Growing Need for Workplace Safety in Industrial Applications in South America Overhead Cranes Market
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 South America overhead cranes market growth.
South America Overhead Cranes Market Overview
The South America (SAM) overhead cranes market, based on country, is segmented into Brazil, Argentina, and the rest of South America. The rising government initiatives across countries such as Brazil and Argentina to gain foreign investment in their manufacturing sector. Rising investments in establishing new production facilities across South America are expected to propel the demand for overhead cranes from various industries, including automotive, manufacturing, and consumer electronics, in Brazil and Argentina during the forecast period.
Over the years, the warehousing industry in South America has experienced significant growth owing to the presence of local and international warehousing and logistics companies. The increase in investment by international logistics and warehousing brands in the region is further influencing the demand for overhead cranes from the industry for applications such as transportation and storage in the facility. In December 2022, A.P. Moller – Maersk announced the launch of its new warehouse in Brazil. All these factors are expected to contribute to the South America overhead cranes market growth during the forecast period.
South America Overhead cranes market Segmentation
The South America overhead cranes market is segmented on the basis of type, installation, operation type, end-user industry, and country. Based on type, the market is segmented into bridge crane, gantry crane, monorail crane, jib crane, and others. The gantry crane segment registered the largest market share in 2022.
Based on installation, the South America market is bifurcated into mobile crane and fixed crane. The fixed crane segment registered a larger market share in 2022.
Based on operation type, the South America overhead cranes market is segmented into hydraulic, electric, and hybrid. The electric segment registered the largest market share in 2022.
Based on verticals, the South America overhead cranes market is segmented into automotive, logistics, utilities, marine, and others. The logistics segment registered the largest market share in 2022.
Based on country, the South America overhead cranes market is segmented into Brazil, Argentina, and the Rest of South America. Brazil dominated the market share in 2022.
ABUS Kransysteme GmbH, Cargotec Corp, Demag Cranes & Components GmbH, Gorbel Inc, Konecranes Plc, Liebherr-International Deutschland GmbH, and Sumitomo Heavy Industries Ltd are the leading companies operating in the South America overhead cranes market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 211.89 Million |
| Market Size by 2028 | US$ 273.84 Million |
| CAGR (2022 - 2028) | 4.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Overhead Cranes Market is valued at US$ 211.89 Million in 2022, it is projected to reach US$ 273.84 Million by 2028.
As per our report South America Overhead Cranes Market, the market size is valued at US$ 211.89 Million in 2022, projecting it to reach US$ 273.84 Million by 2028. This translates to a CAGR of approximately 4.4% during the forecast period.
The South America Overhead Cranes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Overhead Cranes Market report:
The South America Overhead Cranes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Overhead Cranes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Overhead Cranes Market value chain can benefit from the information contained in a comprehensive market report.
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