Market Forecast by Countries (United States, Canada), By Product Type (Planetary Gear, Worm Gear, Others), By Operation (Hydraulic, Electric, Pneumatic, Manual), By Hoist Rope (Chain Hoist, Wire or Rope Hoist), By Capacity (LBS) (Up to 1000 lbs, 1000 lbs to 2000 lbs, 2000 lbs to 4000 lbs, 4000 lbs to 6000 lbs, 6000 lbs to 8000 lbs, 8000 lbs to 10000 lbs, 10000 lbs to 12000 lbs, 12000 lbs to 16000 lbs), By Application (Commercial Recovery, Cranes, Fixed Cranes, Mobile Cranes, Workboats, Utility, Others (Military recovery, Stage maker, etc.)), By End-use (Automotive & Railway, Aerospace & Defense, Transportation & Logistics, Construction, Shipping & Marine, Material Handling, Agriculture & Forestry, Mining), By Distribution Channel (Direct Sales, Indirect Sales) And Competitive Landscape
Product Code: ETC437691 | Publication Date: Jun 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | North America Hoist Market |
Forecast Period | 2025-2031 |
Market Size | USD 2.3 billion |
CAGR | 4.1% |
Growing Sector | Automotive & Railway |
The North America Hoist Market report thoroughly covers the market by key segments, including Countries, Product Type, Operation, Hoist Rope, Capacity, Application, end-use industries, and distribution channels. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities, high-growth areas, and market drivers, helping stakeholders align their strategies with current and future market dynamics.
The North America Hoist Market is experiencing steady growth, driven by the increasing demand for material handling systems in industries like construction, transportation, and logistics. The market is projected to grow at a CAGR of 4.1% from 2025 to 2031, reaching USD 2.3 billion by the end of the forecast period. The rising demand for efficient lifting solutions in sectors such as mining, aerospace, and agriculture continues to drive the market. Additionally, technological advancements in hoist systems and the growing trend of automation in various sectors are also contributing to the market's expansion.
The North America hoist market synopsis covers a range of critical topics, including the current market trends, key drivers influencing growth, and the impact of technological advancements on hoist efficiency and safety. It also explores the competitive landscape, highlighting major players and their market strategies, as well as the regional demand across various industries such as construction, manufacturing, and mining. Additionally, the synopsis addresses challenges like regulatory constraints and fluctuating material costs, offering insights into opportunities for future market expansion. In recent years, the North American hoist market has been driven by the increasing demand for efficient and safe material handling solutions. With technological innovations such as remote control operation and advanced safety features, hoists are becoming a crucial component in various industries to improve productivity and minimize human error. This trend is expected to continue, as companies prioritize safety and efficiency in their operations.
According to 6Wresearch, the North America Hoist Market is anticipated to grow at a CAGR of 4.1% during the forecast period 2025-2031.The North America Hoist Market is primarily driven by the robust growth in the construction, automotive, and logistics sectors. Construction projects across the region require efficient hoisting solutions for lifting heavy materials, while the growing logistics industry demands reliable hoists for loading and unloading goods. Additionally, the increasing trend of automation in manufacturing and material handling is another key driver that is contributing to market growth. As more industries turn towards automated solutions for improved productivity, the demand for advanced hoisting equipment with integrated features like remote controls and load monitoring systems is expected to increase. This trend is reflected in the Topics Covered in the North America Hoist Market Growth.
However, challenges such as the high cost of advanced hoisting equipment and maintenance issues may hinder market growth. Hoists with advanced features, such as electric hoists and pneumatic hoists, require higher initial investments and may be less affordable for small- and medium-sized enterprises. Moreover, the maintenance and repair of hoists can be costly, especially for older models, which may pose a challenge for businesses looking to keep operational costs low. Additionally, safety concerns in industrial environments regarding hoist malfunctions or overloads present another challenge to the widespread adoption of hoist systems in some industries. The environmental regulations surrounding the manufacturing and use of hoists also pose a challenge for market players. As governments impose stricter environmental guidelines to reduce emissions and energy consumption, companies must invest in eco-friendly hoisting technologies to meet compliance requirements. This includes the adoption of energy-efficient systems and innovations aimed at minimizing the carbon footprint of hoisting operations. While these regulations offer long-term sustainability benefits, they also demand significant investments and technological upgrades, creating a barrier for some market players.
