Hoist Chains Market - Growth Prospects by Regions and Segments to 2025
Category: #reports  By Rahul Varpe  Date: 2020-04-13
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Hoist Chains Market - Growth Prospects by Regions and Segments to 2025

With more than 341,300 wind turbines spinning worldwide at the end of 2016 and the extensive wind farm projects in the making, the hoist chains market stands to gain tremendous proceeds over the forecast period from the inevitable need of electric chain hoists.

As per the latest research report, the global Hoist Chains Market is anticipated to depict a CAGR of 10% through 2025, having recorded a valuation of USD 4.5 Million in 2017.

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By 2025, the Hoist Chains Market is expected to hit a remuneration of 9.5 Million. An extremely definite evaluation of the global market in terms of qualitative as well as quantitative analysis has been covered in this report.

Experts have predicted that in North America alone, the energy consumption could reach up to 157 quadrillion BTU by 2025, indicating the prospects of new electricity generation plants and the involvement of the hoist chains industry. The communications segment is estimated to utilize nearly 20% of all the world’s electricity by 2025, additionally highlighting the need for more energy production units. The International Energy Agency (IEA) has informed that in 2016, renewables had contributed the maximum capacity addition, with around 165 GW of new production capacity. As evident, a spurt in energy infrastructure projects globally will fuel the hoist chains market expansion, since new undertakings imply the requirement for efficient material handling equipment.

Increased infrastructure development activities around the globe have generated considerable remuneration for the hoist chains market, with the rising demand for material handling equipment across construction and energy sectors. The accelerated growth of the automobile and aerospace industries have further influenced the demand for specialized equipment like electric hoists in the manufacturing segment. Requiring much less maintenance as compared to wire rope hoists, chain hoists serve as a very economical alternative to expensive cranes in different environments, propagating the hoist chains industry.

Market Growth Drivers –

  1. Rising demand for material handling equipment in aerospace & defense industry
  2. Strong demand for lifting equipment in the automotive industry
  3. Rapidly growing construction industry in Asia Pacific
  4. Increasing product demand for oil & gas drilling and material handling activities in North America

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Top Companies

RUD, Pewag, Gunnebo, Thiele, J.D.Theile, Parsons Chain, FEW Ketten Walder, Chaineries Limoujines, Weissenfels, Campbell, Retezarna, Peerless, Mckinnon Chains, ATLI, Juli Sling, Force Chain, Hangzhou Modern Lifting Machinery Works

Market By End-user: -

  1. Aerospace
  2. Automotive
  3. Construction
  4. Energy
  5. Marine

The report is inclusive of commendable information with respect the production, individual segmental growth rate, valuation, pricing, as well as segmental market share.

In the report, the abstract section is inclusive of information on the market dynamics. This section is further categorized into driving factors propelling the market growth, industry hinderances, trends characterizing the market growth, as well as the business opportunities prevalent in the industry.

The Hoist Chains Market report also contains information pertaining to the anticipated CAGR of the global business through the forecast period. In addition, many technological developments and innovations that may possibly boost the industry outlook over the anticipated period are also mentioned in the study.

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What are the key highlights of this report?

  1. A systematic pricing analysis has been done on the sources of the product, application, as well as regional categories
  2. A detailed analysis of the vendor matrix, important companies that will help better understand the competitive situation of the global business
  3. Important, insightful data on the regulatory status of the market, as well as the investment scenario – for instance, how many stakeholders have invested in the market and so on
  4. A deep-dive understanding of the various aspects propelling the overall market growth graph, as well as their influence on the worldwide market projections and dynamics
  5. A systematic roadmap depicting the numerous growth opportunities in the worldwide market coupled with the identification of vital factors
  6. An extensive evaluation of the various trends prevailing in the global industry that would help identify the various developments in the market from a global perspective

Related News: https://www.marketwatch.com/press-release/soundproof-curtains-market-is-set-to-record-7-cagr-during-forecast-time-2020-04-13

About Author

Rahul Varpe

Email: [email protected]   

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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