The Construction Hoist consumption volume was 20351 Units in 2017 and is expected to reach 20888 Units in 2018 and 25234 Units in 2023, growing at a CAGR of 3.85% from 2018 to 2023. China`s sales volume accounted for the highest market share (44.03%) in 2017, followed by the Europe and North America. China is expected to maintain the largest production and consumption status.
The global Construction Hoist market is valued at 810 million US$ in 2017 and will reach 1010 million US$ by the end of 2025, growing at a CAGR of 2.9% during 2018-2025.
At present, the manufactures of Construction Hoist are concentrated in China, North America, Europe, Asia Pacific (Except China). China is the largest production area in the world, which occupied about 50% in 2017 by production volume. The following areas are Europe and North America. The global leading players in this market are Zoomlion, GJJ, Alimak, XL Industries, Hongda Construction, etc.
The Construction Hoist market is spited to three segments, the Construction Hoist with transportation capacity below 2 ton, 2-3 ton and above 3 ton. the Construction Hoist with transportation capacity below 2 ton dominated the market, accounting for 58.65% production market in 2017.
Despite the presence of competition problems, due to the increasing demand of construction machine and the governments support, investors are still optimistic about this area, the future will still have more new investment enter the field. In the next five years, the consumption volume will keep increasing, as well as the consumption value.