The increasing adoption of automation in industrial applications is one of the prominent trends shaping the North American hoist market. Automation in industries like manufacturing and logistics is driving the demand for hoisting systems equipped with advanced features like remote controls, wireless monitoring, and load sensors. These automated hoists are becoming essential in applications that require precision and reliability. The trend towards smarter, more connected hoists is expected to continue as industries seek ways to improve productivity and reduce human error in lifting operations.Another key trend is the growing use of energy-efficient hoists.
As industries face increasing pressure to reduce their carbon footprints, manufacturers are focusing on developing hoists that consume less power without compromising performance. Energy-efficient hoists, particularly electric and pneumatic models, are gaining popularity as they help businesses reduce operational costs while meeting sustainability goals. This shift towards energy-efficient equipment is expected to be a significant factor in the market's growth during the forecast period.
There are significant investment opportunities in the North America Hoist Market, particularly in the development of advanced hoisting solutions. With the growing demand for automation and energy-efficient equipment, businesses are looking for innovative hoist systems that integrate seamlessly into their existing infrastructure. Companies investing in research and development (R&D) to improve hoist technologies, such as creating lighter, more durable, and more energy-efficient systems, will be well-positioned to capitalize on these opportunities.
The expansion of industrial sectors such as construction, aerospace, and logistics presents further investment opportunities. As these sectors continue to grow, the need for reliable and advanced hoist systems will rise. Investors can benefit by targeting key industries in regions with a high concentration of construction projects and manufacturing hubs. Additionally, investing in aftermarket services, such as hoist maintenance and repair, is another area that holds significant potential, as hoist systems require regular maintenance to ensure optimal performance.
Some of the key players in the North America Hoist Market include Konecranes, Terex Corporation, Columbus McKinnon Corporation, and Ingersoll Rand. These companies are at the forefront of innovation in hoist technologies, providing advanced solutions to various industries. Their strong market presence and investment in R&D enable them to cater to the evolving needs of the material handling and construction sectors.
The North American hoist market is subject to strict government regulations regarding safety, environmental impact, and operational standards. In the United States, the Occupational Safety and Health Administration (OSHA) has established guidelines for the safe operation of hoists and lifting equipment. These regulations ensure that hoists are used in a manner that minimizes the risk of accidents and injuries in workplaces. Hoist manufacturers must ensure that their products meet OSHA's standards for safety, which include load testing, regular maintenance, and operator training. In addition to safety regulations, environmental laws in North America are pushing manufacturers to produce more sustainable hoists. The government has implemented various initiatives to reduce industrial energy consumption and minimize the carbon footprint of lifting equipment.
The North America Hoist Market is poised for continued growth, driven by ongoing technological advancements and the need for more efficient lifting solutions. The integration of smart technologies such as AI-powered load sensors, remote control systems, and predictive maintenance tools will enhance the efficiency and safety of hoist operations. These innovations will not only improve operational productivity but also reduce the risk of accidents, making hoists an essential tool for industries focused on safety and automation. The demand for energy-efficient hoists will remain a key driver of growth in the market. As industries seek ways to reduce energy consumption and operational costs, hoists that use less power and offer more precise load handling will gain popularity. The increasing emphasis on sustainability and the growing regulatory pressures on companies to adopt green technologies will further fuel the demand for eco-friendly hoisting solutions.
The report offers a comprehensive study of the following market segments and their leading categories
According to Ashutosh, Senior Research Analyst at 6Wresearch, the United States is expected to dominate the North American Hoist Market, accounting for around 75% of the market share by 2031. This is due to its advanced infrastructure, industrial growth, and large-scale construction projects. The U.S. market is projected to reach USD 3.8 billion by 2031, driven by the increasing demand for hoists across various industries, such as construction, material handling, and aerospace.
The Planetary Gear segment is projected to hold the largest share of the market, reaching USD 1.1 billion by 2031. Planetary gears are used in hoisting systems for their efficiency and compact design, allowing for smooth and reliable power transmission. Their demand is especially high in applications requiring high torque, such as cranes, material handling, and lifting equipment.
The Hydraulic operation segment is expected to lead the market with a market value of approximately USD 1.4 billion by 2031. Hydraulic hoists are preferred for heavy-duty applications such as cranes, commercial recovery, and workboats. Their ability to lift heavy loads efficiently makes them essential in industries like construction and mining.
