Global Hoist for Mining Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hoist for Mining Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The hoist for mining is a large-scale machinery that is installed on the ground and uses a steel wire rope to drive the container to run in the shaft or ramp to complete the transportation tasks of ore, personnel, and materials. It is mainly composed of a motor, reducer, reel, braking system, a depth indicating system, speed measuring, speed limiting system, and control system, and is driven by AC or DC motor. According to the working principle of hoisting, mining hoists are divided into three categories: friction hoists, drum hoists, and Blair multi-rope hoists.

Market Overview:

The latest research study on the global Hoist for Mining market finds that the global Hoist for Mining market reached a value of USD 413.95 million in 2022. It’s expected that the market will achieve USD 577.63 million by 2028, exhibiting a CAGR of 5.71% during the forecast period.

As an important raw material for Hoist for Mining, steel is facing multiple challenges. Since the conflict between Russia and Ukraine at the end of February 2022, transportation in the Black Sea has been blocked, and the supply of raw materials has been difficult. In addition, Europe and the United States have announced sanctions against Russia, and crude oil and energy prices have soared, Inflation climbed, and production and capital costs pushed up so that European steel mills faced pressure to cut production. Steel prices soared about 50% year-on-year to a record high.

Cold & Hot Isostatic Pressing Equipment is widely used

Due to its excellent performance, cold isostatic presses equipment is widely used in magnetic materials, ceramics, hard alloys, high-temperature refractory materials, rare earth permanent magnets, carbon materials, rare metal powders, and other industries. Hot isostatic pressing equipment is widely used in aviation, aerospace, shipbuilding, weapons, the nuclear industry, and other fields. With the continuous development of hot isostatic pressing technology, hot isostatic pressing machines are developing in the direction of large specifications, shortening the processing cycle and reducing processing costs.

Region Overview:

In 2021, the share of the Hoist for Mining market in Asia Pacific stood at 38.89%.

Company Overview:

ABB is a leading global engineering company offering a full range of electric motors, generators, drives and services, as well as mechanical power transmission products and integrated digital powertrains, by combining software with its electrification, robotics, automation and motion portfolio solution. They serve a wide range of automation applications in transportation, infrastructure, and discrete and process industries.

Segmentation Overview:

As for product types, the Friction Hoist segment held the largest market share in 2021.

Application Overview:

By application, the Coal Mine segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hoist for Mining market covered in Chapter 3:

Nidec
Inco Engineering
FLSmidth
Luoyang CIC
FKC-Lake Shore
ABB
SIEMAG Tecberg
Hepburn Engineering
Olko-Maschinentechnik GmbH
Zitron

In Chapter 4 and Chapter 14.2, on the basis of types, the Hoist for Mining market from 2018 to 2029 is primarily split into:

Friction Hoist
Drum Hoist
Blair Multi-rope Hoist

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hoist for Mining market from 2018 to 2029 covers:

Coal Mine
Iron Ore
Non-ferrous Metal Ore
Non-metallic Minerals Ore

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)