Electric Hoist Market Size - By Type, By Capacity (Tons), By End Use Industry, By Application, By Distribution Channel, Analysis, Share, Growth Forecast, 2025 - 2034

Electric Hoist Market Size

The global electric hoist market was estimated at USD 2.1 billion in 2024. The market is expected to grow from USD 2.2 billion in 2025 to USD 3.6 billion in 2034 at a CAGR of 5.6%.
 

Intelligent and IoT-based electric hoists are transforming the materials handling process with the introduction of things like real-time monitoring, predictive maintenance, and automated hoists. With IoT sensors, AI tools, and wireless signs included with its hoists, industries can inspect performance remotely, enhancing work processes and providing a way to mitigate equipment failure. Unlike conventional hoists, which require regular human inspections and scheduled maintenance, smart hoists use real-time data to detect early signs of wear and tear, helping to avoid work stoppages and reduce maintenance costs. The U.S. Bureau of Labor Statistics has seen a 12% decline in equipment-related downtime in the past five years, owing to the adoption of cutting-edge technologies such as IoT.
 

This enhanced workplace safety through IoT-connected hoists helps reduce the risks of overload, overheating, and machinery breakdown. They monitor unusual vibrations, heavy loads, or other dangers and halt operations, if necessary, through load sensors and safety alerts. This adoption of such hoists is benefiting sectors such as automotive, aerospace, warehousing, and construction as these sectors are moving towards better efficiency, accuracy, and worker safety. As per the U.S. Occupational Safety and Health Administration (OSHA), smart technologies help reduce physical labor, leading to a 10% decline in material handling injuries at the workplace since 2020, which includes IoT-enabled hoists.
 

Smart hoists are also being driven by remote monitoring and control. Cloud systems and apps enable managers and operators to view hoist performance, load, and energy usage in real time from anywhere. This is particularly useful in large factories, logistics centers, and offshore sites that operate multiple hoists. Businesses can leverage the data collected through these hoists to improve performance, save energy, and automate tasks. According to the U.S. Department of Energy, smart systems (basically all types of hoists and curtains powered by IoT) have enhanced energy efficiency by 18% in industrial processes since 2020.
 

Electric Hoist Market Trends

The role of smart and IoT-based electric hoists in materials handling is revolutionizing the industry through real-time monitoring, predictive maintenance, and automation. Connected readers use IoT sensors, AI tools, and wireless connections to enable industries to track and monitor performance from anywhere, run more efficient operations, and prevent equipment failures when possible. Unlike regular hoists that require regular inspection by people, scheduled maintenance, and excuses for the time when they are going to repair parts, smart hoists use real-time data to identify early signs of wear and tear and avoid work stagnation and excessive maintenance costs.
 

The IoT-enabled hoists help boost workplace safety by preventing overloads, overheating, and other machine failures. They rely on load sensors and safety warnings to identify unusual vibrations,  excessive loads, or other hazards and halt operations accordingly. An increasing number of automotive, aerospace, warehousing, and construction companies are adopting these hoists to increase efficiency and precision when working, as well as to increase worker safety. According to the U.S. Bureau of Labor Statistics, workplace injuries in material handling have dropped by 15% within the last five years because of the use of smart technologies.
 

Another key driver for smart hoists is remote monitoring and control. Cloud systems and apps enable managers and operators to check their performance, load, and energy use metrics in real-time, from any location. It is particularly useful for large factories, logistics centers, and offshore sites where numerous hoists are used. Data gathered from these hoists enables businesses to enhance performance, conserve energy, and carry out tasks automatically. According to the U.S. Department of Energy, smart systems like IoT-enabled hoists have increased energy efficiency in industrial operations by 20% since 2020.
 

Electric Hoist Market Analysis

Based on type, the electric hoist market is segmented as chain and wire. In 2024, the wire segment generated a revenue of USD 1.8 billion and is expected to grow at a CAGR of around 5.6% during the forecast period.
 

• The wire rope hoists are majorly used in the electric hoist market, as they are capable of handling heavy loads & are used for tough job processes sustainability & efficient employees. Due to their strength and stability compared to chain hoists, wire rope hoists are favored in industries like automotive, construction, shipbuilding, aerospace, and heavy machinery manufacturing.
   
• Although essentially only three models are used, the different loads range from 500 kg to over 100 tons where necessary for work in 3-point and crane protection as found in factories, warehouses, ports, and large-scale construction projects. Also, they are a lot faster than chain hoists, so materials can get moved at speed with minimal stand-down in production. According to the U.S. Bureau of Labor Statistics, the high demand for lifting equipment will further boost the demand for wire rope hoists owing to the estimated 4% growth of the U.S. construction industry per year through 2030.
   
• Wire rope hoists are also in common use as they have lesser maintenance and longer lifetime. They are designed to withstand extreme environments such as heat, extreme dust, high salinity environment, etc. and generally provide rough usage which is suitable for all outdoor and industrial appliances. They ensure quiet and smooth operation, enhancing workplace safety and efficiency.
   
