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The Automated Overhead Cranes Market report by “The Insight Partners” entails detailed information regarding the market valuation over the period.
NEW YORK, UNITED STATES, November 18, 2022 /EINPresswire.com/ — According to our new research study on “Automated Overhead Cranes Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Level of Automation, Industry, and Geography,” the market is valued at US$ 1,827.29 million in 2020 and is expected to reach US$ 2,928.59 million by 2028; it is estimated to register a CAGR of 6.7% during the forecast period.
Automated Overhead Cranes Market: Competitive Landscape and Key Developments
Konecranes, Sumitomo Heavy Industries, Ltd., Kalmar (Cargotec), Liebherr, and Dongqi Group are the key automated overhead crane market players profiled in the report. Several other essential automated overhead crane market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments in the automated overhead crane market are mentioned below:
In December 2020, Konecranes’ extraordinary general meeting approved the merger of Konecranes Plc and Cargotec Corporation.
In December 2020, CLESCRANE and Siemens signed a contract with Siemens PLM Software NX in FY19/20. CLESCRANE will enable Siemens PLM Software NX to enhance product quality, shorten product development cycles, manufacture more innovative products and provide the highest quality products along with safe and efficient solutions
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Companies Profiled in this report includes: Dongqi Group,EMH, Inc.,Entsorgaphin SPA,Henan Clescrane Systems Co. Ltd.,Hoist UK,Konecranes Oyj,Kundle Industries Inc.,Sumitomo Heavy Industries Material Handling Systems Co. Ltd.,Weihua Cranes,Acculift
Rising Number of Distribution Centers and Warehouses to Provide Lucrative Opportunities for Automated Overhead Crane Market Growth during Forecast Period
The development of automated gantry cranes is projected to be one of the foremost technological advancements in the overhead crane industry. The application of connected technologies is already infused across the material handling equipment industry, and it has also witnessed the expansion of GPS-powered and IoT-enabled cranes. Thus, enhanced smart operations, higher fuel efficiency, and lower cost of ownership are some of the key features which have boosted the effectiveness of smart gantry cranes in recent years. Furthermore, the players operating in the market have huge opportunity to boost their customer base, product portfolio, and annual revenues, by developing and commercializing the advanced technology. Majority of the gantry crane manufacturers are investing substantial amounts in respective R&D teams to enhance their product portfolio. The investments in automated gantry cranes are expected to be beneficial for the automated overhead crane market players in the years to come.
The automated overhead cranes market size in North America is growing rapidly. The region’s significant share is mainly due to a high level of customer awareness and greater acceptance of innovative technologies in this region. The automated overhead cranes are increasingly used in high-risk environments, including a manufacturing unit, metal and steel, shipbuilding, and the construction industry. Increased government support through subsidies, a positive economic outlook, and a large production base drive the sales of high-capacity automated overhead cranes for lifting heavy items. The market players in this region are continuously developing overall business processes to meet end users’ demands for high-quality products. Further, North America is a home for oil and natural gas production. North America is highly inclined to keep its marine transportation system functioning safely and efficiently. Thus, it is focused on obtaining data about the depth of water, the shape of the seafloor and coastline, and other physical features of water bodies. To collect this data, the adoption of automated overhead cranes is increasing.
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Technological Innovations in Construction Equipment Market
Electrification is shaping the construction equipment industry, which presents substantial opportunities and design options. Electrification has been rising in most of the market categories, including construction equipment for automobiles, buses, and other vehicles. The maturation and affordability of modern technologies and the tightening of pollution restrictions offer feasibility to electrification, which have altered the future of the construction equipment business. Several cities across the world have issued prohibitions on the use of diesel within city borders, affecting construction equipment operations in certain areas. In China and Europe, strong pollution standards for heavy machinery and equipment use are being imposed. With the usage of electric construction equipment, these rules related to emission and noise pollution criteria can be easily fulfilled. The number of machines and charging stations required will be determined in large part by the desired production/transport volumes and the haul cycle. The continuous advancements in electric variants of existing/new products provide lucrative opportunities for the growth of the construction equipment market during the forecasted period.
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