Electric Hoist Market Size to Hit USD 1.9 Billion by 2031, Growing at 5.8% CAGR Amid Rising Demand Across Key Industries: Transparency Market Research Inc.
Oil & gas and mining industries rely on electric hoists for lifting and transporting heavy equipment efficiently.
Wilmington, Delaware, United States, Transparency Market Research, Inc., Nov. 05, 2024 (GLOBE NEWSWIRE) — The global electric hoist market (سوق الرافعات الكهربائية) is estimated to flourish at a CAGR of 5.8% from 2023 to 2031. Transparency Market Research projects that the overall sales revenue for electric hoist is estimated to
Global Electric Hoist Market: Regional Profile
- North America leads the market due to extensive industrialization and infrastructure development. Key players like Columbus McKinnon Corporation and Harrington Hoists, Inc. dominate, offering advanced electric hoists catering to manufacturing, construction, and automotive sectors. Stringent safety regulations further drive market growth, ensuring the adoption of high-quality hoisting solutions.
- In Europe, a robust manufacturing sector and emphasis on automation fuel the demand for electric hoists. Street Crane Company Limited and Konecranes hold prominence, delivering innovative lifting solutions, focusing on efficiency and safety in various industries.
- The Asia Pacific emerges as a rapidly expanding market, driven by flourishing manufacturing hubs in countries like China and India. Players such as GIS AG and VERLINDE capitalize on this growth, providing cost-effective electric hoists tailored to diverse applications. As industrial activities surge, the region remains pivotal in shaping the global Electric Hoist Market through innovation and market expansion.
Product Portfolio
- SStreet Crane Company Limited offers a comprehensive product portfolio specializing in crane systems and lifting solutions. Their range includes overhead cranes, hoists, and components, catering to diverse industrial sectors, emphasizing quality, innovation, and tailored lifting solutions for varying applications and industries.
- Ingersoll Rand showcases a diverse product line comprising air compressors, power tools, and material handling equipment. Their offerings cater to industrial, commercial, and residential sectors, focusing on efficiency, reliability, and sustainability in providing innovative solutions for diverse applications.
- Konecranes presents an extensive portfolio of lifting equipment and services, encompassing overhead cranes, port solutions, and automated material handling systems. Their offerings cater to various industries, prioritizing safety, efficiency, and advanced technology in delivering comprehensive lifting solutions and maintenance services.
Electric Hoist Market: Key Segments
By Hoist Rope Type
- Chain hoist
- Wire or Rope Hoist
By Capacity
- Up to 1000 lbs
- 1000 lbs to 2000 lbs
- 2000 lbs to 4000 lbs
- 4000 lbs to 6000 lbs
- 6000 lbs to 8000 lbs
- 8000 lbs to 10000 lbs
- 10000 lbs to 12000 lbs
- 12000 lbs to 16000 lbs
- Above 16000 lbs
By End-Use Industry
- Automotive & Railway
- Aerospace & Defense
- Transportation & Logistics
- Construction
- Shipping & Marine
- Material Handling
- Agriculture & Forestry
- Mining
- Oil & Gas
- Others (Entertainment, Waste Management, etc.)
By Application
- Commercial Recovery
- Cranes
- Fixed Cranes
- Mobile Cranes
- Workboats
- Utility
- Others (Military recovery, Stage maker, etc.)
By Distribution Channel
- Direct Sales
- Indirect Sales
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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