• Due to automation in industrialized and advanced manufacturing facilities, wire rope hoists are employed over a broad range of wire rope hoist applications for the management of diversified loads that benefit from technological advances like smart handling and the introduction of IoT, remote controls, and monitoring systems. This is especially true for wire rope hoists due to the increasing use of automation and heavy-duty lifting. As investments in automation have remained on an upward trend over the years, the growing adoption of hoists around the world is thus surging the demand for electric hoists, as per the data published by the U.S. Department of Commerce.

Based on the end-use industry, the electric hoist market is segmented as aerospace, automotive & transportation, construction, energy, marine & shipping, transportation & logistics, material handling, oil & gas, agriculture & forestry, and others. In 2024, the automotive & transportation segment accounted for over 12% and is expected to grow at the rate of 6.3% till 2034.
 

• The growing demand from the automotive and transportation sectors is expected to propel the electric hoist market, as material handling, automation, and heavy lifting require electric hoists increasingly. Compact and portable vehicle electric hoists are essential for a wide range of applications, from manufacturing to maintenance and logistics.
   
• The prominence in automation of the vehicle production is one huge factor for this expansion. Industry 4.0 technologies are already gaining popularity among leading car manufacturers to lift engines, chassis, and body frames for the production process using electric hoists with IoT systems. As electric vehicles (EVs) boom and lightweight materials become more widely adopted, automated hoists and cranes are critical for precisely handling delicate components.
   
• The transportation industry mainly includes railways, shipbuilding, aerospace,  and electric hoist logistics. Railways require heavy-lifting hoists for the maintenance and assembly of components. Shipbuilding industries use them to raise large structural parts, whereas, in aviation, electric hoists play an important role in maintaining aircraft and manufacturing aerospace components.
   
• Moreover, tremendous development in global trade and e-commerce is driving demand for electric hoists, which are widely used in warehouses, freight handling, and ports. With the increase of goods being shipped globally,  distribution centers and shipping facilities need efficient material handling equipment to help speed up the loading and unloading process.
   
• Demand for electrical hoists also increasing due to government initiatives. As an example, the USD 108 billion set aside for public transport by the US government under the Infrastructure Investment and Jobs Act and the USD 715 billion investment planned in railways and logistics in India (over the period until 2030) shows this shift. Railway expansions, airport upgrades, and public transport projects are driving the demand for electric hoists. Consequently, the automotive and transportation industries continue to be the greater consumers of electric hoists and are projected to keep sustaining growth as automation and logistics proliferate worldwide.
   

Based on the distribution channel, the market is segmented as direct and indirect. The indirect sales segment is expected to hold a major share of 74.4% in 2024.
 

• The electric hoist market is being driven by its large distribution network, competitive pricing, and extensive use in industrial applications through the indirect sales channel. Manufacturers employ distributors, dealers, and third-party suppliers to connect with more customers without developing their own costly sales systems. This method allows them to better penetrate developing markets, particularly in Asia-Pacific, Latin America, and the Middle East, where local distributors have established customer relationships and knowledge of the regional rules. With the world already predicting that emerging economies will grow at 4.5% (Asia-Pacific and Latin America) through 2024, that gives way to indirect sales channels.
   
• Authorized dealers sell industrial buyers the products but offer substantial technical support to enable them to operate smoothly. Furthermore, dealer financing and leasing make the purchase of electric hoists easier for SMEs without having to make a heavy down payment. As per a report by the U.S. Small Business Administration, 44% of the U.S. economy is made up of these SMEs, making them an impactful contributor to driving needs for affordable solutions like indirect sales.
   

• In 2024, Asia Pacific dominated the electric hoist market accounting for around 30.9% of the global market share and generating around USD 600 million in revenue in the same year. Countries such as China, India, Japan, and South Korea are investing heavily in the manufacturing, infrastructure, and construction sectors, which increases the demand for material-handling equipment such as electric hoists. The 17 developing countries in the Asia-Pacific region are expected to need to spend USD 1.7 trillion in annual infrastructure investments through 2030 to sustain growth, according to the Asian Development Bank.
   
• It has the world's largest construction sector in the commercial, residential, and industrial areas. For instance,  APAC is the global manufacturing center, particularly in automotive, electronics, and heavy industries, which require lifting solutions. Government initiatives such as (BRI) and “The Smart Cities Mission” which has a budget of USD 31 billion are also making a significant contribution in accelerating infrastructure growth stems as well as order the electric hoist demand with the same as China which is going investment more than USD 1 trillion.
   
• Furthermore, this position of the region for electric hoist production and export can be attributed to low-cost labor and the availability of raw materials. Another driver for the growth of the electric hoist market is the aggression of e-commerce companies like Alibaba and Amazon which has increased the need for warehouse and logistics operations, ultimately accelerating the adoption of electric hoists as well.
   
• As advancements in manufacturing, automation, and infrastructure projects continue in NA, consequently, so does the demand for electric hoists. Moreover, the U.S. and Canada are making significant investments in smart manufacturing and Industry 4.0 technologies, which translates to greater demand for automated electric hoists. The Infrastructure Investment and Jobs Act of the Biden Administration (USD 1.2 trillion) including multiple infrastructure projects is catalyzing the heavy-lifting market. Heavy-duty electric hoists are also used for material handling in the oil & gas and mining industries in the U.S. and Canada.
   
