Compressed Air Hoists Market Report, By Product Type (Piston Hoists, Vane Hoists, Gear Hoists, Others), By Capacity (Up to 1 Ton, 1-5 Tons, 5-10 Tons, above 10 Tons), By End User Industry (Manufacturing, Construction, Oil and Gas, Mining, Automotive, Aerospace and Defense, Others), and Regions 2024-2032

Market Overview:

The global compressed air hoists market size reached US$ 29.7 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 45.3 billion in 2032, exhibiting a growth rate (CAGR) of 4.8% during 2024-2032.

Compressed air hoists are industrial lifting devices that utilize compressed air as a power source to lift and move heavy loads. The primary function of these hoists is to provide efficient and reliable lifting capabilities in various industrial settings. Compressed air hoists are important because they offer several advantages, including high lifting capacities, precise load control, and enhanced safety features.

These are commonly used in manufacturing facilities, construction sites, warehouses, and other industries for lifting heavy loads. Factors driving demand and preference for compressed air hoists include durability, ease of operation, suitability for hazardous environments, and ability to provide smooth and controlled lifting motions.

The global compressed air hoists market is registering steady growth due to increasing demand for efficient and safe lifting solutions in various industries. Market revenue growth is driven by factors such as the growth of manufacturing and construction sectors, stringent safety regulations, and the need for reliable material handling equipment. Consumption of compressed air hoists is growing as industries are aware of product benefits in terms of load capacity, precise control, and durability.

Service providers in the market offer maintenance and repair services to ensure optimal performance of the hoists. Advancements in technology are leading to development of innovative features, such as remote-control operation and intelligent load monitoring. Industry initiatives and compliance with safety standards are further supporting the revenue growth of the market. Analysis and insights into market trends, competitive landscape, and customer preferences provide valuable information for market players to make informed business decisions.

Compressed Air Hoists Market Report Overview:

The global compressed air hoists market research report provides comprehensive insights into driving factors, restraints, opportunities, and trends, with provision of in-depth supporting information, data, and statistics and actionable insights. Though covered and provided extensively across the report, the data and information format are simple, yet dynamic in order to ensure ease of reading and understanding, as well as presenting and maximizing leverage and use.

Revenues and market share are provided in detail for previous years in order to showcase the evidence upon which our estimations and forecasts are based. Revenue growth rates and differences, as well as comparisons and relatable data are provided to further support all findings. Data points are provided for each year – from historical to end of forecast period – and this format is followed for each segment region and respective countries, as well as sub-segments and others.

Vital details of major companies in the market are provided in the company profile section of the report. Cover includes financials, recent developments, research & development, strategies, product launches, agreements, expansion, mergers & acquisitions, and others. 

The global compressed air hoists market research report is segmented on basis of product type, capacity, end-use industry, sales channel, and regions and countries. Regional segmentation includes North America (United States and Canada); Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe); Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific); Latin America (Brazil, Mexico, Argentina); Middle East & Africa (Saudi Arabia, South Africa, United Arab Emirates, Israel).

Compressed Air Market Trends and Drivers:

Increasing industrialization and infrastructure development: Growth of industries such as manufacturing, construction, and mining is driving compressed air hoists market demand. These hoists offer efficient and safe lifting solutions, contributing to increased productivity and operational efficiency.

Focus on workplace safety: Emphasis on workplace safety regulations and standards, resulting in high demand for compressed air hoists due to reliable and precise control, ensuring safe lifting operations and reducing the risk of accidents and injuries. This is leading to increasing adoption of compressed air hoists across various industries.

Technological advancements: Advancements in compressed air hoist technology, such as integration of remote-control operation, load monitoring systems, and automation capabilities, help to enhance performance, efficiency, and ease of use of hoists is further driving adoption in various applications.

Growing demand for lightweight and portable hoists: Need for portable and lightweight lifting equipment is increasing in industries that require flexibility and mobility. Compressed air hoists, with compact design and ease of transportation, are preferred in applications where frequent movement is required.

