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Hydraulic Hoist Market to witness rapid growth from Construction Sector by 2025

Author : Rahul Varpe | Published Date : 2019-04-17 

Global Market Insights provides a detailed overview of Hydraulic Hoist market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Hydraulic Hoist market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

The most obvious industry to benefit from the advancements in hydraulic hoist equipment is the construction sector, thanks to their functions as components in forklifts and other transportation machinery. These lifting systems, for the most part, are fully capable of being integrated into devices and vehicles and this makes them one of the most valued tool in the construction space. The dominant presence of hydraulic lifts in the construction industry has stimulated the hydraulic hoist market share in the recent years. In fact, this trend is forecast to continue along a lucrative growth path over 2017-2024, given the commendable expansion of the construction sector.

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Hydraulic hoists also have secured a top place in the material handling and metal processing sectors. The substantial surge observed in the logistics businesses due to positive growth in retail and e-commerce have guaranteed a profitable growth graph for the hydraulic hoist industry. Speaking of which, it is also important to take note that the manual chain hoists, though having a marginal share, are the most highly preferred types of hydraulic hoists by the consumers. Easiness in operation and less maintenance in comparison with the chain hoists have been the factors impelling manual hydraulic hoist market growth.

Reports also claim that the manual hoist market is expected to secure attractive gains from the metal processing applications and is projected to surpass USD 83 million by 2025, with an estimated CAGR of 5.9% over 2018-2025. The chain hydraulic hoist market on other hand is expected to continue its strong growth trend in the ensuing years, having accounted for 90% of the revenue share in 2017.

With hydraulic hoist industry giants further betting big on technological upgradation, the trend of remote-control hoists and other such capabilities are poised to be commonplace in this industry. The shifting designing focus toward bringing intelligent systems will undeniably add new growth avenues to this business sphere. Thriving on the cusp of these innovative technological interventions and tremendous product demand, hydraulic hoist market, according to reliable reports, will surpass a valuation of USD 417 million by 2025.

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Considering the regional landscape, Asia Pacific is expected to emerge as a strong growth hub, with rapid industrialization and urbanization trends witnessed across the emerging economies. APAC hydraulic hoist market, in fact, held majority of the global share in the year 2017, and is forecast to lead the regional space over 2018-2025. Asia Pacific is also being touted to be the world’s largest construction market, with China reaching over 47% of the overall industry share in 2014. Besides construction, the significant ascend in mining and metal processing activities is also expected to act in favor of the industry growth in continent.

It is noteworthy to mention that the rapid expansion of the hydraulic hoist industry cannot be only credited to the fact that these products are used extensively in heavy weight lifting, but also because this industry is undergoing massive transformation in terms of technological advancements. The leading hydraulic hoist industry players in this regard are going the whole hog to suit the needs of the modern-day material handling requirements. JDN (J D Neuhaus) for instance, has lately launched a compact hoist control for use in hard-to-reach areas.

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Related News: https://www.marketwatch.com/press-release/hoist-chains-market-overview-by-applications-segments-growth-analysis-and-forecast-over-2019-to-2024-2019-04-16

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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