Market Overview

of Global Overhead Cranes and Components market:
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.

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.

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.

The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Overhead Cranes and Components market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.

For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.

As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.

Research Scope
This report provides an overview of the global Overhead Cranes and Components market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Overhead Cranes and Components and its sub-markets in an intuitive way.

Key Companies in the global Overhead Cranes and Components market covered in Chapter 3:
Eurocrane
LIFTKET
Novocranes
Verlinde
Güralp Vinç
BVC Cranes
ORIT Group
STAHL CraneSystems
Misia Paranchi S.R.L.
Hzpto
Columbus McKinnon
Eilbeck Cranes
GIS AG
ABUS Kransysteme GmbH
Demag Cranes
OMIS
MUNCK Cranes
Çakmak Vinç
Konecranes
SWF Krantechnik
GH Cranes & Components
BALCANCARPODEM
KITO (Harrington Hoists)
Henan Mine
Podemcrane
Condra
Street Crane

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)

Key Factors Considered

COVID-19
Amid the COVID-19 crisis, the Overhead Cranes and Components market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.

Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.

Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.

Chapter Outline

Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.

Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.

Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.

Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.

Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.

Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.

Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.

Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.

Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.

Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.

Years considered for this report:

Historical Years:

2018-2022

Base Year:

2022

Estimated Year:

2023

Forecast Period:

2023-2029