New York, NY -- (SBWIRE) -- 02/04/2021 -- A chain block is a mechanism used for lifting and lowering heavy loads using a chain. It is also known as a hand chain hoist, containing two wheels with a wounding chain. A chain block contains a hand chain, a lifting chain, and a grabbing hook. They are mostly operated by using electricity, but manual chain blocks are also available in the market. The chain winds around the wheels at the time of pulling, lifting the item which is attached to the chain via a hook. The global market for chain block is expected to accumulate significant revenue, growing at a promising CAGR over the forecast period.

Key companies and Market Share Insights:

Columbus McKinnon, KITO, Konecranes, Terex, Hitachi Industrial, TBM, Ingersoll Rand, TOYO, Shanghai yiying, ABUS crane systems, Zhejiang Guanlin, Zhejiang Wuyi, Chengday, D.Neuhaus L.P.,, Liftket, Nitchi, TXK, Chongqing Kinglong, WKTO, DAESAN, GIS AG, Nucleon, PLANETA-Hebetechnik, Liaochengwuhuan

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Market Drivers

Owing to its superior lifting capabilities, chain blocks are generally used in garages for easily removing engines from vehicles. They aid in the completion of herculean tasks in an efficient way and can be operated by a single person. Such advantages are majorly triggering demand in the overall industry. Chain blocks are found with various capacities, making them appropriate for a broad array of operations. Additionally, Chain blocks are also extensively used on various construction sites, lifting heavy loads from the higher levels. They are also preferred in assembly-line factories for lifting various items from the belt. These widespread applications are encouraging the industry's growth.

In market segmentation by types of chain blocks, the report covers-

Manual Chain Blocks
Electric Chain Blocks
Others

In market segmentation by applications of the chain block, the report covers the following uses-

Factories and warehouse
Construction Sites
Marine & Ports
Mining & Excavating Operation
Energy
Others

Regional Analysis

In terms of region, the global market for chain blocks is categorized into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is dominating the industry, owing to the growth of the chain block market in countries like China, Indonesia, India, and Japan.

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Key Reasons to Purchase this Report:

The latest research report performs qualitative and quantitative analyses of the global Chain Block market based on a wide array of economic and non-economic factors.

The report presents an accurate study of the leading regional segments and estimates their respective market growth rates over the projected timeline.

 The latest report thus endows the reader with a deep understanding of the Chain Block market's competitive landscape, incorporating the market ranking of the key market players, their new product launches, and several other business expansion policies.

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