Global hydraulic hoist market is estimated to grow at a CAGR of over 5% during the forecast period. Hydraulics hoists are utilised in various applications in end-user industries including metal processing, cement, chemical, mining, and others. These are used for the work such as lifting and transferring. Among these end-use industries, the construction segment is poised to grow significantly during the forecast period.
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Rapid urbanization and increasing industrialization are the two primary factor that leads to the segmental growth of the global hydraulic hoist market growth. According to the World Bank, there is a rapid increase in the urban population from 2016 to 2018. The urban population rate was 54.4% in 2016, to 54.8% in 2017 up to 55.3 in 2018 of the total population was recorded. Thus, this demands more construction which in turn increases the demand for the market during the forecast period.
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Moreover, in the North American region, especially the US, the construction sector is the most prominent. Despite the economic strength, the enduring construction sector performance is constantly decelerating owing to rising trade disputes that result in construction delays and increment in costs. Besides, the industry is expected to rise, as there are various ongoing as well as upcoming projects that are being taken on. Projects such as SalesForce Tower (San Francisco), Comcast Technology Center (Philadelphia), Vista Tower (Chicago), One Vanderbilt (New York), 6 AM Development (Los Angeles), and Winthrop Square Garage (Boston), among others are projected to fuel the demand for the hydraulic hoist market during the forecast period.
Further Ingersoll-Rand Plc, Columbus McKinnon Corp., KITO Group, JDN Group, Vital Industries, Konecranes Oyj, OZ Lifting Products, and Tractel among others are some of the global leaders in the global hydraulic hoist industry. These players have adopted significant marketing and growth strategies and account for substantial shares supported by their broad geographic presence and wide-ranging product portfolios. Investments, mergers, expansions, acquisitions, new product development have been some of the primary growth strategies implemented by these companies to gain significant ground in the hydraulic hoist market.
Global Hydraulic hoist Market – Segmentation
Global Hydraulic Hoist Market by Type
- Chain
- Lever
Global Chain Hydraulic Hoist Market by Load Bearing Capacity
- 0.5 – 20.0 Tons
- 20.1 – 50.0 Tons
- 50.1 – 75.0 Tons
- 75.1 – 100.0 Tons
Global Lever Hydraulic Hoist Market by Load Bearing Capacity
- 0.5 – 5.0 Tons
- 5.1 – 10.0 Tons
- 10.1 – 15.0 Tons
Global Hydraulic hoist Market by End-user
- Metal Processing
- Automotive
- Chemical
- Mining
- Construction
- Others
Global Hydraulic hoist Market – Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
Company Profiles
- Air Technical Industries
- Atlantic Equipment
- Columbus McKinnon Corp.
- Godwin Manufacturing Co. Inc.
- haacon hebetechnik GmbH
- Harrington Hoists, Inc.
- Ingersoll-Rand Plc
- JDN Group
- KITO Group
- MHE- Demag (S) Pte Ltd.
- OZ Lifting Products LLC
- Tractel S.A.S.
- Unidex Inc.
- Venus Engineers
- Vital Industries Corp.
- Vulcan Compagnie de Palans Ltée
- WPT Power Corp.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
