Electric Overhead Travelling (EOT) Cranes: Introduction
- Electric travelling cranes are a common type of overhead crane. Such cranes have a parallel runway with a traveling bridge, which covers the gap. These overhead cranes are extensively utilized in automotive and construction industries where heavy loads move from one place to other. The electric overhead traveling crane can lift heavy loads at high speeds. Furthermore, no obstacles on the factory floor and more control make the electric overhead traveling cranes market highly attractive. EOT cranes are operated through remote, control pendant, or by cabin operator, which is attached to the crane.
Key Drivers of Electric Overhead Travelling (EOT) Cranes Market
- Rise in number of constructions activities across the globe is anticipated to increase the demand for electric overhead traveling cranes. Major construction industries across the globe prefer electric overhead travelling cranes owing to low maintenance cost, reduces labor cost is likely to increase the demand for electric overhead travelling cranes. Furthermore, rise in investment by private companies and governments in infrastructure development projects, which includes road construction, dam, bridges, railway, waterways and many others, are likely to boost the electric overhead travelling (EOT) cranes market across the globe.
- Rise in small- and medium-scale industries across the globe is likely to increase the demand for electric overhead travelling cranes. Rapid expansion of shipping and port industries across the globe is likely to boost the electric overhead travelling cranes market across the globe.
- The COVID-19 virus has caused a majority of businesses across the globe to disintegrate owing to the forced shutdown of production and manufacturing activities. However, major shipping and port industries shut down shipbuilding activities where electric overhead travelling cranes are widely used, which in turn is likely to reduce the demand for EOT cranes. This has led the global economy to contract to its lowest growth rate, which is likely to hamper the electric overhead traveling (EOT) cranes market across the globe.
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Europe & Asia Pacific to Hold Significant Share of Global Electric Overhead Travelling (EOT) Cranes Market
- Europe is projected to account for a major share of the global electric overhead travelling (EOT) cranes market due to a rise in shipping and port building industries across the region. Rise in construction and mining industries across the region is likely to witness major growth for electric overhead travelling (EOT) cranes market during the forecast period.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global electric overhead travelling (EOT) cranes market due to a rise in the number of industries across the region. Rising government expenditure on construction and infrastructure development across the region is anticipated to further boost the electric overhead traveling (EOT) cranes market across the Asia Pacific.
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