Radio Remote Control Equipment Market Size, Share, Growth And Industry Analysis By Type (Joy-Sticks, And, Push-Buttons) By Application (Industry & Logistics, Construction Crane, Mobile Hydraulics, Forestry Mining, And, Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Radio Remote Control Equipment Market REPORT OVERVIEW

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The global radio remote control equipment market size was USD 656.5 million in 2022 and market is projected to touch USD 942.4 million by 2031, at a compound annual growth rate (CAGR) of 4.1% during the forecast period.

Radio remote control equipments are basically electronic devices which are operated electronically. They help in regulating as well as controlling the EOT crane. Their key component includes a transmitter and a receiver. These are the two-way communication parts of the radio control equipments.

A lot of innovations have been observed in the market. All these developments have driven the market growth. These equipments are designed to increase and enhance the operator safety. This is considered as the latest trend in the market.

The driving factors of a market have a positive impact on the market. They propel the growth and the development of the market.  The radio remote control equipments help the workers to have control while operating the crane. They also save a lot of time while working. These are considered as the factor driving the market growth.

COVID-19 impact:  Decrease in the usage of the electronic devices During the pandemic Reduced the Market Growth

The pandemic of COVID-19 had a very bad impact on each and every industry. The sales of every market dropped due to the sudden decline in the demand for all the products all over the world. This happened due to many reasons like the rising health crisis across the globe, lockdowns, and, also the disruption in the supply of the logistics.

Radio remote control equipments are completely operated and dependent on electronic devices. The electronic market faced a tough time during the pandemic, due to the less consumption of the products by the consumers. The negative impact on the electronic market was reflected upon the global radio remote control equipments market growth. After the market recovered from the pandemic, there was tremendous growth that was observed.

LATEST TRENDS

"Enhanced operator safety to Increase the Market Growth"

Many new innovations keep on happening in the electronic device market. These changes have brought about a lot of improvement in the market. One such improvement of using radio remote control equipments is that it enhances the operator safety.

With the radio remote controls, the workers are not in the danger of getting exposed to harmful injuries. Also, these equipments help in saving a lot of time, and also improve the efficiency of the work being done. All of these factors are considered as the latest trend in the market.

Radio Remote Control Equipment Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments.

Joy-sticks, and, Push-buttons. The joy-stick segment is expected to lead the market during the forecast period.

• By Application:

Classification based on application is as follows:

Industry & logistics, construction crane, mobile hydraulics, forestry mining, and, others. The industry and logistics segment is the segment that is expected to lead the market during the forecast period.

DRIVING FACTORS

"Efficient Working of Radio Remote Equipments to Increase Market Growth"

These equipments are used very commonly in the material handling industry.  Especially when working with cranes and hoists these equipments are used. These equipments help the workers to be aware of their surroundings and ensure their safety. Also, it allows them to operate efficiently.

The radio remote control equipments help the workers to have control while operating the crane. Increased mobility is another added advantage. Any kind of damages are prevented with the help of this device. These factors have upgraded the market.

"Decreased Downtime While Operating These Equipments to Amplify Market Growth"

Pendants are very often used in the material handling industry. A lot of time this pendant tends to get damaged. When the pendant gets damaged a lot of time is wasted which results in downtime. In case if the equipment is not repaired the entire production process can stop.

But with the help of radio remote control equipments, the square transmitter can come into action and can help in solving the problem with less downtime. The transmitters are also protected from any kind of damage. These equipments are also very ideal for various types of applications. All these unique features of the equipments have increased the global radio remote control equipment market growth.

RESTRAINING FACTOR

"Less Sustainability of Batteries Used in These Equipments to Decrease the Market Growth"

The radio remote control equipments work on batteries and the batteries will have to be replaced every time it stops working. The batteries are less sustainable. Also, these remote-control devices are not compatible with class A and B types of cranes.  This can hamper the market growth.

A remote control is a device and hence it is prone to a lot of damages. The materials used are plastic and rubber which are easily exposed to any kind of damage. The transmitters are also at a risk of getting displaced. These are the factors restraining the market growth.  

Radio Remote Control Equipment Market Regional Insights

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"Asia Pacific to Dominate the Market During the Forecast Period"

Asia Pacific is the region that is predicted to dominate the market during the forecast period. It occupies more than one-fourth of the market share. Many counties in Asia Pacific are the leading producers as well as consumers of radio remote control equipment. Many factors have contributed in the rapid growth of the market in this particular region. Asia Pacific is becoming the world’s leading technology hub with several new innovations each and every day. Remote control equipments are integrated in many places to ensure the efficient working.  All of these factors have created lucrative opportunities for the global radio remote control equipment market share in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled  

• HBC
• Cattron Group
• Allgon
• Scanreco
• Hetronic Group
• Schneider Electric
• Autec
• OMNEX(Eaton)
• Danfoss
• JAY Electronique
• TELECRANE
• NBB
• Green Electric
• Wicontek
• Lodar
• Shize
• Shanghai Techwell Auto-control Technology
• 3-ELITE PTE

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. FAQs have also been given to outline the report.