Report : Europe Automated Overhead Crane Market Forecast to 2028 - COVID-19 Impact and Regional 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)
Semi-Automated Segment to Dominate Europe Automated Overhead Crane Market During 2021–2028
According to a new market research study on “Europe Automated Overhead Crane Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Level of Automation, and Industry” is expected to reach US$ 827.71 million by 2028 from US$ 515.08 million in 2021. The market is estimated to grow at a CAGR of 7.0% from 2021 to 2028. The report provides trends prevailing in the Europe automated overhead crane market along with the drivers and restraints pertaining to the market growth. Increasing development of automated shipbuilding cranes and rising automation in the manufacturing sector are the major factor driving the growth of the Europe automated overhead crane market. However, expensive installation and maintenance hinders the growth of Europe automated overhead crane market.
In case of COVID-19, Europe is highly affected specially France and Russia. The region witnessed notable decline in revenue from various industries as the government enacted various containment measures. Due to growing e-commerce activities, Europe had large scale import–export trade operations before the pandemic started. Managing a large warehouse demand shifting and storing of large and heavy crates throughout the warehouse safely and quickly. A network of overhead cranes helps warehouse employees to keep the inventory organized and accessible so their containers and crates can be found and accessed seamlessly whenever required. Since e-commerce activities were reduced to a drastic extent, the demand for various overhead cranes decreased considerably in Europe. Count of new businesses and start-ups that need equipment such as factory equipment, industrial HVACs, and other large machinery was very less. Repair shops use both gantry cranes and bridge cranes to unload products, shift them around the shop and reload them. As the operations were decreased intensely, the demand for gantry cranes and bridge cranes declined immensely across Europe. As the supply chain of several industries was disrupted, including automated overhead cranes, the automated overhead cranes market players experienced severe hardships in selling various types of cranes in 2020. Moreover, as major ports in Europe were experiencing low traffic of vessels, the automated overhead cranes market witnessed decline from demand side in 2020.
The Europe automated overhead crane market is segmented on the basis of type, level of automation, industry, and country. Based on type, the market is segmented into bridge cranes, gantry cranes, monorail cranes, jib cranes, and others. The gantry cranes segment dominated the Europe automated overhead crane market in 2020 and bridge cranes segment is expected to be fastest growing during forecast period. Based on level of automation, the market is segmented into semi-automated and fully automated. The semi-automated segment dominated the Europe automated overhead crane market in 2020 and fully automated segment is expected to be fastest growing during forecast period. Based on industry, the market is bifurcated into manufacturing, shipbuilding, metals and steel, and others. The manufacturing segment dominated the Europe automated overhead crane market in 2020 and others segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe.
DONGQI GROUP; EMH, Inc; EntsorgaFin S.p.A.; Hoist UK; Konecranes Oyj; Sumitomo Heavy Industries Material Handling Systems Co., Ltd.; and Weihua Group are among the leading companies in the Europe automated overhead crane market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, The EGM approved the merger of Konecranes into Cargotec Corporation in accordance with the merger plan signed by the Boards of Directors of Konecranes and Cargotec on 1st October 2020.