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I AgreeAnalysis of Gantry Crane market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global gantry crane market is forecast to surpass a valuation of US$ 3 billion by 2031, expanding at a CAGR of approximately 6% over the next ten years. Growth is majorly underpinned by extensive uptake across the construction industry, amid the ever-expanding scope of public and private infrastructure development. Demand for truss gantry cranes and also demand for gantry cranes from the automotive sector is expected to rise.
As per a new report by Fact.MR, demand for portable gantry cranes is expected to surpass that of manual ones, amid growing need for ensuring flexibility in operations. The report tracks global sales of gantry cranes in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the industrial goods domain in general, and gantry crane demand in particular. This edition (2021-2031) brings readers up-to-date with key market developments, providing analysis on how manufacturers and other stakeholders are reacting to change.
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In recent years, global construction activities have increased, attributed to increasing commercialization and urbanization of key regions. This has boded well for the gantry crane market. Key regions are witnessing an increase in infrastructure projects such as ports, harbors and commercial complexes.
Demand suffered a significant setback during the coronavirus pandemic, with infrastructure projects entering a hiatus for most part of 2020. Mandatory social distancing protocols compelled construction companies to cease production, causing limited uptake of gantry cranes. Fortunately, as lockdowns eased in the latter half, growth projections rebounded, largely restoring them to pre-pandemic levels.
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Globally, public and private infrastructure spending has accelerated significantly, amid large-scale urbanization. Construction activities are inclining exponentially, with governments spending massively on housing and non-housing projects, thus generating demand for gantry cranes.
Additionally, globalization has paved way for enhanced sea-borne trade, necessitating the construction of ports and other maritime infrastructure, especially across countries such as China, South Korea, Singapore, India, and South Korea, which is inclining demand for gantry cranes.
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Mobility and versatility of aluminum gantry cranes are gaining immense popularity, translating into revenue opportunities for dealers, owing to their operator-friendly handles for height adjustment. Equipment manufacturers are increasing the availability of compact and easily transportable aluminum gantry cranes that meet storage requirements of end users.
Lightweight, portable, and easy-to-use, these cranes can be customized as per specific client requirements. In order to adhere to global industry standards, companies in the gantry crane market are conducting load tests before shipment. Operator safety, mobility, and simplicity in crane designs are translating into incremental opportunities for equipment manufacturers and dealers.
Gantry cranes suppliers are making crane solutions affordable to key income generating sectors, such as automotive, aerospace, and ports & shipping industries. However, gantry cranes have limitations in their size and lifting capacity, which is likely to restrain market growth to some extent. Hence, players are educating their clients about safety ratings and advising on a standard or above average span length before entering a purchase decision.
The U.S is likely to generate potential expansion opportunities given its high volume of residential and non-residential construction projects. According to the U.S. Census Bureau, as of 2019, the construction industry was valued at US$ 1.3 trillion, with average spending totaling US$ 1.04 trillion between 2009 and 2019.
Private sector construction spending totaled US$ 977 billion, while public sector spending amounted to US$ 329 billion. Consequently, major companies are investing in advanced construction equipment, widening adoption of gantry cranes to facilitate efficient operations.
According to Invest India, by 2025, the construction market is expected to emerge as the world’s 3rd largest market, with average output expected to incline by over 7% annually. By 2020, the industry was expected to be valued at US$ 5 billion. Additionally, the government has permitted 100% FDI under the automatic route.
All these figures are resultant from the increasing need to incorporate robust approaches to expand investment in public and private infrastructure projects. In order to facilitate enhanced construction activities, deployment of gantry cranes have acquired high importance, prompting numerous regional and global level manufacturers to increase inroads in the region.
China is considered to be the world’s largest gantry crane manufacturer, offering a broad range of product offerings for key industrial applications, a trend which is boosting the country’s growth prospects.
While the construction industry shall remain a key application area, demand is especially inclining due to the ever-widening shipping industry. This is largely in response to the every swelling volumes of international trade across Asia.
Globally, rapid urbanization has led to an uptick in various infrastructure projects, ranging from residential buildings to massive public structures such as offices, airports, seaports, highways and rail networks. Hence, uptake of advanced gantry cranes has increased manifold in recent years.
According to a report published by Global Construction Perspectives and Oxford Economics, by 2030, the volume of construction output globally is anticipated to grow by 85% to US$ 15.5 trillion.
Portable gantry cranes are particularly popular in the construction industry as it can disassemble, load up, and then be transported to a different location easily. It is highly suitable for lifting small concrete blocks, steel girders and lumber.
The portable gantry cranes landscape is interspersed with the presence of several regional players, especially across emerging countries. Aditya Cranes Pvt. Ltd., a prominent Indian manufacturer, produces portable gantry cranes for warehouse and small workshop operations.
Key manufacturers rely on a slew of expansion strategies, including new product launches, mergers & acquisitions and foraying into new markets to enhance their footprints. Some notable developments are as follows:
*This list is indicative- full details about prominent gantry crane manufacturers are available upon request.
Attribute |
Details |
Forecast Period |
2021-2031 |
Historical Data Available for |
2016-2020 |
Market Analysis |
US$ Mn for Value & ‘000 Units for Volume |
Key Regions Covered |
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Key Countries Covered |
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Key Segments Covered |
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Key Companies Profiled |
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Type
Operation
Lifting Capacity
End Use
Region
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According to Fact.MR, the global gantry crane market is slated to surpass US$ 3 billion by 2031, expanding at approximately 6% CAGR.
As per the study, gantry crane deployment is anticipated to be maximum across the construction industry, amid rising number of infrastructure projects due to rapid urbanization.
India and China will be the primary growth hotspots for key gantry crane manufacturers.
JASO Industrial Cranes, Aicrane Machinery Group, and Mi-Jack Products are prominent gantry crane manufacturers profiled by Fact.MR.