Global Electric Hoist Market: Market Driver and Restraint
Applications of Electric Hoist are anticipated to create new business segments in the market. Electric Hoist is in use for a broad range of Factories products such as consumer goods, automotive parts & others. The companies are focusing on launching products that are launched in few regions. There lies a great opportunity since only a few companies are into this business due to introductory stage of this product market. Electric Hoist application is developed towards a more active mode.
Manufacturers are exploring the potential of Electric Hoist in Construction Sites. Application of Electric Hoist in advanced products are gaining traction in the recent years. Recently, manufacturers have started using Electric Hoist in the Marinas & Shipyards area. Further, there are also potential uses in the areas of additional functions.
Global Electric Hoist Market: Key Takeaways
· On the one hand, Electric Hoist manufacturers are dedicated to lowering their manufacturing cost; on the other hand, they try to provide more qualified products to customers.
· Besides, they are trying to broaden the applications of Electric Hoist such as consumer goods.
· As major suppliers are seeking acquisition to expand global presence, the market concentration is estimated to increase in the comming 5 years.
Global Electric Hoist Market: Forecast by Nature
This segment includes Electric Chain Hoist, Electric Wire Hoist, etc. In terms of volume, Electric Chain Hoist segment is expected to remain dominant in the global Electric Hoist market.
Global Electric Hoist Market: Forecast by Region
North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are the seven regions that are included in this report. USA is the dominant market in the global Electric Hoist market in terms of value. The USA Electric Hoist market was estimated to be valued at US$ 579.4 Mn in 2017 and is expected to expand at a value CAGR of 4.7% over the forecast period. The Europe market is expected to expand at a robust rate of 4.6% in terms of revenue over the forecast period due to the steadily increasing production capacity for consumer goods products in this region.
Global Electric Hoist Market: Key Players
Kito, Terex, Hitachi Industrial, Columbus McKinnon, Konecranes, Street Crane, Ingersoll Rand, ABUS, Imer International, TOYO, Gorbel, DAESAN, Milwaukee Tool, VERLINDE, LIFTKET, Li An Machinery, DL Heavy Industry, etc. are the key vendors included in this report.
The market concentration of Electric Hoist is medium. The supply and demand relationship in the industry has been stable and modest. Of the 2017 global market, the top 5 companies, account for more than 48% of sales. Kito Chemical is by far the leader, followed by Terex and Hitachi Industrial. Key Vendors like Columbus McKinnon, Konecranes, and Street Crane, also play important part in regional market, so the market share in each region is quite different.
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