The gantry crane market is set for a rapid growth over the forecast period. In terms of revenue, the global Gantry Crane market accounted for USD 2,100 Million in 2022 and is expected to reach USD 3,600 Million by 2030, growing at a CAGR of 6.1%
A gantry crane is a type of overhead crane, that comes with a single-grinder or double-grinder arrangement driven by freestanding legs that move on wheels or along a rail-track system. Gantry cranes are commonly considered when there is a justification not to add an overhead runway system.
These are usually used for outdoor applications or for the current overhead bridge crane system. A gantry crane does not have to be connected into the support system of a building, unlike a bridge crane, thereby removing the need for fixed runway beams and columns of support. This can result in a substantial reduction in material costs in some situations and can be a more cost-effective option compared to a bridge crane that is similarly defined.
Larger gantry systems, ideally in a straight line in a dedicated work area, can operate on a rail or track incorporated in the ground. Smaller compact gantry systems operate on wheels or castors and can be relocated for repair or light fabrication work.
Increased processing time, production efficiency, and food product quality are factors that are likely to fuel the global demand for gantry cranes during the forecast period.
For both developed and developing nations, upgrading of infrastructure is essential. This development has an impact on residents and enterprises. Infrastructure building and upgrading are essential for economic development. Infrastructure investment helps to increase GDP, to ensure increased demand, cooperation, and competitiveness. The worldwide construction industry is likely to see the launch of numerous delayed infrastructure improvement projects, which are expected to drive the energy and construction industries in the coming years. Deteriorating infrastructures in developed countries and constructing new infrastructure in developing countries are likely to trigger high demand in the construction industry for gantry cranes.
Gantry cranes are used in shipyards and ports to move extremely heavy items and, thus, are commonly used. The shipbuilding industry is engaged in the manufacture of vessels for military, merchant fleet, and offshore. It is further related to other important industries, such as security, transportation, environment, and research, this plays a key role in regional and national industrial infrastructure and security interests. In the growth of this sector, numerous governments around the world are investing heavily. Thus, the growth of the shipbuilding/shipyard industry is expected to drive the growth of the gantry crane sector in the coming years.
In recent years, the demand for gantry cranes has seen a substantial rise in companies' spending on the research and development of gantry cranes. The main focus of the research is on improving the reliability and efficiency of operating/handling gantry cranes. Rising building and infrastructure design challenges have resulted in increased demand for cranes capable of providing better results. It is expected that the growing implementation of advanced technology in gantry cranes would minimize cycle time and increase productivity. Therefore, the effect of this driver is expected to be strong in the coming years on the gantry crane market.
The material handling equipment industry has already been penetrated by connected technology, and recent years have experienced the emergence of GPS-powered and IoT enabled cranes. Smart operation, higher fuel consumption, and lower ownership costs are main features that in recent decades have increased the efficiency of smart gantry cranes.
The Internet of Things has a significant impact on the gantry crane market, helping to minimize repair and maintenance costs by allowing the equipment to self-detect the requisite repair faults. The technology is moving towards data and software analytics, with a significant emphasis on reducing human interaction with computers.
The crane manufacturing companies are working to integrate IT with machine control circuits and use a two-way communication system to make sure that, in the event of any malfunction or emergency during operation, the operator receives warnings. Along with product sales, the manufacturers of gantry cranes would also need to educate and train end users. The simplified supply chain and the high penetration of regional markets are anticipated to be major factors driving business during the forecast era. Overall, the gantry crane market is expected to show an upward trend during the projected timeline.
The coronavirus outbreak disrupted global market conditions and made the demand outlook unpredictable, which had a negative effect on order intake. Companies in the gantry cranes industry are struggling to remain profitable throughout the COVID-19 outbreak and to retain business continuity for vital mission ventures. Crane suppliers have concentrated on stakeholders in the critical goods market, such as medical supplies and food items
Physical restrictions on production facilities to control the spread of novel coronavirus have an effect on the revenue growth of the gantry cranes industry. Businesses are experiencing low sales recognition, as large orders obtained from customers at shipyards and aerospace automotive firms have either been postponed or cancelled. In order to keep economies working throughout the ongoing COVID-19 period, crane operators are therefore concentrating on improved payment collection and credit monitoring.
The most common design is fully gantry crane systems, consisting of two legs that operate on rails that are mounted flat with the top surface of the floor. In a dedicated work area, they usually run in a straight line. This structure enables motorized equipment such as fork lifts, scissors, trucks, and carts to roll over and cross under the crane.
Adjustable/portable gantry cranes are lighter-duty and smaller gantry structures that operate on casters or rubber wheels. These wheels help the user to switch them in order to accommodate various materials or loads in the facility. In order to have greater space-saving and floor space flexibility, they can be transported or stored anywhere in a company or in different work cells when they are empty and not under load.
Gantry cranes are widely used in general industries for power generation plants, machine contractors, water treatment plants, metal processing plants, and HVAC applications. Gantry cranes are considered essential by industries demanding heavy-duty transport facilities.
