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Hoist (device) Market Share & Market Analysis - Growth Trends & Forecasts for period from (2024 - 2031)

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The "Hoist (device) Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Hoist (device) market is expected to grow annually by 11.4% (CAGR 2024 - 2031).

This entire report is of 121 pages.

Hoist (device) Introduction and its Market Analysis

The global hoist market is witnessing steady growth due to increasing demand in industries such as construction, manufacturing, and logistics. Key players include Columbus McKinnon, Terex, KITO, and Konecranes. Factors driving revenue growth include technological advancements, growing investment in infrastructure, and increasing demand for automated material handling solutions. Market analysis shows a competitive landscape with players like Hitachi Industrial, Stahl, and ABUS crane systems. The report recommends focusing on product innovation, expanding into emerging markets, and strategic partnerships to capitalize on the growing demand for hoist devices.

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The hoist market offers various options for different lifting needs, including single speed lifting and double speed lifting devices. These hoists find applications in factories, construction sites, marinas & shipyards, mining & excavating operations, warehouses, and other sectors. Regulatory and legal factors specific to market conditions play a crucial role in maintaining safety standards and compliance in the industry. Manufacturers and operators need to adhere to these regulations to ensure the proper functioning and safe operation of hoists. As the market continues to grow, it is essential for businesses to stay updated on the latest regulatory requirements to avoid any legal issues. By understanding the segmentation and regulatory factors, companies can effectively address the diverse needs of customers and maintain compliance with industry standards. Stay informed and stay ahead in the hoist market.

Top Featured Companies Dominating the Global Hoist (device) Market

The hoist market is highly competitive, with key players such as Columbus McKinnon, Terex, KITO, Konecranes, Hitachi Industrial, Stahl, ABUS crane systems, Ingersoll Rand, TBM, Zhejiang Guanlin, Zhejiang Wuyi, . Neuhaus L.P., Verlinde, Liftket, Shanghai yiying, TOYO, TXK, Chongqing Kinglong, WKTO, and DAESAN. These companies offer a range of hoist devices for various industries such as construction, manufacturing, and logistics.

Columbus McKinnon, Terex, Konecranes, and Hitachi Industrial are some of the leading players in the hoist market, offering advanced and innovative hoist solutions. They cater to a wide range of industries and provide products that are reliable, efficient, and safe. These companies actively invest in research and development to enhance their product offerings and maintain their competitive edge in the market.

ABUS crane systems, Ingersoll Rand, and TBM are known for their high-quality hoist products that are used in heavy-duty applications. These companies have a strong presence in the global market and are preferred by customers for their durability and performance.

Zhejiang Guanlin, Zhejiang Wuyi, J.D. Neuhaus L.P., Verlinde, Liftket, Shanghai yiying, TOYO, TXK, Chongqing Kinglong, WKTO, and DAESAN are also key players in the hoist market, offering a range of products to meet the diverse needs of customers.

In terms of sales revenue, Terex reported revenue of $4.5 billion in 2020, while Konecranes reported revenue of $3.2 billion in the same year. Columbus McKinnon reported revenue of $702.1 million in 2020, showcasing the significant market presence and growth potential of these companies in the hoist market.

  • Columbus McKinnon
  • Terex
  • KITO
  • Konecranes
  • Hitachi Industrial
  • Stahl
  • ABUS crane systems
  • Ingersoll Rand
  • TBM
  • Zhejiang Guanlin
  • Zhejiang Wuyi
  • J.D.Neuhaus L.P.
  • Verlinde
  • Liftket
  • Shanghai yiying
  • TOYO
  • TXK
  • Chongqing Kinglong
  • WKTO
  • DAESAN

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Hoist (device) Market Analysis, by Type:

  • Single Speed Lifting
  • Double Speed Lifting

Single speed lifting hoists are simple devices that operate at a constant speed while double speed lifting hoists offer the flexibility of switching between two speeds. The ability to choose between speeds allows for more precise and efficient lifting operations, making double speed lifting hoists especially advantageous for industries with varying lifting requirements. This versatility in functionality has contributed to the increase in demand for hoists in the market, as businesses are constantly looking for ways to improve productivity and safety in their operations. Both types of hoists cater to different needs, thus expanding the overall market appeal.

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Hoist (device) Market Analysis, by Application:

  • Factories
  • Construction Sites
  • Marinas & Shipyards
  • Mining & Excavating Operation
  • Warehouse
  • Others

Hoists are extensively used in various industries such as factories, construction sites, marinas & shipyards, mining & excavating operations, warehouses, and others. In factories, hoists are used for lifting heavy machinery and materials. In construction sites, they are used to lift construction materials to different levels. In marinas & shipyards, hoists are used for lifting boats and other heavy equipment. In mining & excavating operations, hoists are used to transport materials to the surface. In warehouses, hoists are used for storage and retrieval of goods. The fastest growing application segment in terms of revenue is expected to be construction sites due to the increasing demand for infrastructure development.

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Hoist (device) Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The hoist market is expected to witness significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America, particularly the United States and Canada, is projected to dominate the market due to increasing investments in construction and infrastructure projects. Europe, led by countries like Germany, France, and the ., is also expected to experience substantial growth. Asia-Pacific, especially China, Japan, and India, is anticipated to witness rapid market expansion due to industrialization and urbanization. Latin America and the Middle East & Africa regions, including Brazil, Mexico, Saudi Arabia, and UAE, are also projected to contribute to market growth. The expected market share percentage valuation for hoist devices is North America (30%), Europe (25%), Asia-Pacific (20%), Latin America (15%), and the Middle East & Africa (10%).

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