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Crane and Hoist Market Research, Size, Growth, Trend and Forecast to 2023 | MarketsandMarkets

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The report "Crane and Hoist Market by Crane Type (Mobile Crane, Fixed Crane), Hoist Type (Wire Rope, Roller Load Chain, Welded Link Load Chain), Crane Operation (Hydraulic, Electric, Hybrid), Hoist Operation, Industry, Geography - Global Forecast to 2023" – PowerPoint PPT presentation

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Title: Crane and Hoist Market Research, Size, Growth, Trend and Forecast to 2023 | MarketsandMarkets


1
MarketsandMarkets Presents
Crane and Hoist Market Research, Size, Growth,
Trend and Forecast to 2023 MarketsandMarkets 1
63 Pages Report The cranes market was valued at
USD 31.58 Billion in 2016 and is expected to
reach USD 44.70 Billion by 2023, at a CAGR of
5.22 between 2017 and 2023. The hoists market
was valued at USD 1.73 Billion in 2016 and is
expected to reach USD 2.65 Billion by 2023, at a
CAGR of 6.41 between 2017 and 2023. The base
year considered for the study is 2016, and the
forecast period is between 2017 and 2023.
2
Mobile cranes held the largest market share in
2016. Mobile cranes are designed for pulling,
lifting, moving, and holding loads. Mobile cranes
are commonly used in the construction of
buildings and the assembling of heavy equipment.
They are used on construction sites, warehouses,
factories, mines, oil rigs, refineries, railway
yards, ships, and ports. Various types of mobile
cranes include crawler cranes, rough-terrain
cranes, all-terrain cranes, truck loader cranes,
offshore cranes, ship cranes, mobile harbor
cranes, and automatic stacking cranes. The
cranes market for hydraulic cranes by operation
held the largest market size in 2016. Hydraulic
cranes are widely used for hoisting and moving
heavy materials in shipyards, warehouses, and
industrial workshops. Moreover, hydraulic cranes
are used in transport, manufacturing, and
construction industries. The retraction length of
hydraulic cylinders is 2040 of the fully
extended length. Therefore, telescopic hydraulic
cylinders are ideal for limited mounting space,
and a long stroke is required. The use of
hydraulic cranes is increasing owing to the space
constraint in different sectors such as shipping
material handling, assembly lines, and ports
and harbors. Electric-powered hoists held the
largest market share in 2016. Electric hoists, as
lifting tools, are convenient for industrial
production. Electric hoists are designed with an
electric motor that runs on electric supply.
Unlike hydraulic hoists, electric hoists are
economical, but they can be used only for
low-duty cycle applications. Electric hoists are
mostly used in sawmills, workshops, and
industrial factories. Electric hoist can work
automatically and can be operated with a remote
control.
3
In the hoists market, Asia Pacific held the
largest market share in 2016. The need for
increasing the production output without
compromising on quality standards has affected
the manufacturing sector in China. Manufacturers
and suppliers are facing challenges in terms of
the increasing labor cost and higher lead time
caused by manual processes. Hence, companies are
automating their processes, thereby driving the
hoist market in China. The growth in new and
retrofit infrastructure after the recession has
boosted the construction industry heavily. With
new development plans and projects, the use of
construction equipment is also growing. In the
construction industry, cranes are widely used
owing to their strength, performance, and
reliability. Along with tower cranes, crawler and
truck-mounted cranes also play a major role in
lifting and lowering of construction material in
construction sites. Crawler, rough-terrain, and
all-terrain cranes are also used in construction
sites for lifting prefabricated steel structures
for different kinds of residential and
nonresidential buildings. The mining industry has
led the hoist market with a substantial growth
rate and is expected to drive the hoists market
growth during the projected years. Mine hoists
are responsible for conveying, maneuvering, and
transporting ore materials through mine shaft and
among machinery parts. A mine hoist comes in
various shapes and sizes. Commonly, a single
machine is deployed to operate several mine
hoists.
4
Major players in the cranes and hoists market are
Konecranes (Finland), Cargotec (Finland), Terex
(US), Manitowoc (US), Tadano (Japan), Liebherr
(Switzerland), Ingersoll Rand (Ireland), Mammoet
(Netherlands), ZPMC (China), Kito (Japan), XCMG
(China), Zoomlion (China), and Columbus McKinnon
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