According to a recently released research on the subject from renowned consulting firm Fact.MR, the worldwide gantry crane market is predicted to achieve a valuation of US$ 3 billion by 2031, growing at a strong CAGR of about 6% throughout the 2021–2031 projection period. Growth in the industry is primarily being driven by the quick expansion of important public infrastructure, including motorways, airports, seaports, and shipyards.
Key end customers are gravitating toward gantry cranes made of lightweight materials that are portable and simple to operate in order to increase production’s scale economies. Additionally, emphasis on linked technology is becoming more and more common, including GPS-powered gantry cranes that are IoT-enabled.
For instance, in February 2021, Konecranes and the telecom company Telia worked together to streamline port operations using 5G technology and analytics, which included keeping track of port handling machinery like gantry cranes throughout Finland. The DATAEAGLE 7050 gateway from Schildknecht may be mounted on rubber-tired gantry cranes and has a variety of fieldbus connections.
For critical insights on this market, request for More Info – https://www.factmr.com/connectus/sample?flag=S&rep_id=5981
Key Takeaways from Market Study
- Gantry cranes for use in construction are anticipated to advance in terms of applicability.
- Over the future years, portable gantry cranes are anticipated to account for the majority of global demand.
- Automatic gantry cranes are the most popular in terms of operation as the need to automate industrial activities grows.
- Heavy-duty cranes that can lift objects weighing more than 50 tonnes to show rapid expansion
- Due to an increase in both public and private construction projects, the United States is expected to become a lucrative market for gantry cranes.
- India will present attractive prospects for market leaders to expand there.
- extensive use in the maritime sector to improve possibilities for growth across China
Competitive Landscape
Leading gantry crane producers as described in Fact. 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. are a few additional companies mentioned in MR’s study.
- 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
What Makes the U.S. a High Potential Market for Gantry Cranes?
Given its huge volume of residential and non-residential construction projects, the United States is expected to produce prospective expansion prospects. As stated by the U.S. According to the Census Bureau, the construction industry was worth US$ 1.3 trillion as of 2019, with annual spending of US$ 1.04 trillion between 2009 and 2019.
Spending on building in the private sector came to $977 billion, while spending in the public sector came to $329 billion. As a result, prominent corporations are investing in cutting-edge construction machinery and increasing the use of gantry cranes to streamline operations.
