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Hoist Controller Market for cement applications is predictable to exceed $19 million by 2025

Author : Rahul Varpe | Published Date : 2019-08-12 

Hoist Controller Market is claimed to be a considerably paramount business space, given the agonizing attempts by the researchers toward unlocking the potential of the technology across various off-beat spheres. By 2025, the global hoist market is projected to surpass a valuation of USD 3 billion with a CAGR of 5% over the coming seven years. Overtly, the expansion would leave a synonymous impact on the worldwide hoist controller industry outlook.  Electric hoists, in this regard, are slated to contribute immensely to the overall commercialization potential of this vertical. In the year 2017, the electric hoists procured a mammoth 90% of the product landscape and are anticipated to witness an industry share of more than USD 100 million by 2025.

Persistently channelized by dynamic technological breakthroughs in lifting ecosystem, hoist controller market is set to trigger a consequential transformation over the coming timeframe. In terms of commercialization, the overall business space is slated to cross USD 104 million by 2025.

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The emerging economies are gaining commendable traction in context of the demand contribution of these controllers. The chief attributing factor is the rapid industrialization in these belts. Endorsed by the rising economic portfolio, APAC stands as one of the strongest avenues for hoist controller market expansion, with an anticipated market share of USD 32 million by 2025. China, India, and Japan are touted to be the chief revenue pockets for the APAC belt, with the expanding construction sector bagging the growth credit.

Hoist Controller Market growth is highly ancillary to the increased demand for cranes and hoists across manufacturing domains for material handling purposes. An anticipated trend to watch for remains the rivalry between North America and Asia Pacific in terms of regional contendership. For the record, North America held the second largest share in the global landscape in 2017. The region is forecast to register a revenue of USD 24 million by 2025. A presence of large manufacturing base in tandem with the rising demand for automated hoist controllers will mainly characterize the North America hoist controller industry trends.

Hoist controller market, by hoist type

  • Electric
  • Hydraulic

Hoist controller market, by end-user

  • Automotive
  • Cement
  • Chemical
  • Construction
  • Marine
  • Metal processing
  • Others

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China construction industry size in 2017 stood at more than 25 trillion yuan, which indeed resulted in an extensive demand for hoist controllers from the cement sector. In fact, the cement sector procured a massive chunk of the overall end-use landscape of this fraternity in 2017. By 2025, the overall handheld hoist controller market size from cement applications is projected to surpass USD 19 million by 2025.

Related News: https://www.marketwatch.com/press-release/tower-crane-market-2019---2025-regional-growth-forecast-by-leading-manufacturers-terex-corporation-manitowoc-xcmg-group-liebherr-group-2019-08-12

 

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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