A recent research study predicts that the market will grow steadily between 2021 and 2031. Crane motor sales are anticipated to grow at a CAGR of 5 to 6% from 2021 to 2031. In the short term, demand for crane motors will stabilise, and long-term growth prospects appear bright. There will soon be significant opportunities due to increased demand from the growing construction industry.
The demand for crane systems has significantly increased as a result of the steadily expanding industrial and construction projects, and it is anticipated that this growth will continue over the next ten years. promoting the use of crane motors over the anticipated time period.
For both underground and underwater operations, crane motors are widely used in the mining, oil, and gas, and construction industries. It is anticipated that ongoing developments in the mining and oil and gas sectors will favourably affect market expansion.
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The majority of the time, crane systems are exposed to intense heat while operating in continuous cycles. Additionally, the motors’ core losses result in higher operating temperatures, which shortens their useful lives. This is the primary obstacle to the market’s expansion.
Diamond-shaped coils, which offer more efficient turns than conventional round-end turns, are one example of the high-efficiency products on which manufacturers are concentrating their efforts (mush wound). Additionally, market expansion is anticipated to benefit from research and development efforts to implement smart automation for real-time monitoring and control of crane motors.
Sales to Recover Sharply post the Containment of Pandemic
With the looming effect of COVID-19 pandemic across the globe and with imposed restrictions on civic movement, the industrial sector and commercial business operations rate have been affected and caused complete halt in the manufacturing activities and restrictions in the supply chains.
Furthermore, the shutdown of construction activities across the globe resulted in significant decline in the short term demand. However, as the economic activities resumes the crane motors market is expected to recover sharply post the containment of pandemic.
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North America Crane Motors Market Overview
North America is expected to hold leading share in the crane motors market on the back of substantial increase in mining exploration activities in the region. It is also expected to witness significant growth rate during the forecast period.
Asia Pacific Market Growth Outlook
Asia Pacific is expected to witness a robust growth rate over the coming years. The growth is attributable to the prevalence of large number of manufacturers in the region.
Moreover the leading global market players are also poised for shifting their manufacturing facilities in the countries such as China, India and ASEAN etc. in order to gain benefits of cheap labors and availability of raw materials in the region. This is further expected to ascend the growth of the market in the region.
Europe Market Positioning
Europe is also expected to hold significant share in the global crane motors market throughout the forecast period owing to the substantial increase in the industrial activities in marine, oil & gas domains from prominent countries such as Germany, U.K., Italy and Russia, etc.
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Who are the Key Manufacturers and Suppliers of Crane Motors
Some of the leading manufacturers and suppliers of crane motors include
- Toshiba Corporation
- ABB Ltd
- Siemens AG
- WEG SA
- Regal Beloit
- Hyosung Ltd
- Nidec Corporation
- TECO- Westinghouse
- Kollmorgen Inc
- Lafert Group
- Brook Crompton
- Wolong Inc
- Jiamusi Electric Machine among others.
Many leading manufacturers and suppliers have longstanding contracts with end-users to supply crane motors. Further, manufacturers are focused on establishing their manufacturing facilities in the countries from Asia Pacific such as India, China, Thailand, and Taiwan to cater increasing demand in the region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Key Segments
By Motor Type:
- DC Motors
- AC motors
By Safety Type:
- EXd Type
- Increased-Safety Type
- Others
By Crane Type:
- Single Girder Overhead
- Double Girder Overhead
- Workstation
- Others
By End Use Industry:
- Construction
- Oil & Gas
- Mining
- Chemicals & Petrochemicals
- Industrial Processes
- Others
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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