Report Code: A07858 | Pages: NA | ||
Tables: NA | Charts: NA |
|
Hoist & chains are used to lift or lower heavy load. High-grade steel is used for the manufacturing of the hoist & chains considering durability, reliability, and safety. They are wrapped on a lift wheel or drum that allows them to move easily on the drum or the wheel. These machines can be operated electrically, pneumatically, or manually. The manual hoists can be classified into three parts that are hooks, lifting chains, and lifting mechanisms. These machines are widely used in assembly lines, warehoused, stamping, and punching workshops. Also, they are widely adopted in the automotive industry for handling and storing steel coils. Hoist & chains are available in different diameters and grades depending on the load requirement and application.Â
COVID-19 Scenario analysis:
The growing demand for hoist & chains from the construction and building industry for lifting and material handling equipment is a key factor that is expected to drive the hoist & chains market in the upcoming years. Besides, the hoist and chains have widespread applications in cargo movement and warehouses that can steer the growth of the market in the next few years. Moreover, these machines are used in aerospace, defense, and automotive industry for material handling which can fuel the demand for hoist & chains in these industries. However, the scarcity of highly skilled operators is a restraining factor that is hampering market growth. On the contrary, notable growth in the end-use industries like construction, automotive, and aerospace industries in different countries is anticipated to create lucrative growth opportunities for the hoist & chains market during the forecast period.
Market leaders in the hoist & chains market are implementing new growth strategies to increase their global reach through new mergers and acquisitions. For instance, McKinnon, a U.S. based company acquired STAHL Crane Systems, a U.K. based company in 2017. The acquisition was aimed at expanding market growth in Europe. The company has also acquired other companies like Magnetek, a U.S. based manufacturer and designer of digital power and motion control solutions. New business growth strategies by market leaders in the hoist & chains market can create a positive impact on the growth of the hoist & chains market in the upcoming years.Â
Due to factors like rapid urbanization, industrialization, population, and others in emerging countries like China and India, there has been a surge in construction activities in these countries. Huge investments for new construction projects in these countries can significantly result in the positive growth of the construction sector. Since, for any new construction, material handling equipment like hoist & chains are essential hence, the demand for these machines can increase with an increase in the number of new constructions. According to the Department of Promotion for Industry and internal trade (DPIIT), the construction development sector of India received $25.4 billion through Foreign Direct Investment (FDI) from 2000 to 2019. Huge investments for the construction development sector can boost the growth of the construction industry in these countries that will eventually result in the positive growth of the hoist and chains market during the forecast period.
Key benefits of the report:
Hoist & Chains Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By End-use application |
|
By Mode of operation |
|
By Region |
|
Key Market Players | Theile, Hangzhou Modern Lifting Machinery Works, Gunnebo, Campbell, Retezarna A.S., Peerless Industrial Group, J.D, FEC Corporation, Force Chain, Atli Industry Co., Ltd., Juli Sling Co., Ltd., Weissenfels, McKinnon Chain |
Loading Table Of Content...
Start reading.
This Report and over 71,335+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time for readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of the scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save the time of readers