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From an initial valuation of $1,974.71 million in 2024, the Chain Block Market is projected to rise at a CAGR of 7.7 percent, reaching over 3,017.41 million by 2031.
A mechanical device that can lift large objects is the chain block, which is also called a chain hoist. A system of pulleys and gears are wound around a high-strength steel chain to form the chain block. The construction, industrial, shipping, and retail sectors are just a few of the many that frequently employ chain blocks. Chain blocks are commonly utilized with overhead cranes in industrial settings to make lifting operations easier.
The demand for chain blocks is being driven in large part by the rising investment in infrastructure construction. Bridges, highways, roadways, and port infrastructure projects necessitate the use of heavy machinery and equipment for lifting and moving. For example, from April 2020 to September 2023, a total of USD 26.23 billion was invested in the building sector, which comprises housing, townships, and built-up infrastructure, as reported by the India Brand Equity Foundation. Additionally, USD 28.95 billion was spent on infrastructure construction by FDI during the same time. Chain blocks are in high demand because to the country's increasing investment in infrastructure development. In addition, chain blocks offer dependable and effective lifting solutions in the construction industry, making chain an integral aspect of the infrastructure and building sectors.
Another factor propelling chain block demand is the expanding middle class in Asia and the Pacific, particularly in nations like Vietnam, China, and India. The Asian Development Bank's report "Meeting Asia’s Infrastructure Needs" estimates, for example, that developing Asian nations will require an investment of USD 26 trillion between 2016 and 2031. Huge demand for chain blocks is anticipated as a result of the increasing need for investment in the Asia Pacific area.
The hydraulic system provides an alternate means of lifting for industrial applications, allowing for the controlled and precise handling of big weights. When a constant and smooth lifting motion is needed, the lifting system is frequently employed. The demand for chain hoists is being further affected by the increasing trend of automation in many sectors. Robots in the manufacturing sector automate material handling and can effortlessly move larger objects.
Additionally, robotic arms can manage complicated tasks and repetitive lifting operations without human assistance. The use of robotics and hydraulic lifting devices both improve the accuracy and efficiency of material handling. On top of that, the systems can be seamlessly incorporated into production lines, which means more output with less downtime. Robots and hydraulic lifting systems are two alternatives to chain blocks that could slow down the market.
Material handling equipment, such as pulleys and chain blocks, is in high demand due to the expanding manufacturing sector. Heavy components or raw materials are typically lifted and moved using chain blocks in the manufacturing business. In addition, many Asian nations, like Vietnam, China, and India, have been rapidly urbanizing and industrializing in recent decades. Demand for chain blocks is being propelled in part by the uptick in manufacturing in Asia. As an example, the percentage of world industrial production attributable to China rose from 22.5% in 2012 to 30% in 2021 (China State Council Information Office).
Growing consumer interest in the items is the primary force propelling the industry forward. The spread of the coronavirus pandemic has impacted the key elements that drive the industry. Worldwide, the sector has felt the effects of the lockdown and the social distance that followed. As a result of societal constraints around the world, product demand has dropped, and the market is expected to expand at a modest pace during the projected period.
Report Coverage
Global Chain Block research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Chain Block report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Chain Block competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Chain Block market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Chain Block market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Chain Block market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Chain Block market based on the below-mentioned segments:
Global Chain Block Market, By Type
Manual Chain Blocks
Electric Chain Blocks
Others
Global Chain Block market, By Application
Factories and warehouse
Construction Sites
Marine & Ports
Mining & Excavating Operation
Energy
Others
Global Chain Block market, Regional Analysis
A mechanical device that can lift large objects is the chain block, which is also called a chain hoist. A system of pulleys and gears are wound around a high-strength steel chain to form the chain block. The construction, industrial, shipping, and retail sectors are just a few of the many that frequently employ chain blocks. Chain blocks are commonly utilized with overhead cranes in industrial settings to make lifting operations easier.
The demand for chain blocks is being driven in large part by the rising investment in infrastructure construction. Bridges, highways, roadways, and port infrastructure projects necessitate the use of heavy machinery and equipment for lifting and moving. For example, from April 2020 to September 2023, a total of USD 26.23 billion was invested in the building sector, which comprises housing, townships, and built-up infrastructure, as reported by the India Brand Equity Foundation. Additionally, USD 28.95 billion was spent on infrastructure construction by FDI during the same time. Chain blocks are in high demand because to the country's increasing investment in infrastructure development. In addition, chain blocks offer dependable and effective lifting solutions in the construction industry, making chain an integral aspect of the infrastructure and building sectors.
Another factor propelling chain block demand is the expanding middle class in Asia and the Pacific, particularly in nations like Vietnam, China, and India. The Asian Development Bank's report "Meeting Asia’s Infrastructure Needs" estimates, for example, that developing Asian nations will require an investment of USD 26 trillion between 2016 and 2031. Huge demand for chain blocks is anticipated as a result of the increasing need for investment in the Asia Pacific area.
The hydraulic system provides an alternate means of lifting for industrial applications, allowing for the controlled and precise handling of big weights. When a constant and smooth lifting motion is needed, the lifting system is frequently employed. The demand for chain hoists is being further affected by the increasing trend of automation in many sectors. Robots in the manufacturing sector automate material handling and can effortlessly move larger objects.
Additionally, robotic arms can manage complicated tasks and repetitive lifting operations without human assistance. The use of robotics and hydraulic lifting devices both improve the accuracy and efficiency of material handling. On top of that, the systems can be seamlessly incorporated into production lines, which means more output with less downtime. Robots and hydraulic lifting systems are two alternatives to chain blocks that could slow down the market.
Material handling equipment, such as pulleys and chain blocks, is in high demand due to the expanding manufacturing sector. Heavy components or raw materials are typically lifted and moved using chain blocks in the manufacturing business. In addition, many Asian nations, like Vietnam, China, and India, have been rapidly urbanizing and industrializing in recent decades. Demand for chain blocks is being propelled in part by the uptick in manufacturing in Asia. As an example, the percentage of world industrial production attributable to China rose from 22.5% in 2012 to 30% in 2021 (China State Council Information Office).
Growing consumer interest in the items is the primary force propelling the industry forward. The spread of the coronavirus pandemic has impacted the key elements that drive the industry. Worldwide, the sector has felt the effects of the lockdown and the social distance that followed. As a result of societal constraints around the world, product demand has dropped, and the market is expected to expand at a modest pace during the projected period.
Report Coverage
Global Chain Block research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Chain Block report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Chain Block competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Chain Block market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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 |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Chain Block Market from 2021 to 2031.
- Market Forecast for Chain Block Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Chain Block competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Chain Block
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Chain Block market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Chain Block market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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
Primary Target Market
- Market Players of Chain Block
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Chain Block market based on the below-mentioned segments:
Global Chain Block Market, By Type
Manual Chain Blocks
Electric Chain Blocks
Others
Global Chain Block market, By Application
Factories and warehouse
Construction Sites
Marine & Ports
Mining & Excavating Operation
Energy
Others
Global Chain Block market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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