Global Chain Block Market growing at a CAGR of 5.7% from 2023 to 2030
Category : Machinery and Equipment | Published Date : Aug 2023 | Type : Press Release
Key Market Overview
The Global Chain Block Market is expected to reach USD 3,017.31 Million by 2030. The market, which was valued at USD 1,974.51 Million in 2022, is predicted to grow at a compound annual growth rate of 5.7% during the period 2023-2030.
The report highlights the increasing adoption of chain blocks in different sectors including construction, manufacturing, ports & shipping, and retail among others. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the market.
Global Chain Block Market By Overview
The report analyses significant segments such as operation, capacity, end-user, and region, to identify emerging trends and potential opportunities. The manual chain block segment is expected to grow during the forecast period owing to the benefits including affordability and durability. Additionally, manual chain blocks are used for a wide range of applications in retail, workshops, and warehouses among others.
Get Free SampleMarket Dynamics
Driver:
- Growing investment in infrastructure development is driving the demand for chain block
Restraints:
- Presence of alternatives inclduing hydraulic lifting system and robotics are restraining the market growth
Market Segmentation:
| Report Attributes | Report Details |
| By Operation | Manual, Electric, and Others |
| By Capacity | Up to 1 ton, 1 ton to 5 ton, and Over 5 ton |
| By End-User | Construction, Manufacturing, Retail, Agriculture, Ports & Shipping, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Columbus McKinnon Corporation, KITO CORPORATION, Konecranes, TBM, and Ingersoll Rand that have a strong market position in current market circumstances. Further, the Chain Block Market is expected to witness significant growth in coming years owing to the advancements in technology and growing manufacturing and construction industry. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the Chain Block Market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Columbus McKinnon Corporation
- KITO CORPORATION
- Konecranes
- Hitachi Industrial Equipment Systems Co., Ltd
- TBM
- Ingersoll Rand
- TOYOLIFT GROUP
- Shanghai Yiying Crane Machinery Co., Ltd.
- ABUS Kransysteme GmbH
- CHENG DAY MACHINERY WORKS CO., LTD.
- PLANETA-Hebetechnik GmbH
