The global gantry crane market is forecast to surpass a valuation of US$ 3 billion by 2031, expanding at a CAGR of approximately 6% over the next ten years. Growth is majorly underpinned by extensive uptake across the construction industry, amid the ever-expanding scope of public and private infrastructure development. Demand for truss gantry cranes and also demand for gantry cranes from the automotive sector is expected to rise.
As per a new report by Fact.MR, demand for portable gantry cranes is expected to surpass that of manual ones, amid growing need for ensuring flexibility in operations. The report tracks global sales of gantry cranes in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the industrial goods domain in general, and gantry crane demand in particular. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change.
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Rising urbanization and expansion of manufacturing and construction industries will fuel the gantry crane demand. However, with construction activities coming to an abrupt halt amid COVID-19 pandemic, growth exhibited by the market might decline.
Implementation of social distancing protocols has led to closure of various construction companies, causing limited gantry cranes market demand. Nonetheless, with relaxation in lockdown, business operations are gradually recovering, in turn paving way for the market to rebound to its pre pandemic growth rate.
Globalization has led to the construction of advanced ports and modernization of other maritime infrastructure. This is leading to increase in demand of gantry cranes in marine applications.
Technological advancements and automation in the gantry crane models led to creation of lighter and more energy efficient cranes. These factors are expected to positively influence global gantry crane market during the forecast period.
“Increasing efforts towards minimizing construction and marine material transport time and focus on introducing lifting solution as per client’s requirement will boost gantry crane market,” said a lead analyst at Fact.MR.
Key Takeaways
- The U.S. is expected to dominate the gantry crane market owing to surge in construction sector and increasing private investment in advanced construction equipment development.
- 100% foreign direct investment under the automated construction equipment wing and increasing government investment towards school and hospital construction will drive the market growth in India.
- China is the largest gantry crane manufacturer in the world. With expansion of shipping infrastructure, impressive growth is on cards the market.
- Global volume of construction output is expected to exponentially rise by the end of 2030. Such figures will promote investment in construction industry, fueling the gantry crane demand.
- Development of small and portable gantry crane, ideal for lifting small concrete blocks, steel girders, and lumber will open new avenues for growth.
Prominent Drivers
- Incorporation of gantry crane in construction of residential and non-residential buildings along with increasing sea trading will positively influence the market.
- Adoption of new lightweight, compact aluminum gantry cranes for construction in cramped space will boost demand.
- Increasing automation in gantry crane and introduction of various new safety and mobility related features will propel the market growth.
Key Restraints
- Limited lifting capacity of gantry cranes regarding safe operation is restraining the market growth.
- Lack of skilled operator and fluctuation in loading material weight are further restricting the demand sales opportunities.
- High investment cost of heavy lifting gantry crane used in marine application will hamper the market demand.
Competitive Landscape
Leading players operating in gantry crane market profiled by Fact.MR are JASO Industrial Cranes, Aicrane Machinery Group, Doosan Heavy Industries Vietnam Co., Shanghai Zhenhua Heavy Industries Co. Ltd., Mi-Jack Products, TNT Crane & Rigging, Liebherr Group, SANY GROUP, Konecranes Plc., Mammoet Holding B.V
Rise in strategic merger and acquisition is observed followed by new product launches. Market players are also focusing on strengthening their supply chain by forming long term alliance with regional and global distribution partners while simultaneously establishing new networks.
- JASO Industrial Cranes allied with ArcelorMittal France in May 2021, to design and develop a modern scrap loading crane for their plant in Dunkerque. The crane would have a maximum load capacity of 300 tons and a span of 24.4 meters.
- Allison Crane & Rigging merged with TNT Crane & Rigging in July 2018, allowing both companies to expand their customer base and penetrate new markets and attract customers in emerging market regions.
More Valuable Insights into Gantry Crane Market
Fact.MR, in its new report, offers an unbiased analysis of the global gantry crane market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in gantry crane market on the basis of type (full gantry cranes, semi gantry cranes, truss gantry cranes, portable gantry cranes, high-tech aluminum gantry cranes, rubber tired gantry cranes, turnkey self-erecting portable overhead cranes), operation (manual gantry cranes, automatic gantry cranes), lifting capacity (less than 30 ton gantry cranes, 30 – 50 ton gantry cranes, more than 50 ton gantry cranes), and end use (gantry cranes for automotive, gantry cranes for metal & mining, gantry cranes for construction, gantry cranes for paper & pulp, gantry cranes for aerospace, gantry cranes for utility, and gantry cranes for shipyards) across regions (North America, South America, Europe, Asia Pacific, Middle East & Africa).
Key Questions Covered in the Report
- Which factor will be the most crucial for gantry crane market growth?
- What is likely to be the future outlook of gantry crane market?
- What are the key drivers and restraints for gantry crane market?
- Which region has the highest growth rate in gantry crane market?
- Who are the leading players operating in gantry crane market?