Electric Hoist Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Electric Hoist Market Trends and Forecast

The future of the electric hoist market looks promising with opportunities in the construction, energy, aerospace, and transportation applications. The global electric hoist market is expected to reach an estimated $1.80 billion by 2028 with a CAGR of 6.1% from 2023 to 2028. The major drivers for this market are expanding need for technologically advanced material handling solutions across various end use industries and growing requirement for automation-based equipment that can enhance output with minimal effort from human labor.

A more than 150-page report is developed to help in your business decisions.

Electric Hoist Market by Segment

The study includes trends and forecast for the global electric hoist market by product type, application, and region, as follows:

Electric Hoist Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Electric Wire Hoist
• Electric Chain Hoist
• Others

Electric Hoist Market by Application [Shipment Analysis by Value from 2017 to 2028]:

• Construction
• Energy
• Aerospace
• Transportation
• Others

Electric Hoist Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Electric Hoist Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, electric hoist companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric hoist companies profiled in this report include-

• Tianjing Kunda Hoisting Equipment
• IMER International
• ABUS Kransysteme
• Street Crane Company
• Ingersoll Rand
• Konecranes

Electric Hoist Market Insights

• Lucintel forecasts that electric chain hoist segment is expected to witness a higher growth over the forecast period due to the significant usage of these hoists to carry or handle large machinery because of their enhanced weight-loading capabilities and stainless steel construction.
• Construction is expected to remain the largest application segment due to the increasing constructional activities of new and retrofit buildings and growing investments in the construction sector by the federal and state governments and municipality.
• APAC will remain the largest region due to the rapid urbanization and increasing investment in infrastructural development by the governments in the region.

Features of the Electric Hoist Market

• Market Size Estimates: Electric hoist market size estimation in terms of value ($B)
• Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Electric hoist market size by various segments, such as by product type, application, and region
• Regional Analysis: Electric hoist market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different product types, applications, and regions for the electric hoist market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the electric hoist market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the electric hoist market size?

Answer: The global electric hoist market is expected to reach an estimated $1.80 billion by 2028.

Q2. What is the growth forecast for electric hoist market?

Answer: The global electric hoist market is expected to grow with a CAGR of 6.1% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the electric hoist market?

Answer: The major drivers for this market are expanding need for technologically advanced material handling solutions across various end use industries and growing requirement for automation-based equipment that can enhance output with minimal effort from human labor.

Q4. What are the major segments for electric hoist market?

Answer: The future of the electric hoist market looks promising with opportunities in the construction, energy, aerospace, and transportation applications.

Q5. Who are the key electric hoist companies?

Answer: Some of the key electric hoist companies are as follows:

• Tianjing Kunda Hoisting Equipment
• IMER International
• ABUS Kransysteme
• Street Crane Company
• Ingersoll Rand
• Konecranes

Q6. Which electric hoist segment will be the largest in future?

Answer: Lucintel forecasts that electric chain hoist segment is expected to witness a higher growth over the forecast period due to the significant usage of these hoists to carry or handle large machinery because of their enhanced weight-loading capabilities and stainless steel construction.

Q7. In electric hoist market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region due to the rapid urbanization and increasing investment in infrastructural development by the governments in the region.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global electric hoist market by product type (electric wire hoists, electric chain hoists, and others), application (construction, energy, aerospace, transportation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?