Hoist Controller Market Report to 2025 | Future Trends and Growth Factors
Category: #reports  By Rahul Varpe  Date: 2020-04-20
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Hoist Controller Market Report to 2025 | Future Trends and Growth Factors

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.

The overall Hoist Controller Market is slated to depict a valuation of USD 104 million by 2025, having registered a remuneration of USD 82.9 million in 2018.

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Market Growth Drivers –

  1. Growing product demand from various end-user industries
  2. Increasing product consumption from cranes

Hoist controller market is claimed to be a considerably paramount business space, given the agonizing attempts by the researchers toward unlocking the potential of the technology across various off-beat spheres. By 2025, the global hoist market is projected to surpass a valuation of USD 3 billion with a CAGR of 5% over the coming seven years. Overtly, the expansion would leave a synonymous impact on the worldwide hoist controller industry outlook.  Electric hoists, in this regard, are slated to contribute immensely to the overall commercialization potential of this vertical. In the year 2017, the electric hoists procured a mammoth 90% of the product landscape and are anticipated to witness an industry share of more than USD 100 million by 2025.

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.

The hoist controller market growth is highly ancillary to the increased demand for cranes and hoists across manufacturing domains for material handing purposes. An anticipated trend to watch for remains the rivalry between North America and Asia Pacific in terms of regional contendership. For the record, North America held the second largest share in the global landscape in 2017. The region is forecast to register a revenue of USD 24 million by 2025. A presence of large manufacturing base in tandem with the rising demand for automated hoist controllers will mainly characterize the North America hoist controller market trends.

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Top Companies: -

Schneider Electric, Speed-O-Controls, Conductix-Wampfler USA, The Rowland Company, Uesco Cranes, Hoosier Crane Service Company, Demag Cranes & Components Corp., Eastern Electric Corporation, Magnetek Inc.

Split by End-User, the market is divided into: -

  1. Automotive
  2. Cement
  3. Chemical
  4. Construction
  5. Marine
  6. Metal Processing

The report includes a lot of details pertaining to the production, growth rate of each segment, remuneration, price, as well as segmental market share.

Split by Type, the market is divided into: -

  1. Handheld
  2. Automatic

This report contains detailed information pertaining to the consumption of the product as well as market share of the application, alongside the growth rate of every application segment.

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What are the key takeaways of this report?

  1. A well-detailed evaluation of the pricing trends has been given in the report, pertaining to the product, application, as well as regional landscapes
  2. A well-detailed analysis of the vendor matrix alongside the important companies that will help to better understand the competitive scenario in the global market
  3. Important insights pertaining to the regulatory spectrum surrounding the industry, along with the investments by many shareholders in the global market
  4. A significantly deep evaluation of the many parameters propelling the overall market growth in combination with their influence on the projection as well as dynamics of the global market
  5. A detailed understanding of the numerous available growth opportunities in the global industry
  6. An extensive evaluation of the various trends prevailing in the global business space


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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