Global Electric Hoist Market Report: Market Size Projected to Reach $6.9 Billion–$8.3 Billion by 2033–2035, with Leading Companies from Multiple Countries Competing Head-to-Head
Source: Verified Market Reports / Market Research Future
Figure : Report illustration—selected market participants in the electric hoist industry; does not indicate market share or ranking.
Image source: Verified Market Reports
Reports from various international market research firms indicate that the global electric hoist market was valued at approximately $4.2 billion to $5.9 billion between 2024 and 2025. The market is projected to expand at a compound annual growth rate (CAGR) of 3.5% to 6.0%, reaching a valuation range of $6.9 billion to $8.3 billion by 2033–2035 (with slight variations in calculation methodologies across agencies). These reports categorize the market by product type—specifically wire rope electric hoists and electric chain hoists—and further segment it by lifting capacity (e.g., under 500 kg, 501 kg to 1,000 kg, etc.). Application areas span industries such as construction, manufacturing, shipping and logistics, mining, and aerospace.
Key international manufacturers cited in the reports include Kito, Terex, Hitachi Industrial, Columbus McKinnon, Konecranes, Street Crane, Ingersoll Rand, ABUS, Imer International, TOYO, Gorbel, DAESAN, and Milwaukee Tool, as well as Verlinde (France) and LIFTKET (Germany). Also included are manufacturers from China and other parts of Asia—such as Li An Machinery, DL Heavy Industry, Nanyang Kairui, and Jiangsu Jiali—reflecting a globalized niche market where established brands from Europe, the US, Japan, and South Korea compete alongside emerging Asian manufacturers.
