Gantry Crane Market Size Report, Industry Share, Analysis, Growth, 2030

Gantry Crane Industry Prospective:

The global gantry crane market size was worth around USD 2.1 billion in 2022 and is predicted to grow to around USD 3.6 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6% between 2023 and 2030.

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The report analyzes the global gantry crane market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the gantry crane industry.           

Gantry Crane Market: Overview

A gantry crane is a type of crane that is supported by a structure typically consisting of two vertical legs and an overhead beam. It is commonly used in industrial and construction settings for lifting and moving heavy objects or materials. The legs of a gantry crane are usually mounted on wheels or rails, allowing the crane to move horizontally along a track or across a wide area. The overhead beam, known as the bridge or girder, spans between the legs and supports a trolley or hoist mechanism that moves vertically to lift and lower loads. Gantry cranes are versatile and can be found in various sizes and configurations to meet different lifting requirements, ranging from small portable models used in workshops to large-scale cranes used in shipyards and construction sites.

Key Insights

• As per the analysis shared by our research analyst, the global gantry crane market is estimated to grow annually at a CAGR of around 6% over the forecast period (2023-2030).
• In terms of revenue, the global gantry crane market size was valued at around USD 2.1 billion in 2022 and is projected to reach USD 3.6 billion, by 2030.
• One of the main reasons driving the demand for Gantry Crane around the world is the increasing demand from the construction and infrastructure sector. Gantry cranes are extensively used in construction projects for lifting and moving heavy materials such as concrete blocks, steel beams, and precast elements.
• Based on the type, the portable gantry cranes segment will capture the largest market share during the forecast period.
• Based on the lifting capacity, the above 100 tons segment will grow at a significant rate during the forecast period.
• Based on the application, the construction segment is expected to capture the largest revenue share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Gantry Crane Market: Growth Drivers

Increasing demand from the construction and infrastructure sector

The construction and infrastructure sector plays a crucial role in driving the demand for gantry cranes. Gantry cranes are extensively used in construction projects for lifting and moving heavy materials such as concrete blocks, steel beams, and precast elements. The growing investments in infrastructure development, including the construction of bridges, highways, railways, ports, and buildings, create a significant demand for gantry cranes. As urbanization and industrialization continue to expand globally, there is a need for efficient material handling equipment in construction sites to improve productivity and ensure the timely completion of projects. Gantry cranes provide the necessary lifting capacity, flexibility, and maneuverability required for construction activities. They enable the safe and precise movement of heavy materials, reducing manual labor and increasing operational efficiency.

The shipping and logistics industry plays a critical role in global trade, transportation, and supply chain management. Gantry cranes are vital equipment in ports and container terminals for handling cargo containers from ships to trucks or rail transportation, and vice versa. With the continuous growth of international trade and the increasing size of container ships, there is a rising demand for larger and more efficient gantry cranes capable of handling heavy containers with speed and precision. Gantry cranes enable the loading and unloading of containers from vessels, ensuring smooth operations and minimizing turnaround time. All these factors are projected to boost the growth of the global gantry crane market.

Gantry Crane Market: Restraints

High initial investment and operational costs associated with gantry crane installations.

Gantry cranes are substantial and sophisticated pieces of equipment that require significant investments in terms of procurement, installation, and maintenance. The cost of acquiring a gantry crane, especially larger and more advanced models, can be substantial for businesses and organizations. The initial investment includes the cost of purchasing the gantry crane itself, along with any additional accessories or attachments required for specific lifting tasks. The cost also encompasses the installation process, which may involve site preparation, assembly, and positioning of the crane. Additionally, structural modifications may be needed to support the weight and operational requirements of the gantry crane. This, in turn, is likely to hamper the expansion of the gantry crane industry to a certain extent during projection period.

Gantry Crane Market: Opportunities

Increasing adoption of renewable energy sources

The global shift towards sustainable and clean energy sources has led to a significant expansion of the renewable energy sector. This sector includes the installation and maintenance of wind turbines, solar panels, and other renewable energy infrastructure. Gantry cranes play a vital role in the construction, maintenance, and operation of these renewable energy installations, presenting an opportunity for the gantry crane market. The installation of wind turbines, for example, requires the lifting and positioning of heavy tower sections, rotor blades, and other components. Gantry cranes provide the necessary lifting capacity and reach to handle these large and bulky elements, ensuring safe and efficient installation. As the demand for wind energy continues to grow, the need for gantry cranes to support wind turbine construction and maintenance activities increases.

