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Overhead Crane Manufacturing in the US - Industry Market Research Report

Overhead Crane Manufacturing in the US - Industry Market Research Report

  • January 2019
  • 34 pages
  • ID: 5065192
  • Format: PDF
  • By Ibisworld

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Heads-up: Revenue decreased as industrial markets slowed and downstream demand faltered

Abstract

Overhead Crane Manufacturing
Over the past five years, the Overhead Crane Manufacturing industry has experienced significant volatility. At the outset of the five-year period, industry revenue increased as US manufacturing and freight volumes improved. However, downstream demand faltered as industrial markets slowed, resulting in revenue declines over the five years to 2018. Manufacturing capacity utilization, which measures the ratio of actual manufacturing output to potential full-capacity output, has yet to recover to prerecession levels. As a result, even as industrial output expanded, manufacturers had idle capacity to use rather than investing in new capital equipment. Additionally, falling commodity prices and a slowdown in emerging market economies caused industrial output to slow, and in many cases decline. Moreover, freight and trade volumes have also suffered due to their reliance on commodities. Consequently, demand for overhead cranes fell rapidly. Over the five years to 2023, industry revenue is forecast to increase due to continued economic growth and increasing manufacturing capacity utilization.

This industry manufactures overhead cranes, gantry cranes and bridge cranes. 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.

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