Bridge Crane Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to The Insight Partners market research study on “MEA Automated Overhead Crane Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Level of Automation, and Industry” is expected to reach US$ 241.54 million by 2028 from US$ 174.96 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the MEA automated overhead crane market along with the drivers and restraints pertaining to the market growth. Burgeoning adoption of industry 4.0 for smarter lifting equipment and growing number of distribution and warehousing centers are the major factor driving the growth of the MEA automated overhead crane market. However, costly installation and maintenance hinders the growth of MEA automated overhead crane market.
In case of COVID-19, MEA is highly affected specially Turkey and South Africa. MEA automated overhead crane market is majorly affected by the disruption in the national and international supply chains. Gulf countries have got many oil companies that require overhead cranes for their operations. Several governments announced travel restrictions, the movement of people was limited and thus the demand for fuels was reduced. Since the demand for fuels, i.e., petrol and diesel, was decreased, this impacted the need for overhead cranes at offshore oil rigs, petroleum plants, and refineries. Considering lifting and material handling requirements in cement and concrete factories, workers need gantry cranes in the yard and bridge cranes in factories. Since the overall demand for cement was shrunk, the requirement of gantry cranes and bridge cranes adopted in cement and concrete factories was also reduced. However, post pandemic, the automated overhead cranes market is expected to rise considerably in this region.
The MEA automated overhead crane market is segmented on the basis of type, level of automation, industry, and country. Based on type, the market is segmented into bridge cranes, gantry cranes, monorail cranes, jib cranes, and others. The gantry cranes segment dominated the MEA automated overhead crane market in 2020 and bridge cranes segment is expected to be fastest growing during forecast period. Based on level of automation, the market is segmented into semi-automated and fully automated. The semi-automated segment dominated the MEA automated overhead crane market in 2020 and fully automated segment is expected to be fastest growing during forecast period. Based on industry, the market is bifurcated into manufacturing, shipbuilding, metals and steel, and others. The manufacturing segment dominated the MEA automated overhead crane market in 2020 and others segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
DONGQI GROUP; EMH, Inc; EntsorgaFin S.p.A.; Konecranes Oyj; Sumitomo Heavy Industries Material Handling Systems Co., Ltd.; and Weihua Group are among the leading companies in the MEA automated overhead crane market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Weihua has designed and developed this special crane considering the production process requirements of electrolytic copper. This crane is suitable for special working environments like high humidity, corrosion and metal dust and is designed with high standards.