Electric Hoist Market Report 2022: Top key Players, Growth Drivers & Regional Statistics To 2025
The Electric Hoist Market is set to grow from its current market value of more than USD 1.9 billion to over USD 3.4 billion. Electric hoists are massively deployed in practically every industry there is – most overtly the ones where heavy lifting is required. In this regard, the automotive sector has emerged as a prime growth avenue for electric hoist industry. For instance, in the automotive industry, low-tonnage pneumatic and electric-powered hoists support a wide variety of tasks in an automotive plant’s main and ancillary assembly lines including engine installation, engine-to-transmission mating, and axle and frame assembly.
Riding on the hallmark of durability and reliability, CM’s latest Lodestar chain hoist is claimed to be a breakthrough in electric hoist industry. Recently launched, this iconic product by Columbus McKinnon Corporation reportedly integrated Lodestar’s flagship industry acing design with Magnetek’s enhanced featured premier VFDs. Endorsed with Magnetek’s advanced IMPULSE® G+ Mini drive, Lodestar VS electric chain hoist apparently harnesses the power of intelligent lifting with an absolute state-of-the-art Hoist Interface Technology, CM HI-Tech™.
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The competitive spectrum of global electric hoist industry boasts of a portfolio of renowned biggies including the likes of Ingersoll-Rand plc, Beta Max Hoist, KITO Group, SWF Krantechnik GmbH, ABUS Kransysteme GmbH, Hitachi Industrial Equipment Systems Co., Ltd, and Konecranes Oyj. Having already substantiated their stance in the lucrative business sphere, it is expected that in the years to come, they would further brainstorm innovative solutions that would bring appreciable monetary returns in the marketplace. In this regard, it is prudent to mention that electric hoist market players pertaining to the rising demand for technological integration, have been bending over backwards on strategic alliances and subsequent product differentiation.
A recent precedent underlining the aforementioned declaration is KITO Corporation’s acquisition of all shares of Erikkila, the Finnish lifting equipment manufacturer, under its fully owned subsidiary, Kito Europe. Reportedly, the Japan based electric hoist industry firm has procured Erikkila’s crane production business in a bid to consolidate its position in Europe market, via Erikkila’s extensive European sales network. Experts’ believe, Erikilla’s lightweight modular cranes in its extensive product range in all likeliness, would enhance Kito’s already established portfolio in electric hoist market.
Region-wise, weight requirements, lift distances, and processes vary of course, but the automotive hoist duty tends to share many similarities. The 0.25 - 5.0 tons and 5.1 - 10.0 tons load range hoists for example, are the most commonly used ones across various industries. Indeed, these chain hoists are forecast to account for the highest share of electric hoist market.
A number of technology and distribution trends across myriad industries are also influencing and redefining the electric hoist market dynamics. The role of distributors in electric hoist industry has now undergone quite some change, as hoist distributors are becoming more knowledgeable, placing themselves on a firmer footing to help end users. This is especially true for the manufacturing sector to make more informed choices with regards to prefabricated concrete elements, trains, heavy components and industrial machinery.
With the advent of advanced technologies, hoists have become more application and tech savvy, thereby leading to the expansion of electric hoist market. Now, it has been observed that more attention is drawn toward increasing the specialization and process specific design of hoists. A better understanding of customer processes and their demands has brought about advancement in electric hoist designs as more and more industries are coming forward with specialized needs. On these grounds, reputed electric hoist industry giants are now bringing new technologies to the mainstream.
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Some Point from Table of Contents:
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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