Overview of the Market for Overhead Traveling Crane, Hoist, And Monorail System in the USA
In value terms, production of overhead traveling cranes, hoists, and monorail systems dropped modestly to $ in 2019. The total output value increased at an average annual rate of +% over the period from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by % year-to-year. Production peaked at $ in 2018, and then dropped slightly in the following year.
The value of the market for overhead traveling cranes, hoists, and monorail systems in the U.S. expanded remarkably to $ in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the market value increased by % y-o-y. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in the immediate term.