SAN FRANCISCO, Dec. 3, 2019 /PRNewswire/ -- Global Construction Hoist Market is projected to grow considerably in the forecast period due to the increase in construction activities. Construction hoist is an equipment used in the construction for lifting and lowering loads. They are robust machines, durable enough to survive extreme construction site conditions. It can either be operated manually, electrically, and the wire or rope fibers. The carrying load is lifted or lowered by the means of a hook. The key drivers of construction hoist market are increasing industrialization on the global scale in developing economies, increase in applications in transport platforms, work platforms, and service elevators, and transporting building materials and goods on the construction site. Additionally, increase in new plans and projects for the construction of various structures in both developing and developed economies is also driving the market growth.

Growing construction of skyscrapers is trending in the construction hoist market. Despite intense competition due to government support, demand for construction equipment, market is predicted to witness lucrative opportunities in future. This can be attributed to more potential investment from market players. Construction hoist market is categorized on the basis of hoist type, product type, application, end use, and geography. Based on type, market is divided into electric hoists, manual hoists, air hoists, hydraulic hoists, and others. Hydraulic and electric hoists are expected to hold larger share of the market in the forecast period. Air hoists also lead the market in future.

Based on product type, the market is divided into below 2 ton, 2-3 ton, and above 3 ton. Below 2 ton construction hoists segment accounts for significant share of the market owing to its high efficiency in comparison to others. In terms of application, construction hoist market is divided into construction sites, factories, mining and excavation operations, marine and shipyards, warehouse, and others. Factories segment is predicted to lead the market owing to the increase in application in factories. Construction sites segment is also expected to lead the market due to increase in number of construction activities from the residential segment. Based on end use, construction hoist market is divided into residential, industrial, and commercial. Commercial segment is predicted to lead the market in the forecast period owing to increasing urbanization, developing construction industry, and industrialization.

Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market due to high adoption of construction hoists in construction industry, improving industrialization, and growing investments for improvements. The top players in construction hoist market are Fangyuan, GJJ, XL Industries, Alimak, SYS, Hongda Construction, XCMG, Guangxi Construction, Zoomlion, Sichuan Construction, Dahan, Becker, BetaMax, GEDA, STROS, Jaypee, China State Construction, ELECTROELSA, and Zhejiang Construction Machinery Group. The global Construction Hoist market was valued at $11050 million in 2017, and Radiant Insights analysts predict the global market size will reach $18650 million by the end of 2028, growing at a CAGR of 4.87% between 2017 and 2028.

Access 118 page research report with TOC on "Construction Hoist Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/2013-2028-report-on-global-construction-hoist-market

This report provides detailed historical analysis of global market for Construction Hoist from 2013-2018, and provides extensive market forecasts from 2018-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Construction Hoist market.

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