Market Executive Summary

REPORT HIGHLIGHT

The Electric Winch market is estimated to represent a global market of USD 860.9 million by 2017 with growth rate of 19.8%.

Market Dynamics

The global electric winch market is witnessing immense growth over the forecast period on account of increasing demand for winches in emerging and mature markets such as the U.S., China, and India. Growing rate of millennial interest over adventure sports such as snowboarding, wake-boarding, waterboarding, as well as ATV mounted sports, is going to set the demand for electric winches globally.

The demand for these products is also fueled by the significant growth of construction, shipping and landscape industries where winches are considered for their dependable operations and high quality. As electric winches are a perfect combination of proven reliability, high performance and simple operations, the demand for winches is set to experience a strong growth in terms of its application in drilling oil fields, since requirement for crude oil and rig counts globally have been increasing. Growing demand for floating production storage and offloading (FPSO) vessels as a result of improvement in petroleum sector in major oil producing nations including the U.S., Russia and UK is expected to have a strong impact.

Application Takeaway

Revenue wise, automotive is expected to account for highest share. The revival of the automotive industry in developed countries including the Germany, U.S. and the UK is expected to increase the product usage. However, the predominant consumption of mechanical and hydraulic winches in the automotive sector is likely to limit the use of electric winches.

Marine is expected to foresee significant growth from 2018 to 2028. Rising demand for Floating Production Storage and Offloading (FPSO) as a result of improvements in the petroleum industry in the U.S., China, and India is expected to open new market avenues over the next eight years. Further, the predominant consumption of electric winches in the automotive, as well as marine industries as a result of high product rates, is expected to limit the growth of other application segments in the near future.

Regional Takeaway

Regionally, North America accounted for the highest revenue share. Whereas, Asia Pacific is expected to remain fastest market. This growth is attributed to the improvement in transportation sector including automotive and marine in countries including India, China, Japan and Taiwan.

Key Vendor Takeaway

Manufacturers studied under this report scope are;

Superwinch

Warn Industries

KA-Winch

Verlinde Lifting Equipment

Ingersoll-Rand plc

Verlinde Lifting Equipment

Polaris

Powertek

Product innovation along with the strategic partnerships with buyers are anticipated to remain success factors over the study period. The manufacturers aim to achieve optimum business growth and strong market position through implementation of various technologies, and innovation to enter specific markets that utilizes winches for organizations productivity.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year ? 2017 ? 2021
Base Year ? 2021
Estimated Year ? 2022
Projected Year ? 2028
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY APPLICATION

Automotive
Sports Utility vehicles
All-Terrain Vehicles
Trailers
Marine
Industrial
MARKET, BY REGION

North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America