Global Hand Chain Hoist Market Overview:
A hand chain hoist is also known as a chain hoist which is a mechanism used in lifting and lowering heavy loads using a chain. It contains two wheels which are wounded around the chain and when the chain is pulled it winds around the wheel to lift the items. These hand chain hoists are good for vertical loads as their capacity is more, it doesn't require electricity or any kind of power.
Growth Drivers
- Growing Demand for Hoists for Handling Vertical Loads
- Need for Portable Chain Hoist which Doesn't Use any Electric Source
Roadblocks
- Problems with its Noisy Operation
- Issues in Case of Horizontal Weight Handling Associated with Hand Chain Hoist
Opportunities
- Surging Demand for Hand Chain Hoist from Marinas and Shipyards for Carrying Vertical Loads
Challenges
- Stiff Competition in the Hand Chain Hoist Market
Competitive Landscape:
Some of the key players profiled in the report are Kito Corp. (Japan), Terex Corporation (United States), Hitachi Industrial Equipment Systems Co., Ltd (Japan), Street Crane Co Ltd (United Kingdom), Trane Technologies plc (Ireland), Imer International Spa (Italy), Daesan Inotec Co., Ltd (South Korea), Milwaukee Electric Tool Corporation (United States), Columbus McKinnon Corporation (United States), Gorbel Inc. (United States), Etablissements Verlinde (France) and Konecranes Oyj (Finland). Considering Market by Sales Channel, the sub-segment i.e. Industrial Retail will boost the Hand Chain Hoist market. Considering Market by Weight, the sub-segment i.e. 1 Ton will boost the Hand Chain Hoist market.
Latest Market Insights:
On 1st July 2020, Kito Corporation (KITO) acquired through its wholly-owned subsidiary Kito Europe GmbH all remaining shares of the Dutch company Van Leusden B.V. Since April 2018, 37.5 % of the shares have been held by the Japanese hoist and crane manufacturer KITO.
On 25th April 2018, Columbus McKinnon Corporation, a leading designer, manufacturer, and marketer of motion control products, technologies, and services for material handling, has expanded its offering of the unique CM Hurricane 360° hand chain hoist to include new 15 and 20-ton capacity units as well as a full line of army-type, integrated trolley models.
What Can be Explored with the Hand Chain Hoist Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hand Chain Hoist Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hand Chain Hoist
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hand Chain Hoist market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hand Chain Hoist market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Hand Chain Hoist Manufacturers, Hand Chain Hoist International Traders, Hand Chain Hoist Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.