Electrical Chain Hoists Market size is estimated to be USD 3.5 Billion in 2024 and is expected to reach USD 5.8 Billion by 2033 at a CAGR of 6.1% from 2026 to 2033.
In 2022, the global electric hoist market was valued at approximately USD 1.2 billion and is projected to reach USD 1.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2023 to 2031. Focusing specifically on the chain hoist segment, the market was valued at USD 757.3 million in 2023 and is expected to reach USD 1.7 billion by 2030, with a CAGR of 8.5% during the forecast period. Regionally, East Asia is anticipated to be a leading market, with China projected to achieve a market size of USD 348.9 million by 2033, reflecting a CAGR of 7.1% from 2023 to 2033. In North America, the United States market is expected to reach USD 284.3 million by 2033, growing at a CAGR of 7.3% during the same period. Europes market, particularly Germany, is projected to attain USD 77.4 million by 2033, with a CAGR of 7.6% from 2023 to 2033. In the Asia Pacific region, Indias electric hoist market is forecasted to reach USD 81.7 million by 2033, growing at a CAGR of 8.4% during the forecast period.The increasing demand for automation and enhanced safety in material handling across various industries, such as construction, manufacturing, and logistics, is driving the growth of the electrical chain hoists market. Advancements in technology, including the integration of IoT and automation, are revolutionizing the functionality of electric hoists, offering improved control and monitoring capabilities. Additionally, the emphasis on worker safety and stringent occupational safety regulations are encouraging the adoption of electric hoists with advanced safety features. Emerging markets, particularly in the Asia Pacific region, present significant opportunities due to rapid industrialization and infrastructure development. Furthermore, the growing focus on energy efficiency and eco friendly designs is prompting manufacturers to innovate, creating new avenues for market expansion.
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Hitachi
Liftket
Columbus McKinnon (CM)
Konecranes
Vulcan Hoist
Demag
Kito
The David Round Company
GIS AG
WOKAITE
R and M Hoist
ChainMaster
ABUS Crane Systems
The David Round Company
Jet Tools
VERLINDE
RUD Ketten Rieger and Dietz
WOKAITE
Venus Engineers
Shanghai Wanbon Hoisting Machinery
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Electrical Chain Hoists Market
Electric Chain Hoists
Manual Chain Hoists
Pneumatic Chain Hoists
Hydraulic Chain Hoists
Below 1 ton
1 to 5 tons
5 to 10 tons
Above 10 tons
Manufacturing
Construction
Aerospace & Defense
Automotive
Shipbuilding
Logistics & Warehousing
Direct Sales
Wholesale Distributors
Online Retailers
Specialized Equipment Suppliers
Construction Industry
Marine Industry
Agricultural Sector
Entertainment Industry
Transportation & Logistics
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Electrical Chain Hoists Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Electrical Chain Hoists Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Electrical Chain Hoists Market, By Type
6. Global Electrical Chain Hoists Market, By Application
7. Global Electrical Chain Hoists Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Electrical Chain Hoists Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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