Global Electric Hoist Market Size was valued nearly USD 1.31 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.73.xx% during the forecast period, i.e. 2017-2025. An electric hoist is a device which is used to lift or lower the load, comprising rope or chain around drum lift or wheel along with a hook which is attached with payload. It can lift and relocate heavy weights easily, thereby enables the operators to lift the weight comfortably with least damages. It is an efficient way to lift the load which could results in lowering down the operational time and reduces cost of labor, owing to which the electric hoist market is anticipated to grow significantly over the projected period.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global electric hoist market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global electric hoist market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Market Dynamics

Electric hoist market is majorly driven by the technological advancement in the electric hoist by developing advanced safety features such as limit switch, emergency stop function otherwise automatic stop function, advanced insulation and overload tripping among others. Companies such as KITO, Konecranes, Hitachi and several other are offering the electric hoist with reliable safety features. Furthermore, electric hoist manufacturers are also coming up the IoT driven smart electric hoist. However, the adoption of this technology is comparatively low in the global market.

By Hoist Type Insights: Wire rope hoist is anticipated to hold largest share in the global electric hoist market, primarily owing to the fast lifting speed coupled with its variability in terms of load capacity of the load. This type of hoist is majorly used for lifting object at 10 tons and above, particularly applicable at construction and mining sites to lift heavy payloads. Companies offering robust electric wire rope hoist includes TorontoElectric, Max Industries and Hitachi among others.

End-use Industry Analysis: Electric hoist market for construction industry is expected to have prime position in the global market, followed by automotive, majorly owing to the rising construction activities and new techniques in the global market such as prefabrications. Prefabrications construction comprises the construction of components off site, thereafter, taken to onsite and are assembled using hoist and cranes such as assembling of internal and external walls and window fixtures. The rise of prefabrications in the construction is anticipated to boost the global hoist market in the coming years owing to its numerous benefits such as it keeps cost of building lower than the traditional construction, lowering down the onsite damage and injuries, helps in speeding up commercial construction and several others.

Regional Analysis

The global electric hoist market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.  In the electric hoist market, Asia Pacific region is expected to have fastest growth rate over the forecast period due to rising construction industry in the emerging nations such as China and India, rising cost of labor and higher time consumption in the manual procedures in the market. Furthermore, the rising demand for the huge production output without affecting quality is also responsible for the growth of the global electric hoist market. Leading companies providing electric hoist in Asia Pacific includes Consolidated Hoist Private Ltd., Hindustan Hoist and Crane Industries, Vanbon Hoist, Shanghai Yiying Crane Machinery Co., Ltd. Liftking and several others. North America and Europe held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years.

Global Electric Hoist Market Size, Share Analysis By Region 2017

Global Electric Hoist Market Study Objective

1. To forecast the market size of electric hoist market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of electric hoist market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of electric hoist market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of electric hoist market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the electric hoist market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

The leading players in the global electric hoist market include Hitachi Industrial Equipment Systems Co., Ltd., Beta Max Hoist., Terex Corporation, SIGMA Hoist Company Pvt.Ltd., KITO Group, ABUS Kransysteme GmbH, Harrington Hoists, Inc., Ingersoll Rand plc., Liftking and SWF Krantechnik GmbH and several others.

To showcase the presence at the global level, numerous companies opts strategic activities such as mergers & acquisitions, product launch, collaborations & partnerships and others. For instance, in 2016, Liftking acquired failed manufacturer Omega Lift IP and its associated designs for multiloader, Omega lift all terrain forklifts and ARM telehandlers.

Global Electric Hoist Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.