Report : Europe Overhead Cranes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Gantry Crane, Bridge Crane, Jib Crane, Monorail Crane, and Others), Installation (Mobile Crane and Fixed Crane), Operation Type (Electric, Hydraulic, and Hybrid), and Verticals (Logistics, Automotive, Marine, and Others)
At 6.2% CAGR, the Europe Overhead Cranes Market is speculated to be worth US$ 1,792.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe overhead cranes market was valued at US$ 1,250.49 million in 2022 and is expected to reach US$ 1,792.89 million by 2028, registering an annual growth rate of 6.2% from 2022 to 2028. Growing need for workplace safety in industrial applications and technological advancements in overhead crane are the critical factors attributed to the Europe overhead cranes market expansion.
In chemical, power, and construction industries, some processes involve constant exposure to toxic chemicals, heated material, and heavy loads. If these tasks can be handled manually, they can pose a risk to workers’ life. Lifting heavy loads with inappropriate handling can create risks for a worker handling it or in a nearby space. Therefore, industries are adopting several advanced equipment, machinery, and technologies to minimize human intervention and maximize productivity for workplace safety and health measures. Overhead cranes are specialized equipment designed to lift and transfer bulky, heavy loads, toxic chemicals, and heated material in industrial spaces. Automated processes with the help of overhead cranes provide safety to the industries' workforce and improve the quality and production process. Thus, increasing workplace safety in industrial applications fuels the Europe overhead cranes market growth.
On the contrary, fluctuations in prices of steel hurdles the growth of Europe overhead cranes market.
Based on type, the market is segmented into bridge crane, gantry crane, monorail crane, jib crane, and others. The gantry crane segment held 35.8% market share in 2022, amassing US$ 447.18 million. It is projected to garner US$ 709.25 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on installation, the Europe overhead cranes market is bifurcated into mobile crane and fixed crane. The mobile crane segment held 69.1% market share in 2022, amassing US$ 864.63 million. It is projected to garner US$ 1,264.53 million by 2028 to expand at 6.5% CAGR during 2022–2028
Based on operation type, the Europe overhead cranes market is segmented into hydraulic, electric, and hybrid. The electric segment held 73.3% market share in 2022, amassing US$ 916.37 million. It is projected to garner US$ 1,336.08 million by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on verticals, the Europe overhead cranes market is segmented into automotive, logistics, utilities, marine, and others. The logistics segment held 44.6% market share in 2022, amassing US$ 557.82 million. It is projected to garner US$ 848.38 million by 2028 to expand at 7.2% CAGR during 2022–2028.
Based on country, the Europe overhead cranes market is segmented into France, Germany, UK, Italy, Russia, and Rest of Europe. Our regional analysis states that Germany captured 25.6% market share in 2022. It was assessed at US$ 320.37 million in 2022 and is likely to hit US$ 526.84 million by 2028, exhibiting a CAGR of 8.6% during the forecast period.
Key players dominating the Europe overhead cranes market are ABUS Kransysteme GmbH, Cargotec Corp, Demag Cranes & Components GmbH, Gorbel Inc, Konecranes Plc, Liebherr-International Deutschland GmbH, and Sumitomo Heavy Industries Ltd among others.
- In 2022, The Demag DRS range has gained a reputation as a reliable wheel block system – not only in cranes but also in several applications. Demag launched new generation DRS-M wheel block. Among other benefits, the new wheel blocks feature a rugged, modular design and versatile connection possibilities on five sides. Also new is the optional mechanical wear measurement of the wheel.
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