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Hydraulic Hoist Market Size
- Report ID: GMI2640
- Published Date: Jun 2018
- Report Format: PDF
Hydraulic Hoist Market Size
Hydraulic Hoist Market size was valued over USD 250.0 million in 2017, and the industry will grow at a CAGR of upto 5.6% up to 2025.
A hydraulic hoist (chain and lever) is a material handling device used for transferring and lifting materials from one place to another. These hoists are available in two types, namely chain hoists and lever hoists. These hoists help the technical operators to shift the materials easily. The hydraulic hoists market size is expected to increase over the forecast period, due to the increasing industrialization, growth in end-user industries, and increasing demand for material handling equipment in industry verticals such as chemical, metal, and others.
The hydraulic hoists finds extensive applications in end-user industries such as metal processing, cement, chemical, mining and others. One of the major factor responsible for the growth of hydraulic chain and lever hoist market, is the increasing demand for material handling and transfer. Thus, increasing logistic businesses due to positive growth in e-commerce and retail industry will complement hydraulic chain and lever hoist market size by 2024.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Hydraulic Hoist Market Size in 2017: | 250 Million (USD) |
| Forecast Period: | 2018 to 2025 |
| Forecast Period 2018 to 2025 CAGR: | 5.6% |
| 2025 Value Projection: | 417 Million (USD) |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 260 |
| Tables, Charts & Figures: | 394 |
| Segments covered: | Type, Load Bearing Capacity, End-User and Region |
Urbanization and industrialization in the developing economies of Asia Pacific and Latin America, are on the rise, and the demand for hydraulic hoists is significantly increasing. Moreover, the increasing demand from mining end-user industry will also impact the growth of the manual hoist market significantly.
The additional demand for hoists is from the chemical industry. The production in this vertical is rising significantly from the past few years and is expected to grow over the coming years. The hydraulic hoists finds applications in the entire chemical industry. They are used in warehouses, transferring raw materials to the production sites, etc.
One of the major restraint of the hydraulic hoist market is the lack of technical expertise, coupled with increasing competition from the electric hoists. The consumers are showing much interest towards electric hoists, as they are easy to operate, and highly reliable. Moreover, the continuous service requirement of hydraulic hoists is also one of the significant factor affecting the growth of manual hoist market.
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Hydraulic Hoist Market Scope
