Overhead Cranes Market Size, Share, Growth Analysis, By Type(Single Girder Overhead Cranes, and Double Girder Overhead Cranes), By Components(Automotive, Paper, Utility, Aerospace), By Region - Industry Forecast 2024-2031

Global Overhead Cranes Market size was valued at USD 5878.86 Million in 2022 and is poised to grow from USD 6117.54 Million in 2023 to USD 8411 Million by 2031, growing at a CAGR of 4.06% in the forecast period (2024-2031).

The need for overhead cranes is growing, which is driving the growth of the global overhead cranes market. These services include manufacturing, transportation & logistics, warehousing & warehousing. Government and private sector organizations invest in infrastructure projects, including the construction of roads, dams, bridges, railways and waterways. Many heavy loads must be lifted and transported by large overhead cranes. Consequently, the need for overhead cranes is growing in this growing industry. Additionally, specially equipped overhead cranes provide precise operation if required. At launch, these measures are expected to increase the demand for overhead cranes.

Globally, infrastructure gaps are an urgent issue in almost all countries, requiring capital-based financing and recurring spending in seven sectors including energy, telecommunications, airports, including roads, railways, ports and water. According to the Global Infrastructure Group (GIH) by 2020. Current investments in 56 global countries are valued in US dollars $79 Billion, while the funding requirement is US$1.5 Billion. Through the G20 initiative, GIH seeks to attract investment from private and public institutions to reduce infrastructure gaps.