Los Angeles, CA -- (SBWIRE) -- 04/19/2019 -- A hoist is a mechanical device for lifting material, typically consisting of a rope or chain around a drum or wheel lift, and a hook for attaching payload.
A basic hoist is defined by two chief characteristics. The first is the lifting medium, which may be a wire rope wrapped around a drum or a chain raised by a pulley. The second is the type of power utilized by the hoist. Common power-sources are hydraulics, electricity, air driven motors, and, in the case of a manual hoist, muscle power.
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In the hoist market, high-end products are mainly produced by developed countries. China is the dominator of the middle and low end products. With its low price, hoist produced in China are popular around the world, especially in Southeast Asia, Africa, South America and the Middle East development countries and regions.
As the necessary industrial equipment, hoist can be used in every walk of life, including oil, petrochemical, petrol, oil depot, gas, chemical, military, electricity, mining, electronics, railway and other industries.
The global oil refinery market is expected to increase due to rising energy demand, evolving technology and new sources of the crude oil explored during the forecast period. And the oil refineries market is currently undergoing a significant reorientation, with demand moving away from the traditional strongholds of Europe and North America to other regions of the world. Growing demand from end-use industries around the world is expected to drive growth in the global petrochemical market over the next seven years. On the supply side, abundant raw material availability in the Middle East is expected to have a positive impact on growth of the petrochemical market. The shale gas boom in North America and rapidly expanding exploration & production activities in China are also likely to drive the global market.
The global Hoist market was 3240 million US$ in 2018 and is expected to 4180 million US$ by the end of 2025, growing at a CAGR of 3.2% between 2019 and 2025.
This report studies the Hoist market size (value and volume) by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The key manufacturers in this market include:
Zhejiang Wuyi Machinery
By the product type, the market is primarily split into:
By the end users/application, this report covers the following segments:
Marinas & Shipyards
Mining & Excavating Operation
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