Hoist Controller Market Report

Market Insights

Hoist Controller Market is likely to witness a CAGR of 3.9% during the forecast period. Hoist controller refers to a device that is employed for lifting a load by means of a lift-wheel around which a chain is warped. It is mainly operated electrically and can be controlled by two main methods, i.e. wireless and wired. In addition, it is a machine that governs the movement of hoists. The hoist controller market is likely to be driven by rising demand for various types of hoists in non-residential and residential construction.

Segments' Analysis

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Hoist Controller Market Share: By Type

Based on the type, the market is segmented as handheld and automatic. The handheld hoist controller market is expected to capture more than 90.9% share of the market revenue during the forecast period. The growth of handheld hoist controllers can be attributed to their operative easiness. On the other hand, finding very few applications in any type of industrial or manufacturing sector, automatic hoist controllers are preferred for recreational use.

Hoist Controller Market Share: By Hoist Type

Based on the hoist type, the market is segmented as electric and hydraulic. Electric hoists are expected to lead the market during the forecast period as they can be controlled by both handheld and automatic controllers, whereas hydraulic hoists can be operated only by handheld controllers. The demand for hoist controllers for use in electric hoists occupied a whopping share of over 97% in 2020, and this is likely to increase at a CAGR over 3.0% over the forecast period. Electric hoists are experiencing a significant growth in the developed economies, despite being expensive. This demand will further increase due to the growing manufacturing sector in the coming years.

Hoist Controller Market Share: By End-User Type

Based on the end-user type, the market is segmented as automotive, cement, chemical, construction, marine, metal processing, and others. The cement end-user industry owns the highest share of the handheld hoist controller market, followed by metal processing, automotive, and construction end-users. This is due to an increase in product demand for metal processing operations that involve a lot of material handling.

Hoist Controller Market Share: By Region

In terms of regions, Asia-Pacific held a major share of the market for hoist controllers in 2020, and is expected to reflect its significant growth during the forecast period. The region’s growth is majorly due to the increasing industrialization in the economies such as China and Japan. On the other hand, North America was the second-largest market in 2020, and is also estimated to offer sizeable growth opportunities, over the forecast period, on account of the established material handling business in both The United States and Canada.

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Market Scope & Segmentation

Hoist controller refers to a device that is employed for lifting a load by means of a lift-wheel around which a chain is warped. It is mainly operated electrically and can be controlled by two main methods, i.e. wireless and wired. In addition, it is a machine that governs the movement of hoists.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The hoist controller market is segmented into the following categories.

 Hoist Controller Market Size, Share, & Forecast, by Type:

• Handheld (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automatic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

 Hoist Controller Market Size, Share, & Forecast, by Hoist Type:

• Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Hydraulic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

 Hoist Controller Market Size, Share, & Forecast, by End-User Type:

• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Cement (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Chemical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Metal Processing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

 Hoist Controller Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the hoist controller market are-

• Schneider Electric
• Speed-O-Controls
• Conductix-Wampfler USA
• The Rowland Company
• Uesco Cranes
• Hoosier Crane Service Company
• Demag Cranes & Components Corp.
• Eastern Electric Corporation
• Magnetek Inc.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].