Electric Hoist Market 2025: Growth Rate, Trend & Regional Outlook
Category: #world  By Rahul Varpe  Date: 2020-04-27
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Electric Hoist Market 2025: Growth Rate, Trend & Regional Outlook

Global Electric Hoist Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends.

Electric Hoist Market share was valued at USD 1.9 billion in the year 2017 and is projected to surpass a revenue of USD 3.4 billion by the year 2025. Hoist finds major applications in material handle operations. It can be used to shift heavy-weight materials easily. The electric hoists' demand will grow significantly over the projected timeframe, owing to massive material handling and transportation applications in construction and manufacturing industry. The demand for electric hoists is majorly from the construction end-user, primarily in both the developing and developed nations. The lack of expertise in handling overhead cranes and its attached hoists acts as an important factor, restricting the market growth in the projected timespan.

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Electric wire hoist market is expected to reach more than USD 2.5 billion till 2025, increasing over CAGR more than 7.3% in the entire forecast timeframe. Wire range of load capacities, and the ability to customize the hoists according to their load capacities, are the major factors accounting to the increase of global electric wire hoist market by end of forecast span.

Electric chain hoists with load capacity in between 5.1 - 10.0 ton capacity will witness a significant market growth and might cross over USD 200.0 million till 2025. This will hold a significant part of global chain hoist market till 2025. Electric wire hoists of load range between 0.5 - 10.0 tons are projected to reach over USD 1.0 billion till the end of 2025, growing at CAGR higher over 7.3%.

Global electric hoist market for aerospace had key share of electric hoist market by end of 2017, and would reach USD 860.0 million till 2025, rising at CAGR more than 7.7% by end of forecast timespan

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Asia Pacific electric hoist market would reach more than USD 950.0 million till close of 2025, increasing at CAGR more than 7.5%. The North America electric hoist market is predicted to be second-highest market in market revenue, which would increase at CAGR of 7.4% by end of projected timeframe.

Primary players of global electric hoist market include Konecranes, Columbus McKinnon, Hitachi Industrial, RAM, Ace Industries, Jiangsu Jiali Hoisting Machinery Manufacturing, Tiger Lifting, Harrington Hoist, ABUS Kransysteme, Coffing Hoist, Milwaukee, Budgit Hoist, JET, Toronto Electric, Demag, and Granada among others.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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