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Hydraulic Hoist Market to accrue sizable proceeds by 2025

Author : Rahul Varpe | Published Date : 2019-09-27 

Global Market Insights has recently added Hydraulic Hoist Market report which mentions valuable insights pertaining to market share, profitability graph, market size, SWOT analysis, and regional proliferation of this industry.  

Hydraulic hoist market, back in 2017, accumulated a significant remuneration of over USD 250 million, given the worldwide increase in crane activity. In fact, according to industry experts, the robust growth in the hoist market has heralded a period of strong economic growth after the global turmoil of 2008 in the wake of worldwide financial crisis that has in turn allowed these pieces of engineering reign supreme in the construction, automotive, shipping, metal processing, and mining industries.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  1. Ingersoll-Rand plc
  2. Columbus McKinnon
  3. KITO Group
  4. Harrington Hoists, Inc.
  5. JDN Group
  6. Vital Chain Block
  7. OZ Lifting Products
  8. Venus Engineers
  9. Tractel
  10. Vulcan Compagnie de Palans Ltée

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. If reports are to be believed, the global construction industry is expected to attain a valuation of USD 10 trillion by 2020, accelerating with an annual average growth rate of 3.4% over 2016-2020. Given the anticipated expansion, the commercial graph of hydraulic hoist industry is expected to attain unprecedented growth in the following years.

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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.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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