Global Winches Market: Introduction
A winch is a power-driven equipment used to wind a rope or a cable. Winches are widely used for lifting and moving all kinds of loads in various applications, such as marine, industrial, renewables, automotive and civil engineering, among others. Winches range in design from hand-cranked spools to enormous hydraulic devices used for industrial loading applications. Simple winches consist of a basic structure such as a spool and an attached hand crank, whereas for bigger applications, winches form a major part of machinery used for moving and lifting loads.
On the basis of material used, stainless steel winches are estimated to hold a dominant market share and they’re widely used in applications, such as boating. In industrial applications, stronger steel alloys are widely preferred for industrial winch drums & frames and in low weight operations, synthetics and aluminium are used.
Winches are categorized as manual, hydraulic, pneumatic and electric winches on the basis of working mechanism. As the global load lifting needs are evolving, there is a growing demand for more advanced systems offering high quality and better efficiency with ease of use. To meet these demands, manufacturers are constantly striving to develop new systems. Hydraulic winches were developed to meet the requirements of modern-day application needs in the winches market. Manual winches are preferred for low lifting weight applications, owing to simplicity and cost effectiveness. Electric winches are estimated to hold a dominant market share over the forecast period, attributing to the high demand from marine and oil & gas applications.
The global market is estimated to grow at a stable rate, owing to the use of winches in a wide variety of applications.
Global Winches Market: Dynamics
Growth in end use applications, such as mining, construction, utility, freight, oceaneering and others is expected to be a key growth driver for the global winches market. In automotive applications, winches are used as front or rear mounts to tow heavy weight. Construction cranes use winches to lift & dangle loads and sailboats of all sizes use winches to facilitate the rapid winding and unwinding of the rigging line. The global winches market is estimated to be driven by technological advancements, such as remote control clutch system in advanced winches for better handling & transfer of loads, quick installation and availability of good quality winches with cost-effective prices.
The high cost of hydraulic systems might act as a growth restraint for this market over the forecast period.
Global Winches Market: Segmentation
On the basis of type, the global winches market is segmented into: electric winches, hydraulic winches and manual winches.
The global winches market can be segmented on the basis of capacity as: below 7500 lbs, 7500 lbs to 15000 lbs, 15001 lbs to 45000 lbs, 45001 lbs to 60000 lbs, 60001 lbs to 100000 lbs, and above 100000 lbs. Winches are evaluated by line pull weight and gear ratio.
On the basis of application, the global winches market can be segmented into: mining, construction, utility, freight, oceaneering and others.
Global Winches Market: Regional Outlook
North America and Western Europe collectively are estimated to account for a relatively large market share in the global winches market during the forecast period. The major demand for winches arises from end use industries, such as marine, industrial machinery and freight. The U.S. winches market is anticipated to grow at a stable pace, owing to it attaining the maturity stage in the product life cycle. On the other hand, the Canada winches market is estimated to register significant growth. In Europe, countries, such as the U.K., Germany, Russia, Poland and France are projected to drive the Europe winches market.
Latin America and the Middle-East & Africa winches markets are estimated to witness high growth opportunity over the forecast period. The Asia-Pacific market is forecasted to grow at a rapid pace, owing to growth in urbanization, growing industries and stable economic growth in the region.
Global Winches: Market Participants
Examples of some of the market participants in the global winches market are:
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