By Geography, the gantry crane market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.
Asia Pacific is expected to have a large market share due to an increase in industrial and commercial activities in countries such as India, China, Australia, and Indonesia.
Europe is projected to see a substantial rise in the global demand for gantry cranes due to the increase in gradation, reconstruction and renovation of existing infrastructure and the industrial sector.
Middle East & Africa is anticipated to augment remarkable growth in the global gantry cranes market due to an increase in marine trade and economic growth across the country.
North America is one of the main emerging regions that will generate lucrative opportunities in the global gantry cranes market over the forecast period due to an increase in industrial production.
The major players in the global gantry crane market include Aicrane Machinery Group, JASO Industrial Cranes, Doosan Heavy Industries Vietnam Co., Mammoet Holding B.V., Mi-Jack Products, Inc., TNT Crane & Rigging, Konecranes Oyj, Shanghai Zhenhua Heavy Industries Co., Ltd., Liebherr, and Sany Group among others.
Global Gantry Crane Market: Type Segment Analysis
Global Gantry Crane Market: Operation Segment Analysis
Global Gantry Crane Market: Lifting Capacity Segment Analysis
Global Gantry Crane Market: End-User Segment Analysis
Global Gantry Crane Market: Regional Segment Analysis
For both developed and developing nations, upgrading of infrastructure is essential. This development has an impact on residents and enterprises. Infrastructure building and upgrading are essential for economic development. Infrastructure investment helps to increase GDP, to ensure increased demand, cooperation, and competitiveness. The worldwide construction industry is likely to see the launch of numerous delayed infrastructure improvement projects, which are expected to drive the energy and construction industries in the coming years. Deteriorating infrastructures in developed countries and constructing new infrastructure in developing countries are likely to trigger high demand in the construction industry for gantry cranes.
Gantry cranes are used in shipyards and ports to move extremely heavy items and, thus, are commonly used. The shipbuilding industry is engaged in the manufacture of vessels for military, merchant fleet, and offshore. It is further related to other important industries, such as security, transportation, environment, and research, this plays a key role in regional and national industrial infrastructure and security interests. In the growth of this sector, numerous governments around the world are investing heavily. Thus, the growth of the shipbuilding/shipyard industry is expected to drive the growth of the gantry crane sector in the coming years.
In recent years, the demand for gantry cranes has seen a substantial rise in companies' spending on the research and development of gantry cranes. The main focus of the research is on improving the reliability and efficiency of operating/handling gantry cranes. Rising building and infrastructure design challenges have resulted in increased demand for cranes capable of providing better results. It is expected that the growing implementation of advanced technology in gantry cranes would minimize cycle time and increase productivity. Therefore, the effect of this driver is expected to be strong in the coming years on the gantry crane market.
The material handling equipment industry has already been penetrated by connected technology, and recent years have experienced the emergence of GPS-powered and IoT enabled cranes. Smart operation, higher fuel consumption, and lower ownership costs are main features that in recent decades have increased the efficiency of smart gantry cranes.
The Internet of Things has a significant impact on the gantry crane market, helping to minimize repair and maintenance costs by allowing the equipment to self-detect the requisite repair faults. The technology is moving towards data and software analytics, with a significant emphasis on reducing human interaction with computers.
The crane manufacturing companies are working to integrate IT with machine control circuits and use a two-way communication system to make sure that, in the event of any malfunction or emergency during operation, the operator receives warnings. Along with product sales, the manufacturers of gantry cranes would also need to educate and train end users. The simplified supply chain and the high penetration of regional markets are anticipated to be major factors driving business during the forecast era. Overall, the gantry crane market is expected to show an upward trend during the projected timeline.
According to research, the Gantry Crane market is expected to generate revenue of around USD 3,600 Million by the end of 2030, growing at a CAGR of 6.1%.
By Geography, the gantry crane market is segmented into North America, Europe, Latin America, Asia Pacific, and Middle East and Africa.
Asia Pacific is expected to have a large market share due to an increase in industrial and commercial activities in countries such as India, China, Australia, and Indonesia.
Europe is projected to see a substantial rise in the global demand for gantry cranes due to the increase in gradation, reconstruction and renovation of existing infrastructure and the industrial sector.
Middle East & Africa is anticipated to augment remarkable growth in the global gantry cranes market due to an increase in marine trade and economic growth across the country.
North America is one of the main emerging regions that will generate lucrative opportunities in the global gantry cranes market over the forecast period due to an increase in industrial production.
The major players in the global gantry crane market include Aicrane Machinery Group, JASO Industrial Cranes, Doosan Heavy Industries Vietnam Co., Mammoet Holding B.V., Mi-Jack Products, Inc., TNT Crane & Rigging, Konecranes Oyj, Shanghai Zhenhua Heavy Industries Co., Ltd., Liebherr, and Sany Group among others.
Gantry Crane
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