Hoist Sling Chains Assemblies Market 2019 – 2025 | Segmentation and Leading Players: pewag, Gunnebo, Juli Sling Co., Ltd., Peerless Industrial Group, Inc.

Intensifying industrialization in the emerging nations will drive sling chains assemblies demand in general manufacturing. This area of application is set to have the highest growth with CAGR about 10% in hoist sling chains assemblies market during the forecast period.

Asia Pacific will lead the overall hoist lifting chains market by 2025 with a share near enough 30%. The robust growth in regional construction sector involving multi storied infrastructure will result in a growing demand for hoist lifting chains assemblies demand in Asia Pacific by 2025.

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Chain slings are exceptionally durable as they resist impacts, abrasions, UV radiation, and chemicals and have been an innovative solution for the lifting industry. The oil & gas sector will contribute significantly to the lifting chains demand by 2025. Trends including: the rise in the foreign wages in China, market volatility risks, increasing transport costs will lead to the manufacturing regionalization and reshoring. With North American businesses preferring a nearshore or onshore model to an offshore model, demand for hoist sling chains assemblies will be encouraged during the forecast period.

Last decade observed a remarkable escalation in hoist sling chains assemblies demand. Sling chains will witness significant demand in future years for their key role in various industrial applications including assembly, positioning, staging, transportation, storage and warehousing. As per the projections presented by United Nations publication, the cities having 500,000 residents and more will rise by about 80% in Africa during the span 2016 - 2030.

Hoist Sling Chains Assemblies Market by Components by Load Bearing Capacity:

• Master links:-
• Below 5.0 tons
• 5.1 – 10.0 tons
• 10.1 – 20.0 tons
• Above 20.0 tons

• Connecting links:-
• Below 5.0 tons
• 5.1 – 10.0 tons
• 10.1 – 20.0 tons
• Above 20.0 tons

• Hooks:-
• Below 5.0 tons
• 5.1 – 10.0 tons
• 10.1 – 20.0 tons
• Above 20.0 tons

Hoist Sling Chains Assemblies Market by End-user:
• Oil & gas
• Energy
• Metal Processing
• Transportation
• General manufacturing
• Construction
• Others

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Type V hoist sling chains assemblies will observe growth with CAGR above 9% during the forecast period. Type V sling chains feature approximately 25% high capacity rating as compared to type T. A rising manufacturers preference to type V chains will be notable by 2025, in accordance to the advancements of processing techniques.

Sling hooks, foundry hooks, grab hooks, self-locking hooks, involving an eye or a clevis profile, have been the common hook designs in lifting chains market. Hooks featured with 10.1 20.0 tons capacity, will have a market share beyond 20% in the forecast span. In case of the master links, the overall lifting chains industry shall witness growth close to 9.3% by 2025. A premeditated pulling point is achieved with master links usage, and the sling chain assembly life is extended by avoiding the chain damage.

Leading hoist sling chain manufacturers are:

• pewag
• Gunnebo
• Campbell
• Retezarna A.S.
• RUD
• McKinnon Chain

Industry players have been investing substantially in product development to strengthen their industry foothold. For instance, Gunnebo introduced new grab hook design having a locking pin in January 2018, featuring: lightweight, high strength, easy handling along with risk minimization.

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