Hoist Chains Market by Global Trends, Opportunities and Industry Forecast to 2025
Date: 2020-03-04   Author: Rahul Varpe  Category: #news

Hoist Chains Market by Global Trends, Opportunities and Industry Forecast to 2025

The Hoist Chains Market is set to grow from its current market value of more than $4.5 Million to over $9.5 Million, as reported in the latest study.

The Hoist Chains Market is projected to register a CAGR of 10% during the period 2018-2025.  The Hoist Chains Market report coverage is inclusive of various parameters such as the market size, regional growth opportunities, major vendors in the market, drivers and constraints, segmental analysis, as well as the competitive landscape.

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Owing to the flexibility, power and compact size, electric chain hoists are quite useful in wind energy turbines, not only helping to lift the turbines during construction, but also inside the turbines to help lift equipment, making the maintenance work easy. As such, vast wind farms, such as the Hornsea Project One being built near U.K., will deploy hoists in the construction phase as well as over the turbine’s lifecycle. The project is to be completed by 2020 and will be the biggest offshore wind farm in the world. Separately, TenneT from Netherlands has planned to build an artificial island around 100km off the Yorkshire coast in U.K. by 2027, which will house a mammoth wind farm capable of producing over 30 GW of power.

Reports have shown that worldwide, the electricity generation had increased by 2.8% in 2017, helped by the construction of numerous power plants in many countries and the uninterrupted supply of resources for electricity production. Rapidly expanding natural gas exploration projects have encouraged the setting up of new gas power stations in several regions, while the declining costs of erecting a solar or wind energy farm have strengthened the renewable energy sector. Hoists play an important role in lifting, erecting or moving components while building solar farms and windmills, and the growing number of renewable energy projects will extremely proliferate the hoist chains market.

Saudi Arabia also has an ambitious project in the pipeline to build a solar farm that is at least 100 times bigger than any existing ones and is expected to be completed by 2030. There are confirmed schemes in China and India as well to develop giant solar power plants to meet the fast mounting energy demand in the countries. In North America, a 500-acre solar farm has been proposed in the Hancock Country, Indiana, while a Canadian company has agreed to build the largest solar plant in the state of Texas and will complete the construction by 2019.

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Top Companies

RUD, Pewag, Gunnebo, Thiele, J.D.Theile, Parsons Chain, FEW Ketten Walder, Chaineries Limoujines, Weissenfels, Campbell, Retezarna, Peerless, Mckinnon Chains, ATLI, Juli Sling, Force Chain, Hangzhou Modern Lifting Machinery Works,

Hoist chains market, by end-user

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

This report contains detailed information pertaining to the consumption of the product as well as market share of the application, alongside the growth rate of every application segment.

The regional segmentation covers

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America (LATAM)
  5. Middle East

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What are the key highlights of this report?

  1. A well-detailed pricing analysis has been undertaken on the source of the product, application, as well as regional segments
  2. A detailed evaluation of the player matrix in tandem with the major firms that will help better understand the competitive situation in the global market
  3. Important insights pertaining to the regulatory scenario governing the market, in tandem with the investments poured in by numerous stakeholders in the global market
  4. A deep-dive evaluation of the myriad aspects pushing the overall market growth alongside their impact on the anticipation as well as dynamics of the global market
  5. A detailed roadmap that presents the many available growth opportunities in the global market as well as the identification of vital factors
  6. An intrinsic analysis of the myriad trends that prevail in the global industry which would help identify the numerous developments


About Author


Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. 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 online. ...

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