Electric Hoist Market Analysis

Electric Hoist Market Analysis

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Based on capacity tons, the 0.25-5 segment was worth over USD 1.3 billion in 2023 and is anticipated to grow at a CAGR of 5.1% during 2024 to 2032. This segment includes electric hoists that can lift loads ranging from 250 kilograms up to 5,000 kilograms. These hoists are commonly used in various industries such as manufacturing, construction, and warehousing for lifting and moving moderate loads. They're popular because they cover a wide range of lifting needs for many businesses, from relatively light loads to moderately heavy ones, without going into the realm of very heavy industrial lifting.
 

Based on distribution channel, the indirect sales segment held about 74.5% of the market share in 2023 and is anticipated to grow at a CAGR of 5% during 2024 to 2032. The indirect sales channel in the electric hoist market refers to the distribution method where manufacturers sell their products through intermediaries rather than directly to end-users. Electric hoist manufacturers sell their products to distributors, wholesalers, or retailers, who then sell to the end customers. These intermediaries act as middlemen, connecting the manufacturer to the final user. They often provide additional services like product education, installation support, and after-sales service.
 

Asia Pacific dominated around 30.9% share of the electric hoist market in 2023 and is anticipated to register a CAGR of 5.4% between 2024 and 2032. Asia Pacific’s electric hoists are widely used in various industries such as automotive, construction, mining, and logistics. The demand is driven by the need for efficient material handling solutions in factories, warehouses, and construction sites. Countries like China not only have a large domestic market for electric hoists but are also major manufacturers, exporting these products globally.