Hoist Controller Market: Competitive Insights, Regional Trends & Growth Forecast To 2025
The Hoist Controller Market is set to observe growth rate of over 3.0% till 2025. With expanding industrialization in developing nations, the hoist controller industry has been earmarked to record a remunerative period of growth in the coming years. These controllers are utilized for controlling all types of hoists throughout the directions needed by the customer. This is so since they lessen the burden of material handling.
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Owing to the need for reducing material handling costs, growing consumption for all kinds of hoists would generate the demand for hoist controllers across several industries in coming years, especially as hoists need compulsory controlling units to operate. This trend is projected to drive the overall hoist controller market in coming years.
In terms of hoist, the overall hoist controller industry is classified into electric hoists and hydraulic hoists. Among these, the electric hoists accounted for a major part of the global hoist controller industry. This segment held a share of more than 97% back in 2017 and is likely to grow with a CAGR of 3.0% over the forecast timeframe, reaching a valuation of approximately $103.2 million by the end of the projected time period.
However, the hoist controller industry may observe a hindrance to its growth in terms of size owing to the significant availability of extremely low-standard controller devices. Likewise, the occurrence of an exceptionally disorderly market landscape, credited with scarce options of hoist controllers that are waterproof, might limit the hoist controller industry expansion as well. The hoist controller industry is projected to surpass $104.0 million valuation by 2025.
Meanwhile, the hydraulic hoists is likely to represent a very small part of the overall hoist controller market in the estimated time period. The hydraulic segment is likely to witness a CAGR of about 2.7% through the analysis period, reaching a valuation of approximately $1.8 million by the end of the forecast time period.
The handheld type segment of hoist controllers registered a major share of nearly 94% in terms of revenue back in 2017. This segment would further grow at a CAGR of nearly 3.0% over the projected timeframe, exceeding a valuation of $99.2 million by 2025. Meanwhile, the automatic type segment of hoist controllers is likely to grow at a CAGR that is very low in comparison to that at of the handheld type hoist controllers. The market is likely to exceed a valuation of nearly $5.8 million by 2025.
The APAC hoist controller market will exceed a valuation of approximately $33.6 million by 2025. The market is likely to grow with a CAGR of over 3.3% over the projected time period. The North America hoist controller industry valuation is likely to exceed approximately $24.5 million by 2025, growing with a 2.7% CAGR through the analysis period.
Overall, apart from some restraints, expanding industrialization and the subsequent rise in adoption of all types of hoists is likely to offer a wide array of growth opportunities for hoist controller market. The competitive spectrum of hoist controller industry includes companies like Conductix-Wampfler USA, Eastern Electric Corporation, Magnetek Inc., Hoosier Crane Service Company, Schneider Electric, Speed-O-Controls, and Uesco Cranes among many others.
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Some Point from Table of Contents:
Data Tables:
TABLE 1 Global hoist controller industry 360° synopsis, 2014 – 2025
TABLE 2 Global hoist controller market, (Units) (USD Million), 2014 – 2025
TABLE 3 Global hoist controller industry volume, by hoist type, (Units), 2014 – 2025
TABLE 4 Global hoist controller industry revenue, by hoist type, (USD Million), 2014 – 2025
TABLE 5 Global handheld hoist controller industry volume, by end-user, (Units), 2014 – 2025
TABLE 6 Global handheld hoist controller industry revenue, by end-user, (USD Million), 2014 – 2025
TABLE 7 Global automatic hoist controller industry volume, by end-user, (Units), 2014 – 2025
TABLE 8 Global automatic hoist controller market revenue, by end-user, (USD Million), 2014 – 2025
TABLE 9 Global hoist controller industry volume, by end-user, (Units), 2014 – 2025
TABLE 10 Global hoist controller industry revenue, by end-user, (USD Million), 2014 – 2025
TABLE 11 Global hoist controller industry volume, by region, (Units), 2014 – 2025
TABLE 12 Global hoist controller industry revenue, by region, (USD Million), 2014 – 2025
TABLE 13 List of key manufacturers/suppliers
TABLE 14 List of key/potential customers
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