Air Chain Hoists Market Size, Share, Growth, And Industry Analysis by Type (Light Duty, Medium Duty, Heavy Duty) by Application (Oil & Gas, General Industry, Construction, Mining & Excavating Operation & Others), Regional Forecast To 2031

Air Chain Hoists Market Report Overview

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global air chain hoists market size was USD 205.7 Million in 2021 and market is projected to touch 268.5 Million by 2031, exhibiting a CAGR of 2.7% during the forecast period.

Air chain hoists, sometimes referred to as pneumatic chain hoists, are a kind of lifting apparatus where the lifting mechanism is propelled by compressed air. In industrial and manufacturing environments where huge items need to be raised and transported, these hoists are frequently employed. A chain that is attached to a hook or other lifting mechanism and a motor that powers the chain to elevate the weight make up an air chain hoist. Compressed air is provided to the hoist by a hose or pipe and powers the engine. The ability of air chain hoists to swiftly and effectively raise huge objects is one of their benefits. The hoist can easily raise heavy items because to the reliable and potent energy source that compressed air offers. This makes them ideal for use in applications where speed and efficiency are important, such as in assembly lines and manufacturing plants.

During the past few years, the market for air chain hoists has experienced substantial expansion. Industrial lifting tools called air chain hoists use compressed air to raise and lower large items. These hoists are perfect for heavy-duty applications and are utilised in a variety of sectors, including manufacturing, transportation, and construction. The rising need for effective and affordable lifting solutions is one of the key factors propelling the air chain hoists market size. Air chain hoists are a popular option for enterprises looking for dependable and economical lifting solutions because of their great efficiency and low maintenance requirements.

COVID-19 Impact: The pandemic has led to the shutdown of manufacturing units and supply chain disruptions, causing a slump in demand for air chain hoists.

The industrial and construction industries, which have been badly impacted by the pandemic, are extremely important to the market for air chain hoists. Travel restrictions and social distance rules have caused many building projects to be put on hold and manufacturing activity to shrink, which has reduced the market for air chain hoists. Also, there has been a significant disruption in the global supply chain, which has an impact on the availability of the raw materials and components required to make air chain hoists. Due to the lockdowns and travel restrictions, there is a manpower shortage, which is delaying the manufacturing of air chain hoists. 

Sales of air chain hoists have decreased as a result of the COVID-19 pandemic's impact on consumer shopping habits. Customers are becoming more cautious and delaying their purchases of air chain hoists as a result of the economic unpredictability. The epidemic has presented hurdles, and producers of air chain hoists are looking for new tactics to stay competitive. Many are putting their efforts into creating new goods that are more effective, adaptive, and able to meet changing client expectations. To reach clients in new ways, manufacturers are increasingly investing in digital marketing and online sales platforms.

Latest Trends

"The Trend Towards Electric Hoists Is Among The Market For Air Chain Hoists' Most Prominent Developments"

Electric hoists are a great substitute for conventional air chain hoists, which run on compressed air. Electric hoists are driven by electricity and may be utilised in a broad range of industrial purposes, including building, manufacturing, and transportation. Efficiency is one of the main advantages of electric hoists. Electric hoists are the best choice for time-sensitive situations since they can raise weights more rapidly and easily than air chain hoists. Moreover, they use less energy than air chain hoists, which run on compressed air. Electric hoists' dependability is another benefit. Electric hoists are less likely to break down and require less maintenance since they have fewer moving parts than air chain hoists. Businesses that often employ hoists may benefit from considerable cost reductions as a consequence.

Also, compared to air chain hoists, electric hoists are more ecologically friendly. Compressed air is needed for air chain hoists, which can be produced by diesel engines or other fossil fuels. Electric hoists, on the other hand, run on electricity, which may be produced using sustainable resources like solar or wind energy. In the upcoming years, it is anticipated that the trend towards electric hoists will persist as technology develops and consumer demand for more effective and environmentally friendly hoisting solutions rises. Electric hoists are projected to overtake other hoisting options as they become more commonly used in industrial applications. 

Air Chain Hoists Market SEGMENTATION

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• By type

Depending on air chain hoists given are types: Light Duty, Medium Duty, Heavy Duty. The Light Duty type will capture the maximum market share through 2031.

• By Application

The market is divided in Oil & Gas, General Industry, Construction, Mining & Excavating Operation & Others based on application. The global air chain hoists market  players in cover segment like Oil & Gas will dominate the market share during 2021-2031.

Driving Factors

"Growing Need For Material Handling Equipment To Fuel The Expansion Of The Air Chain Hoists Market"

Due to the expansion of several industries, including construction, manufacturing, mining, and logistics, there has been an increase in the need for material handling equipment on a global scale. As air chain hoists are often employed in material handling activities, the market for them is anticipated to expand steadily over the coming years. The rising need for material handling equipment is one of the main factors driving the air chain hoists market growth. The need for innovative material handling technologies has grown as businesses look to maximize productivity and efficiency in their operations. Several businesses favour air chain hoists because of their large lifting capacity, minimal maintenance needs, and enhanced safety features.

