Hydraulic Hoist Market Analysis

Hydraulic Hoist Market Analysis

The chain hydraulic hoist market held nearly 90% revenue share of in 2017. These hoists are otherwise called as chain blocks or manual chain blocks or hand chain hoists. Manual chain hoists are highly preferred by the consumers, due to their easiness to operate, and they require less service, compared to lever hoists. The chain hoists finds applications in almost all the end-user industries. Moreover, these are highly preferred in mining operations, as they require no power to operate.
 

The manual hoist market has segmented based on their load bearing capacities. The hydraulic chain hoists have a load bearing capacity of up to 100 tons, while the lever hoists are only having less load capacity. In terms of load bearing capacity, the manual chain hoists are segmented as 0.5 - 20.0, 20.1 - 50.0, 50.1 - 75.0, and 75.1 - 100.0 tons. The chain hoists with 0.5 – 20.0 load range are predicted to have the higher market share. They held a major share of over 64% in 2017 and will grow till the end of the forecast period.
 

The lever hoist market has been segmented into 0.5 - 5.0, 5.1 - 10.0, and 10.1 - 15.0 tons. The lever hoists have low load bearing capacities compared to hydraulic chain hoists. Among all these capacities, the manual lever hoists with 5.1 – 10.0 load capacity are the most preferred hoists. They captured a market share of over 80% in 2017 and will show a meagre growth rate till the end of the forecast period.
 

In terms of end-user, the hydraulic hoist market has been bifurcated into metal processing, cement, automotive, chemical, mining, construction, and others which include retail, water treatment, pharmaceuticals, etc. The hydraulic hoists market for metal processing has the highest share, followed by cement, automotive, and chemical end-users. Increasing industrialization and urbanization, are creating the demand for metals such as stainless steel, and iron is rising on a constant rate, which will in turn accelerate the manual hoist market over the forecast period. For instance, the global crude steel production reached 1,689.4 million tons in 2017, from 1,620.0 million tons in 2015, increasing at a CAGR of over 4.3%.
 

Asia Pacific hydraulic hoist market held a major share of the global market in 2017 and will lead till the end of the forecast period. The growth of Asia Pacific manual hoist market is majorly due to the increasing industrialization, coupled with rising mining activities in the economies such as Chain, and Japan. The urban population is increasing at an exponential growth rate in the developing economies like China, and India, which is increasing small and medium-scale construction activities, which require hydraulic hoists.