Valued to be $42 Billion by 2026, Hoists and Cranes Slated for Robust Growth Worldwide

SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hoists and Cranes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 1182
Companies: 63 - Players covered include Cargotec; Columbus McKinnon ; Ingersoll Rand ; Kito ; Konecranes ; Liebherr ; Mammoet ; Manitowoc ; Tadano ; Terex ; XCMG; Zoomlion ; ZPMC and Others.
Coverage: All major geographies and key segments
Segments: Type (Mobile Cranes, Fixed Cranes); Operation Type (Hydraulic, Electric, Hybrid); End-Use (Construction, Aerospace & Defense, Shipping & Material Handling, Mining, Automotive & Railways, Marine, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Hoists and Cranes Market to Reach $42 Billion by 2026
Amid the COVID-19 crisis, the global market for Hoists and Cranes estimated at US$32 Billion in the year 2020, is projected to reach a revised size of US$42 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. Mobile Cranes, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$33.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Fixed Cranes segment is readjusted to a revised 4.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $8.9 Billion in 2021, While China is Forecast to Reach $8.5 Billion by 2026
The Hoists and Cranes market in the U.S. is estimated at US$8.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.5 Billion by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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