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Hoist Controller Market Size

Report ID: GMI2695
Published Date: Aug 2023
Report Format: PDF

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Hoist Controller Market Size

Hoist Controller Market size is anticipated to register a CAGR of 3% from 2023 to 2032. Driven by the rising deployment of advanced technologies and automation for the installation of elevators at construction sites, warehouses, and shipyards will influence the industry growth. The rapidly growing R&D investments have made way for the increasing adoption of robotic process automation (RPA), adding positive edge to the market growth. Moreover, the surging popularity of wireless and remote-control solutions is another factor forecasted to boost market development.

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Hoist Controller Market Growth Drivers & Restraints

Significant advances in the construction and marine industries to facilitate loading and unloading of operations will stimulate adoption of hoist controllers. According to UNCTAD, global maritime trade is likely to rise at 2.1% annually from 2023 to 2027. Additionally, the rising concerns over the abundant availability of sub-standard handheld controllers may hamper the product demand to a great extent.

Hoist Controller Market Report Attributes
Report Attribute	Details
Base Year:	2022
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3%
Historical Data for:	2018 to 2022
No. of Pages:	206
Tables, Charts & Figures:	303
Segments covered:	Type, Hoist, End-User and Region
Growth Drivers:	Growing deployment of advanced automation technologies Surging focus on reduced waste and minimized carbon footprint Rising R&D investments
Pitfalls & Challenges:	Availability of sub-standard handheld controllers

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Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size for hoist controller is anticipated to witness more than 3% CAGR from 2023 to 2032, due to the higher deployment of advanced technologies and automation worldwide.

Electric hoist controller market is expected to observe over 3% CAGR between 2023 and 2032, owing to their rising popularity in healthcare settings for lifting and transferring patients with limited mobility.

North America hoist controller market will record more than 2.5% growth rate till 2032, driven by the rising rate of industrial manufacturing along with the surging need for safety and efficiency.

Some of the prominent hoist controller firms are Demag Cranes & Components Corp., Speed-O-Controls, Schneider Electric, Conductix-Wampfler USA, Uesco Cranes, The Rowland Company, Hoosier Crane Service Company, Eastern Electric Corporation, Siemens AG, and Magnetek Inc.