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The global gantry crane market was valued at USD 2 billion in 2023 and grew at a CAGR of 5% from 2024 to 2033. The market is expected to reach USD 3.25 billion by 2033. The rising building and construction sector will drive the growth of the global gantry crane market.
An overhead crane which is supported on legs that can move. They might have wheels or they move on a track or rail system. They are usually built to support a bridge. This is referred to as gantry crane. They can lift heavy loads and move them around which makes them indispensable in various industries, especially, building, construction and manufacturing sectors. They can be modified or adjusted according to the requirements of the work. they can be operated manually or can be automated to perform a wide variety of functions. They are highly efficient in lifting heavy loads and transporting them, reducing time and effort needed to do the same when manual work is involved, increasing safety by reducing the risk of injuries and accidents. They are also used in ports, warehouses, mining, logistics and transportation. They are reliable, durable, and efficient. They are cost-effective as they reduce the need for labour.
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The growing building and construction sector – The rapid urbanization and industrialization has increased the demand for infrastructure like roads, bridges, hospitals, schools, houses, utility spaces and others. The increasing government capital expenditure on infrastructure also augments the market’s growth as gantry cranes are indispensable in such big infrastructure projects. The expanding consumer market with e-commerce boom and globalization have also increased the demand for gantry cranes in warehousing, logistics and transportations. The increasing infrastructural development will thereby contribute to the global gantry crane market’s growth.
The high initial costs of gantry crane – gantry crane is a heavy and sophisticated piece of machinery making it capital intensive. Installing a gantry crane is also expensive given the significant infrastructural developments that are needed to be made. Modifications to existing infrastructure or landscape to install and operate gantry crane is also highly expensive. Additionally, the requirement of skilled labour to install and operate gantry cranes. Other equipment which supports gantry crane operation also drives up costs. furthermore, operators and manufacturers need to comply with guidelines which drives up compliance costs. therefore, the high initial costs of gantry crane will hamper the market’s growth.
Technological advancements – the growing need for gantry crane given the increasing need for it in building and construction sector has led to the development and innovation of better features, systems, process and equipment. For instance, there are now smart systems which enable automated control minimizing human intervention thereby reducing risk of human error leading to reduced injuries, accidents and losses. Additionally, there are new features which improve safety with failsafe systems. The advent of IoT has further improved the performance of gantry cranes and expanded its applications across industries. Therefore, technological advancements will enable enhanced gantry crane designs and systems and this will further the market’s growth during the forecast period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global gantry crane market, with a 37% market revenue share in 2023.
The region has a well-established and advanced construction, manufacturing and industrial sector which extensively uses gantry cranes. The region is also at the forefront of technological advancements and innovations which leads to better gantry cranes. It also enables greater access to sophisticated and state-of-the-art technology for users. The stringent regulatory environment which leads to greater accountability from industries contributes to the growing adoption of gantry cranes in these spaces as they are safer. The significant infrastructural development also augments the market’s growth. thriving warehousing, logistics, transportation, energy and mining sectors all contribute to the growing demand for gantry cranes.
North America Region Gantry Crane Market Share in 2023 - 37%
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The type segment is divided into single girder gantry crane, double girder gantry crane and portable gantry crane. The doble girder gantry crane segment dominated the market, with a market share of around 40% in 2023. Double girder gantry cranes have two horizontal girders. They run the whole length of the bridge. They offer enhanced stability which makes them the preferred choice to improve safety. The improved stability also enables greater load bearing capacity which increases the about of weight it can lift and move. The lifting capability expands its applications across industries. furthermore, they offer an increased room for movement, including in height and wingspan. They are strong and durable making them ideal for longer projects. They are versatile and given the technological advancements have become highly advanced enhancing its efficiency, performance and safety.
The operation type segment is divided into manual and automatic. The automatic segment dominated the market, with a market share of around 57% in 2023. Automatic gantry cranes are highly automated which improves efficiency and reduces human errors thereby improving safety. The automation leads to optimization which transfers into better resource allocation saving both time and money. The controls offered in these systems streamline work making them more efficient. Furthermore, they are highly efficient in identifying faults and rectifying them, saving precious time and money. They are consistent, durable and reliable. The integration of smart technologies further reduces the need for human intervention making it more effective than manual.
The application segment is divided into construction, manufacturing, port and logistics, mining, and others. The construction segment dominated the market, with a market share of around 38% in 2023. Construction industry uses heavy raw materials, component and equipment that need to lifted and moved to different places which requires gantry cranes. Construction sites can be anywhere, crowded urban spaces or remote regions, making gantry cranes ideal as they are capable of operating in any terrain and environment. The need to offer a safe environment at construction sites, both for people and property, also necessitates the use of gantry cranes. They are required by regulations. Furthermore, they optimize work making it more efficient, faster thereby completing projects more quickly. The modern world needs quick project cycles and gantry cranes contribute towards this. The growing infrastructural development will continue to make construction the dominant user of gantry crane in the future as well.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 2 Billion |
| Market size value in 2033 | USD 3.25 Billion |
| CAGR (2024 to 2033) | 5% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Type, Operation Type and Application |
As per The Brainy Insights, the size of the global gantry crane market was valued at USD 2 billion in 2023 to USD 3.25 billion by 2033.
Global gantry crane market is growing at a CAGR of 5% during the forecast period 2024-2033.
The market's growth will be influenced by the growing building and construction sector.
The high initial costs of gantry crane could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global gantry crane market based on below mentioned segments:
Global Gantry Crane Market by Type:
Global Gantry Crane Market by Operation Type:
Global Gantry Crane Market by Application:
Global Gantry Crane Market by Region:
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