Rigging and Lifting Slings Market To Record an Exponential CAGR By 2020 - 2030

Rigging and Lifting Slings: Introduction

Rigging slings and lifting slings are manufactured with chain, cable, webbing, and rope. It is used with a crane or lift, which helps in the safe movement of large loads.

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Chain slings have the ability to handle hard-to-position loads, odd-shaped, and hot materials. Furthermore, teacup pipe lifting slings are used with sewer pipes and heavy concrete water.
Wire rope slings have utility in different heavy-duty usage in lifting and rigging applications. It can handle bulk objects with stable movement.

Key Drivers of the Global Rigging and Lifting Slings Market

Rigging and lifting slings have high usage in different end-use applications as a result of its ability to resist impact, cuts, and abrasions. The product is adjustable in nature and companies adjust the product specification as per their applications.
Rigging and lifting slings have higher demand in oily or dirty environments. These products do not degrade in terms of quality during environmental changes. This is one of the key factors driving the market growth.
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Rising Demand from Synthetic Slings to Create New Market Opportunities

Technological innovation in synthetic slings has created new opportunity in the rigging and lifting slings market. It has been observed that synthetic slings can handle lower and higher temperature in different industrial applications. For instance, it can be used within temperature range of -40 degree Fahrenheit to +400 degree Fahrenheit.
Trade Barrier in Many Countries to Restrict Market Growth

Different small-scale manufacturers are facing raw material purchase issues as a result of trade barriers in various geographical regions. Strict government regulations and volatile trade policies in different countries are expected to restrict the market growth.

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Asia Pacific the Dominant Market for Rigging and Lifting Slings

Increasing number of small and large scale manufacturers in the Asia Pacific region is one of the key reasons for rigging and lifting slings demand in this region. China and India are key markets. Furthermore, Japan and South Korea also account for significant share of the rigging and lifting slings market.

Key manufacturers are operating their business from Asia Pacific and North America. However, these players have a global reach through their own sales channels or distributors. North America and Europe also have significant market share.
Industrial growth in Brazil is driving the demand for rigging and lifting slings in South America. Increasing foreign direct investment in developing countries such as Brazil, Argentina, Chile, Peru, and Columbia are driving the growth of the market in South America.

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Key Players Operating in the Global Rigging and Lifting Slings Market
Key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small scale players are trying to increase their sales by improving their domestic market share. The global rigging and lifting slings market is fragmented in nature. Companies are working on product innovation and development to increase their customer base. Some of the key players operating in the global rigging and lifting slings market are listed below:

ASC Industries
BENECA
Delta Rigging & Tools
HES NZ
Industrial Rigging & Supply
LIFT-IT Manufacturing
Miami Cordage
Pro Sling & Safety
Safeway Sling
Samson Rope
Sharrow Lifting Products
Stren-Flex
Unilift Equipment

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