Gantry Crane Market to Expand At 6% CAGR; Increasing Sea Trading Activities Driving Growth: Fact.MR
Tuesday, June 15, 2021
Growing demand for medium capacity gantry crane for heavy component lifting in automotive sector accelerates the market growth
NEW YORK, June 7, 2021 /PRNewswire/ -- As per a study by Fact MR, the global gantry crane market is forecast to cross the valuation of US$ 3 Bn by the end of 2031. According to the study, gantry crane are widely used in moving and lifting shipping containers in dockyards. Surge in sea trading activities have increased the demand for gantry cranes.
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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.
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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.
Discover more about the gantry crane market with 227 figures and 80 data tables, along with the table of contents. You will also find detailed market segmentation on
https://www.factmr.com/report/gantry-crane-market
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?
Explore Fact.MR's Coverage on the Industrial Goods Domain
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Rough Terrain Crane Market - The rough terrain crane market report has been well researched and classified into various parts. The rough terrain cranes market structure contains many categories, as well as segmentation based on lifting capacity and end-use. Fact.MR provides a comprehensive and in-depth overview of the rough terrain crane market.
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About Fact.MR
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SOURCE Fact.MR
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