Pulley Tackle And Hoists Powered By An Electric Motor Market

The article provides a comprehensive analysis of the global market for pulley tackle and hoists powered by an electric motor. It predicts a positive trend in market performance, with expected growth in both volume and value over the period from 2022 to 2030. Detailed information is provided on consumption trends, production volumes, imports, and exports of these products. Key countries driving the market, such as China, Canada, and the United States, are highlighted, along with their growth rates and market values. The article also discusses average import and export prices for these products, as well as notable fluctuations in pricing over the years.

Market Forecast

Driven by increasing demand for pulley tackle and hoists powered by an electric motor worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 4M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Pulley Tackle And Hoists Powered By An Electric Motor

In 2022, after two years of decline, there was significant growth in consumption of pulley tackle and hoists powered by an electric motor, when its volume increased by 7.8% to 3.3M units. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, global consumption of hit record highs at 3.7M units in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

The revenue of the market for pulley tackle and hoists powered by an electric motor worldwide reached $2.9B in 2022, picking up by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Singapore (459K units), Canada (418K units) and China (347K units), together comprising 37% of global consumption. The United States, India, Italy, Japan, the UK, Belgium, France, Mexico, Russia and Germany lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of motor, amongst the main consuming countries, was attained by France (with a CAGR of +18.7%), while motor for the other global leaders experienced more modest paces of growth.

In value terms, Japan ($363M), India ($343M) and Singapore ($152M) constituted the countries with the highest levels of market value in 2022, with a combined 30% share of the global market. China, Canada, the United States, Germany, Russia, Italy, the UK, Mexico, France and Belgium lagged somewhat behind, together comprising a further 23%.

France, with a CAGR of +16.4%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while motor for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of pulley tackle and hoists powered by an electric motor was registered in Singapore (79 units per 1000 persons), followed by Canada (11 units per 1000 persons), Belgium (5.7 units per 1000 persons) and Italy (3.2 units per 1000 persons), while the world average per capita consumption of pulley tackle and hoists powered by an electric motor was estimated at 0.4 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the per capita consumption of pulley tackle and hoists powered by an electric motor in Singapore was relatively modest. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Canada (+5.3% per year) and Belgium (+16.6% per year).

Production

World Production of Pulley Tackle And Hoists Powered By An Electric Motor

In 2022, approx. 3.2M units of pulley tackle and hoists powered by an electric motor were produced worldwide; with an increase of 3.1% against the year before. The total output volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the production volume increased by 26% against the previous year. Over the period under review, global production of attained the maximum volume in 2022 and is expected to retain growth in years to come.

In value terms, production of pulley tackle and hoists powered by an electric motor rose slightly to $3.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 19% against the previous year. Global production peaked in 2022 and is likely to continue growth in the immediate term.

Production By Country

The country with the largest volume of production of pulley tackle and hoists powered by an electric motor was China (1.7M units), comprising approx. 52% of total volume. Moreover, production of pulley tackle and hoists powered by an electric motor in China exceeded the figures recorded by the second-largest producer, Singapore (460K units), fourfold. The third position in this ranking was held by India (199K units), with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.2%. In the other countries, the average annual rates were as follows: Singapore (+2.1% per year) and India (+2.4% per year).

Imports

World Imports of Pulley Tackle And Hoists Powered By An Electric Motor

In 2022, purchases abroad of pulley tackle and hoists powered by an electric motor increased by 7.5% to 2M units, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 15%. Over the period under review, global imports of attained the maximum at 2.5M units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of pulley tackle and hoists powered by an electric motor expanded to $987M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 16% against the previous year. Over the period under review, global imports of attained the peak figure at $1.1B in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Canada (430K units) and the United States (319K units) were the main importers of pulley tackle and hoists powered by an electric motoracross the globe, together creating 37% of total imports. It was distantly followed by Belgium (101K units), the UK (100K units) and India (93K units), together mixing up a 14% share of total imports. The following importers - Italy (83K units), the Netherlands (68K units), France (67K units), Mexico (55K units), Spain (45K units), Thailand (41K units), Russia (37K units) and Germany (36K units) - together made up 21% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +33.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest pulley tackle and hoists powered by an electric motor importing markets worldwide were the United States ($120M), Canada ($99M) and Russia ($41M), together comprising 26% of global imports. The UK, France, Germany, India, Italy, Thailand, Mexico, the Netherlands, Spain and Belgium lagged somewhat behind, together accounting for a further 22%.

India, with a CAGR of +11.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for pulley tackle and hoists powered by an electric motor amounted to $483 per unit, reducing by -2.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 7.4%. Over the period under review, average import prices reached the maximum at $519 per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($1,089 per unit), while Belgium ($111 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Pulley Tackle And Hoists Powered By An Electric Motor

In 2022, the amount of pulley tackle and hoists powered by an electric motor exported worldwide dropped to 1.9M units, remaining relatively unchanged against the year before. Overall, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Over the period under review, the global exports of hit record highs at 1.9M units in 2021, and then fell slightly in the following year.

In value terms, exports of pulley tackle and hoists powered by an electric motor expanded remarkably to $1.1B in 2022. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 23%. Over the period under review, the global exports of attained the maximum in 2022 and are expected to retain growth in years to come.

Exports By Country

China prevails in motor structure, accounting for 1.3M units, which was approx. 71% of total exports in 2022. It was distantly followed by Germany (88K units), committing a 4.6% share of total exports. Belgium (58K units), Italy (52K units), Denmark (42K units), the United States (31K units) and the Czech Republic (30K units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +7.5% from 2012 to 2022. At the same time, Denmark (+33.7%), the Czech Republic (+18.8%), Belgium (+16.7%), Germany (+6.3%) and Italy (+3.9%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.7% from 2012-2022. The United States experienced a relatively flat trend pattern. China (+16 p.p.), Denmark (+2 p.p.) and Belgium (+2 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pulley tackle and hoists powered by an electric motor supplying countries worldwide were China ($239M), Germany ($208M) and the United States ($109M), with a combined 50% share of global exports. Italy, Belgium, Denmark and the Czech Republic lagged somewhat behind, together comprising a further 6.9%.

Denmark, with a CAGR of +12.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for pulley tackle and hoists powered by an electric motor stood at $588 per unit in 2022, rising by 7% against the previous year. Overall, the export price, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 17% against the previous year. Over the period under review, the average export prices reached the peak figure at $802 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,521 per unit), while the Czech Republic ($136 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform