Hoist Chains Market Outlook by Regional Statistics and Development Status to 2025
Category: #headlines  By Rahul Varpe  Date: 2020-06-08
  • share
  • Twitter
  • Facebook
  • LinkedIn
Hoist Chains Market Outlook by Regional Statistics and Development Status to 2025

According to World Economic Forum s Global Competitiveness Index for 2017-18, Singapore holds the second spot in the robustness of its infrastructure across the globe. Moreover, the country has strong ability to reinvest in projects focused on digital or smart infrastructure in the coming future. These trends are projected to boost hoist demand, resulting in driving product demand and henceforth likely to boost hoist chains market by 2025.

Surface-hardened hoist chains market is projected to attain CAGR close to 9% in the projected time spell. Hoist chains are primarily used in powered hoists across various industries including aerospace, oil & gas, construction, energy, mining, automotive, etc. Key hoist chain manufacturer chains in several diameter such as 4 mm, 5 mm, 5.6 mm, 6.3 mm, 7.1 mm, 8 mm, 9 mm, 10 mm, 11.2 mm, among others. These diameters depict the chain s tensile strength which vary as per the requirement of lifting components at the construction site, mining site, automotive and aerospace workshops, etc.

Request for a sample copy of this report @ https://www.decresearch.com/request-sample/detail/2898

Rapid industrialization & urbanization mainly in emerging economies including Asia Pacific and the Middle East is a major factor which will propel hoists demand and will have successive impact on the hoist chains demand and therefore leads to a strong rise in hoist chains market by 2025. Regional government in these regions are proposing funds for major infrastructure projects to boost region s economy. For instance, Singapore is known for its airports, ports, roads, housing, sanitation, etc.

Growth Drivers: -

  1. Rising demand for material handling equipment in aerospace & defense industry
  2. Strong demand for lifting equipment in the automotive industry
  3. Rapidly growing construction industry in Asia Pacific
  4. Increasing product demand for oil & gas drilling and material handling activities in North America

Hoist chains market, by end-user:

  1. Aerospace
  2. Automotive & Transportation
  3. Construction
  4. Energy
  5. Marine
  6. Others

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/hoist-chains-market

In volume terms, hoist chains market for energy industry constituted approximately 10% of the overall hoist chains market share in 2017. Energy sector mainly including oil & gas exploration activities has triggered strong demand for hoists from upstream oil & gas sector for handling/lifting heavy components. Abundance of shale oil reserves in North America and rising energy demand from transportation, power and other sectors will boost hoists demand in the coming years. These parameters will make notable influence on the hoist chains market share by 2025.

Latin America hoist chains market is anticipated to rise at a CAGR more than 9.0% in the forecast timespan. Robust product demand from construction, automotive, energy and electronics sector will help achieve considerable gains to the Latin America hoist chains market by 2025. Growing economic conditions in Argentina and Mexico has propelled socio-economic factors which has led to rising automotive sales and has subsequently propelled hoists demand for lifting auto parts/components while assembling process. For instance, automotive sales in Mexico were recorded 1.1 million in 2013 which rose to 1.5 million by the end of 2017. These trends are likely to continue in the coming years which will help attain promising gains to the hoist chains market during the forecast timespan. Moreover, regional government has proposed substantial investment in the major infrastructure projects to boost economy which will further drive demand for lifting/handling components and therefore boost hoist chains market by 2025.

The major lifting chains companies are J.D. Theile, RUD, PEWAG, FEC Corporation, Peerless Industrial Group and Gunnebo. Some of the abovementioned players are making significant investment in forming strategic alliances to generate higher gains.

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. 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 ...

Read More >>

More News By Rahul Varpe

Interceptor Missiles Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2026
Interceptor Missiles Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2026
By Rahul Varpe

Geopolitical instability and threat of terrorism with respect to the global economy has witnessed a marked rise over the recent years. Interceptor missiles market growth seems to be closely hinged to this global unrest. The profitability quotient of ...

Commercial Aircraft MRO Market Latest Trends, Development, Growth Analysis And Forecast by 2026
Commercial Aircraft MRO Market Latest Trends, Development, Growth Analysis And Forecast by 2026
By Rahul Varpe

Global commercial aircraft MRO market size is slated to experience dramatic growth in the forthcoming years. Rapid expansion of business in the commercial aviation sector has increased the demand for maintenance, repair, and overhaul (MRO) services. ...

Helicopter Blades Market 2019-2025 : Share Forecasts, Regional Trends & Growth drivers
Helicopter Blades Market 2019-2025 : Share Forecasts, Regional Trends & Growth drivers
By Rahul Varpe

Escalating demand for passenger and military helicopters, along with rising defense spending worldwide is anticipated to drive helicopter blades market outlook. Rotor blades are vital parts for any helicopter as they can significantly impact crucial ...