Gantry Crane Market: Challenges

Rising safety regulations and compliance requirements

Gantry cranes operate in various industrial sectors, including construction, manufacturing, ports, and logistics, where safety is of paramount importance. Governments and regulatory bodies have implemented stringent safety regulations and compliance standards to ensure the safe operation of gantry cranes and prevent accidents or injuries. Complying with these safety regulations and standards can be a significant challenge for manufacturers, suppliers, and end-users of the gantry cranes industry. The design, manufacturing, installation, and operation of gantry cranes must adhere to specific safety guidelines, such as load capacity limits, structural stability, electrical safety, and operator training requirements.

Gantry Crane Market: Segmentation

The global gantry crane industry is segmented based on type, lifting capacity, application, and region.

Based on the type, the global market is bifurcated into single-girder gantry cranes, double-girder gantry cranes, portable gantry cranes, adjustable gantry cranes, and others. The portable gantry cranes segment captures the largest market share during the forecast period. A portable gantry crane is a type of gantry crane that offers flexibility and mobility in lifting operations. It is designed to be easily transported and assembled, making it suitable for various job sites and applications within the gantry crane market. Portable gantry cranes are typically lightweight and feature a modular design, allowing for easy disassembly and reassembly without the need for specialized tools or equipment. They are commonly used in situations where a fixed gantry crane may not be feasible or practical, such as temporary job sites, outdoor locations, or facilities with limited space.

Based on the lifting capacity, the global gantry crane industry is divided into Up to 20 tons, 20-50 tons, 50-100 tons, and above 100 tons. The above 100 tons segment is expected to grow at a significant rate during the forecast period. Gantry cranes in this capacity range are typically utilized in sectors such as heavy manufacturing, shipbuilding, steel mills, construction of large infrastructure projects, and heavy-duty industrial applications. They are specifically designed to handle the unique challenges associated with lifting and moving extremely heavy loads.

Based on the application, the market is segmented into construction, manufacturing, ports and logistics, shipbuilding, mining, and others. The construction segment is expected to capture the largest revenue share during the forecast period. Gantry cranes are used to lift and transport heavy construction materials such as steel beams, precast concrete elements, scaffolding, and construction machinery. These cranes provide the necessary lifting capacity and reach to efficiently move materials within construction sites, improving productivity and reducing manual labor.

Recent Developments:

• In May 2021, JASO Industrial Cranes and ArcelorMittal France announced a strategic partnership. The collaboration aims to design and manufacture an advanced scrap loading crane specifically for ArcelorMittal's plant located in Dunkerque. The crane is set to have an impressive maximum load capacity of 300 tons and a substantial span of 24.4 meters, making it suitable for handling heavy scrap materials efficiently within the plant. This partnership signifies a joint effort to enhance operational capabilities and meet the specific requirements of the steel industry, showcasing the commitment of both companies to innovation and delivering cutting-edge solutions.
• In January 2020, Konecranes successfully finalized its acquisition of MHE-Demag, a significant move that will bolster its market presence and enable it to better serve customers in the Southeast Asia region. With this acquisition, Konecranes aims to expand its operations and strengthen its position as a leading provider of lifting solutions and material handling equipment in Southeast Asia. The integration of MHE-Demag's expertise, customer base, and local market knowledge will further enhance Konecranes' ability to meet the evolving needs and demands of consumers in this strategic region.

Gantry Crane Market: Report Scope

Regional Analysis

North America is expected to dominate the market during the forecast period

The North American region has a mature Gantry Crane market driven by infrastructure development, construction activities, and industrial sectors such as manufacturing, logistics, and ports. The presence of established market players, technological advancements, and strict safety regulations contribute to market growth in this region.

Europe is another significant market for Gantry Cranes, driven by construction and infrastructure projects, especially in countries like Germany, the UK, and France. The region also has a strong presence of key manufacturers and suppliers, as well as stringent safety and quality standards.

Gantry Crane Market: Competitive Analysis

The global gantry crane markets are dominated by players like:

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

The global gantry crane market is segmented as follows:

By Type               

• Single Girder Gantry Crane
• Double Girder Gantry Crane
• Portable Gantry Crane
• Adjustable Gantry Crane
• Others

By Lifting Capacity          

• Up to 20 tons
• 20-50 tons
• 50-100 tons
• Above 100 tons

By Application 

• Construction
• Manufacturing
• Ports and Logistics
• Shipbuilding
• Mining
• Others

End-Use Industry            

• Automotive
• Aerospace
• Oil and Gas
• Energy and Utilities
• Chemicals
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa