Automated Overhead Cranes Market is expected to reach US$ 2,928.59 million by 2028

Growing Automation in Manufacturing Sector to Provide Growth Opportunities for Automated Overhead Cranes Market During 2021–2028

According to our latest market study on “Automated Overhead Cranes Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Level of Automation, and Industry,” the market is expected to grow from US$ 1,854.10 million in 2021 and is projected to reach US$ 2,928.59 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

The global automated overhead cranes market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. In 2020, APAC led the market with a substantial revenue share, followed by Europe and North America. With rising advancements in technology, almost every operation works in tandem in an end-to-end industrial and manufacturing environment. There are new forms of discrete and process manufacturing—sensors, connected objects, and smart machines—that are evolving and changing the ecosystem of how exchange and collaboration between people, machines, data, and technologies were done earlier. Today’s manufacturing facilities heavily relies on collecting, sorting, and analyzing the data and information, and turning them into business values using smart technologies.

The automation of cranes helps end users gain sustainable competitive advantage by enabling them with the ability to alter or change the material handling process with respect to market change on a real-time basis. The automated overhead cranes consist of a hoist and a trolley connected to a support structure, which is also called a girder. The girder attached to the cranes permits the trolley and the hoist to travel from side-to-side along the length of the crane. The overhead cranes used in the manufacturing industry are distinguished into two main types—single girder crane and double girder crane. They have applications in manufacturing units of automotive, shipyards, aerospace, utility, and other industries. The rising adoption of automation in manufacturing industries is anticipated to drive the overhead cranes industry. Growing advancements in manufacturing processes support in creating high requirement for advanced machinery such as automated overhead cranes.

Market Segmentation

The global automated overhead cranes market is segmented on the basis of type, level of automation and industry. The market, based on type, is segmented into bridge crane, gantry crane, monorail crane, jib crane, and others. The automated overhead crane market is bifurcated on the basis of level of automation as semi-automated and fully automated. On the basis of industry, the market is segmented into manufacturing, shipbuilding, metals and steel, and others. The automated overhead cranes market has been analyzed from five strategic region’s perspective, namely – North America (US, Canada, Mexico), Europe (France, Germany, Italy, UK, Russia, Rest of Europe), APAC (Australia, China, India, Japan, South Korea, Rest of APAC), MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA), and SAM (Brazil and Rest of SAM)

Impact of COVID-19 Pandemic on Automated Overhead Cranes Market

The COVID-19 outbreak has affected the world severely and its impact is still being felt in several countries across the globe. Until the outbreak of COVID-19, the crane industry was witnessing considerable growth in many regions; however, the pandemic led to notable decline in the adoption of automated overhead cranes, including bridge cranes, gantry cranes, monorail cranes, and jib cranes. Owing to the containment measures such as business shutdown, lockdowns, and travel restrictions, the production and supply chain of automated overhead cranes was adversely impacted. As many countries strictly implemented containment measures to control the surging number of COVID-19 cases, the trading activities were majorly affected, which further impacted the manufacturing of automated overhead cranes from the supply side till 2020. However, over the last quarter of 2020, many trade operations have started picking pace and the market players have begun experiencing some growth in the demand for automated overhead cranes.

DONGQI GROUP; Konecranes Oyj; EMH, Inc; EntsorgaFin S.p.A; Henan Clescrane System Co., Ltd.; Hoist UK, Kundel Industries Inc.; Weihua Group; Sumitomo Heavy Industries Material Handling Systems Co., Ltd.; and Acculift are among the major companies operating in the automated overhead cranes market.

Automated Overhead Cranes Market — by Geography, 2020 and 2028 (%)

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Automated Overhead Cranes Market to Grow at a CAGR of 6.7% to reach US$ 2,928.59 million from 2021 to 2028

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Automated Overhead Cranes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Bridge Crane, Gantry Crane, Monorail Crane, Jib Crane, and Others), Level of Automation (Semi-Automated and Fully Automated), and Industry (Manufacturing, Shipbuilding, Metals and Steel, and Others)