The Hoist Controller Market is set to grow from its current market value of more than USD 82.9 million to over USD 104 million. It has been observed that regional governments have mandated the use of cranes and elevators in order to maintain occupational safety of workers. In this regard, in order to comply with regulatory norms related to occupational safety, many of the companies in commercial as well as industrial sectors are extensively installing modern lifting systems, propelling hoist controller industry trends.

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Traditionally, material handling equipment that were available a while back were not very user-friendly. However, a gradual change in technology trends have considerably changed the scenario, leading to the growing adoption of material handling equipment and consequently, a change of focus in the product development approach of players in hoist controller market. Recently, the German hoist and crane manufacturer, J D Neuhaus launched an innovative remote-controlled hoisting device, which can be used in places that are hard to access. Apparently, it can be effectively used for offshore and explosive environment applications, pertaining to the long-range operating capability remote control models. With the development of this electronic-based radio remote control, the German behemoth has thus set a benchmark for other hydraulic and pneumatic crane & hoist manufacturers.

The growing emergence of smart technologies and automation across various industrial sectors has brought about considerable modernization at the workplace. The incorporation of different types of sensors, positioning systems, and software in the currently manufactured devices has been helping giants achieve a dominant position in hoist controller market. A few years before, crane maintenance and monitoring was highly dependent on manual labor, resulting in downtime risks and high maintenance cost. However, the implementation of smart and next-generation features in hoisting and crane devices has proved to be beneficial for the customers, enabling them to perform online monitoring task to check the status of a crane.

With the development of smart products, companies are trying to change the business scenario in hoist controller market. The continuous engineering innovations and upcoming technology trends in hoisting devices have been setting a new benchmark for the end-users of this market. The increasing automation in crane technologies is also likely to emerge as another possible trend across the construction, automotive, and metal processing industries, owing to the continuously surging labor costs. In this regard, the growing demand for crane services has encouraged leading participants in hoist controller industry to capture more business space with a widespread product portfolio.

Validating the aforementioned fact, recently, Konecranes has added new single phase heavy-duty industrial hoist in its portfolio. This product has been forecast to be accepted by the end-users established in the area where 3-phase service is unavailable. This customer-centric product development approach of players in hoist controller industry will thus expedite the market growth over the years ahead.

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. Furthermore, the North America hoist controller industry held the second biggest share of the total market. The North America market valuation is likely to exceed approximately $24.5 million by 2025, growing with a 2.7% CAGR through the analysis period.

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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 market 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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