The key players operating in the Electric Overhead Traveling (EOT) Cranes market include Dafang Heavy Machine Co.,Ltd., Sumitomo Corp, Spanco, Inc., ABUS Kransysteme GmbH, Columbus McKinnon Corporation, Konecranes Plc, WHCRANE, VERLINDE SA, Gorbel Inc, American Equipment, Uesco Cranes, Safex Industries Limited, Harrington Hoists, Inc., K2 Cranes & Components Pvt. Ltd., and TAWI AB are among the key companies functioning in the electric overhead traveling cranes market. They emphasize on adopting geographical expansion, new and innovative product launch, and joint venture strategies to be competitive in the market.
Growing Trend of Industrialization and Infrastructure Development
Construction industries are expanding globally with the rising number of low-to-medium-priced residential housing projects, commercial infrastructures; and government-backed infrastructure initiatives, including roads, bridges, and highways. The rise in construction activities is mainly driven by rising urbanization, increasing population, and a growing economy. According to the data published by the Word Bank in 2023, ~56% of the total population (or 4.4 billion people) were living in urban areas in 2022, which was 3.5 billion in 2010.
Growing demand for residential and commercial complexes, rising government initiatives, and surging high-rise constructions are attributed to the increasing government focus on infrastructure development. In March 2023, the Canadian Kelowna City Council approved the funding of US$ 90 million for the Kelowna Airport terminal expansion project. In 2023, six new airports were under construction in the US. In 2018, the Civil Aviation Administration of China (CAAC) stated its target to build ~216 new airports by the end of 2035.
Electric Overhead Traveling (EOT) Cranes Market Analysis: Type Overview
Based on type, the electric overhead traveling cranes market is segmented into bridge cranes, gantry cranes, JIB cranes, and others. Cranes are commonly used in the construction, oil & gas, automotive, and shipbuilding industries, among others, to lift and manage heavy materials and objects that cannot be lifted manually. Each type of crane is constructed with distinctive attributes to meet the requirements of the end users. Bridge cranes have proven applications in heavy industries, wherein they offer the most efficient and safest way to lift and move materials. Bridge cranes improve the workflow in warehouses or large-scale industrial facilities, such as coil handling, steel fabrication, railroad manufacturing, defense equipment manufacturing, automotive, mining, and paper milling. Bridge cranes primarily consist of two overhead runways, a crane bridge, a trolley, and a hoist. A standard design primarily features one or two load-bearing girders, which are placed at either the top or bottom of the runway. Electric overhead traveling bridge cranes have major applications across sectors, including automotive, manufacturing, shipping, and oil and gas.
Electric Overhead Traveling (EOT) Cranes Market: Competitive Landscape and Key Developments
Dafang Heavy Machine Co.,Ltd., Sumitomo Corp, Spanco, Inc., ABUS Kransysteme GmbH, Columbus McKinnon Corporation, Konecranes Plc, WHCRANE, VERLINDE SA, Gorbel Inc, American Equipment, Uesco Cranes, Safex Industries Limited, Harrington Hoists, Inc., K2 Cranes & Components Pvt. Ltd., and TAWI AB are among the key electric overhead traveling (EOT) cranes market players profiled during this study. In addition, several other important electric overhead traveling (EOT) cranes market players have been studied and analyzed during the study to get a holistic view of the electric overhead traveling (EOT) cranes market and its ecosystem.
| Year | News | Country |
| May-24 | Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; President and Chief Executive Officer: Masayuki Hyodo) is pleased to announce its subsidiary, Sunstate Equipment Co., LLC (Head Office: Phoenix, Arizona CEO: Chris Watts) (Sunstate), has acquired 100% of the assets and operations of Trench Shore Rentals, Inc. (Head Office: Phoenix, Arizona) (TSR), a leading U.S. trench safety equipment rental company. | Global |