Overhead Crane Market Size - By Cranes (Gantry Crane, Jib Crane, Bridge Crane), By Lifting Capacity (Light Duty, Medium Duty, Heavy Duty), By Business (Original Equipment Manufacturer (OEM), Aftermarket), By Industry & Forecast, 2024 - 2032

Overhead Crane Market Size

Overhead Crane Market size was valued at USD 4.8 billion in 2023 and is estimated to register a CAGR of over 6% between 2024 and 2032. The rising demand in end-user industries such as manufacturing, construction, and power generation is driving market growth. As these industries expand, their output requirements increase, creating a demand for goods transport, heavy lifting, and shorter turnaround times.

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Overhead crane become critical for efficiently managing these higher workloads. They can automate repeated lifting jobs, allowing workers to focus on more complicated tasks, lowering the risk of accidents associated with the physical lifting of large objects, and improving overall efficiency by expediting material handling procedures.

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The growing infrastructure development around the world is fueling the adoption of overhead cranes market. Large-scale infrastructure projects, such as bridges, dams, and power plants, need the transportation and installation of enormous, prefabricated components, heavy gear, and building materials. Overhead cranes, with their excellent lifting capacity and mobility, are essential for various phases of construction. For example, during the early groundwork, they might be utilized to lay hefty foundation pieces.

As construction develops, they may be used to lift and install steel beams, pre-cast concrete pieces, and other building components. Furthermore, overhead crane manufacturers focus on responding to different project requirements by providing a variety of setups. For example, cranes with a greater span may be required for bridge building to reach long distances. Shipyards manufacturing enormous vessels require cranes with exceptional lifting capability.

For instance, in March 2024, the Press Information Bureau of India (PIB), under the Ministry of Information and Broadcasting, issued a report on the "Decade of Infrastructure Development in India." The report highlights significant advancements and investments aimed at positioning the country as a global manufacturing center and achieving economic growth objectives.

Key achievements include a 500% rise in budget allocation for road transport and highways, redevelopment plans for 1,318 stations, electrification of 61,508 route kilometers, addition of 697 kilometers of metro rail network in the past decade, and operationalization of 84 airports under UDAN. Such developments underscore the overall expansion in infrastructure development, which in turn, stimulates growth in the overhead crane market.

The high initial investment necessary for acquiring and maintaining overhead cranes poses a major challenge to the market, potentially slowing down its growth. These cranes are highly sophisticated pieces of technology. Their design, materials, and production techniques all contribute to a high price point. This may be a considerable challenge, particularly for Small & Medium-sized Businesses (SMBs) with limited resources. They may need to take out loans or obtain finance to purchase a crane, affecting their cash flow. Installation necessitates skilled workers and specific equipment to guarantee appropriate performance and safety.

Furthermore, integrating the crane with existing infrastructure or automation systems incurs additional engineering and setup expenditures. Also, overhead cranes require regular maintenance to ensure their safe functioning. This involves inspections, lubrication, and the replacement of worn-out components. These continuing expenditures can accumulate over time, resulting in a long-term financial commitment for firms.

Overhead Crane Market Trends

Overhead cranes are witnessing significant technological advancements. Advanced technologies, such as automation, variable-speed drives, and automated positioning systems, enable overhead cranes to operate more precisely and quickly. This equates to more efficient material handling, which reduces total production time and personnel costs. Innovations including collision avoidance systems, overload protection, and sway control have improved worker safety, decreasing the likelihood of accidents and injuries with overhead cranes.

Advancements in remote monitoring enable real-time observation of crane performance and health. This enables predictive maintenance, which identifies possible problems before they cause significant damage. It also lowers the need for human inspections, increasing overall safety and lowering maintenance costs.

For instance, in July 2023, Sarens developed an adaptable gantry overhead crane system for lifting monopiles for offshore wind farms. This innovative system, designed in collaboration with EEW Special Pipe Constructions GmbH, is capable of handling monopiles weighing between 375 and 1,900 tonnes and with lengths ranging from 23 to 85 meters. The system features two gantries that can lift loads of up to 1,900 tons, with a height of 24 meters and a width of 25 meters. These gantries are equipped with 650-ton strandjacks connected to a spreader bar, allowing them to handle monopiles of various diameters.

Overhead Crane Market Analysis

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Based on cranes, the market is divided into gantry crane, jib cranes, bridge cranes, and others. The bridge cranes segment accounted for a market share of over 34% in 2023 and is expected to exceed USD 3.4 billion by 2032. Bridge cranes have the most adaptable design among overhead cranes. They consist of a horizontal bridge construction that spans an area, allowing the hoist and trolley to travel across it. Owing to their adaptability, they may be used in a variety of sectors and satisfy individual requirements. They are available in single or double-girder configurations, depending on the lifting capability required.

The bridge span and runway length may also be adjusted to accommodate the workstation. Bridge cranes can handle larger weights than other overhead crane types, such as jib cranes and monorail cranes, making them suitable for heavy-duty manufacturing, shipbuilding, power generation, and steel mills. Along with this, the bridge cranes offer a longer horizontal reach, which is critical for operations requiring material transportation across broad areas such as warehouses, storage yards, or assembly lines.