The Cranes application segment is expected to continue leading the market, with a projected market value of USD 1.8 billion by 2031. Hoists used in cranes are essential for lifting and lowering heavy loads, particularly in construction, shipping, and infrastructure projects. The demand for hoists in the construction and logistics sectors is expected to increase due to ongoing growth in the global infrastructure industry.
The Automotive & Railway sector is expected to be the leading end-use segment of the North American Hoist Market, with a projected market value of USD 1.5 billion by 2031. Hoists are widely used for assembling, transporting, and repairing heavy vehicles and machinery in the automotive and railway industries. As automotive manufacturing continues to advance, the need for hoists to handle heavier loads in production facilities will remain strong, ensuring continued growth in this segment.
The report offers a comprehensive study of the subsequent market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Hoist Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Hoist Market Revenues & Volume, 2021 & 2031F |
3.3 North America Hoist Market - Industry Life Cycle |
3.4 North America Hoist Market - Porter's Five Forces |
3.5 North America Hoist Market Revenues & Volume Share, By Countries, 2021 & 2031F |
3.6 North America Hoist Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.7 North America Hoist Market Revenues & Volume Share, By Operation, 2021 & 2031F |
3.8 North America Hoist Market Revenues & Volume Share, By Hoist Rope, 2021 & 2031F |
3.9 North America Hoist Market Revenues & Volume Share, By Capacity (LBS), 2021 & 2031F |
3.10 North America Hoist Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.11 North America Hoist Market Revenues & Volume Share, By End-use, 2021 & 2031F |
3.12 North America Hoist Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 North America Hoist Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Hoist Market Trends |
6 North America Hoist Market, 2021 - 2031 |
6.1 North America Hoist Market, Revenues & Volume, By Product Type, 2021 - 2031 |
6.2 North America Hoist Market, Revenues & Volume, By Operation, 2021 - 2031 |
6.3 North America Hoist Market, Revenues & Volume, By Hoist Rope, 2021 - 2031 |
6.4 North America Hoist Market, Revenues & Volume, By Capacity (LBS), 2021 - 2031 |
6.5 North America Hoist Market, Revenues & Volume, By Application, 2021 - 2031 |
6.6 North America Hoist Market, Revenues & Volume, By End-use, 2021 - 2031 |
6.7 North America Hoist Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
7 United States Hoist Market, 2021 - 2031 |
7.1 United States Hoist Market, Revenues & Volume, By Product Type, 2021 - 2031 |
7.2 United States Hoist Market, Revenues & Volume, By Operation, 2021 - 2031 |
7.3 United States Hoist Market, Revenues & Volume, By Hoist Rope, 2021 - 2031 |
7.4 United States Hoist Market, Revenues & Volume, By Capacity (LBS), 2021 - 2031 |
7.5 United States Hoist Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 United States Hoist Market, Revenues & Volume, By End-use, 2021 - 2031 |
7.7 United States Hoist Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
8 Canada Hoist Market, 2021 - 2031 |
8.1 Canada Hoist Market, Revenues & Volume, By Product Type, 2021 - 2031 |
8.2 Canada Hoist Market, Revenues & Volume, By Operation, 2021 - 2031 |
8.3 Canada Hoist Market, Revenues & Volume, By Hoist Rope, 2021 - 2031 |
8.4 Canada Hoist Market, Revenues & Volume, By Capacity (LBS), 2021 - 2031 |
8.5 Canada Hoist Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Canada Hoist Market, Revenues & Volume, By End-use, 2021 - 2031 |
8.7 Canada Hoist Market, Revenues & Volume, By Distribution Channel, 2021 - 2031 |
9 North America Hoist Market Key Performance Indicators |
10 North America Hoist Market - Opportunity Assessment |
10.1 North America Hoist Market Opportunity Assessment, By Countries, 2021 & 2031F |
10.2 North America Hoist Market Opportunity Assessment, By Product Type, 2021 & 2031F |
10.3 North America Hoist Market Opportunity Assessment, By Operation, 2021 & 2031F |
10.4 North America Hoist Market Opportunity Assessment, By Hoist Rope, 2021 & 2031F |
10.5 North America Hoist Market Opportunity Assessment, By Capacity (LBS), 2021 & 2031F |
10.6 North America Hoist Market Opportunity Assessment, By Application, 2021 & 2031F |
10.7 North America Hoist Market Opportunity Assessment, By End-use, 2021 & 2031F |
10.8 North America Hoist Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
11 North America Hoist Market - Competitive Landscape |
11.1 North America Hoist Market Revenue Share, By Companies, 2024 |
11.2 North America Hoist Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |