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Gantry Crane Market Size
Gantry Crane Market was valued at USD 1.6 billion in 2023 and is estimated to register a CAGR of over 4% between 2024 and 2032. An emerging trend in the market is the adoption of eco-friendly and sustainable practices. Manufacturers are developing cranes with energy-efficient technologies, such as regenerative braking and solar power integration, reducing carbon footprint. This shift aligns with global sustainability goals, driving the demand for environmentally conscious gantry crane solutions.
The integration of automation technologies significantly enhances gantry crane efficiency, driving market growth. Automation streamlines operations by enabling precise control, reducing human error, and optimizing workflow. Automated gantry cranes can perform tasks with higher speed and accuracy, leading to increased productivity and cost savings for industries. Additionally, automation improves safety by minimizing the need for human intervention in hazardous environments. As industries increasingly prioritize efficiency and safety, the demand for automated gantry crane solutions continues to grow, positioning automation integration as a key factor for market expansion.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 1.6 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 2.2 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 260 |
| Tables, Charts & Figures: | 330 |
| Segments covered: | Type, Lifting Capacity, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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While gantry cranes offer substantial benefits, high initial investments pose a significant challenge, deterring some potential buyers. The upfront expenses for purchasing & installing gantry crane systems can be prohibitive for Small and Medium-sized Enterprises (SMEs) or businesses operating on tight budgets. Additionally, accompanying costs, such as training personnel, maintenance, and infrastructure modifications, further escalate the total expenses. This financial barrier may lead some buyers to opt for alternative material handling solutions or delay their investment in gantry cranes, limiting market growth, especially among cost-sensitive industries.
Gantry Crane Market Trends
Expansion and collaboration are vital strategies in the gantry crane industry. Manufacturers often expand their product portfolios to cater to diverse industry needs while exploring new geographic markets. Collaborations with technology firms enable the integration of advanced features, such as automation and IoT, enhancing crane efficiency. Such initiatives foster innovation and market growth, ensuring competitiveness in the industry.
In response to the increasing demand for flexibility and customization, gantry crane manufacturers are offering modular designs and adaptable features. These cranes can be easily tailored to specific customer requirements, allowing for greater versatility in various industries. Modular gantry crane systems enable faster assembly and installation, reducing downtime for businesses.
Additionally, they offer scalability, allowing companies to expand their operations without the need for extensive modifications or replacements. This trend toward modular designs reflects the market's emphasis on efficiency, cost-effectiveness, and meeting diverse application needs.
Gantry Crane Market Analysis
Based on type, the double girder gantry segment accounted for a market share of around 45% in 2023. Double girder gantry cranes offer higher lifting capacities and greater stability compared to single girder models, making them suitable for heavy-duty applications. Industries requiring efficient handling of large and bulky loads, such as manufacturing, shipbuilding, and steel mills, fuel the demand for double girder gantry cranes, stimulating market growth.
Based on application, the gantry crane market is categorized into construction, manufacturing, port & logistics, mining, and others. Industries rely on gantry cranes for streamlined material handling in manufacturing processes. Gantry cranes facilitate the movement of heavy machinery, raw materials, and finished products within manufacturing facilities, enhancing efficiency and productivity. Their versatility and lifting capabilities make them indispensable assets in various manufacturing operations, boosting demand in this sector. In the manufacturing segment, there is a growing emphasis on incorporating advanced technologies, such as automation, remote control systems, and real-time monitoring, into gantry cranes. This enhances productivity, safety, and operational efficiency, propelling the demand for technologically sophisticated gantry crane solutions across various industries.
North America dominated the global gantry crane market with a major share of over 39% in 2023. The regional market is witnessing steady growth driven by increasing investments in infrastructure projects, expansion of manufacturing facilities, and the need for efficient material handling solutions. Companies are focused on developing advanced gantry cranes with enhanced features, such as automation, remote control capabilities, and improved safety measures, to meet the evolving industry demands.
In Europe, particularly in countries such as France, Spain, and the UK, the gantry crane market is experiencing a surge in demand. This is fueled by the region's focus on infrastructure development including the construction of bridges, ports, and industrial facilities. Additionally, stringent safety regulations and the adoption of automated and remote-controlled gantry cranes are fostering innovation and technological advancements in this sector.
The Asia Pacific region is emerging as a major hub for the gantry crane market. Rapid industrialization, urbanization, and infrastructure development projects in China, India, and other Southeast Asian countries, are driving the demand for efficient material handling solutions. Manufacturers are focused on producing cost-effective and technologically advanced gantry cranes to cater to the region's growing construction and manufacturing sectors.
Gantry Crane Market Share
Daifuku Co. Ltd, Honeywell International Inc. and Knapp AG hold a significant market share of over 42% in the automated storage and retrieval system market. These companies boast extensive experience and expertise in manufacturing high-quality gantry cranes, earning them a reputation for reliability and innovation in the industry. Their global presence and established distribution networks enable them to reach a diverse range of markets and customers worldwide.
Investments in research and development have allowed them to introduce cutting-edge technologies and solutions, catering to the evolving needs of various sectors such as shipping, construction, and logistics. Lastly, their comprehensive service offerings, including maintenance, training, and aftermarket support, contribute to customer loyalty and satisfaction, further solidifying their dominant position in the market.
Gantry Crane Market Companies
Major players operating in the gantry crane industry are:
- Cargotec Corporation
- Columbus McKinnon Corporation
- Demag Cranes AG
- KITO Group
- Konecranes
- Liebherr Group
- Sany Group
Gantry Cranes Industry News
- In March 2023, Mi-Jack, a manufacturer of Rubber Tire Gantry (RTG) cranes, collaborated with U.S. Hybrid, and Ideanomics subsidiary, The companies aimed to jointly develop a hydrogen powered RTG crane, marking a significant step toward sustainable material handling solutions. Specifically, Mi-Jack selected U.S. Hybrid to undertake the conversion of one of its existing RTG cranes from a diesel-powered system to a hydrogen-powered system, leveraging U.S. Hybrid's expertise in this field.
- In January 2023, Konecranes, a manufacturer of port cranes, strengthened its foothold in India through a strategic licensing agreement with Larsen & Toubro (L&T), a prominent Indian multinational company. This move was aimed at expanding Konecranes' presence and operations in the rapidly growing Indian market, leveraging L&T's extensive manufacturing capabilities and local market expertise.
This gantry crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipment (Units) from 2021 to 2032, for the following segments:
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Market, By Type
- Single girder gantry crane
- Double girder gantry crane
- Portable gantry crane
Market, By Lifting Capacity
- Below 25 ton
- 26 ton to 50 ton
- 51 ton to 80 ton
- Above 80 ton
Market, By Application
- Construction
- Manufacturing
- Port & logistics
- Mining
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- MEA
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
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