Industrial Hooks Market: Introduction
A hook is a tool containing a curved or indented portion in a way that it can be used to grab or connect or attach itself with other object. Hooks are used in various industries for serving different purposes. Industrial Hooks are relatively larger in size and greater in working load limit in order to lift heavy loads or perform other heady duty functions. Growing manufacturing industries and increasing production capabilities is estimated to fuel the demand for heavy duty industrial hooks across the globe. Owing to the increasing demand for efficient and durable hooks in various industries, the need for heavy duty Industrial Hooks is estimated to witness significant growth. This in turns is estimated to project substantial opportunities in the global Industrial Hooks market during the forecast period.
Industrial Hooks Market: Dynamics
Sales of industrial hooks is highly dependent on the growth and operations of various end use verticals. Substantial growth in construction, mining, automotive and transportation, oil and gas, petrochemical and other industries is anticipated to be the key factor driving the growth of industrial hook market. Regional governments are investing significantly in the construction and mining sector to gain significant positions across the globe and maintain their significant economic positions. Several off highway, heavy duty construction and mining equipment uses hooks to lift heavy objects and perform other functions. This in turn may positively impact the global industrial hooks market during the forecast period. Growing automotive production and sales all across the globe and particularly in the developing countries is also estimated to contribute to the global industrial hooks market.
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Industrial hooks market is not a standalone industry. Demand for industrial hooks and related products is dependent on various end-use industries, such as automotive, defense, aerospace, chemical, mining, construction and other industrial activities. The output generation of these industries may be subject to various risks, including raw material price fluctuations, political and economic instability and several regulatory risks in the region. Hence, a slow-down in any industry can significantly impact the sales growth projection of the industrial hooks market
Industrial Hooks Market: Segment
The global Industrial Hooks market has been segmented by hook type, by material type, by working load limit and by application
On the basis of hook type, the global Industrial Hooks market has been segmented as:
- S Hooks
- Cup Hooks
- Screw Hooks
- Hammock Hooks
- Chain and cable hooks
- Hoist, rigging and lifting hooks
- Other Hooks
On the basis of material, the global Industrial Hooks market has been segmented as:
- Stainless Steel Industrial Hooks
- Aluminum Industrial Hooks
- Copper Industrial Hooks
- Iron Industrial Hooks
- Molded Plastic Industrial Hooks
- Zinc Industrial Hooks
- Other Industrial Hooks
On the basis of working load limit, the global Industrial Hooks market has been segmented as:
- Less than 50 pounds
- 50 pounds to 200 pounds
- More than 200 pounds
On the basis of application, the global Industrial Hooks market has been segmented as:
- Heavy Engineering
- Marine and Aerospace
- Automotive and Transportation
- Oil and Gas
- General Manufacturing
Industrial Hooks Market: Regional Outlook
The industrial hoses assemblies market in Asia Pacific is expected to expand at the fastest rate with major contribution from developing countries, such as China, ASEAN and India. Increasing mining projects in countries such as Australia, Brazil, China, India, Russia, South Africa and Ukraine are anticipated to create positive opportunities for the global industrial hooks market.
Owing to the higher rate of industrial production and manufacturing activities in the Europe and North America region, the demand for industrial hooks is also estimated to be higher in the respective regions. Growing mining and oil and gas industries in Middle East and Africa and Latin America region is also anticipated to fuel the demand for industrial hooks during the forecast period.
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Industrial Hooks Market: Key Participants
Examples of some of the market participants identified across the value chain of the global Industrial Hooks market include:
- The Crosby Group
- NAL HON Industail Co., LTD.
- Mighty Hook Inc.
- The Grapple Hook group
- Grapplers India Private Limited
- Trinity International