Fully Automated Segment is Expected to be Fastest Growing During Forecast Period for SAM Region
According to The Insight Partners market research study on “SAM 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$ 137.54 million by 2028 from US$ 105.26 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the SAM automated overhead crane market along with the drivers and restraints pertaining to the market growth. Rising number of distribution and warehousing centers and adoption of industry 4.0 for smarter lifting equipment are the major factor driving the growth of the SAM automated overhead crane market. However, high upfront costs involved in implementation and maintenance hinders the growth of SAM automated overhead crane market.
In case of COVID-19, SAM is highly affected specially Brazil. In the aviation industry, managing a hanger requires moving equipment that is heavy and huge. Engines, interiors, ailerons, and other crucial parts must be moved cautiously and placed accurately. An overhead crane makes sure that all such aspects of aviation assembly and repair are carried out carefully. Due to various limitations on air cargo, overhead cranes required in this sector observed significantly less demand. Overhead cranes are widely used for loading and unloading massive units at seaports. A seaport is considered as the gateway of international commerce, and these sites are considerably busy with arrival and departure of ships from all over the world. Due to cross border trade restrictions, international trade operations were reduced notably. This affected the demand for overhead cranes of various types required in the transportation industry. Consequently, this pandemic has also impacted the sales of respective spare parts and components related to automated overhead cranes. Since the governments announced containment measures, the region experienced decline in manufacturing and construction activities, which ultimately affected the adoption of automated overhead cranes from various end users. Moreover, the disruption in distribution of automated overhead cranes in the region affected the market from supply side. However, after the situation normalizes, this market will witness a promising growth in this region.
The SAM 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 SAM 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 SAM 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 SAM 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 Brazil and rest of SAM.
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 SAM 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 2021, Solid Stone is a company which specializes in stone manufacturing. They carry a large selection of stone in their manufacturing premises which include quartz, marble, porcelain, and granite. Dongqi Cranes manufactured two monorail cranes systems and these two systems were combined to make one long crane system with two bridges that worked well in given layout of the new premises.