Gantry Crane Market Growth Reliant on Developments in Construction Industry: Fact.MR Study
Published : 20 May 2021 Industry: Industrial Goods
The global gantry crane market is anticipated to surpass a valuation of US$ 3 billion by 2031, expanding at a healthy CAGR of approximately 6% throughout the 2021-2031 forecast period, according to a recently published report on the subject by award-winning consulting firm Fact.MR. Rapid expansion of key public infrastructure such as shipyards, airports, seaports and highways are majorly driving market growth.
Key end users are leaning towards lightweight, portable and easy-to-use gantry cranes, such as those manufactured from aluminum, in order to attain greater economies of scale with respect to production. Additionally, emphasis on connected technologies, including IoT-enabled GPS powered gantry cranes, are also surging in popularity.
For instance, in February 2021, Konecranes collaborated with telecommunications company Telia to optimize port operations with 5G technology and analytics, including monitoring port handling equipment such as gantry cranes across Finland. Likewise, Schildknecht offers the DATAEAGLE 7050 gateway with various fieldbus interfaces to be mounted on rubber tired gantry cranes.
Key Takeaways from Market Study
- By application, gantry cranes for construction activities are expected to reach new heights
- Portable gantry cranes are expected to generate bulk of global demand over coming years
- By operation, automatic gantry cranes are most preferred amid rising demand for automating industrial operations
- Heavy-duty cranes capable of lifting loads exceeding 50 tons to exhibit high growth
- The U.S to emerge as a lucrative market for gantry cranes, attributed to heightened public and private sector construction projects
- India to generate lucrative expansion opportunities for prominent market players
- Extensive application in the shipping industry to bolster growth prospects across China
“Ever-widening scope of construction and infrastructure activities is prompting key manufacturers to introduce highly efficient and flexible gantry cranes suitable for key operations within the industry, widening growth prospects,”says a Fact.MR analyst.
Prominent gantry crane manufacturers as profiled in Fact.MR’s report include 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., and Mammoet Holding B.V, among others.
- In December 2020, JASO Industrial Cranes received all the industrial cranes for its new marine wind turbine factory in Le Havre from Siemens Gamesa. This new plant will manufacture the 71 offshore wind turbines at the Fécamp wind farm in Normandy
- In May 2021, the Liebherr Group delivered its first LTM 1650-8.1 mobile crane in Spain to Grúas y Transportes Ibarrondo S.A., a transportation company. The crane is available with two telescope boom lengths, Y guying and a luffing jib up to 91 meters in length
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the gantry crane market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of type (full gantry cranes, semi gantry cranes, truss gantry cranes, and portable gantry cranes), operation (manual and automatic), lifting capacity (less than 30 tons, 30-50 tons, and more than 50 tons) and end use (automotive, metal & mining, construction, paper & pulp, aerospace, utility, shipyards, and others) across five major regions of the world (North America, Europe, Asia Pacific, Middle East & Africa, and South America).
About the Industrial Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the industrial goods and automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive