NEW
YORK, Aug. 8, 2024 /PRNewswire/ -- The global
electric winch market size is estimated to grow by USD 1.99 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
8.09% during the forecast period. Increasing demand for
winches in light commercial vehicles (lCVs) is driving market
growth, with a trend towards advancement in electric
winch systems. However, complexity in handling electric
winches poses a challenge. Key market players include
Bhagirath Heavy Transmission, COMEUP INDUSTRIES INC., Dowell Crane
Co. Ltd, EIVA SAFEX AS, Harken Inc., Henan Crane Co. Ltd, India
Industrial Stores, Ingersoll Rand Inc., Knubb Action GbR, LKQ
Corp., Mennens Belgium N.V., Mile Marker Industries, Powertek
Equipment Co., RAM Winch and Hoist, Ramsey
Winch, Taiwan Winch Industrial Co. Ltd., Thern Inc., W.W.
Grainger Inc., Westin Automotive Inc., and WINCHMAX Ltd.
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Electric Winch
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.09%
|
Market growth
2024-2028
|
USD 1996.8
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.32
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 42%
|
Key
countries
|
US, Germany, China, UK,
and Japan
|
Key companies
profiled
|
Bhagirath Heavy
Transmission, COMEUP INDUSTRIES INC., Dowell Crane Co. Ltd, EIVA
SAFEX AS, Harken Inc., Henan Crane Co. Ltd, India Industrial
Stores, Ingersoll Rand Inc., Knubb Action GbR, LKQ Corp., Mennens
Belgium N.V., Mile Marker Industries, Powertek Equipment Co., RAM
Winch and Hoist, Ramsey Winch, Taiwan Winch Industrial Co. Ltd.,
Thern Inc., W.W. Grainger Inc., Westin Automotive Inc., and
WINCHMAX Ltd
|
Market Driver
The electric winch market has experienced significant
advancements in design, production materials, and operational
mechanisms. Currently, market players provide high-performance
electric winch systems for heavy-duty applications. These winches
are now fully electronically operated, featuring powerful electric
motors that function based on the principle of opposing currents.
Advanced electric winch systems include high-configuration gears,
similar to an automotive gear train, ensuring effective performance
in towing applications. These winches incorporate elliptical or
planetary gear trains, with successively smaller gear trains, and
operate on a DC power supply of 24V, suitable for heavy-load
conditions. These high-performance electric winch systems offer
enhanced durability, faster line speed, and increased water-wading
capacity. Consequently, the evolution of electric winches is
expected to positively impact the global market during the forecast
period.
The Electric Winch Market is experiencing significant growth due
to increasing urban population and construction projects requiring
the lifting of heavy items. Urbanization leads to an increase in
demand for winches in various sectors like automotive supply chain,
automotive segment, ports, marine, mining, oil and gas, and
shipping. Accidents and injuries during manual lifting operations
have fueled the need for electric winches. The automotive industry
uses light duty winches, while heavy duty winches are popular in
construction, marine, mining, and oil and gas industries. The
renewable energy industry and agriculture activities also utilize
electric winches. Hydraulic winches, wireless remote control,
synthetic ropes, and smart technology are recent trends. Winches
are used for towing operations, lifting steel beams and precast
concrete, and in moviemaking. Motors and carbon emissions are key
considerations in the market. Electric winches are increasingly
being used in off-road vehicles and are essential for various
industries, making them a must-have in today's business
landscape.
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Market Challenges
- ai_dominating_segment_factor_new
- The Electric Winch Market encompasses various industries such
as construction, marine, mining, oil and gas, automotive, shipping,
and off-road vehicles. Challenges in these sectors include the need
for heavy-duty winches to handle large loads and towing operations.
Hydraulic winches and wireless remote control are popular solutions
for managing carbon emissions and improving ergonomics. Synthetic
ropes and steel cables offer physical and mechanical advantages
over traditional ropes. Motors, smart technology, and gears are
essential components. Manual winches remain in use for specific
applications, but electric winches offer power advantages and
reduce the need for manual labor. Industries like shipping, oil
fields, and military operations require high bearing capacity
winches. Electric winches are used in automobile production and
transportation sector for towing trailers and mounting on ATVs and
SUVs. Power failures can be addressed with battery-operated
electric winches. LNG and petroleum sectors, including shale gas
and tight oil sources, rely on electric winches for drilling
operations. Electronic devices and load sensors enhance safety and
efficiency.
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Segment Overview
This electric winch market report extensively covers market
segmentation by
- Type
- 1.1 Single reel
- 1.2 Double reel
- 1.3 Line shaft winches
- Product Type
- 2.1 Heavy duty winch
- 2.2 Light duty winch
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Single reel- Single reel electric winches are
popular in the market due to their versatility and wide application
in various industries. These winches feature a single drum support
and are available in capacities ranging from 1.5 to 3 tons. The
power capacity is standard at 12 volts and 24 volts, with maximum
line speeds of 12 and 13 meters per minute, respectively. The frame
and drum are typically made of 6061-T6 hard coat-anodized aluminum.
The single drum design allows the rope to leave the drum at any
angle, providing an efficient working length even with a short
drum. The large diameter drum ensures a strong drum-to-cable ratio,
making it ideal for lifting vehicles or heavy equipment. The demand
for single reel electric winches is on the rise due to increased
infrastructure development and construction of high-rises
worldwide. In addition, the growth of the global retail industry is
increasing warehouse loading and unloading of products, boosting
demand in the warehousing sector. Furthermore, the mining
industry's need to lift heavy materials, especially during deeper
underground mining and increasing payloads, is driving demand for
specialized single reel electric winches. Emerging economies with
growing small-scale mining operations are also expected to
contribute significantly to market growth. As a result, the
adoption of single reel electric winches is projected to increase,
fueling the growth of the single reel segment in the global
electric winch market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Electric Winch Market encompasses various industries such as
construction, marine, mining, oil and gas, automotive, shipping,
and off-road vehicles. These winches are essential for lifting
heavy loads, including steel beams and precast concrete in
construction projects, and moving heavy items in mining and oil and
gas operations. Electric winches offer physical and mechanical
advantages over manual labor, reducing the need for manual effort
and increasing efficiency. Hydraulic winches and electric winches
are popular types in the market, with hydraulic winches providing
high power and force, while electric winches offer the benefits of
lower carbon emissions and easier integration with electronic
devices. The load capacity of electric winches ranges from a few
hundred kilograms to several tonnes. The market is driven by the
increasing demand for urban infrastructure development, heavy
construction projects, and the need for safety and efficiency in
industries such as automotive supply chain and shipping. Urban
population growth and the rise of e-commerce are also contributing
factors. Accidents and injuries in manual labor-intensive
industries are a significant concern, making electric winches an
attractive alternative. Electric winches are used in various
applications, including moving heavy vehicles, lifting steel beams,
and loading and unloading ships. The market is expected to grow due
to the increasing demand for electric vehicles and the need for
efficient and eco-friendly solutions in various industries. The
integration of electric winches with advanced technology and
automation is also a key trend in the market.
Market Research Overview
The Electric Winch Market encompasses various industries such as
construction, marine, mining, oil and gas, automotive, shipping,
and more. In the construction industry, electric winches are used
for lifting heavy loads during construction projects, reducing the
need for manual labor and increasing efficiency. In the marine
industry, electric winches are utilized for towing operations,
anchoring ships, and handling mooring ropes. In the mining sector,
they are essential for lifting and moving heavy items in oil fields
and rig counts, enhancing productivity and safety. Electric winches
come in various types, including hydraulic winches, off-road
vehicles winches, and lightweight portable winches. They are
equipped with smart technology, wireless remote control, and
synthetic ropes or steel cables, providing physical and mechanical
advantages over manual winches. The market is driven by the demand
for heavy loads handling in various sectors, including the shipping
industry, automotive supply chain, and military operations. Carbon
emissions are a concern in the market, and manufacturers are
focusing on developing eco-friendly electric winches. The market
also includes various applications, such as ATV mounts, Liquefied
Natural Gas, and automobile production, among others. The
transportation sector, including sports utility vehicles and
all-terrain vehicles, also utilizes electric winches for towing
operations. The market is expected to grow due to the increasing
urban population, the need for efficient and safe lifting
solutions, and the expanding renewable energy industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Single Reel
- Double Reel
- Line Shaft Winches
- Product Type
-
- Heavy Duty Winch
- Light Duty Winch
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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