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Based on business, the overhead crane market is categorized into Original Equipment Manufacturer (OEM) and aftermarket. The Original Equipment Manufacturer (OEM) segment accounted over 61.7% of the market share in 2023. OEMs develop, produce, and sell complete overhead crane systems. Customers benefit from the ease and simplicity of this one-stop-shop strategy. They may be assured in the connectivity of different crane components and obtain a guarantee covering the complete system.

OEMs have the engineering competence to create cranes that fulfill unique client needs. They may tailor characteristics, such as lifting capability, span length, and hook height, to fit a specific purpose. This level of customization is not widely offered in other categories. Established OEMs produce high-quality, dependable overhead cranes. Their brand familiarity ensures that buyers receive a reputable product with a long track record. This dependability is essential for firms that rely on cranes for key operations.

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North America is the fastest-growing region in the global overhead crane market, with a major share of around 39.6% in 2023. North American businesses are open to implementing new technology into their overhead cranes, such as automation and remote-control systems, to boost efficiency and safety. Along with this, government expenditures in infrastructure projects such as bridges, highways, and power plants throughout North America will increase demand for heavy lifting equipment such as overhead cranes. The sustained importance of North America's industrial sector, along with the expanding trend of automation, will create a demand for effective material handling solutions, which overhead cranes can deliver.

The U.S. overhead crane market is expected to experience modest but steady growth in the coming years. The growth is mostly driven by ongoing infrastructure development projects around the country, a focus on efficiency and safety in many businesses, and the increased acceptance of automation and technical developments in crane functionality. In addition, prominent local and foreign OEMs have cemented their presence in the U.S. overhead crane industry. The integration of automation and smart technology is gaining pace, with features, such as remote control and data-driven maintenance, gaining popularity across the U.S.

The Asia Pacific region is seeing rapid industrial growth, notably in China, India, and Southeast Asia. This rise in numerous industries including automotive, manufacturing, and construction increases the demand for overhead cranes for effective material handling. Many APAC countries are making significant investments in infrastructure projects such as roads, bridges, and power plants. These projects need massive lifting equipment, resulting in a huge demand for high-capacity overhead cranes. Furthermore, the regional e-commerce and logistics industries are expanding rapidly. This mandates the development of several warehouses and distribution facilities, all of which rely largely on overhead cranes to store and retrieve items efficiently.

European countries including France, Germany, the UK, and the Netherlands are witnessing significant growth in the overhead crane market. European firms are increasingly relying on automation and Industry 4.0 technology to improve manufacturing operations. This involves using automated overhead cranes to increase efficiency and production. Europe has implemented some of the world's most stringent safety requirements for overhead cranes. This creates a demand for modern cranes with features, such as collision avoidance and overload safety, resulting in growth in the higher-end category.

Moreover, in Middle Eastern & African (MEA) countries, such as the UAE and Saudi Arabia, government initiatives are fueling investments in infrastructure projects including roads, bridges, and power plants. These projects require heavy lifting equipment, propelling the demand for overhead cranes.

Overhead Crane Market Share

Konecranes provides tailored solutions and integrated packages that incorporate overhead cranes with complementary offerings such as lifting accessories, controls, software, and post-sales assistance. This comprehensive approach ensures complete material handling solutions suitable for a variety of needs and industries.

Terex Corporation stays at the forefront of the overhead crane industry through ongoing R&D investment, partnerships with technology experts, and the integration of cutting-edge features, such as automation, IoT connectivity, and digitalization, into its crane offerings.

Overhead Crane Market Companies

Major companies operating in the overhead crane industry are

• Columbus McKinnon Corporation
• Sumitomo Heavy Industries Material Handling Systems Co.Ltd
• Ralf Teichmann GmbH
• Gorbel Cranes
• Konecranes
• ABUS Kransysteme GmbH
• Kito Corp
• GH Cranes & Components
• Weihua Group
• EMH, Inc
• Terex Corporation
• Cargotec Corporation
• Liebherr Group
• ZPMC
• Demag Cranes & Components GmbH
• ABUS Kransysteme GmbH
• STAHL CraneSystems

Overhead Crane Industry News

• In February 2024, Morris Material Handling SA (Pty) Ltd, through its service division Crane Aid, erected and commissioned a pair of double-girder bridge overhead cranes for a business operating primarily in South Africa that supplies high-quality iron ore to the steel industry. The cranes will be used to assist in the maintenance of heavy mining vehicles.
• In November 2023, Konecranes was awarded a contract to upgrade the reactor hall overhead crane at Sweden's Oskarshamn Nuclear Power Plant. This upgrade was crucial for servicing the reactor and managing the removal of spent fuel casks while adhering to strict regulatory standards. The contract involved engineering, manufacturing, delivery, and installation of modernization components including a new 165-ton trolley/hoist, over a two-year timeline.

The overhead crane market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments

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Market, By Cranes

• Gantry crane
• Jib crane
• Bridge crane
• Others

Market, By Lifting Capacity

• Light duty (up to 5 tons)
• Medium duty (5-10 tons)
• Heavy duty (more than 10 tons)

Market, By Business

• Original Equipment Manufacturer (OEM)
• Aftermarket

Market, By Industry

• Automotive
• Metal & mining
• Manufacturing
• Aerospace
• Utilities
• Shipyards
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA