The global demand for Chain Hoist Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2021 - 2027. Whereas with regards to volume, the market was calculated XX Kilo Units in 2020 and foreseen to touch XX Kilo Units by 2028 with a CAGR of XX% during 2021-2027.
A chain hoist is a simple mechanical device utilized for lifting heavy loads of objects. It consists of a pulley, which is held together by a closed chain. The closed chain forms a loop, which makes it easy to be pulled. A chain bears the stress of lifting the load over pulleys or on winding barrels instead of a rope. Using chain hoists gives a massive mechanical advantage by leveraging small force over a long distance and transforming it to multiple points over a short distance. The device can accomplish heavy lifts and pulls that would otherwise be impossible for a person to achieve alone. Chain hoists can be manual, pneumatic, or electric. It is widely used to make cargo handling more efficient. A chain hoist is widely used for general machinery, automobile, manufacturing and manufacturing plants, and applications from primary to tertiary industries, including warehouses and retail stores.
Rising demand from mining, construction, automotive, and aerospace industries contributes to significant growth for the global chain hoist market. Chain hoists are widely applicable to lift, turn, and position large components on the assembly line in warehouses & in cargo movements. Companies with more progressive and stringent ergonomic standards require a lifting device for loads as light as 20 pounds or even higher. The most significant benefit of using chain hoists is reducing back injury and other related repetitive lifting motion injury claims. This is projected to propel the growth of the chain hoist market. Electric Chain Hoists is projected to grow at the highest pace during the forecasted period. Electrically driven hoists are beneficial to use as it prevents operator fatigue, also lifting process is done at a more incredible speed. Most manufacturers have designed their product features with ergonomics into consideration.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of chain hoist.
The report segments the chain hoist market and analyses it with respect to the geography, intending to keep the marketer informed and help them identify the target demographics for the product or service.
- Manual Chain Hoists
- Electric Chain Hoists
- Construction Sites
- Marinas & Shipyards
- Mining & Excavating Operation
This section covers regional segmentation which accentuates on current and future demand for chain hoist market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Chain Hoist Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the chain hoist market include Columbus McKinnon, Terex, KITO, Konecranes, Hitachi Industrial, Stahl, ABUS crane systems, Ingersoll Rand, TBM, Zhejiang GuanlinS. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.