Electric Overhead Travelling (EOT) Cranes: Introduction
- Electric travelling cranes are a common type of overhead crane. Such cranes have a parallel runway with a traveling bridge, which covers the gap. These overhead cranes are extensively utilized in automotive and construction industries where heavy loads move from one place to other. The electric overhead traveling crane can lift heavy loads at high speeds. Furthermore, no obstacles on the factory floor and more control make the electric overhead traveling cranes market highly attractive. EOT cranes are operated through remote, control pendant, or by cabin operator, which is attached to the crane.
Key Drivers of Electric Overhead Travelling (EOT) Cranes Market
- Rise in number of constructions activities across the globe is anticipated to increase the demand for electric overhead traveling cranes. Major construction industries across the globe prefer electric overhead travelling cranes owing to low maintenance cost, reduces labor cost is likely to increase the demand for electric overhead travelling cranes. Furthermore, rise in investment by private companies and governments in infrastructure development projects, which includes road construction, dam, bridges, railway, waterways and many others, are likely to boost the electric overhead travelling (EOT) cranes market across the globe.
- Rise in small- and medium-scale industries across the globe is likely to increase the demand for electric overhead travelling cranes. Rapid expansion of shipping and port industries across the globe is likely to boost the electric overhead travelling cranes market across the globe.
- The COVID-19 virus has caused a majority of businesses across the globe to disintegrate owing to the forced shutdown of production and manufacturing activities. However, major shipping and port industries shut down shipbuilding activities where electric overhead travelling cranes are widely used, which in turn is likely to reduce the demand for EOT cranes. This has led the global economy to contract to its lowest growth rate, which is likely to hamper the electric overhead traveling (EOT) cranes market across the globe.
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Europe & Asia Pacific to Hold Significant Share of Global Electric Overhead Travelling (EOT) Cranes Market
- Europe is projected to account for a major share of the global electric overhead travelling (EOT) cranes market due to a rise in shipping and port building industries across the region. Rise in construction and mining industries across the region is likely to witness major growth for electric overhead travelling (EOT) cranes market during the forecast period.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global electric overhead travelling (EOT) cranes market due to a rise in the number of industries across the region. Rising government expenditure on construction and infrastructure development across the region is anticipated to further boost the electric overhead traveling (EOT) cranes market across the Asia Pacific.
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Global Overhead Cranes Market is expected to cross USD 3,957.0 Million by 2025 growing at a CAGR of 5%.SegmentationBy Product: The two segments are the single girder and double girder overhead cranes in the global overhead cranes market.
Single girder cranes find utility in industries which need the cranes to perform a specific task and not be retrofitted for additional tasks.
They find utility in factories, warehouses, and transportation.Get Sample Copy of This Report @ https://www.marketresearchfuture.com/sample_request/8265By End-User: Virtually all heavy industries, metal processing, chemicals, and utilities find use for overhead cranes.
The automotive industry is expanding rapidly with China expected to increase its automotive output tenfold between 2005 and 2030.
The paper manufacturing and print media industry has relied on overhead cranes for well over a century.
With global mining outputs reaching record levels, and the demand for them (especially rare earth metals) increasing, it is imperative for this industry to use overhead cranes due to the high loads that must be shifted to facilitate metal extraction.
Overhead Travelling Cranes Market Research report provides a detailed analysis of of main manufactures and geographic regions,global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players.
Overhead Travelling Cranes Market report includes definitions, classifications, applications, and industry chain structure, development trends, and key regions distributors analysis.The report also provides supply and demand Figures, revenue, revenue and shares.
value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches.
Global Overhead Travelling Cranes Market is expected to rise from its initial estimated value of USD 4,518.41 million in 2018 to an estimated value of USD 6,065.84 million by 2026, registering a CAGR of 3.75% in the forecast period of 2019-2026.
Overhead Travelling Cranes market imparts a deep understanding of this industry vertical with key emphasis on the market dynamics and projected returns over the forecast period.
Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Overhead Travelling Cranes Market which would mention How the Covid-19 is affecting the Overhead Travelling Cranes Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Corrugated Board Players to Combat Covid-19 Impact.
The speed and efficiency of these cranes are some of the important factors that people consider before buying or renting.
These overhead cranes’ capabilities are usually automated, which makes it one of the important assets for factory line production.
Moreover, they are preferably used in industries such as paper, mining, or automotive.
Different top manufacturers and industries are playing a major role in driving the overhead crane market.Get free sample pdf @ https://www.marketresearchfuture.com/sample_request/8265The report focuses on the overall growth of the global overhead cranes market and also gives information on the revenue generated so far.
In the previous forecast period, the market size was quite large, and due to the growing demand, there is a chance of it to grow up to $3,957.0 million by the end of the year 2025.
The single girder is used when there is no issue associated with hooks.
The Overhead Cranes Market Research Report Forecast is a valuable source of insightful data for business strategists.
It provides the industry overview with recent trends, size, share, growth analysis, historical, futuristic data, revenue, demand and strategic development.The entire Overhead Cranes market has been sub-categorized into type, business type, and end-user.
The report provides an analysis of these subsets with respect to the geographical segmentation.
This research study will keep marketer informed and helps to identify the target demographics for a product or service.Request a FREE Sample Copy of Global Overhead Cranes Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/overhead-cranes-market/download-sampleBy TypeSingle GirderDouble GirderOthersBy Business TypeOriginal Equipment Manufacturers (OEM)AftersalesBy End UserAutomotiveMetal & MiningPaperUtilityAerospaceShipyardsOthersBrowse Full Global Overhead Cranes Market Research Report With TOC At: https://www.valuemarketresearch.com/report/overhead-cranes-marketThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the overhead cranes market include Cargotec Corporation, Brehob Corporation, The Liebherr Group, Gorbel, Inc., KITO Corp., American Crane Norway A/S, D.R.
Cordell & Associates, Inc., XCMG Group, Konecranes, Inc., ACE World Companies.
