The global hoists market was valued at US$1.535 billion in
2017 and is projected to reach US$2.198 billion in 2023 growing at a CAGR of
6.17% during the forecast period. Hoisting equipment is used to lift loads with
either link or roller chain or wire rope. These material handling equipment
work in conjunction with overhead or workstation cranes. Hoists are majorly
used in manufacturing, warehousing, and construction among other industries. An
upswing in mining activity and increasing shale gas exploration are augmenting
the demand for lifting equipment in order to ensure a high level of safety and
reliability during the production process. Furthermore, rapid globalization has
resulted in a high volume of exports and imports across countries, thereby
augmenting the demand for hoisting equipment at ports to load/unload heavy or
bulky raw material or finished goods. Due to growing manufacturing industry in
the Asia Pacific region coupled with an improvement in the infrastructure
activity owing to rising population, rising disposable incomes and increasing
demand for residential and commercial buildings in emerging economies such as
India and South Korea, the region is projected to witness the fastest market
growth during the forecast period.
This research study examines the current market trends
related to the demand, supply, and sales, in addition to the recent
developments. Major drivers, restraints, and opportunities have been covered to
provide an exhaustive picture of the market. The analysis presents in-depth
information regarding the development, trends, and industry policies and
regulations implemented in each of the geographical regions. Further, the
overall regulatory framework of the market has been exhaustively covered to
offer stakeholders a better understanding of the key factors affecting the
overall market environment.
Identification of key industry players in the industry and
their revenue contribution to the overall business or relevant segment aligned
to the study has been covered as a part of competitive intelligence done
through extensive secondary research. Various studies and data published by
industry associations, analyst reports, investor presentations, press releases
and journals among others have been taken into consideration while conducting
the secondary research. Both bottom-up and top-down approaches have been
utilized to determine the market size of the overall market and key segments.
The values obtained are correlated with the primary inputs of the key
stakeholders in the global hoists value chain. The last step involves complete
market engineering which includes analyzing the data from different sources and
existing proprietary datasets while using various data triangulation methods
for market breakdown and forecasting.
Market intelligence is presented in the form of analysis,
charts, and graphics to help the clients in gaining faster and efficient
understanding of the market.
Major industry players profiled as part of the report are
Konecranes, Murata Machinery Ltd., ABUS Group, Hitachi Industrial Equipment
Systems Co., Ltd., KITO Corporation, ABB, 3M, and Mitsubishi Electric FA
Industrial Products Corporation among others.
The global hoists market is segmented by type, end-user
industry and geography.
Hand Chain Manual Powered
Pneumatic (Air) Powered
By End-User Industry
Middle East and Africa