The Hoist Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Hoist Market?
The hoist market has seen a robust growth in recent years. The market size is projected to increase from $2.42 billion in 2024 to $2.58 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Hoist Industry?
The Hoist market is projected to grow to $3.31 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%.
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What are the Key Growth Drivers Fueling the Hoist Market?
The drivers in the hoist market are:
• The rise in industrialization globally
• Substantial development and expansion of infrastructure
• More stringent safety regulations being implemented
• Expansion and growth of manufacturing sectors
• Ongoing surge in urbanization across the world
Global Market Segmentation: Identifying Major Hoist Industry Segments
The hoist market covered in this report is segmented –
1) By Product Type: Planetary Gear, Worm Gear, Other Product Types
2) By Hoist Rope: Chain Hoist, Wire Or Rope Hoist
3) By Operation: Hydraulic, Electric, Pneumatic, Manual
4) By Capacity: Up To 1000 Lbs., 1000 Lbs. To 2000 Lbs., 2000 Lbs. To 4000 Lbs., 4000 Lbs. To 6000 Lbs., 6000 Lbs. To 8000 Lbs., 8000 Lbs. To 10000 Lbs., 10000 Lbs. To 12000 Lbs., 12000 Lbs. To 16000 Lbs., Above 16000 Lbs.
5) By End-User Industry: Automotive And Railway, Aerospace And Defense, Transportation And Logistics, Construction, Shipping And Marine, Material Handling, Agriculture And Forestry, Mining, Oil And Gas, Other End-User Industries
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What are the emerging Trends Shaping the Future of the Hoist Market?
The trends in the hoist market are:
• Technological advancements in hoist systems are a significant emerging trend.
• The adoption and integration of smart technologies and IoT in the sector is becoming more prevalent.
• Enhancements in safety features of hoist equipment are increasingly important.
• Advancements in material handling systems are shaping the future of the hoist market.
Who Are the Top Competitors & Leading Players in the Hoist Market?
The major players in the hoist market are:
• ABB Ltd is a key player in the hoist market.
Regional Dominance: Which Area Leads the Global 2025 Hoist Market Report: Key Trends, Market Size & Future Projections Market?
North America was the largest region in the hoist market in 2023
