Rigging and Lifting Slings Market 2020 by Industry Analysis, Growth Opportunity, Future and Forecast to 2030

Rigging and Lifting Slings: Introduction

Rigging slings and lifting slings are manufactured with chain, cable, webbing, and rope. It is used with a crane or lift, which helps in the safe movement of large loads.
Chain slings have the ability to handle hard-to-position loads, odd-shaped, and hot materials. Furthermore, teacup pipe lifting slings are used with sewer pipes and heavy concrete water.
Wire rope slings have utility in different heavy-duty usage in lifting and rigging applications. It can handle bulk objects with stable movement.

Key Drivers of the Global Rigging and Lifting Slings Market

Rigging and lifting slings have high usage in different end-use applications as a result of its ability to resist impact, cuts, and abrasions. The product is adjustable in nature and companies adjust the product specification as per their applications.
Rigging and lifting slings have higher demand in oily or dirty environments. These products do not degrade in terms of quality during environmental changes. This is one of the key factors driving the market growth.

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Rising Demand from Synthetic Slings to Create New Market Opportunities

Technological innovation in synthetic slings has created new opportunity in the rigging and lifting slings market. It has been observed that synthetic slings can handle lower and higher temperature in different industrial applications. For instance, it can be used within temperature range of -40 degree Fahrenheit to +400 degree Fahrenheit.

Trade Barrier in Many Countries to Restrict Market Growth

Different small-scale manufacturers are facing raw material purchase issues as a result of trade barriers in various geographical regions. Strict government regulations and volatile trade policies in different countries are expected to restrict the market growth.

Asia Pacific the Dominant Market for Rigging and Lifting Slings

Increasing number of small and large scale manufacturers in the Asia Pacific region is one of the key reasons for rigging and lifting slings demand in this region. China and India are key markets. Furthermore, Japan and South Korea also account for significant share of the rigging and lifting slings market.
Key manufacturers are operating their business from Asia Pacific and North America. However, these players have a global reach through their own sales channels or distributors. North America and Europe also have significant market share.
Industrial growth in Brazil is driving the demand for rigging and lifting slings in South America. Increasing foreign direct investment in developing countries such as Brazil, Argentina, Chile, Peru, and Columbia are driving the growth of the market in South America.

Key Players Operating in the Global Rigging and Lifting Slings Market

Key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small scale players are trying to increase their sales by improving their domestic market share. The global rigging and lifting slings market is fragmented in nature. Companies are working on product innovation and development to increase their customer base. Some of the key players operating in the global rigging and lifting slings market are listed below:

ASC Industries
BENECA
Delta Rigging & Tools
HES NZ
Industrial Rigging & Supply
LIFT-IT Manufacturing
Miami Cordage
Pro Sling & Safety
Safeway Sling
Samson Rope
Sharrow Lifting Products
Stren-Flex
Unilift Equipment

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Global Rigging and Lifting Slings Market: Research Scope

Global Rigging and Lifting Slings Market, by Product Type

Round Slings
Web Slings

Global Rigging and Lifting Slings Market, by Application

Transport
Packaging
Others

Global Rigging and Lifting Slings Market, by Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

The report on the global rigging and lifting slings market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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