Lifting Hooks Market Report 2024 Market Size and Share Forecasts (up to 2032)

The global lifting hooks market size is expected to reach USD 231.86 million by 2032, according to a new study by Polaris Market Research. The report “Lifting Hooks Market Share, Size, Trends, Industry Analysis Report, By Type (Eye Hooks, Clevis Hooks, Swivel Hooks, Grab Hooks, and Foundry Hooks); By Working Load; By Industry; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising prevalence for industrialization and manufacturing activities, increasing companies focus on workers safety, significant expansion of the renewable energy sector, and continuous growth in construction and infrastructure development activities are among the prominent factors boosting the market growth globally. Moreover, businesses are continuously seeking to improve their productivity and operational efficiency and opting for lifting hooks that enable streamlined material handling processes, reducing downtime and improving workflow efficiency, thereby the introduction to new lifting hooks with improved characteristics has become an emerging trend in the market.

For instance, in January 2023, ELEBIA, unveiled its new automatic hook control systems named “eLink”, for their range of automatic hooks and rigging products, which allows users to easily automate material handling processes, conduct remote service, and monitor hook status.

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There has been a rising global shift towards the renewable energy sources such as wind and solar power, which significantly increases need for installation, maintenance, and transportation of equipment in the renewable energy sector, that requires specialized lifting hooks. Thereby, in order to meet the growing demand for lifting hooks from these sectors, manufacturers are investing heavily to expand their product portfolio and market reach all over the world.

The growing proliferation for the integration of digital solutions such as asset tracking, predictive maintenance, and remote monitoring, which allow companies to offer several value-added services alongside their lifting hook products that can subsequently enhance customer engagement and differentiate businesses in the market, is gaining momentum and creating new revenue opportunities for the market.

Lifting Hooks Market Report Highlights

Eye hooks segment accounted for global market share in 2022, mainly due to its rapidly surging use in industrial and construction applications for performing various operations
12 to 23 tons segment held the majority market revenue share in 2022, owing to its high loading capacity and easy compliance with several safety standards and regulations
Logistics & transportation segment is projected to grow at fastest growth rate over the study period, driven by significant growth in e-commerce sector leading to increased demand for warehouses and distribution centers
North America region dominated the global market with largest share in 2022, on account of presence of major producers of lifting hooks and prevalence for the upgradation of existing hooks and equipment
The global key market players include The Crosby Group, Pewag Group, KITO Corporation, Terrier Lifting Clamps, and RUD Chains

Polaris Market Research has segmented the lifting hooks market report based on type, working load, industry, and region:

Lifting Hooks, Type Outlook (Revenue - USD Million, 2023 - 2032)