What is Global Electric Hoist Market?
The Global Electric Hoist Market is a comprehensive study of the various aspects of the electric hoist industry on a global scale. Electric hoists are mechanical devices used to lift heavy loads with the help of electricity. They are widely used in various industries such as construction, manufacturing, and mining. The market study encompasses the analysis of the different types of electric hoists available, their applications, and the key players in the market. The study also provides insights into the market trends, growth factors, challenges, opportunities, and competitive landscape. The Global Electric Hoist Market was valued at US$ 1693 million in 2022 and is expected to reach US$ 2265.8 million by 2029, growing at a CAGR of 4.2% during the forecast period 2023-2029.
Electric Chain Hoist, Electric Wire Hoist, Other Electric Hoist in the Global Electric Hoist Market:
The Global Electric Hoist Market is segmented based on the type of hoist into Electric Chain Hoist, Electric Wire Hoist, and Other Electric Hoist. The Electric Chain Hoist is the most popular type, accounting for about 70% of the market share. These hoists are preferred for their durability, efficiency, and ability to lift heavy loads. The Electric Wire Hoist, on the other hand, is used for lifting lighter loads and is known for its speed and flexibility. The Other Electric Hoist category includes various specialized hoists designed for specific applications. The top five manufacturers in the Global Electric Hoist Market hold nearly 50% of the market share, indicating a high level of market concentration.
Factories, Construction Sites, Marinas and Shipyards, Mining and Excavating Operation, Warehouse, Others in the Global Electric Hoist Market:
The Global Electric Hoist Market finds its applications in various areas such as Factories, Construction Sites, Marinas and Shipyards, Mining and Excavating Operation, Warehouse, and Others. In factories, electric hoists are used for lifting and moving heavy machinery and equipment. In construction sites, they are used for lifting building materials. Marinas and shipyards use electric hoists for lifting boats and other heavy objects. In mining and excavating operations, electric hoists are used for lifting ores and other materials. Warehouses use electric hoists for lifting and moving heavy goods. Other applications include use in power plants, automotive industry, and waste management facilities.
Global Electric Hoist Market Outlook:
The Global Electric Hoist Market outlook highlights the growth and trends in the market. The market was valued at US$ 1693 million in 2022 and is projected to reach US$ 2265.8 million by 2029, growing at a CAGR of 4.2% during the forecast period 2023-2029. The Electric Chain Hoist is the largest product segment, accounting for about 70% of the market share. The top five manufacturers in the market hold nearly 50% of the market share, indicating a high level of market concentration. The market is expected to witness steady growth in the coming years, driven by the increasing demand for efficient and safe lifting equipment in various industries.
| Report Metric | Details |
| Report Name | Electric Hoist Market |
| Accounted market size in 2023 | US$ 1770.2 million |
| Forecasted market size in 2029 | US$ 2265.8 million |
| CAGR | 4.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Kito, Terex, Hitachi Industrial, Columbus McKinnon, Konecranes, Street Crane, Ingersoll Rand, ABUS, Imer International, TOYO, Gorbel, DAESAN, Milwaukee Tool, VERLINDE, LIFTKET, Li An Machinery, DL Heavy Industry, Nanyang Kairui, Jiangsu Jiali, Niukelun, Chi Zong Machine, TBM, Chongqing Shanyan, Cheng Day, Shanghai Yiying, Beijing Lingying, Shanghai Shuangdiao |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
