Global Overhead Cranes and Components Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Overhead Cranes and Components Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Overhead cranes, which is widely used and has the largest number of hoisting machinery, is a lifting equipment for lifting materials across workshops, warehouses and stockyards. Its two ends are located on tall concrete columns or metal supports, and its shape is like a bridge. The bridge frame of overhead cranes runs longitudinally along the tracks laid on elevated sides, which can make full use of the space below the bridge frame to lift materials without being hindered by ground equipment. This report studies the global overhead cranes and components market, including overhead cranes, wire rope hoists (crane components), open winches, chain hoists and explosion proof hoists.

Market Overview:

The latest research study on the global Overhead Cranes and Components market finds that the global Overhead Cranes and Components market reached a value of USD 11409.76 million in 2022. It’s expected that the market will achieve USD 15076.94 million by 2028, exhibiting a CAGR of 4.75% during the forecast period.

The most important material used to make cranes is steel. Steel is an alloy of iron and a small amount of carbon. For structures that do not require high strength, a steel called carbon steel is usually used. By definition, besides iron and carbon, the element content of carbon steel is less than 2%. There are many forms of carbon steel. The most important factor that determines the properties of carbon steel is the carbon content, ranging from less than 0.015% to more than 0.5%.

For structures requiring high strength, especially cranes designed to lift very heavy objects, various substances called high strength low alloy (HSLA) steels are used. The carbon content of HSLA steel is relatively low, usually about 0.05%. They also contain small amounts of one or more other elements that increase strength. These elements include chromium, nickel, molybdenum, vanadium, titanium and niobium. In addition to high strength, HSLA steel is resistant to atmospheric corrosion and is more suitable for welding than carbon steel. According to the exact design of the crane, various other materials can be used in the manufacture. Some structural components can be made of various metals, such as bronze and aluminum. Other materials that can be used include high strength plastics.

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, especially labor-intensive industries, affected by the supply of raw materials and labor shortages.

For the Overhead Cranes and Components industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some small factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas.

But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Strength

Advantages of Overhead Cranes
Overhead Cranes can improve production efficiency
Overhead Cranes are more efficient than using a group of workers or traction motors to lift and move materials, and the working speed can be increased by 2-3 times. Manufacturers, factories or warehouses introduce Overhead Cranes to automate the lifting, handling and unloading of materials in their factories, thus simplifying their processes and procedures. Overhead Cranes can improve production efficiency, which will promote the growth of Overhead Cranes demand.
Security of Overhead Cranes
Another advantage of installing Overhead Cranes in manufacturing, assembly or storage facilities. Overhead Cranes can be used to lift and move materials in extreme environments, and can handle corrosive or dangerous materials, such as molten iron, chemicals and heavy objects. Workstations or cantilever cranes can be placed to help workers move heavy objects in a controlled manner and reduce repeated sports injuries and muscle strain. Overhead Cranes ensure the safety of workers' work and reduce the extra expenses of enterprises. Security of overhead cranes will promote the growth of Overhead Cranes demand.

Weakness

Government agencies, construction industry agencies, engineers' committees, occupational safety and health departments and other agencies have formulated laws and regulations, setting legal requirements to ensure the safety and health not only of workers, but also of the public. E.g. BEM Guideline No. 001 – “The Role and Responsibility of Professional Engineers for Temporary Works during Construction Stage” and CIDB’s Construction Industry Standard (CIS) “CIS25: 2018 Construction Activities Risk Assessment – Hazard Identification, Risk Assessment and Risk Control (CARA-HIRARC)” and “CIS 15:2019 Guideline on prevention of fall at construction site”.
The continuous updating of relevant laws and regulations will strengthen the enterprise's emphasis on the safety of work and related personnel, thus improving the requirements for equipment safety in the production process, and posing certain challenges to the manufacturers in the Overhead Cranes industry.

Region Overview:

Geographically, Asia Pacific held the largest market share – 42.58% in 2022.

Company Overview:

Konecranes is one of the major players operating in the Overhead Cranes and Components market, holding a share of 6.35% in 2023.

Konecranes

Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. Konecranes Service offers specialized maintenance services and spare parts for all types and makes of industrial cranes and hoists.

Demag Cranes

Demag is one of the world’s leading brands for powerful industrial cranes, crane components and innovative industrial drive solutions. Demag is represented worldwide by subsidiaries and local partners with many years of experience.

Segmentation Overview:

Among different product types, Chain Hoists segment is anticipated to contribute the largest market share in 2028.

Wire Rope Hoists (Crane Components)

Wire rope hoists use wire rope as the lifting medium and perform the lift by wrapping the wire rope cable around a grooved drum.

Open Winches

Open Winches are designed to operate in tough, arduous conditions with high frequency operations.

Chain Hoists

Chain hoists use metal chain as the lifting medium and perform the lift by pulling the chain through sprockets and then deposit it into a container.

Explosion Proof Hoists

Explosion Proof Hoists are used in hazardous or confidential manufacturing and processing environments.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Overhead Cranes and Components market covered in Chapter 3:

Hzpto
MUNCK Cranes
Çakmak Vinç
Condra
GIS AG
Misia Paranchi S.R.L.
BALCANCARPODEM
SWF Krantechnik
Novocranes
ORIT Group
Demag Cranes
STAHL CraneSystems
Eurocrane
Henan Mine
OMIS
Street Crane
ABUS Kransysteme GmbH
GH Cranes & Components
Eilbeck Cranes
Güralp Vinç
LIFTKET
Columbus McKinnon
BVC Cranes
KITO (Harrington Hoists)
Podemcrane
Konecranes
Verlinde

In Chapter 4 and Chapter 14.2, on the basis of types, the Overhead Cranes and Components market from 2018 to 2029 is primarily split into:

Wire Rope Hoists (Crane Components)
Open Winches
Chain Hoists
Explosion Proof Hoists

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Overhead Cranes and Components market from 2018 to 2029 covers:

Automotive
Aeronautic
Steel Mills and Aluminum
Energy - Power (hydropower)
Paper Mills
Waste to Energy
Civil Works & Construction
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)