Asia Pacific electric hoist market would is forecast to exceed USD 950 million in terms of annual valuation by the end of 2025, with a 7.5% CAGR over the projected timeframe. North America electric hoist industry size is estimated to be the second highest in terms of revenue collection.
Electric hoist is an integral part of material handling operations as they efficiently lift heavy-weight materials with ease. The product is poised to witness major deployment in the coming years owing to extensive transportation and material handling applications in manufacturing and construction sector. Chain and wire hoists are the two types of products comprising the industry offerings.
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Electric Hoist Market from wire hoist segment is estimated to register growth rate of 7.3%, and account for annual revenue generation of over USD 2.5 billion through 2025. Electric wire hoists are gaining major attention from owing to range of benefits including several load capacities, as well as the ability to customize the hoists as per the load capacities. Advantageous product attributes are the key factors contributing towards increased global demand for the products.
The demand for electric wire hoists with a load range capacity of 0.5 - 10 tons is poised to grow at 7.3%, boasting revenue of over USD 1 billion in terms of annual valuation till 2025. Electric chain hoists having a load capacity range between 5.1 - 10 ton are expected to experience major deployment, accounting for revenue generation of more than USD 200 million by the end of 2025.
In both developed and developing countries, construction sector is the key end-user of electric hoists. Growing government investments towards infrastructural development and refurbishment of existing infrastructure is likely to positively impact electric hoist market growth. Estimates suggests that electric hoist industry may surpass USD 3.2 billion in terms of annual valuation by 2025.
Prominent players contributing towards the global electric hoist market share are Columbus McKinnon, Konecranes, Hitachi Industrial, Ace Industries, RAM, Jiangsu Jiali Hoisting Machinery Manufacturing, Harrington Hoist, Tiger Lifting, ABUS Kransysteme, Milwaukee, Coffing Hoist, Budgit Hoist, Toronto Electric, JET, Granada and Demag, among others.
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Data Tables:
TABLE 1 Global electric hoist industry 360° synopsis, 2014 – 2025
TABLE 2 Global electric hoist market, (Units) (USD Million), 2014 – 2025
TABLE 3 Global electric chain hoist market volume, by load bearing capacity, (Units), 2014 – 2025
TABLE 4 Global electric chain hoist market revenue, by load bearing capacity, (USD Million), 2014 – 2025
TABLE 5 Global electric wire hoist market volume, by load bearing capacity, (Units), 2014 – 2025
TABLE 6 Global electric wire hoist market revenue, by load bearing capacity, (USD Million), 2014 – 2025
TABLE 7 Global electric chain hoist market volume, by end-user, (Units), 2014 – 2025
TABLE 8 Global electric chain hoist market revenue, by end-user, (USD Million), 2014 – 2025
TABLE 9 Global electric wire hoist market volume, by end-user, (Units), 2014 – 2025
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