Hoist Rings Market: Analysis: By Key Players, Applications, Growth Trends, Region & Segment Forecast To 2019 - 2027

Global Hoist Rings Market: Introduction

A hoist is an equipment used for lowering or lifting a load. A hoist ring is generally attached to a metal chain. In general, hoist rings are used in a wide range of industries such as material handling, metalworking, manufacturing, military, aviation, and transportation.

Global Hoist Rings Market: Competition Landscape

The Crosby Group

The Crosby Group is based in Tulsa, Oklahoma, the U.S. It has been operating for more than 130 years. The company is a leading manufacturer of material handling, lifting, and rigging products. The company offers standard hoist rings under the following product categories: Cold Temperature, Forged Bail, Stainless Steel, and Standard Bail. The company also produces hooks, hook latches, lifting clamps, load-monitoring devices, rigging components, shackles, sockets, etc. In May 2019, the Crosby Group was acquired by Gunnebo Industries Holding AB, a private equity firm based in the Nordic. Gunnebo Industries is a leading manufacturer of products used in the global material handling industry.

RUD Group

RUD Ketten Rieger & Dietz GmbH u. Co. KG is a family-owned, global engineering company headquartered in Germany. The company was formed by Friedrich Dietz and Carl Rieger in 1875. The company’s product portfolio includes hoist rings and other sling and lashing systems, tyre protection chains, non-skid chains, conveyors and drives, military technology products, and object equipment. The company manufacturers more than 600 lifting and lashing point products with a loading capacity of up to 200 tons.

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CODIPRO

CODIPRO is a global manufacturer of hoist rings and other safety swivel lifting rings. The company sells hoist rings under the brand name of ‘Gradup,’ which are employed for lifting loads ranging from 0.07 tons to 125.0 tons. The company also sells stainless steel hoist rings, hoist rings for use in wind power generation, offshore, and maritime industries, and customized hoist rings for various industries.

Jergens Inc.

Jergens Inc. was founded in 1942 as ‘Glenn Tool and Manufacturing’ by Jack Schron, Sr. in Cleveland, Ohio, the U.S. The company operates through four business divisions: Tooling Component Division (TCD), Jergens Industrial Supply (JIS), Acme Industrial Company (AIC) and Advanced Systems Group (ASG). The company sells hoist rings under the following brands: Lift-Check, Shackle-Lok, and Kwik-Lok. The company also sells traditional, center-pull hoist rings; traditional-style center-pull hoist rings, steel and stainless steel hoist rings, and side-pull hoist rings. The company also sells fasteners, clearance items, etc. In June 1999, the company moved its operations to a new facility spread over 110,000 square feet.

Global Hoist Rings Market: Dynamics

Rise in demand for lifting equipment across the world

Across the world, the demand for lifting equipment is on the rise. For example, RUD Group, which has a wide portfolio of 600 hoist ring products, is witnessing increase in the demand for its lifting equipment used in the heavy-duty lifting sector, offshore sector, etc. RUD Group’s hoist ring product for subsea lifting is witnessing rise in the demand among various end-use industries.

Rise in demand for hoist rings from global construction Industry

Across the world, both commercial and residential construction activities are on the rise. Hoist rings are extensively used in the construction industry for lifting various objects. Thus, rise in building construction across the world is augmenting the demand for hoist rings for use in the construction industry.

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