North America Automated Overhead Crane Market
North America comprises developed economies, including the US, Canada, and Mexico. This region's significant share is mainly due to a high level of customer awareness and greater acceptance of innovative technologies in this region. The automated overhead cranes are increasingly used in high-risk environments, including manufacturing unit, metal and steel, shipbuilding, and construction industry. Increased government support through subsidies, positive economic outlook, and a large production base, are driving the sales of high-capacity automated overhead cranes for lifting heavy items. The market players in this region are continuously developing overall business processes to meet end users’ demands for high-quality products. The US has a robust port infrastructure, which can be mainly due to its dependence on imported goods as well as the great extent of outsourcing manufacturing and production activities to Asian economies. Further, North America is a home for oil and natural gas production. North America is highly inclined to keep its marine transportation system functioning in safe and efficient ways. Thus, it is focused on obtaining data about the depth of water, shape of the seafloor and coastline, and other physical features of water bodies. To collect this data, the adoption of automated overhead cranes is increasing. Therefore, several marine activities such as international trading, oil and gas extraction activities, and many other activities are boosting the demand for overhead cranes in North America.
In case of COVID-19, North America is highly affected specially the US. Due to various restrictions and limitations, construction, manufacturing, and metal & mining industries showed declined production. All these affected the related trading activities, leading to an economic slowdown. Moreover, owing to the imposition of strict containment measures, operations were permitted with limited number of employees only. This hampered the production activities in the US. Overhead cranes are essentially required at several job sites. These cranes help in moving heavy loads from one place to another, increasing the floor space, efficiency, and safety. Owing to restriction of trade operations, the region has experienced significant decline in the adoption of automated overhead cranes from demand side in 2020. The ship building industry in Canada suffered adversely due to this pandemic. Ship hulls are massive and are shaped irregularly. Moving and shifting heavy tools, equipment, components, and parts around the inside of a slanted hull can be difficult without the help of an overhead crane. A wide spanning heavy gantry cranes are required essentially for building ship hulls. However, gantry cranes were among the cranes that observed significant reduction in their sales. Moreover, as economies reopen and trade restriction get relaxed, the automated overhead crane market is expected to witness a steady growth in North America.
Strategic insights for the North America Automated Overhead Crane provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 456.56 Million |
| Market Size by 2028 | US$ 690.78 Million |
| Global CAGR (2021 - 2028) | 6.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Automated Overhead Crane refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America automated overhead crane market is expected to grow from US$ 456.56 million in 2021 to US$ 690.78 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The rising demand for omnichannel distribution and supply chain strategy by the retail stores to fulfil the demand of their customers at anytime from anywhere is boosting the number of warehouses and distribution centers. The constant growth in e-commerce, 3PL, fast moving consumer goods (FMCG), fast moving consumer durable (FMCD), retail, and manufacturing industries is supporting the rising number of organized warehousing spaces in the countries. The e-commerce and 3PL market players are the biggest adopters of organized warehousing spaces. For instance, the constant growth in the e-commerce industry is boosting the development in the number of warehouses and distribution centers across the region. The e-retailers are now more strongly looking forward in opening warehouses in tier I and tier II cities. Thus, the demand for automated overhead cranes across warehouse and distribution centers for lifting heavy equipment and material handling will increase. The warehouse crane usually consists of single girder overhead crane, double girder overhead crane, and electric hoist gantry crane for lifting purpose. Majority of the warehouses and distribution centers use automated overhead cranes with the lifting capacity of 1 ton, 3-ton, 5 ton, and 10 ton up to 100 ton. Therefore, the commodities or material substances can be lifted and transferred to other places easily. So, rising demand of warehouses and distribution centers are expected to increase the demand of crane, thereby driving the North America automated overhead crane market.
In terms of type, the gantry cranes segment accounted for the largest share of the North America automated overhead crane market in 2020. In terms of level of automation, the semi-automated segment held a larger market share of North America automated overhead crane market in 2020. Further, the manufacturing segment held a larger share of the North America automated overhead crane market based on industry in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America automated overhead crane market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Acculift; DONGQI GROUP; EMH, Inc; EntsorgaFin S.p.A.; Konecranes Oyj; Kundel Industries Inc.; Sumitomo Heavy Industries Material Handling Systems Co., Ltd.; and Weihua Group.
The North America Automated Overhead Crane Market is valued at US$ 456.56 Million in 2021, it is projected to reach US$ 690.78 Million by 2028.
As per our report North America Automated Overhead Crane Market, the market size is valued at US$ 456.56 Million in 2021, projecting it to reach US$ 690.78 Million by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The North America Automated Overhead Crane 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 North America Automated Overhead Crane Market report:
The North America Automated Overhead Crane Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Automated Overhead Crane Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Automated Overhead Crane Market value chain can benefit from the information contained in a comprehensive market report.
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