Additionally, a large end-user of air chain hoists is the manufacturing sector. Transporting machinery, completed goods, and raw materials all require material handling equipment in this industry. The utilization of air chain hoists in the industrial sector is anticipated to increase with the rising demand for manufactured goods on a worldwide scale. Overall, it is anticipated that the market for air chain hoists would expand due to the rising need for material handling equipment across several sectors. The need for sophisticated and dependable material handling systems, like air chain hoists, will keep growing as businesses look to increase the effectiveness and productivity of their operations.

"The Expansion Of Offshore Oil And Gas Development Is Anticipated To Fuel The Market For Air Chain Hoists"

A key end consumer of material handling tools, such as air chain hoists, is the offshore oil and gas exploration sector. Air chain hoist demand is anticipated to increase over the next several years as a result of the industry's expansion. Specialized equipment that can endure severe temperatures, corrosive seawater, and high humidity levels is needed for offshore oil and gas exploration. Because they are built to function in these circumstances and are corrosion-resistant, air chain hoists are an excellent choice for these applications. Also, compared to other types of hoists, such as electric chain hoists, air chain hoists have a number of benefits. The air chain hoists market growth is anticipated to rise as a result of the expansion in offshore oil and gas exploration. Air chain hoists are the best option since the business needs specialised equipment that can survive challenging circumstances and adhere to rigid safety regulations. Air chain hoists' performance and dependability are being improved by manufacturers via research and development, which is helping the offshore oil and gas exploration sector adopt them more widely.

Restraining Factors

"The Few Uses For Air Chain Hoists May Be A Major Roadblock To Their Commercial Expansion"

The small number of applications available for air chain hoists is one of the main issues impeding their air chain hoists market growth. Heavy-duty industrial applications including mining, building, and manufacturing frequently employ air chain hoists. Although they perform well in these kinds of settings, they might not be as suitable for other uses. Air chain hoists, for instance, might not be the best choice for usage in smaller or more constrained environments. Also, under certain settings, such as those that are humid or outside, they could not be as effective as other types of hoists. This may restrict the market for these products as companies in these sectors might not see the value in purchasing air chain hoists. The size and weight of air chain hoists are additional factors that limit their use. Because to their size and weight, these gadgets might be cumbersome to move around and transport in some settings. This could prevent them from being used in fields where adaptability and mobility are essential. Moreover, air chain hoists may require more infrastructure than other types of hoists, such as compressed air systems, which can add to the total cost and complexity of their installation and operation. Their potential uses in sectors where such infrastructure is not easily accessible may likewise be limited as a result.

Air Chain Hoists Market Regional Insights

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"The North America Market Is Anticipated To Expand Significantly Over The Next Few Years As A Result Of Rising Demand From Various End-Use Industries And Product Technical Advances"

The air chain hoists market share in North America is anticipated to expand significantly during the next several years. The growing demand for air chain hoists from different end-use industries, including the automotive, industrial, and construction sectors, is the main factor driving the market. The demand for air chain hoists is rising as a result of its many advantages, including simplicity of use, high efficiency, low maintenance requirements, and affordability. Several elements have influenced how widely air chain hoists are used in the North American market. Also, the industrial industry's growing need for air chain hoists to raise big objects is fueling the market's expansion. Another significant end-user of air chain hoists is the building sector, and the expanding North American construction market is anticipated to fuel additional market expansion. The need for air chain hoists in the construction sector is anticipated to rise in response to the rising demand for infrastructure development projects including roads, bridges, and buildings. Moreover, air chain hoist technology advances have produced more effective and sophisticated goods, which are anticipated to fuel market expansion in the area. These developments have resulted in the creation of air chain hoists that can carry greater weights and are more robust and energy-efficient.

The air chain hoists market share in Europe has expanded significantly over the past several years, driven by an increase in the need for dependable and effective material handling equipment across sectors. With increased expenditures in industrial infrastructure and increasing levels of automation in manufacturing processes, the market is anticipated to maintain its development trajectory in the years to come. For lifting big weights, air chain hoists are often employed in a variety of sectors, including the automotive, construction, food and beverage, chemical, and pharmaceutical ones. In comparison to traditional electric hoists, these hoists have a number of benefits, such as a larger weight capacity, better control over raising and lowering speed, and improved durability under challenging working conditions. Also, the demand for air chain hoists in Europe has increased as a result of the expanding trend of industrial automation and the requirement for dependable and effective material handling solutions. In the upcoming years, it is anticipated that the market will continue to expand due to the incorporation of cutting-edge technologies like IoT, AI, and machine learning. The market is highly competitive, with several leading players such as KITO Europe GmbH, J.D. Neuhaus GmbH & Co. KG, Columbus McKinnon Corporation, and others competing for market share. These players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their position in the market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP AIR CHAIN HOISTS COMPANIES

• Columbus McKinnon (U.S)
• KITO (Japan)
• JD Neuhaus (Germany)
• Ingersoll Rand (U.S)
• Toku (Japan)
• Atlas Copco (Sweden)
• KHC (China)
• Endo-kogyo (Japan)
• Chengday (China)
• Shanghai yiying (China)
• Shanyan (Taiwan)
• PLANETA Hebetechnik (Germany)
• Changzhou Meiseng (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.