crane designs, growth in e-commerce and logistics industries, and research in autonomous crane operation. Major trends include advanced crane materials, anti-collision systems, telematics, energy-efficient systems, and smart grid integration.

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What Is Accelerating Growth in the Overhead Cranes Market?

The rise in automation across industries is driving demand for overhead cranes. Automating tasks such as lifting and moving heavy goods improves productivity and reduces production lead times. A 2021 survey by Modern Materials Handling highlighted that automation, including the use of cranes and hoists, is becoming more prevalent, particularly in manufacturing, boosting the overhead crane market.

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Who Are the Major Players Influencing the Overhead Cranes Market's Growth?
Major companies operating in the market include ABUS Kransysteme GmbH, Columbus McKinnon Corporation (CMCO), EMH Inc., GH Cranes & Components, Gorbel Cranes, Ace Industries Inc., American Crane & Equipment Corporation, Cargotec Corporation, Eilbeck Cranes, Henan Yutian Crane Co. Ltd., Kito Corporation, Konecranes PLC., Ralf Teichmann GmbH, Sumitomo Heavy Industries Material Handling Systems Co. Ltd., Weihua Group, Whiting Corporation, Zenar Corporation, Dafang Crane, Demag Cranes & Components GmbH, HENAN DONGQI MACHINERY Co Ltd, Liebherr-International Deutschland GmbH, Rotrex Winches, Rud Ketten Rieger & Dietz GmbH u. Co KG, Rusch Kraantechniek BV, Ryders Winch International, Spanco Inc., Sumitomo Heavy Industries Material Handling Systems Co.Ltd., White Crane Compamy Inc.

What Are the Latest Trends Influencing Overhead Cranes Market Size?
Companies in the market are developing new products like radio solutions to attract a broader customer base and drive sales. Airmark, a new radio solution designed for overhead crane applications, offers various features. For example, in August 2023, Conductix-Wampfler GmbH, a US-based provider of energy and data management systems, launched Airmark. The radio solution comes as an all-inclusive package with receivers, transmitters, lanyards, batteries, labels, and user manuals. It includes features such as automatic channel selection, a pin code start option, and ergonomic transmitters, all designed to enhance crane operation efficiency.

How Is The Global Overhead Cranes Market Segmented?
The overhead cranes market covered in this report is segmented –
1) By Product Type: Bridge Cranes, Gantry Cranes, Monorail Cranes, Jib Cranes
2) By Type: Single Girder, Double Girder
3) By Operation Type: Electric, Hydraulic, Hybrid
4) By End User: Automotive, Metal & Mining, Paper, Utility, Aerospace, Shipyards, Other End Users

Geographical Insights: Asia-Pacific Leading The Overhead Cranes Market
Asia-Pacific was the largest region in the market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Overhead Cranes Market Definition
Overhead cranes refer to heavy-duty machinery that is capable of moving extremely heavy loads and equipment from one location to another in a precise manner using overhead space inside the facility. These cranes differ by size, type, shape, and configuration with components and accessories. They are widely used in moving materials, lifting dies from stamping machines, loading and unloading heavy goods and machinery, and feeding raw materials.

The Overhead Cranes Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Overhead Cranes Market Report: Trends, Opportunities, Strategies, and More
The Overhead Cranes Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into overhead cranes market size, overhead cranes market drivers and trends, overhead cranes market major players, overhead cranes competitors' revenues, overhead cranes market positioning, and overhead cranes market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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