• Regulatory authorities,  like OSHA (Occupational Safety and Health Administration), have introduced workplace safety regulations that promote the conversion of manual hoists into electric hoists to enhance workplace safety measures. The rise of online shopping with e-commerce giants, along with the growing automotive infrastructure for delivery companies such as Amazon, Walmart, and FedEx has spurred the demand for automated material handling solutions, subsequently propelling the market.
   
• The electric hoist market in Europe is driven by its strong industrial base,  automation trends, and stringent environmental regulations. In the automotive, aerospace, and heavy machinery sectors, performance electric hoists are used, and Germany, France, and the UK are leaders in these industries. The demand for energy-efficient electric hoists is being propelled as the European Union has allocated EUR 723.8 billion under the Recovery and Resilience Facility (RRF) that calls for green and digital transitions. It has also increased the demand for IoT-based hoists and Remote monitoring-enabled hoists alongside the trend of Industry 4.0 and smart factory solutions.
   
• As strict environmental policies in the EU make industries adopt more eco-friendly solutions in lifting, electric hoists offer a greener option compared to their fossil fuel counterparts. Additional industrial applications in the region, such as installing and maintaining renewable energy projects (wind and solar), are also propelling the need for these electric hoists. The demand for modern lifting equipment is also growing as cities embark on infrastructure upgrades like modernized railways and bridges.
   

Electric Hoist Market Share

The prominent players in the electric market are Ingersoll Rand PLC, Konecranes, Columbus McKinnon, Hitachi Industrial Equipment Systems, and KITO Corporation. These companies combined account for 40% to 45% of the total market share in a highly competitive market. Companies are focusing on research and development for more advanced, safer, and energy-efficient hoists. Companies are further moving to enhance the offerings of their hoists through the introduction of smart features.
 

Electric Hoist Market Companies

Major players operating in the electric hoist industry are:

• ABUS Cranes
• Columbus McKinnon
• Crosby Group
• Demag Cranes and Components
• Hitachi Industrial Equipment Systems
• IMER International
• Ingersoll Rand
• JASO Industrial Cranes
• KITO
• Konecranes
• Kran Direkt
• Street Crane
• Tianjin Kunda Hoisting Equipment
• Verlinde
• Yale
   

ABUS Cranes provides electric chain hoists within the ABUCompact series with loads of up to 4 tons and modular designs. Columbus McKinnon (CM) is a familiar name for a 1/8-ton to 55-ton electric chain hoist. Other electric chain hoist companies are Demag Cranes and Components, and Hitachi Industrial Equipment Systems, KITO, which also provide highly durable industrial electric hoists.
 

Konecranes provides both electric chain hoists and electric wire rope hoists with various lifting capacities. JASO Industrial Cranes specializes in electric wire rope hoists for heavy-duty operations. Likewise, Street Crane offers electric wire rope and chain hoists for various industrial applications. Verlinde and Yale (Div. of Columbus McKinnon), offer electric chain and wire rope hoists, providing reliable and efficient lifting solutions for various applications.


IMER International specializes in portable Reliable Electric Hoists for Construction applications. From Ingersoll Rand, we are a manufacturer of electric and air hoists and a source of powerful lifting solutions. Crosby Group is best known for its rigging and lifting hardware, but the electric hoist information available is scant. Information on Tianjin Kunda Hoisting Equipment and Kran Direkt's electric hoist products is limited in the public domain.
 

Electric Hoist Industry News

• In February 2024, Columbus McKinnon Corporation, an industry leader in electric hoists, announced the launch of its new Intelli-Lift system. Equipped with load sensing and speed control technology, bringing safety and efficiency to lifting operations.
   
• Hitachi Industrial Equipment Systems Co., Ltd. has announced a new lineup of compact electric chain hoists for use in confined spaces in January 2024. These hoists are designed for increased energy efficiency, as well as wireless control capabilities.
   
• In December 2023, the Crosby Group, a worldwide leader in rigging, lifting, and material handling hardware, noted that it acquired a majority stake in Verton, an Australian tech firm focused on remote-controlled load orientation systems for use with hoists and cranes. This acquisition will strengthen the Crosby Group's portfolio of connected lifting solutions.
   

The electric hoist market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and Volume in Thousand Units from 2021 to 2034, for the following segments:

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Market, By Type

• Chain
• Wire

Market, By Capacity (Tons)

• 0.25-5.0
• 5.1-10
• 10.1-15
• 15.1-20
• 20.1-32

Market, By End Use Industry

• Aerospace
• Automotive & Transportation
• Construction
• Energy
• Marine & shipping
• Transportation & logistics
• Material handling
• Oil & gas
• Agricultural & forestry
• Others

Market, By Application

• Commercial recovery
• Cranes 
  • Fixed
  • Mobile
• Workboat
• Utility
• Others

Market, By Distribution Channel

• Direct sales
• Indirect sales

The above information is provided for the following regions:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia