Hoist Controller Market 2022: Industry Analysis, Regional Growth and Forecast To 2025
Hoist Controller Market is set to observe growth rate of over 3% till 2025. The robustly increasing demand for material handling equipment is considerably stimulating hoist controller industry in recent times. The rapid industrialization across the globe is turning out to be beneficial for the hoist controller manufacturers, owing to the surging deployment of material handling equipment for boosting operational speed and efficiency. In applications that involve performing critical and heavy tasks where human intervention seems next to impossible, hoist controllers naturally find prominent deployment, catalyzing the overall hoist controller industry expansion.
The growing emergence of smart technologies and automation across various industrial sectors has brought about considerable modernization at the workplace. The incorporation of different types of sensors, positioning systems, and software in the currently manufactured devices has been helping giants achieve a dominant position in hoist controller industry. A few years before, crane maintenance and monitoring was highly dependent on manual labor, resulting in downtime risks and high maintenance cost. However, the implementation of smart and next-generation features in hoisting and crane devices has proved to be beneficial for the customers, enabling them to perform online monitoring task to check the status of a crane.
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In addition to the cement sector, another major end-use vertical gaining significant momentum in the market is military. In a recent turn of events, Bluedrop, an acclaimed name in the hoist controller industry made it to the headlines with its launch of virtual reality hoist stimulator. The USD 1.1 million stimulator setting a groundbreaking example of technology interventions in hoist controller market, is deemed to enable training in an affordable, safer, and eco-friendly manner. Reported to be delivered to 12 Wing Shearwater next month, this environmentally viable rescue training simulator is likely to mark its footprint in the military applications of hoist controller industry.
With the development of smart products, companies are trying to change the business scenario in hoist controller market. The continuous engineering innovations and upcoming technology trends in hoisting devices have been setting a new benchmark for the end-users of this market. The increasing automation in crane technologies is also likely to emerge as another possible trend across the construction, automotive, and metal processing industries, owing to the continuously surging labor costs. In this regard, the growing demand for crane services has encouraged leading participants in hoist controller industry to capture more business space with a widespread product portfolio.
It is prudent to mention that the emerging economies are gaining commendable traction in context of the demand contribution of these controllers. The chief attributing factor is the rapid industrialization in these belts. Endorsed by the rising economic portfolio, APAC stands as one of the strongest avenues for hoist controller market expansion, with an anticipated market share of USD 32 million by 2025. China, India, and Japan are touted to be the chief revenue pockets for the APAC belt, with the expanding construction sector bagging the growth credit.
As per reliable estimates, China construction industry size in 2017 stood at more than 25 trillion yuan, which indeed resulted in an extensive demand for hoist controllers from the cement sector. In fact, the cement sector procured a massive chunk of the overall end-use landscape of this fraternity in 2017. By 2025, the overall handheld hoist controller market size from cement applications is projected to surpass USD 19 million by 2025.
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Some Point from Table of Contents:
Data Tables:
TABLE 1 Global hoist controller industry 360° synopsis, 2014 – 2025
TABLE 2 Global hoist controller market, (Units) (USD Million), 2014 – 2025
TABLE 3 Global hoist controller industry volume, by hoist type, (Units), 2014 – 2025
TABLE 4 Global hoist controller industry revenue, by hoist type, (USD Million), 2014 – 2025
TABLE 5 Global handheld hoist controller industry volume, by end-user, (Units), 2014 – 2025
TABLE 6 Global handheld hoist controller industry revenue, by end-user, (USD Million), 2014 – 2025
TABLE 7 Global automatic hoist controller industry volume, by end-user, (Units), 2014 – 2025
TABLE 8 Global automatic hoist controller industry revenue, by end-user, (USD Million), 2014 – 2025
TABLE 9 Global hoist controller market volume, by end-user, (Units), 2014 – 2025
TABLE 10 Global hoist controller industry revenue, by end-user, (USD Million), 2014 – 2025
TABLE 11 Global hoist controller industry volume, by region, (Units), 2014 – 2025
TABLE 12 Global hoist controller industry revenue, by region, (USD Million), 2014 – 2025
TABLE 13 List of key manufacturers/suppliers
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