Hoist Market Report 2026

The hoist market size has grown strongly in recent years. It will grow from $2.54 billion in 2025 to $2.69 billion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to growth of construction activities, expansion of manufacturing plants, reliance on manual lifting equipment, industrial safety regulations, growth of shipping and logistics.

The hoist market size is expected to see strong growth in the next few years. It will grow to $3.32 billion in 2030 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to factory automation adoption, growth of e-commerce warehousing, demand for smart material handling solutions, stricter safety compliance standards, expansion of infrastructure projects. Major trends in the forecast period include growing demand for automated lifting equipment, expansion of warehouse and logistics infrastructure, adoption of electric and smart hoists, focus on workplace safety and load control, integration of hoists with material handling systems.

The rising marine industry is expected to drive the growth of the hoist market going forward. The marine industry includes all activities related to the transportation of goods and passengers via waterways, such as oceans, seas, rivers, and canals. This growth is fueled by factors like globalization, increased international trade, growing demand for goods, the expansion of e-commerce, and advancements in maritime technology. Hoists improve efficiency, safety, and precision in various marine operations, making them essential in shipyards, ports, offshore platforms, and other maritime settings. For instance, in June 2025, according to the Bureau of Economic Analysis, a US-based economic-analysis agency, the marine economy accounted for $511 billion, or 1.8 percent, of current-dollar US gross domestic product in 2023, up from $482.4 billion in 2022, and represented $826.6 billion, or 1.7 percent, of current-dollar gross output in 2023. Therefore, the expanding marine industry is supporting the growth of the hoist market.

Major companies in the hoist market are focusing on incorporating advanced safety and reliability technologies, such as mechanical protection systems, to enhance operational uptime, load handling accuracy, and worker safety. Advanced mechanical protection systems are engineered components that automatically monitor and restrict motion under unsafe conditions, enabling features like overload protection, controlled lifting, and reduced wear on internal parts. For example, in February 2025, Konecranes, a Finland-based industrial lifting-equipment manufacturer, launched the Konecranes D-Series electric chain hoist, an advanced safety-enhanced hoist for efficient and secure industrial lifting applications. It features a slipping clutch with speed monitoring, operating limit switches, and maintenance-free gearbox, brake, and clutch components with up to 10 years of service life. The Konecranes D-Series enhances operational safety, reduces maintenance requirements, and ensures reliable lifting performance across diverse industrial environments.

In May 2024, Mazzella Companies acquired Piedmont Hoist and Crane, positioning itself as one of the leading manufacturers of overhead cranes and lifting equipment in North America. Piedmont Hoist and Crane specialize in manufacturing electric hoists and overhead cranes.

Major companies operating in the hoist market are ABB Ltd., Liebherr-International GmbH, Sany Group, Ingersoll Rand Inc., Konecranes Oyj, ABUS Ltd., Columbus McKinnon Corporation, Kito Corporation, Demag Cranes & Components GmbH, Spanco Inc., Dover Corporation, Jet Equipment & Tools Ltd., Hitachi Industrial Equipment Systems Co., Acco Material Handling Solutions, Liftket Hoffmann GmbH, J. D. Neuhaus, Zenar Corporation, Henan Oriental Machinery Co. Ltd., JASO Industrial Cranes, Verlinde SAV, Donati Sollevamenti S.r.l., CHENG DAY MACHINERY WORKS CO. LTD., Electrolift Inc., David Round Inc., Coffing Hoists.

North America was the largest region in the hoist market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hoist market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hoist market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hoist market consists of sales of lifting slings, hooks, shackles, motors, brakes, and gears. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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