Construction Hoist Market Trends and Forecast
The future of the global construction hoist market looks promising with opportunities in the residential, commercial, and industrial markets. The global construction hoist market is expected to reach an estimated $1.2 billion by 2030 with a CAGR of 5.6% from 2024 to 2030. The major drivers for this market are rising focus on high-rise building construction, growing adoption of prefabricated construction, and increasing preference towards modular construction.
• Lucintel forecasts that below 2 ton is expected to witness the highest growth over the forecast period.
• Within this market, residential is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Construction Hoist Market
• United States: Alimak Group announced the launch of a new construction hoist model, targeting improved safety and efficiency. The government is investing in infrastructure projects, boosting demand for advanced construction hoists.
• Germany: GEDA GmbH introduced an eco-friendly construction hoist, aiming to reduce carbon emissions. The government supports green construction initiatives, aligning with the EUÄX%$%Xs climate targets.
• China: Zoomlion Heavy Industry set a target to increase production of high-capacity construction hoists by 20% by 2025. Government infrastructure projects, including new urban developments, are driving market growth.
• India: ElectroMech Material Handling Systems launched a new range of construction hoists designed for high-rise buildings. The government announced incentives for using advanced construction technologies in smart city projects.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Construction Hoist Market by Segment
The study includes a forecast for the global construction hoist market by type, application, and region.
Construction Hoist Market by Type [Value from 2018 to 2030]:
• Below 2 Ton
• 2-3 Ton
• Above 3 Ton
Construction Hoist Market by Application [Value from 2018 to 2030]:
• Residential
• Commercial
• Industrial
Construction Hoist Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Construction Hoist Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies construction hoist companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the construction hoist companies profiled in this report include-
• GJJ
• Alimak
• XL Industries
• Hongda Construction
• XCMG
• Fangyuan
• Guangxi Construction
Recent Development in the Construction Hoist Market
• Alimak Group AB: Alimak Group AB recently launched their latest hoist series, the Alimak Scando 650, which features advanced safety and energy-efficient technologies. The new series aims to enhance productivity and safety on construction sites with improved load capacities and faster installation times.
• Geda GmbH: Geda GmbH announced the development of a new construction hoist model, Geda Multilift P18, designed to handle heavy loads with enhanced stability. This model is particularly suitable for large-scale construction projects and aims to reduce downtime and operational costs.
• STROS - Sedlčanské strojírny, a.s.: STROS has introduced a new range of modular construction hoists, the NOV 2032 series, which allows for flexible configurations to meet various project requirements. This innovation focuses on increasing versatility and ease of maintenance in construction hoisting solutions.
• XL Industries: XL Industries has expanded its product line with the introduction of the XL-Tower Hoist, featuring a high-capacity motor and advanced safety features. This new product is aimed at improving efficiency and safety in high-rise construction projects.
• Zoomlion Heavy Industry Science & Technology Co., Ltd.: Zoomlion unveiled its latest construction hoist model, the Zoomlion ZS series, which includes smart control systems and enhanced load-bearing capabilities. The new series is designed to support rapid construction processes while ensuring high safety standards.
Features of the Global Construction Hoist Market
Market Size Estimates: Construction hoist market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Construction hoist market size by type, application, and region in terms of value ($B).
Regional Analysis: Construction hoist market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the construction hoist market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the construction hoist market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the construction hoist market size?
Answer: The global construction hoist market is expected to reach an estimated $1.2 billion by 2030.
Q2. What is the growth forecast for construction hoist market?
Answer: The global construction hoist market is expected to grow with a CAGR of 5.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the construction hoist market?
Answer: The major drivers for this market are rising focus on high-rise building construction, growing adoption of prefabricated construction, and increasing preference towards modular construction.
Q4. What are the major segments for construction hoist market?
Answer: The future of the construction hoist market looks promising with opportunities in the residential, commercial, and industrial markets.
Q5. Who are the key construction hoist market companies?
Answer: Some of the key construction hoist companies are as follows:
• GJJ
• Alimak
• XL Industries
• Hongda Construction
• XCMG
• Fangyuan
• Guangxi Construction
Q6. Which construction hoist market segment will be the largest in future?
Answer: Lucintel forecasts that below 2 ton is expected to witness the highest growth over the forecast period.
Q7. In construction hoist market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the construction hoist market by type (below 2 ton, 2-3 ton, and above 3 ton), application (residential, commercial, and industrial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Construction Hoist Market, Construction Hoist Market Size, Construction Hoist Market Growth, Construction Hoist Market Analysis, Construction Hoist Market Report, Construction Hoist Market Share, Construction Hoist Market Trends, Construction Hoist Market Forecast, Construction Hoist Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.