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| Market size in 2024 | US$ 2.35 billion |
Forecast Market size by 2030 | US$ 3.18 billion |
|---|---|---|---|
| Growth Rate | CAGR of 5.2% | Number of Pages | 142 Pages |
The global Industrial Hoists market size was valued at US$ 2.35 billion in 2024 and is projected to reach US$ 3.18 billion by 2030, at a CAGR of 5.2% during the forecast period 2024-2030.
The United States Industrial Hoists market size was valued at US$ 528.7 million in 2024 and is projected to reach US$ 687.5 million by 2030, at a CAGR of 4.5% during the forecast period 2024-2030.
Industrial Hoists are mechanical devices used for lifting and lowering loads in industrial settings, including chain hoists, wire rope hoists, and electric hoists, essential for material handling in manufacturing, construction, and logistics operations.
The global Industrial Hoists market is growing steadily, driven by increasing automation in manufacturing, stringent workplace safety regulations, and ongoing investments in infrastructure development. In 2023, global sales of industrial hoists reached approximately 1.2 million units, with Asia-Pacific accounting for 40% of demand, followed closely by North America and Europe. The manufacturing sector remains the largest consumer, representing 45% of demand, followed by construction at 30% and logistics at 20%. The market benefited from the recovery and expansion of industrial activities post-pandemic, leading to a 12% increase in hoist installations for production line upgrades in 2023. Technological advancements have focused on improving safety features, enhancing energy efficiency, and integrating smart controls, with new models offering up to 30% energy savings and advanced load monitoring capabilities compared to 2020 versions. The market is witnessing strong growth in electric chain hoists, increasing at 7% annually, driven by their versatility and lower maintenance requirements. In 2023, the trend towards Industry 4.0 led to a 20% increase in the adoption of IoT-enabled hoists with predictive maintenance capabilities.
The industry faces challenges from the high initial investment cost for advanced hoist systems, but the long-term benefits in operational efficiency and safety continue to drive adoption across industries. Emerging applications in renewable energy installation and maintenance are showing promise, with specialized hoists for wind turbine assembly and servicing growing at 15% CAGR, albeit from a small base of 3% market share. Looking ahead, the market is expected to benefit from innovations in lightweight, high-strength materials, with next-generation hoists offering higher load capacities at reduced weights projected to grow at 10% CAGR through 2030.
Report Overview
This report provides a deep insight into the global Industrial Hoists market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Industrial Hoists Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Industrial Hoists market in any manner.
Global Industrial Hoists Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Columbus McKinnon
Kito
Terex
Konecranes
Ingersoll Rand
TRACTEL
PLANETA
Hitachi
KAWASAKI
J.D. Neuhaus
TOYO
ABUS
Imer International
VERLINDE
DAESAN
ABLE FORGE
Endo Kogyo
Beijing Lieying
Shanghai Yiying
Market Segmentation (by Type)
Manual Hoists
Electric Hoists
Air Hoists
Market Segmentation (by Application)
Automotive
Warehouse
Mining & Excavation
Others
Geographic Segmentation
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Key Benefits of This Market Research:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Industrial Hoists Market
Overview of the regional outlook of the Industrial Hoists Market:
Key Reasons to Buy this Report:
Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
This enables you to anticipate market changes to remain ahead of your competitors
You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
Includes in-depth analysis of the market from various perspectives through Porter
| Report Attributes | Report Details |
|---|---|
| Report Title | Global Industrial Hoists Market Research Report 2024(Status and Outlook) |
| Market size in 2024 | US$ 2.35 billion |
| Forecast Market size by 2030 | US$ 3.18 billion |
| Growth Rate | CAGR of 5.2% |
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year | 2023 |
| Forecast Year | 2031 |
| Number of Pages | 142 Pages |
| Customization Available | Yes, the report can be customized as per your need. |
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