Press release
Future Growth of Electric Hoist Market Size Global Analysis by Key Players - Konecranes, Columbus McKinnon, Hitachi Industrial, RAM, Ace Industries, Jiangsu Jiali Hoisting Machinery Manufacturing, Tiger Lifting, Harrington Hoist, ABUS Kransysteme, Coffing
Electric Hoist Market will exceed USD 3.2 billion. The primary restraint of the electric hoist market is the lack of skilled manpower to operate both cranes and hoists. The demand for skilled operators has been significantly increasing over the years. Most end-users may witness a scarcity of qualified maintenance staff and engineers to properly maintain and support the material handling equipment.
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This report focuses on the top Manufacturers and players in global market are given bellow:-
Konecranes, Columbus McKinnon, Hitachi Industrial, RAM, Ace Industries, Jiangsu Jiali Hoisting Machinery Manufacturing, Tiger Lifting, Harrington Hoist, ABUS Kransysteme, Coffing Hoist, Milwaukee, Budgit Hoist, JET, Toronto Electric, Demag, and Granada among others.
Electric Hoist Market Size By Type (Chain, Wire)
By Load Bearing Capacity (Chain [0.25 - 5.0 Tons, 5.1 - 10.0 Tons, 10.1 - 15.0 Tons, 15.1 - 20.0 Tons, 20.0 - 32.0 Tons], Wire [0.5 - 10.0 Tons, 10.0 - 15.0 Tons, 15.0 - 20.0 Tons])
By End-User (Aerospace, Automotive & Transportation, Construction, Energy, Marine), Industry Analysis Report
Regional Outlook (U.S., Canada, Germany, France, UK, Spain, Russia, China, Japan, India, South Korea, Malaysia, Mexico, Argentina, Brazil, Colombia, Saudi Arabia, UAE, South Africa, Oman, Qatar, Kuwait)
Electric wire hoist market is expected to reach more than USD 2.5 billion till 2025, increasing over CAGR more than 7.3% in the entire forecast timeframe. Wire range of load capacities, and the ability to customize the hoists according to their load capacities, are the major factors accounting to the increase of global electric wire hoist market by end of forecast span.
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Hoist finds major applications in material handle operations. It can be used to shift heavy-weight materials easily. The electric hoists? demand will grow significantly over the projected timeframe, owing to massive material handling and transportation applications in construction and manufacturing industry. The demand for electric hoists is majorly from the construction end-user, primarily in both the developing and developed nations. The lack of expertise in handling overhead cranes and its attached hoists acts as an important factor, restricting the market growth in the projected timespan.
Electric chain hoists with load capacity in between 5.1 ? 10.0 ton capacity will witness a significant market growth and might cross over USD 200.0 million till 2025. This will hold a significant part of global chain hoist market till 2025. Electric wire hoists of load range between 0.5 ? 10.0 tons are projected to reach over USD 1.0 billion till the end of 2025, growing at CAGR higher over 7.3%.
Global electric hoist market for aerospace had key share of electric hoist market by end of 2017, and would reach USD 860.0 million till 2025, rising at CAGR more than 7.7% by end of forecast timespan.
Asia Pacific electric hoist market would reach more than USD 950.0 million till close of 2025, increasing at CAGR more than 7.5%. The North America electric hoist market is predicted to be second-highest market in market revenue, which would increase at CAGR of 7.4% by end of projected timeframe.
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