Global Gantry Crane Market Analysis & Trends - Industry Forecast to 2030

Global Gantry Crane Market Analysis & Trends - Industry Forecast to 2030

Gantry Crane: Market Size

From $5.56 billion in 2024, the global Gantry Crane market is projected to reach $9.27 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 8.9% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include rising investments for infrastructural development, adoption of new lightweight, compact aluminum gantry cranes for construction and emergence of new-age technologies.

Global Gantry Crane Market: Market Dynamics

Increase in usage of construction department both residential and non-residential buildings along with growing sea trading is one of the major drivers of the market. Moreover, increasing automation in gantry cranes and the introduction of various new safety and mobility-related features also, it is used for lifting extremely heavy objects and hence, is widely used in shipyards and ports. Construction activities are inclining exponentially, with governments spending massively on housing and non-housing projects, thus generating demand for gantry cranes.

On the other hand, the lack of skilled operators and fluctuation in loading material weight, and high investment cost are likely to obstruct the profit boundaries. In addition, the emergence of new-age technologies such as the internet of things and rising product application will further boost the Gantry Crane market.

Impact of COVID-19 on Gantry Crane

Execution of social distancing protocols has led to the closure of various construction companies, affecting restricted market demand. Nonetheless, with relaxation in lockdown, business operations are gradually recovering, in turn paving way for the market to rebound to its pre-pandemic growth rate. The coronavirus outbreak has weakened global demand conditions and made the demand environment uncertain, which has harmed order intake. Companies in the market are scrambling to stay productive during the COVID-19 outbreak and maintain business continuity for critical mission projects. Crane providers have cast their focus on stakeholders in the essential goods sector such as medical supplies and food. Physical restrictions at production facilities to limit the spread of novel coronavirus are impacting the revenue growth of the market. Businesses are witnessing low revenue recognition since major orders received from clients at shipyards and aerospace automotive companies have either been canceled or postponed. Thus, crane providers are focusing on enhanced payment collection and credit control to keep economies running during the ongoing COVID-19 era.

By End User

Construction Segment Dominate the Market in 2024

The Construction segment made huge revenue in 2024 and growing its prominence during the forecast period, due to the rapid development has headed to boost in numerous organization assignments, extending from residential buildings to immense municipal constructions such as highways and rail networks, offices, airports, and seaports. Therefore, the acceptance of advanced gantry cranes has increased manifold in current years.

By Geography

North America Region is Leading in the Global Market Place

North America region is likely to have a huge demand in the forecast period, due to its large number of residential and non-residential construction projects. Therefore, major companies are investing in advanced construction equipment, widening adoption of it to facilitate efficient operations. All of these data reflect a growing need for effective approaches for enhancing public and private infrastructure investment. As construction activity has increased, gantry cranes have become increasingly common, leading several regional and international manufacturers to grow their presence in the country.

List of the Key Players Profiled in the Market Include:

• AceCo
• Aicrane Machinery Group
• Demag
• Doosan Heavy Industries Vietnam Co.
• JASO Industrial Cranes
• Konecranes Oyj
• Liebherr
• Mammoet Holding B.V.
• Mi-Jack Products, Inc.
• Nantong COSCO Heavy Industry
• Sany Group
• Shanghai Zhenhua Heavy Industries Co., Ltd.
• Vestil
• TNT Crane & Rigging

List of the Regions/Countries Profiled in the Market Include:

North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others