Growth of end-use industries: Growing manufacturing, construction, and energy sectors across regions is creating significant opportunities for players in compressed air hoists market. As these industries grow, demand for efficient material handling solutions, including compressed air hoists, is expected to increase.

What Factors Are Restraining Growth of Compressed Air Hoists Market?  

Revenue growth of the global compressed air hoists market is restrained by various factors, some of which are provided in some detail below:

High initial investment: Compressed air hoists business require higher initial cost compared to other types of hoisting equipment business. This can be a barrier to adoption, especially for small and medium-sized businesses with limited budgets.

Maintenance and operational costs: Compressed air hoists require regular maintenance and servicing to ensure optimal performance and safety. Associated maintenance and operational costs can be significant, which could be challenging for cost-conscious organizations.

Limited load capacity: Compressed air hoists typically have a lower load capacity compared to other types of hoists, such as electric hoists. This limitation can restrict suitability of the product for applications that require heavy lifting or handling of bulky loads.

Availability and accessibility of compressed air: Use of compressed air hoists is dependent on availability of compressed air sources. In some remote or specialized environments, providing a reliable and sufficient supply of compressed air may be challenging, limiting use of these hoists.

Environmental considerations: Compressed air hoists generate noise and require proper ventilation for safe operation. These factors may need to be addressed to comply with occupational health and safety regulations and minimize environmental impact.

What are the Opportunities for Leading Compressed Air Hoists Manufacturers?  

Companies operating in the global compressed air hoists market can leverage various opportunities and revenue streams to drive growth and profitability. Below are some avenues and insights:

Industrial growth and infrastructure development: Growing industrial sector, particularly in emerging economies, is driving demand for compressed air hoists. As industries are growing and number of ongoing infrastructure projects are increasing, there is a need for efficient and reliable hoisting equipment, thereby creating revenue opportunities for companies in the market.

Replacement and modernization of existing equipment: Various industries are looking to replace outdated or inefficient hoisting equipment with newer, more advanced solutions. This presents an opportunity for compressed air hoists to cater to demand for modernization and upgrade projects.

Focus on worker safety and ergonomics: Increasing emphasis on workplace safety and ergonomics, is creating high demand for hoisting solutions that prioritize operator well-being. Compressed air hoists, known for their ergonomic design and ease of use, are preferred in industries for worker safety.

Growing adoption in niche applications: Compressed air hoists are used in applications in various industries, including automotive, manufacturing, construction, and offshore sectors. There is an opportunity for market players to explore niche sectors and applications where compressed air hoists can offer unique advantages and cater to specific needs.

Technological advancements and product innovation: Continuous advancements in technology is leading to development of more efficient and reliable compressed air hoists. Manufacturers that invest in research and development to introduce innovative features and improved performance are expected to have a competitive edge and capture larger market share.

What are the factors driving the compressed air hoists market growth in North America region?

North America market is expected to account for significantly large revenue share in the global market during the forecast period. In North America, significant demand for compressed air hoists in countries such as the United States and Canada due to robust industrial sector in the region, and increased manufacturing activities, infrastructure development projects, focus on worker safety, government initiatives promoting industrial growth and safety standards are factors revenue growth of the market in this region.

What generates compressed air hoists demand in Europe?

Europe market is expected to account for substantially large revenue share in the global market during the forecast period. High demand for the product in countries such as Germany, France, and the UK, well-established manufacturing and automotive industries, stringent safety regulations, technological advancements, and preference for efficient hoisting equipment are factors driving revenue growth of the market in this region. Also, government initiatives aimed at promoting sustainable industrial practices are further driving revenue growth of the market in this region.

What are the factors contributing to the significant of Asia Pacific compressed air hoists market?

Asia Pacific market is expected to register significantly high revenue growth rate in the global market during the forecast period. Asia Pacific, with countries such as China, Japan, and India, register rapidly growing compressed air hoists market. This is due to factors such as increasing industrialization, infrastructure development, and rising adoption of advanced manufacturing technologies. Also, growing consumer preference for ergonomic and safe hoisting solutions, and government initiatives to support industrial growth are contributing to revenue growth of the market in this region.

