Over the past five years, the Overhead Crane Manufacturing industry began to slowly lift itself out of the recession. During the recession, declining industrial activity and freight volumes caused demand for industry products to fall. However, industry growth is anticipated to accelerate over the next five years. Increased industrial, trade and transportation activity amid continued economic growth will lead to demand improvements for industry products. Industrial capacity utilization is projected to exceed prerecession levels, making it more likely that manufacturers will have to expand capacity and purchase new overhead cranes. East Coast ports are also anticipated to expand and buy more cranes in order to meet increased trade traffic upon the completion of the Panama Canal expansion. However, increasing interest rates will make it more expensive to finance the purchase of industry products, tempering demand.
This industry manufactures overhead cranes, gantry cranes and bridge. Overhead cranes include a hook-and-line mechanism that runs along a horizontal beam, which runs along two widely separated rails.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.