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Electric Hoist Market Region Growth Analysis to 2025 | Ingersoll-Rand plc, Beta Max Hoist, KITO Group, SWF Krantechnik GmbH, ABUS Kransysteme GmbH

11-11-2019 05:32 PM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights Inc.

Electric Hoist Market

Electric Hoist Market

The Global Electric Hoist Market study focuses major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. It provides information on trends and developments, and focuses on markets and materials, capacities and technologies, and on the changing structure.

Electric hoists are massively deployed in practically every industry there is – most overtly the ones where heavy lifting is required. In this regard, the automotive sector has emerged as a prime growth avenue for electric hoist market. For instance, in the automotive industry, low-tonnage pneumatic and electric-powered hoists support a wide variety of tasks in an automotive plant’s main and ancillary assembly lines including engine installation, engine-to-transmission mating, and axle and frame assembly. Region-wise, weight requirements, lift distances, and processes vary of course, but the automotive hoist duty tends to share many similarities. The 0.25 - 5.0 tons and 5.1 - 10.0 tons load range hoists for example, are the most commonly used ones across various industries. Indeed, these chain hoists are forecast to account for the highest share of electric hoist market.

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The significance of hoists in the U.S. automotive sector also came into the spotlight when Trump urged automakers to shift their production facilities from Mexico back to the U.S. Considering that a Mexican auto industry worker cost as much in a day as a U.S. auto worker cost in an hour, the automotive domain was riled with the fear of a decline in profits as rising labor costs were supposed cause a decline in the nation’s profitability. However, it was observed that an effective automotive production plant with electric hoists, cranes and robots can majorly cut the cost on labor while adding to the precision of any method. This is a classic instance validating the fact that automotive plant upgradations are likely to add a profitable margin to electric hoist industry.

A number of technology and distribution trends across myriad industries are also influencing and redefining the electric hoist market dynamics. The role of distributors in electric hoist industry has now undergone quite some change, as hoist distributors are becoming more knowledgeable, placing themselves on a firmer footing to help end users. This is especially true for the manufacturing sector to make more informed choices with regards to prefabricated concrete elements, trains, heavy components and industrial machinery.

Electric hoist market, by end-user
1. Aerospace
2. Automotive & transportation
3. Construction
4. Energy
5. Marine
6. Others

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Electric hoist market growth is highly ancillary to product advancements. Not to mention, skilled operators and qualified maintenance staffs would further have a substantially impact on the profitability quotient. With changing technologies and newer breakthroughs in lifting ecosystem, electric hoist is slated to exceed a valuation of USD 3.4 billion by 2025.

Competitive spectrum of global electric hoist market boasts of a portfolio of renowned biggies including the likes of Ingersoll-Rand plc, Beta Max Hoist, KITO Group, SWF Krantechnik GmbH, ABUS Kransysteme GmbH, Hitachi Industrial Equipment Systems Co., Ltd, and Konecranes Oyj. Having already substantiated their stance in the lucrative business sphere, it is expected that in the years to come, they would further brainstorm innovative solutions that would bring appreciable monetary returns in the marketplace. In this regard, it is prudent to mention that electric hoist market players pertaining to the rising demand for technological integration, have been bending over backwards on strategic alliances and subsequent product differentiation.

A recent precedent underlining the aforementioned declaration is KITO Corporation’s acquisition of all shares of Erikkila, the Finnish lifting equipment manufacturer, under its fully owned subsidiary, Kito Europe. Reportedly, the Japan based electric hoist industry firm has procured Erikkila’s crane production business in a bid to consolidate its position in Europe market, via Erikkila’s extensive European sales network. Experts’ believe, Erikilla’s lightweight modular cranes in its extensive product range in all likeliness, would enhance Kito’s already established portfolio in electric hoist market.

Related News: http://www.globenewswire.com/news-release/2018/06/06/1517461/0/en/Electric-Hoist-Market-to-surpass-3-4bn-by-2025-Global-Market-Insights-Inc.html

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com/

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