Gantry Crane Segment to Dominate North America Automated Overhead Crane Market During 2021–2028
According to The Insight Partners market research study on “North America 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$ 690.78 million by 2028 from US$ 456.56 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the North America automated overhead crane market along with the drivers and restraints pertaining to the market growth. Increasing automation in the manufacturing sector and rising development of automated shipbuilding cranes are the major factor driving the growth of the North America automated overhead crane market. However, high implementation and maintenance cost hinders the growth of North America automated overhead crane market.
In case of COVID-19, North America is highly affected specially the US. Due to various restrictions and limitations, construction, manufacturing, and metal & mining industries showed declined production. All these affected the related trading activities, leading to an economic slowdown. Moreover, owing to the imposition of strict containment measures, operations were permitted with limited number of employees only. This hampered the production activities in the US. Overhead cranes are essentially required at several job sites. These cranes help in moving heavy loads from one place to another, increasing the floor space, efficiency, and safety. Owing to restriction of trade operations, the region has experienced significant decline in the adoption of automated overhead cranes from demand side in 2020. The ship building industry in Canada suffered adversely due to this pandemic. Ship hulls are massive and are shaped irregularly. Moving and shifting heavy tools, equipment, components, and parts around the inside of a slanted hull can be difficult without the help of an overhead crane. A wide spanning heavy gantry cranes are required essentially for building ship hulls. However, gantry cranes were among the cranes that observed significant reduction in their sales. Moreover, as economies reopen and trade restriction get relaxed, the automated overhead crane market is expected to witness a steady growth in North America.
The North America 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 North America 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 North America 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 North America 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 US, Canada, and Mexico.
Acculift; DONGQI GROUP; EMH, Inc; EntsorgaFin S.p.A.; Konecranes Oyj; Kundel Industries Inc.; Sumitomo Heavy Industries Material Handling Systems Co., Ltd.; and Weihua Group are among the leading companies in the North America 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, The EGM approved the merger of Konecranes into Cargotec Corporation in accordance with the merger plan signed by the Boards of Directors of Konecranes and Cargotec on 1st October 2020.