Electric Winch Market Size, Growth Analysis by Top Players 2021: Dynamics and Latest Trends with Global Industry Share, Business Development Plans and Strategies, CAGR and Revenue Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Electric Winch Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electric Winch Market products.

REPORT HIGHLIGHT

The Electric Winch market is estimated to represent a global market of USD 860.9 million by 2017 with growth rate of 19.8%.

Market Dynamics

The global electric winch market is witnessing immense growth over the forecast period on account of increasing demand for winches in emerging and mature markets such as the U.S., China, and India. Growing rate of millennial interest over adventure sports such as snowboarding, wake-boarding, waterboarding, as well as ATV mounted sports, is going to set the demand for electric winches globally.

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The demand for these products is also fueled by the significant growth of construction, shipping and landscape industries where winches are considered for their dependable operations and high quality. As electric winches are a perfect combination of proven reliability, high performance and simple operations, the demand for winches is set to experience a strong growth in terms of its application in drilling oil fields, since requirement for crude oil and rig counts globally have been increasing. Growing demand for floating production storage and offloading (FPSO) vessels as a result of improvement in petroleum sector in major oil producing nations including the U.S., Russia and UK is expected to have a strong impact.

Application Takeaway

Revenue wise, automotive is expected to account for highest share. The revival of the automotive industry in developed countries including the Germany, U.S. and the UK is expected to increase the product usage. However, the predominant consumption of mechanical and hydraulic winches in the automotive sector is likely to limit the use of electric winches.

Marine is expected to foresee significant growth from 2018 to 2025. Rising demand for Floating Production Storage and Offloading (FPSO) as a result of improvements in the petroleum industry in the U.S., China, and India is expected to open new market avenues over the next eight years. Further, the predominant consumption of electric winches in the automotive, as well as marine industries as a result of high product rates, is expected to limit the growth of other application segments in the near future.

Regional Takeaway

Regionally, North America accounted for the highest revenue share. Whereas, Asia Pacific is expected to remain fastest market. This growth is attributed to the improvement in transportation sector including automotive and marine in countries including India, China, Japan and Taiwan.

Key Vendor Takeaway

Manufacturers studied under this report scope are;

Superwinch

Warn Industries

KA-Winch

Verlinde Lifting Equipment

Ingersoll-Rand plc

Verlinde Lifting Equipment

Polaris

Powertek

Product innovation along with the strategic partnerships with buyers are anticipated to remain success factors over the study period. The manufacturers aim to achieve optimum business growth and strong market position through implementation of various technologies, and innovation to enter specific markets that utilizes winches for organizations productivity.

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The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies

Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY APPLICATION

Automotive

Sports Utility vehicles

All-Terrain Vehicles

Trailers

Marine

Industrial

MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of APAC

Rest of the World

Middle East and Africa

Latin America

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

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