Europe Electric Overhead Training (EOT) Cranes Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe Electric Overhead Training (EOT) Cranes Market size is expected to reach US$ 645.22 million by 2031 from US$ 444.21 million in 2023. The market is estimated to record a CAGR of 4.8% from 2023 to 2031.

Executive Summary and Europe Electric Overhead Training (EOT) Cranes Market Analysis:

The Europe electric overhead traveling cranes market is growing with rapid pace due to increased demand for constructing residential and commercial properties and a surge in the construction activities of bridges, roadways, and highways. Per the data provided by the Germany Trade and Invest (GTAI), Germany was the largest construction market, recording a revenue of US$ 175 billion in 2020. In addition, the government's initiatives to increase residential construction boost the demand for electric overhead traveling cranes in Germany. In 2024, the government set a goal to build 400,000 apartments a year. In addition to residential construction, investments in infrastructure development bolster the growth of the electric overhead traveling cranes market.

Europe is the prominent market for electric overhead traveling cranes owing to its infrastructure development in the construction, oil and gas, manufacturing, and petrochemical industries. The UK, Ireland, Germany, France, and Italy are a few noteworthy markets for electric overhead traveling cranes. The commercial and industrial sectors have shown a positive outlook due to the growing government intervention. The oil and gas industry has also experienced changes in the overall scenario as the countries focused on reducing dependency on Russia and emphasizing domestic production and renewable energy. The growing infrastructure development in the oil and gas industry in terms of power plants, oil refineries, and gas stations is driving the electric overhead traveling cranes market in Europe.

In 2024, the Prague government announced an investment of US$ 3 billion to develop new metro and train stations and reconstruct bridges and city squares. In addition, the Prague government is planning to work on approximately 14 projects starting in 2023, which will include the reconstruction and redevelopment of bridges, commercial buildings, and stations. In addition, the European Investment Bank and the Czech Republic government signed an agreement for a US$ 590 million loan to expand and upgrade railway projects. The increase in government initiatives toward infrastructure development is positively impacting the electric overhead traveling cranes market in Europe.

The presence of well-established automotive players such as Volvo, Volkswagen, Kia, Toyota, BMW, Audi, Mercedes, Skoda, Renault, and Nissan contribute to the growth of the automotive sector in Europe, which fuels the growth of the electric overhead traveling cranes market in Europe.

The growing energy demand and government initiatives toward natural gas production facilities positively impact construction activities. The surging development in the oil and gas sector boosts the need for electric overhead traveling cranes in different countries across Europe. In 2023, Germany and Italy started a hydrogen pipeline construction project. The countries signed an agreement to establish a pipeline that would enable the transportation of gas and hydrogen between them. Thus, the increasing number of oil and gas transmission pipeline projects and rising investments in the development of oil and gas infrastructure boost the demand for electric overhead traveling cranes in the region.

The growing focus on the mineral exploration sector drives the demand for electric overhead traveling cranes. For instance, in 2023, Altamin, a European metals producer, applied for new exploration licenses at the Villar Graphite Project and Lazio Lithium Project in the Piedmont and Lazio of Italy. The development of smart utility services and infrastructure, such as water and wastewater management facilities, propels the growth of the electric overhead traveling cranes market in Europe.

Europe Electric Overhead Training (EOT) Cranes Market Strategic Insights

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Europe Electric Overhead Training (EOT) Cranes Market Segmentation Analysis

Key segments that contributed to the derivation of the electric overhead training (EOT) cranes market analysis are type, bridge crane, and application.

• By type, the electric overhead training (EOT) cranes market is segmented into bridge cranes, gantry crane, jib crane, and others. The bridge cranes held the largest share of the market in 2023.
• In terms of bridge crane, the electric overhead training (EOT) cranes market is bifurcated into single girder crane and double girder crane. The single girder crane segment held a larger share of the market in 2023.
• Based on application, the electric overhead training (EOT) cranes market is categorized into construction, mining and metals, chemical, shipping industry, automotive and transportation, oil and gas, general manufacturing, and others. The general manufacturing segment held the largest share of the market in 2023.

Europe Electric Overhead Training (EOT) Cranes Market Outlook

The demand for energy is skyrocketing across the world with population growth. For instance, according to the Gas Exporting Countries Forum's Global Gas Outlook 2050, demand for natural gas is expected to increase globally by 34%, from 4,015 billion cubic meters in 2022 to 5,360 billion cubic meters in 2050. Natural gas has a potential application in electricity generation, in addition to several other industries. Moreover, due to the increasing energy uncertainties in Europe owing to the Russia–Ukraine war, governments are encouraging the utilization of natural gas. For instance, the governments of France and Germany announced their plans to initiate a 100-km hydrogen pipeline project in 2024. As a part of this project, GRTGaz, a prime gas supplier in France, is set to authorize the installation of a hydrogen pipeline linking France and Germany, marking a substantial step toward the decarbonization of heavy industries in both countries. In addition, in 2023, the governments of Germany and Italy joined forces to form a projected gas pipeline. The proposed pipeline is a 3,300 km project and is anticipated to incorporate four European transmission system operators, including Trans Austria Gasleitung, Snam, Bayernets, and Gas Connect Austria in Germany.