What are the aspects that are driving the compressed air hoists unit sales in Latin America?  

Latin America market is expected to account for moderate revenue share in the global market during the forecast period. Growing demand for compressed air hoists, due to infrastructure projects, manufacturing activities, and growing oil and gas sector are major factors driving revenue growth of the market in this region. In addition, factors including increasing investments in industrial development, adherence to safety regulations, technological advancements, government initiatives aiming at promoting economic growth and attracting investments are factors supporting revenue growth of the market in this region.

What is the stance on compressed air hoists market in Middle East and Africa?

Middle East & Africa market is expected to register steady revenue growth rate during the forecast period. In the Middle East & Africa, infrastructure development, increasing number of construction activities, and growing oil and gas operations are factors driving revenue growth of the market in this region. In addition, growing industrial sectors, rising awareness of worker safety, and government initiatives promoting industrial development are expected to continue to drive revenue growth of the market in this region.

Leading Compressed Air Hoists Manufacturers & Competitive Landscape:

The global compressed air hoists market features a landscape with several key players operating in the industry. These companies strive to maintain their market position and gain a competitive edge through strategies such as product innovation, mergers and acquisitions, and collaborations. They focus on offering a wide range of high-quality compressed air hoists, catering to diverse industrial applications. The competitive landscape is characterized by intense competition, technological advancements, and a strong emphasis on meeting customer demands for reliable and efficient hoisting solutions.

Company List:

• Ingersoll Rand
• Kito Corporation
• Columbus McKinnon Corporation
• J.D. Neuhaus
• Harrington Hoists, Inc.
• JET Tools
• Konecranes
• Tiger Lifting
• Stahl CraneSystems
• Liftket Hoffmann Group
• TorqHoist
• Budgit Hoists
• Demag Cranes
• Yale Hoists
• Toku Pneumatic Co., Ltd.

 

Research Scope:

 

Report Metric	Report Details
Market size available for the years	2021-2032
Base Year	2023
Forecast Period	2024-2032
Compound Annual Growth Rate (CAGR)	4.8%
Segment covered	Product Type, Capacity, End User Industry, Sales Channel and Region
Regions Covered	North America:  The U.S. & Canada   Latin America: Brazil, Mexico, Argentina, & Rest of Latin America    Asia Pacific: China, India, Japan, Australia & New Zealand, South Korea, ASEAN, & Rest of Asia Pacific    Europe: Germany, The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe   The Middle East & Africa:  Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, and Rest of MEA
Fastest Growing Country in Europe	Germany
Largest Market in Asia Pacific	China
Key Players	Ingersoll Rand, Kito Corporation, Columbus McKinnon Corporation, J.D. Neuhaus, Harrington Hoists, Inc., JET Tools, Konecranes, Tiger Lifting, Stahl CraneSystems, Liftket Hoffmann Group, TorqHoist, Budgit Hoists, Demag Cranes, Yale Hoists, Toku Pneumatic Co., Ltd.

Market Segmentation:

By Product Type:

• Piston Hoists
• Vane Hoists
• Gear Hoists
• Others

 

By Capacity:

 

• Up to 1 Ton
• 1-5 Tons
• 5-10 Tons
• Above 10 Tons

 

By End-Use Industry:

 

• Manufacturing
• Construction
• Oil and Gas
• Mining
• Automotive
• Aerospace and Defense
• Others

 

By Sales Channel:

 

• Direct Sales
• Distributor/Dealer Network

 

Market Segmentation By Region:

 

North America

• United States
• Canada

 

Europe

 

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

 

Asia Pacific

 

• China
• Japan
• India
• South Korea
• Rest of Asia Pacific

 

Latin America

 

• Brazil
• Mexico
• Argentina

 

Middle East & Africa

 

• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Egypt