Home > Construction > Construction Equipment > Cranes > Hoist Sling Chains Assemblies Market

Hoist Sling Chains Assemblies Market Size

Report ID: GMI2896
Published Date: Sep 2018
Report Format: PDF

Download Free Sample

Hoist Sling Chains Assemblies Market Size

Hoist Sling Chains Assemblies Market size was over USD 4.2 million in 2017, with projected gains close to 10% CAGR between 2018 and 2025.

To get key market trends

Download Free Sample

Emergence of China and South Korea as the leading force in the shipbuilding industry has been the major driver for increasing the demand for hoist sling chains assemblies in the recent decade. Increase in ship repair and maintenance activities will drive the demand for hoist lifting chains assemblies across the globe in the future years. Growing shipbuilding industry and increasing mega-ship building projects for instance, container ships such as Cosco Glory, Cosco Development by Hyundai Heavy Industries, present brighter outlook for hoist lifting chains assemblies demand in the near future.

As per a publication by the UN Department of Economic and Social Affairs, by 2030, cities having over 500,000 inhabitants will rise by 30% in Asia. Expanding urbanization and population feeding requirements in countries such as India, South Korea and Taiwan present strong growth aspects in the regional construction sector. Such trends present significant potential for the regional hoist sling chains assemblies demand over the forecast span.

Hoist Sling Chains Assemblies Market Report Attributes
Report Attribute	Details
Base Year:	2017
Hoist Sling Chains Assemblies Market Size in 2017:	4.2 Million (USD)
Forecast Period:	2018 to 2025
Forecast Period 2018 to 2025 CAGR:	10%
2025 Value Projection:	8.9 Million (USD)
Historical Data for:	2013 to 2017
No. of Pages:	619
Tables, Charts & Figures:	818
Segments covered:	Type, Components Load Bearing Capacity, Sling Chain Assemblies, End-user and Region
Growth Drivers:	Increasing demand for material handling equipment in aerospace & defense industry Increasing demand for lifting equipment in the automotive industry Strong growth in the construction industry in Asia Pacific Increasing product demand for oil & gas drilling and material handling activities in North America
Pitfalls & Challenges:	Issues with handling the hoists and lack of technical man transportation

What are the growth opportunities in this market?

Download Free Sample

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of hoist lifting chains assemblies exceeded USD 4.2 million in 2017.

The industry share of hoist lifting chains assemblies is projected to grow at 10% CAGR between 2018 and 2025.

Robust advancements in the global shipbuilding sector and commencement of mega-ship building projects are expected to endow hoist lifting chains assemblies industry with lucrative growth proceeds over the coming years.

Master link assemblies are recording robust demand owing to its excessive strength and stress enduring capacity as well as its ability to operate with environmental hazards like chemicals or excessive heat.

Currently, RUD Chain, Inc., THIELE, Parsons Chain China, Chaineries Limousines, FEW Ketten Walder, J. D. Theile GmbH & Co. KG, Retezarna A.S., McKinnon Chains, Peerless Industrial Group, Inc., Juli Sling Co. Ltd., and Force Chain are some of the leading manufacturers of hoist sling chains assemblies.

Rapid urbanization across countries like India, Taiwan and South Korea has generated strong growth prospects in the regional construction sector, favoring the demand for hoist sling chains assemblies across APAC.