Countries such as the US, China, India, Vietnam, and South Korea are showcasing massive demand for crude oil owing to continuous developments in their manufacturing sectors, supported by favorable financial landscape and government policies as well as a surge in investments in the oil & gas sector.

An increase in onshore oil & gas exploration activities further bolsters the development of oil and industry infrastructure. For instance:

• In December 2022, Eni, Chevron, Shell, TotalEnergies, and other leading oil & gas companies announced their plan to invest more than US$ 58 billion in the oil & gas sector to meet the growing demand for oil in the UK.
• In 2023, the Norwegian government approved the development of 19 offshore fields for oil and gas with investments exceeding US$18.5 billion.

Electric overhead traveling cranes are used in the construction activities of oil & gas plants. Thus, the growing number of oil & gas projects and plants are fueling the growth of the electric overhead traveling cranes market across the region.

Europe Electric Overhead Training (EOT) Cranes Market Country Insights

Based on country, the Europe electric overhead training (EOT) cranes market comprises Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany held the largest share in 2023.

The construction sector experienced steady growth in Germany in the past few years. The rise in population, demographic changes, and a positive economic outlook are the major factors driving the demand for commercial and residential buildings. In 2024, the government announced its plan to initiate a few of the major transportation infrastructure projects. A few of these projects are the Stuttgart 21 Railway Project, The Frankfurt Airport Terminal 3, Fehmarnbelt Fixed Link, and Energy Transition and Green Infrastructure, among others. The Stuttgart 21 Railway Project and The Frankfurt Airport Terminal 3 are expected to cost ~US$ 12 billion and US$ 4 billion, respectively. With the increased spending on the development of the infrastructure by the government, the demand for electric overhead traveling cranes is also growing. Thus, the growing development in the infrastructure and construction sector in Germany is a major contributor to the electric overhead traveling cranes market growth in the country.

The increasing focus on oil and gas infrastructure development boosts the construction activity in Germany, positively impacting the demand for electric overhead traveling cranes in the country. In 2023, the governments of Germany and Italy joined forces to form a projected gas pipeline. The proposed pipeline is a 3,300 km project and is anticipated to incorporate four European transmission system operators: Trans Austria Gasleitung, Snam, Bayernets, and Gas Connect Austria in Germany. In 2023, the German Federal government initiated a new hydrogen pipeline project between Spain, Portugal, and France. The pipeline is under the Mediterranean Sea and is anticipated to carry green hydrogen. In addition, in 2024, ABL completed Germany's Ostsee Anbindungsleitung subsea pipeline installation project. The pipeline primarily links the planned LNG terminal in the port of Mukran with the German pipeline network in Lubmin. In the future, the pipeline is anticipated to be utilized to supply green hydrogen to the German grid through Mukran. Thus, the development of new pipelines and maintenance of the existing gas network boost the oil and gas infrastructure in Germany, which fuels the demand for electric overhead traveling cranes.

Germany, one of the leading markets in the European automotive sector, has demonstrated a noteworthy shift toward EV production and sales. BEVs secured ~75% of the German EV market in 2023; PHEVs accounted for ~25%; this is a huge shift from 2022 when BEVs accounted for ~56% and PHEVs secured ~44%. This trend is associated with the global growth in the manufacturing and use of EVs. Thus, the development in the automotive sector is fueling the number of manufacturing plants across different parts of Germany, boosting the application of electric overhead traveling cranes in the country.

The rising focus on developing smart facilities to cater to the growing demand of the urban population propels the application of electric overhead traveling cranes in Germany. For instance, in 2024, H+E Group secured a contract to build an ultrapure water (UPW) plant in Germany. In 2023, Germany and the Netherlands initiated a joint venture for modern water facilities and utility developments to meet the growing need for smart cities.

Europe Electric Overhead Training (EOT) Cranes Market Report Highlights

Europe Electric Overhead Training (EOT) Cranes Market Company Profiles

Some of the key players operating in the market include Dafang Heavy Machine Co., Ltd.; Sumitomo Corp; Spanco, Inc.; ABUS Kransysteme GmbH; Columbus McKinnon Corporation; Konecranes Plc; WHCRANE; VERLINDE SA; Gorbel Inc; American Equipment; Safex Industries Limited; Uesco Cranes; Harrington Hoists, Inc.; K2 Cranes & Components Pvt. Ltd.; and TAWI AB., among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Europe Electric Overhead Training (EOT) Cranes Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Europe Electric Overhead Training (EOT) Cranes Market Country and Regional Insights