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Gantry Crane Market Size By Type (Single Girder, Double Girder, Portable Gantry Crane), By Lifting Capacity (Below 25 Ton, 26 Ton to 50 Ton, 51 Ton to 80 Ton, Above 81 Ton), By Application (Construction, Manufacturing, Ports & Logistics, Mining) & Forecast 2023 – 2032

  • Report ID: GMI6098
  • Published Date: Jun 2023
  • Report Format: PDF

Gantry Crane  Market Size

Gantry Crane Market size was valued at USD 1.5 billion in 2022 and is anticipated to grow at over 4.5% CAGR from 2023 to 2032 owing to the growth in global trade and international shipping activities. The global market for cranes is expected to cross a valuation of USD 38 billion during the forecast period.
 

Gantry Crane Market

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The demand for gantry cranes at ports and related facilities will continue to rise due to increasing trade volumes and the need for efficient supply chain management. Industries are constantly seeking ways to improve operational efficiency and productivity.  Existing infrastructure including ports, railways, and manufacturing facilities often require upgrades and modernization. As infrastructure undergo renovations and capacity expansion, the need for advanced gantry cranes will increase. Upgraded infrastructure projects demand modern & more efficient gantry cranes to handle the increased loads and meet the contemporary operational requirements.
 

Skilled operators and technicians are crucial for the operation & maintenance of gantry cranes. However, the industry may face challenges in finding & retaining skilled personnel. Labor shortages, skill gaps, and the aging workforce can pose difficulties in meeting the demand for qualified professionals. Companies need to invest in training & development programs to address these skill shortages and ensure a competent workforce. Additionally, increasing emphasis on environmental regulations and sustainability can pose challenges for the gantry crane industry. Businesses need to stay updated with the evolving environmental regulations and invest in eco-friendly solutions to meet the sustainability requirements, which will boost the market growth.
 

COVID-19 Impact

The COVID-19 pandemic had significant impacts on the gantry crane market, causing disruptions in the global supply chain and a slowdown in industrial & infrastructure projects. Lockdown measures and restrictions led to delays in the production & delivery of gantry cranes, while decreased global trade & port activities reduced the demand for these cranes. Financial uncertainties and budget constraints resulted in reduced capital expenditure, which affected the purchasing of gantry cranes.
 

Additionally, health & safety concerns also prompted the implementation of new protocols, thereby impacting productivity. However, as countries eased restrictions and focused on economic recovery, the gantry crane industry depicted signs of recovery with infrastructure investments and a continued emphasis on automation & efficiency. These factors are providing opportunities for business development.
 

Gantry Crane Industry Restraint

Skilled operators and technicians are crucial for the operation & maintenance of gantry cranes. However, the industry may face challenges in finding & retaining skilled personnel. Labor shortages, skill gaps, and the aging workforce can pose difficulties in meeting the demand for qualified professionals. Companies need to invest in training & development programs to address these skill shortages and ensure a competent workforce. Also, increasing emphasis on environmental regulations and sustainability can restrain the market expansion. The sector need to stay updated with the evolving environmental regulations and invest in eco-friendly solutions to meet the sustainability requirements thereby boosting gantry crane market statistics.
 

Gantry Crane Market Trends

The integration of automation & robotics is gaining momentum in the gantry crane industry. Automated gantry cranes equipped with advanced sensors, machine vision, and artificial intelligence capabilities enable precise & efficient material handling operations. These technologies enhance productivity, reduce labor costs, and improve safety. IoT plays a significant role in the gantry crane industry by enabling the collection & analysis of real-time data. IoT connectivity allows remote monitoring, predictive maintenance, and the optimization of crane performance. It also enhances operational efficiency, reduces downtime, and facilitates proactive decision-making.
 

Gantry Crane Market Analysis

Gantry Crane Market Size, By Product,

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The portable gantry crane market held over 40% of the share in 2022 and will be valued at USD 850 million in 2032. Portable gantry cranes offer flexibility, ease of installation, and mobility, making them suitable for various applications & industries. They eliminate the need for permanent installations and can be easily moved to different locations. The versatility & cost-effectiveness of portable gantry cranes makes them an attractive choice for businesses seeking efficient & adaptable lifting solutions, thus driving business development.
 

Gantry Crane Market Share, By Lifting Capacity,

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The 81 ton segment exceeded USD 500 million in 2022 and is set to observe 4.5% growth rate between 2023 and 2032. As industries continue to handle heavier loads, there is a growing demand for gantry cranes with a higher lifting capacity of above 81 tons. The need to efficiently handle large & heavy components in sectors including construction, manufacturing, and shipping also drives the demand for gantry cranes with lifting capacities above 81 tons. These cranes provide the necessary strength & capacity to handle heavy loads, thereby contributing to sector growth.

 

The construction sector reached USD 450 million in 2022 and is poised to attain 5% gains through. The global industry is witnessing significant growth led by the numerous ongoing infrastructure projects. Gantry cranes play a crucial role in construction activities, facilitating the lifting & movement of heavy materials and large equipment. As construction projects expand and become more complex, the gantry crane market demand in the construction segment is expected to increase. The need for efficient material handling, productivity improvement, and the adherence to safety standards is driving the industry progression.
 

U.S. Gantry Crane Market Size,

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The North America gantry crane industry held nearly 35% share in 2022 and will be worth USD 850 million in 2032. North America is witnessing continuous infrastructure development & modernization initiatives. The region has a strong manufacturing sector due to the presence of industries such as automotive, aerospace, electronics, and heavy machinery. Gantry cranes are essential equipment for material handling and assembly processes in these industries. The demand for gantry cranes in manufacturing facilities is driven by the need for efficient & precise lifting of heavy components and large equipment.
 

Gantry Crane Market Share

Major companies operating in the gantry crane market are:

  • Cargotec Corporation
  • Columbus McKinnon Corporation
  • Demag Cranes AG
  • Eilbeck Cranes
  • GH Cranes & Components
  • Jaso Industrial Cranes,
  • KITO Group
  • Konecranes
  • Liebherr Group
  • Shanghai Zhenhua Heavy Industries Co. Ltd. (ZPMC),
  • Tadano Ltd.,
  • Terex Corporation.
     

Gantry Crane Industry News

  • In January 2023, Larsen & Toubro (L&T), a major Indian multinational corporation, and Konecranes entered into a licensing agreement for the manufacturing & marketing of Konecranes port cranes in India. This collaboration will help Konecranes extend its presence in this dynamic market.
     

This gantry crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 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 81 ton

Market, By Application

  • Construction
  • Manufacturing
  • Ports & logistics
  • Mining
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of gantry crane reached USD 1.5 billion in 2022 and will witness over 4.5% CAGR during 2023 to 2032, owing to the rise in global trade and international shipping activities.
The above 81 ton gantry crane segment was valued at USD 500 million in 2022 and is anticipated to register 4.5% growth 2032, backed by the need for heavy load handling in sectors including construction, manufacturing, and shipping.
North America gantry crane business is expected to be valued at USD 850 million by 2032, attributed to the continuous infrastructure development & modernization initiatives in the U.S. and Canada.
Cargotec Corporation, Columbus McKinnon Corporation, Demag Cranes AG, Eilbeck Cranes, GH Cranes & Components, Jaso Industrial Cranes, KITO Group, Konecranes, Liebherr Group, Shanghai Zhenhua Heavy Industries Co. Ltd. (ZPMC), Tadano Ltd., and Terex Corporation.

Gantry Crane Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 417
  • Countries covered: 15
  • Pages: 350
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