New report published by QY Research which offers insights on the global Air Hoist market. The Air Hoist market has been experiencing steady growth graph since past years. During the 2017-2025 timeline, the global market for Air Hoist is expected to reflect a 1.7x increase in the revenue growth. In 2017 the global Air Hoist market was valued at US$ 220 Mn and by the end of the assessment year (2025), it is estimated to touch a value more than US$ 370 Mn growing at a value CAGR of 6.6% throughout the period of forecast.
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Global Air Hoist Market: Market Driver and Restraint
Applications of Air Hoist are anticipated to create new business segments in the market. Air 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. Air Hoist application is developed towards a more active mode.
Manufacturers are exploring the potential of Air Hoist in Construction Sites. Application of Air Hoist in advanced products are gaining traction in the recent years. Recently, manufacturers have started using Air Hoist in the Marinas & Shipyards area. Further, there are also potential uses in the areas of additional functions.
Global Air Hoist Market: Key Takeaways
· On the one hand, Air 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 Air 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 Air Hoist Market: Forecast by Nature
This segment includes Air Chain Hoist, Air Wire Hoist, etc. In terms of volume, Air Chain Hoist segment is expected to remain dominant in the global Air Hoist market.
Global Air 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. Europe is the dominant market in the global Air Hoist market in terms of value. The Europe Air Hoist market was estimated to be valued at US$ 73.66 Mn in 2017 and is expected to expand at a value CAGR of 7.3% over the forecast period. The North America market is expected to expand at a robust rate of 7.1% in terms of revenue over the forecast period due to the steadily increasing production capacity for consumer goods products in this region.
Global Air Hoist Market: Key Players
Kito, Terex, Hitachi Industrial, Columbus McKinnon, Konecranes, Street Crane, Ingersoll Rand, ABUS, Imer International, etc. are the key vendors included in this report.
The market concentration of Air 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 35% 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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