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The value of the electric hoist market may exceed US$5.7 billion, as the market will continue to expand at a compound annual growth rate of 7.3% during the projected period from 2021 to 2028. The rapid development of the construction industry is the main factor driving the growth of the electric hoist market.
Dallas, Texas, October 27, 2021 (Global News Agency)-The substantial growth and rapid development of applications in the automation and transportation industry is driving the development of the global electric hoist market. Electric hoist is a kind of electric equipment that can lift heavy objects, especially suitable for manufacturing, construction and automation industries. The electric hoist makes the lifting of heavy objects and objects easier. The number of electric hoists available on the market. The main advantages of using electric hoists, such as heavy-duty capacity, cost-effectiveness, multi-function, and higher durability, increase its demand in the above-mentioned fields. Due to its high capacity and efficiency, the demand for electric hoists in the transportation sector has also greatly increased.
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Other factors, such as the introduction of innovative hoists by automation and construction companies to optimize their work, and newly launched products embedded in the S series and m series have promoted the growth of the global electric hoist market. However, broken or damaged wire rope gearboxes, unskilled workers, and wire rope test failures after manufacturing lead to operational risks that may hinder the growth of the global electric hoist market. In addition, advances in testing procedures, technical assistance for operators, high-strength electric hoists and high-quality ropes, and gear boxes provided by service providers are expected to become growth opportunities for the global electric hoist market.
Electric hoist market by player
Harrington Hoists, Inc. KITO CORPORATION Hitachi Industrial Equipment Systems Co. Columbus McKinnon Corporation SWF Krantechnik Reva Industries Ltd
Electric hoist market by type
Electric chain hoist Electric chain hoist
Electric hoist market by application
Building, Automobile, Energy, Aerospace and Transportation
An electric equipment used to lift, move or even lower heavy and huge objects is called an electric hoist. For example, hand chain hoists, electric wire rope hoists, electric chain hoists for lifting or lowering materials. An electric hoist converts electrical energy into mechanical energy, which is then used to move or lower objects, and can also be classified as an electric hoist. Electric hoists are also used for lifting and lowering loads from one floor to another, cranes, forklifts, and maintenance of high-rise buildings.
The market is made up of traditional and newcomers. Some of the famous companies leading the global electric hoist market are Reva Industries, Hitachi Industrial Equipment Systems, Columbus McKinnon Corporation, KITO CORPORATION, Harrington Hoists and SWF Krantechnik, as well as all other well-known and emerging companies worldwide. These companies control the largest percentile of the global electric hoist market.
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They provide high-quality electric hoists with sturdy gearboxes and ropes in various shapes and configurations. In addition, leading companies are seeking strategic initiatives such as mergers, acquisitions, and partnerships to expand their geographic footprint and stay ahead of the competition.
According to various applications, the market is divided into energy, construction, manufacturing, automotive, aerospace and other fields. The manufacturing department has the largest share of the global electric hoist market. The electric hoist in the manufacturing is used for lifting general equipment, because the electric hoist has high performance and high reliability.
North America has the highest market share in the global electric hoist market and is expected to achieve the largest growth in the forecast year of 2021-2028. The increase in manufacturing and construction activities, the rapid growth of renovation and construction activities, and the development and planning of new projects in the region have stimulated the growth of the global electric hoist market. In addition, the Asia-Pacific region and Europe have gathered a good market share and are expected to achieve good market growth. Group construction and manufacturing activities, rapid development in developing countries and new project plans have increased the revenue share of the Asia-Pacific region and Europe in the growth of the global electric hoist market. In addition, advances in testing procedures, technical support for operators, high-strength electric hoists with high-quality ropes, and gearboxes provided by service providers are some of the other reasons for the growth in the region.
1. Introduction 1.1. Introduction 1.2. Market Definition and Scope 1.3. The unit, currency, conversion and year considered 1.4. Main stakeholders 1.5. Key question to answer
2. Research method 2.1. Introduction 2.2. Data capture source 2.3. The market size is estimated at 2.4. Market forecast 2.5. Data triangulation 2.6. Assumptions and limitations 3. Market outlook 3.1. Introduction 3.2. Market dynamics 3.2.1. Drivers 3.2.2. Limits 3.2.3. Opportunities 3.2.4. Challenges 3.3. Porter's five forces analysis 3.4. PEST analysis 4. Electric hoist market by type, 2018-2028 (billion dollars) 4.1. 4.2 Electric chain hoist electric hoist 5. Application of electric hoist market, 2018-2028 (billion dollars) 5.1. Aerospace 5.2. Car 5.3. Transport 5.4. Construction 5.5. Energy 5.6. Other...continue
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