Industrial Counterweights Market - Trends Forecast Till 2028

Industrial Counterweights Market by Type (Swing Counterweight, Fixed Counterweight), Material (Steel & Iron, Concrete), Application (Elevators, Cranes, Forklift, Excavators, Lifts, Grinding Wheels), End User, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2022

Base Year Estimate: 2021

Report ID: D-EN-ICM-1087

Format:  

Number of Pages: 397

Domain: Energy

Industrial Counterweights Market – Trends Forecast Till 2028

The Industrial Counterweights Market size is projected to reach a CAGR of 5.9% from 2022 to 2028.

A counterweight is prominently used for counterbalancing a load, eventually helping in controlling the ascending and descending acceleration force. This aspect reduces the energy and time needed for process operations extensively. The advantages etched with industrial counterweights invite profitable growth.

Increasing demand from construction industry in industrial environment is the major factor that has supported long-term expansion for Industrial Counterweights Market.

COVID-19 has slowed the growth of the industrial counterweights market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This adversely affected the industrial counterweights market owing to the suspension of activities of end-users.

Industrial Counterweights Market Research Report

Asia Pacific is expected to account for the largest market size during the forecast period. Asia Pacific includes countries such as China, Japan, South Korea, Australia, and Rest of APAC. China and Japan, which are among the largest consumers in this region as well as globally, constitute the largest share of the industrial counterweights market.

Industrial Counterweights Market is segmented into type, material, application, end user and region.

On the basis of Type

  • Swinging Counterweights
  • Fixed Counterweights

On the basis of Material

  • Iron & steel
  • Concrete
  • Others

On the basis of Application

  • Elevators
  • Cranes
  • Forklifts
  • Excavators
  • Lifts
  • Grinding Wheels
  • Others

On the basis End-User

  • Industrial Manufacturing
  • Marine
  • Construction
  • Mining
  • Agriculture
  • Renewables
  • Logistics

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Industrial Counterweights Market Primary Respondent

 

Key Players

  • FMGC, Farinia Group
  • Sic lazaro US Inc.
  • Crescent Foundry
  • Gallizo
  • Mars Metal
  • Ultraray Metals
  • International Steel & Counterweights
  • Vietnam Cast Iron
  • Agescan International

Recent Developments

  • In January 2019, Sic Lazaro acquired Diamond Industries, a metal fabrication firm, to expand its fabrication capabilities, and, thus, the manufacturing of counterweights.
  • In February 2019, Crescent Foundry expanded its cast iron castings manufacturing capacity from 1,900 tpm to 8,333 tpm at Kulgachia in the Howrah district of West Bengal, India. The company invested USD 11.6 million in this expansion.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Industrial Counterweights Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 5.9% during the forecasting period, 2022-2028

Historical Data

2019-2020

Forecast Years

2022-2028

Base Year

2021

Units Considered

Revenue in USD billion and CAGR from 2022 to 2028

Report Segmentation

type, material, application, end user and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

FMGC, Farinia Group, Sic lazaro US Inc., Crescent Foundry, Gallizo, Mars Metal, Ultraray Metals, International Steel & Counterweights, Vietnam Cast Iron and Agescan International

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