February 05, 2025 09:30 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd
Austin, Feb. 05, 2025 (GLOBE NEWSWIRE) -- The SNS Insider has released a report on the Overhead Cranes Market Report, which shows that the market valuation was USD 5.24 billion in 2023 and will grow to USD 8.68 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.78% between 2024 and 2032. Increasing automation and rising demand for smart lifting equipment in various end-use sectors such as construction, logistics, and manufacturing is expected to propel the market growth over the forecast period. sjy electric mobile scissor lift
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Overhead Cranes Market Report Scope:
By Type: In 2023, the bridge cranes segment accounted for more than 37% of the market share.
Such lifting solutions are indispensable in sectors demanding the accurate movement of heavy loads across wide areas. The significance of such machines is actualized by their crucial utility in fields like automotive, production of heavy machinery as well as infrastructure. Bridge cranes are designed to cross large areas with screenshots while maintaining operational precision, superior load management makes them the best option for companies that prioritize precision and safety in their production processes.
By Capacity Lifted: The "Up to 5 Ton" segment accounted for over 42% of total revenue in 2023. Light and midrange lifting systems are widely used throughout the production facility, storage depot, and distribution center as they are relatively cheaper and offer versatility. Them solutions address day-to-day operational requirements (product or materials handling to assembly jobs and lightweight machines movement). Their affordability and ease of integration into different industrial setups are making them popular. With enterprises prioritizing the efficiency of the supply chain and minimizing costs, lifting mechanisms are in constant demand, allowing productivity and secure handling of products when needed.
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In 2023, the Overhead Cranes Market's Asia-Pacific Lead, North America to Experience Rapid Growth
The Asia-Pacific region has dominated with a market share of over 36% in 2023. Regional growth is driven by developments in industries in China, India, Japan, and South Korea. Soaring manufacturing and warehousing activities are driving demand for progressive lifting solutions with infrastructure upgrades. Moreover, multiple manufacturing hubs and low-cost production processes support the position of Asia-Pacific in the world supply chain for these cranes.
North America is expected to witness the highest growth during the forecast period. Increasing adoption rates are primarily driven by expanding automotive production, aerospace advancements, and investments in the construction sector. Moreover, the only way to improve performance, safety, and energy efficiency in crane operations is to leverage the latest advancements in smart monitoring systems, IoT-based automation, and green energy sources. It further drives increased market penetration in the region by upgrading existing machines to integrate these inventions.
In June 2024: Liebherr's Ehingen facility in Germany unveiled its latest engineering breakthrough with the launch of the LTM 1400-6.1, recognized as the most powerful 6-axle crane in its category. Boasting a 70-meter extendable boom, this innovation ensures streamlined setup and optimized lifting capacity, replacing the well-regarded LTM 1350-6.1.
In August 2024: Konecranes unveiled its premier X-series lifting solution, replacing the widely popular CXT version. Boasting a sleek, space-efficient structure and cutting-edge, secure mechanisms, this innovation offers remote upgrade capabilities, ensuring adaptability for present and forthcoming client demands.
Table of Contents – Major Key Points
5. Statistical Insights and Trends Reporting
7. Overhead Cranes Market Segmentation, By Type
8. Overhead Cranes Market Segmentation, By Lifting Capacity
9. Overhead Cranes Market Segmentation, By End Use Industry
12. Use Cases and Best Practices
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