COMMENT


Crane market growth to accelerate by 2031


T


he overhead crane market is forecast to grow at a CAGR of 5.5% between 2024- 2031, according to Orion Market Research, driven by a rising demand in manufacturing,


construction, and power generation and the expansion of manufacturing factories as they aim for higher production volumes to meet these rising demands. As well as overhead cranes being cost-effective,


requiring less manpower and lower long-term operational costs. They are ideal for infrastructure developments; roads, bridges, and power plants, where heavy construction materials are lifted and maneuvered. For example, in 2023 Konecranes won a contract to


upgrade the reactor hall overhead crane at Sweden’s Oskarshamn Nuclear Power Plant. This upgrade was crucial for servicing the reactor and managing the removal of spent fuel casks while adhering to strict regulatory standards. The contract involved engineering, manufacturing, delivery, and installation of modernization components including a 165-ton trolley/ hoist, over a two-year timeline.


January 2025 Issue 257


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Air Business Ltd acts as our mailing agent. Globally, the overhead crane market is booming


due to increased safety and efficiency. They eliminate manual lifting, reducing worker injuries and accidents offering precise control over lifting and maneuvering. The bridge crane segment is expected to hold the


largest share of the market due to their superior load capacity, flexibility, and efficiency. They can handle heavy-duty industries like steel mills, shipbuilding, and power plants, and can be designed with varying spans and girders. Bridge cranes can be integrated with automation systems for safety and efficiency. A rise in automotive, manufacturing, and construction in China increases the demand for overhead cranes for effective material handling. Also India’s e-commerce and logistics industries are expanding, which mandates the development of several warehouses and distribution facilities, all of which rely largely on overhead cranes to store and retrieve items efficiently.


Jenny Eagle, editor follow us on LinkedIn & Twitter


Hoist magazine @Hoist_Magazine


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