Worldwide Sales Of Lifting Hooks To Increase At A CAGR Of 4.6% From 2023 To 2033

The lifting hooks market refers to the industry that involves the manufacturing, distribution, and use of lifting hooks and related equipment. Lifting hooks are devices designed to securely lift and transport heavy loads in various industries, such as construction, manufacturing, logistics, and marine.

Lifting hooks are typically made of durable materials like steel and are designed to withstand heavy loads and ensure the safe handling of objects. They come in different shapes and sizes, including single hooks, double hooks, and specialized hooks for specific applications. Lifting hooks are commonly attached to cranes, hoists, or other lifting equipment through which they can be operated.

Key factors driving the growth of the lifting hooks market include:

1. Industrial growth and infrastructure development: The demand for lifting hooks is closely tied to industrial growth and infrastructure development. As construction projects, manufacturing activities, and logistics operations expand, there is an increased need for lifting equipment, including hooks, to handle heavy loads.
2. Occupational safety regulations: Workplace safety regulations and guidelines place emphasis on the safe lifting and handling of loads. Lifting hooks play a crucial role in ensuring safe lifting practices by providing a secure connection between the load and the lifting equipment. Compliance with safety regulations drives the adoption of lifting hooks in various industries.
3. Increasing demand for material handling equipment: The growing need for efficient material handling in industries such as manufacturing, construction, and logistics drives the demand for lifting hooks. Lifting hooks are an integral part of material handling equipment like cranes, forklifts, and hoists.
4. Global trade and port activities: International trade and port activities involve the movement of large volumes of cargo. Lifting hooks are extensively used in ports for loading and unloading containers and other heavy items from ships. As global trade continues to expand, the demand for lifting hooks in port operations increases.

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What Roles Will Construction & Mining Industry Play in Surging Demand?

The mining industry demands high quality lifting equipment to perform heavy lifting tasks in various manoeuvring operations. These operations need both, heavy duty lifting hooks and general lifting hooks.

Lifting equipment is being used in the construction industry on a large scale, such as hoist cranes, gantry cranes, and carry deck cranes, many of which include mobile crane hooks.

Timely and successful completion of a project needs heavy and efficient equipment. In a mammoth construction project, which includes high rise building construction and seamless flow of material handling, lifting equipment such as cranes are vital links.

With construction activities increasing across regions, demand for lifting hooks will only increase as the years go by.

Key Segments Covered of the Global Lifting Hooks

Competitive Landscape

Top lifting hook producers are concentrating on new developments for the introduction of high-capacity lifting equipment while following safety regulations. Major businesses are working on reducing their carbon footprints to reduce their environmental impact. They are engaged in research and development efforts to offer cutting-edge products.

Leading companies are focusing on quality control, supply chain management, partnerships, product standards, and the strengthening of regional and global distribution networks. Key market players are aiming to increase their market share and geographical footprint through acquisitions in industries associated with lifting.

Key Companies Profiled

• Stamperia Carcano Giuseppe SPA
• TOHO-Rongkee
• Ketten Walder
• The Crosby Group
• Columbus McKinnon
• Qingdao Sail Rigging Co., Ltd.
• Irizar Forge
• Yoke
• Peerless Industrial Group
• Van Beest
• Pewag Group

How is Reduction in Replacement Period of Lifting Hooks Aiding Market Growth?

Lifting Operations and Lifting Equipment Regulations 1998 (LOLER) apply to various spaces such as companies that are manufacturing lifting equipment and businesses that are using lifting equipment; these regulations also include the load that is being lifted by the equipment.

Regulations are expected to increase the credibility of companies and products, since companies that are operating in the market need to acquire various certifications.

Under the Lifting Operations and Lifting Equipment Regulations 1998, businesses that are operating in this space need to check various lifting equipment every six months or a year.

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