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    Electric Winch Market Report

    Electric Winch Market Report
    Report code - SR1162 Delivery - 2 Weeks
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    Electric Winch Market, Dynamics, Trends, Market Analysis
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    Impact of COVID-19 on Electric Winch Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Electric Winch Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Electric Winch Market is estimated to grow from USD 980.5 million in 2020 to USD 2,941.8 million by 2026 at a healthy CAGR of 20.4% during the forecast period.

    Figure: Electric Winch Market Size, 2020-2026 (USD Million)

    Electric-Winch-Market-Forecast

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    What are Electric winches?

    Electric winches are electronic devices that are used to pull up the load. These winches are used for moving and lifting all kinds of loads in different applications such as marine, automotive, and industrial sectors. Winches make use of a series of gears to transfer the power from the motor to the drum

    Key Players

    Key players operating in the electric winch market are-

    • Superwinch (The U.S),
    • Warn Industries (The U.S),
    • KA-Winch (Bulgaria),
    • Verlinde Lifting Equipment (UK),
    • Ingersoll-Rand plc (Ireland),
    • Polaris (The U.S),
    • Powertek (The U.S),
    • Haacon Hebetechnik GmbH (Germany), and
    • Harken, Inc. (The U.S)

    Market Dynamics

    Several physical and mechanical advantages of electric winches are likely to augment the industry growth in the coming years.

    • An electric power winch has a higher capacity to lift heavier objects along with less manual labor.
    • The high bearing capacity decreases the operation cost and thus these winches are more cost-effective, further boosting the market growth.
    • However, power failures are likely to hamper the electric winch industry growth during the review period.

    Segment's Analysis

    Application Trends

    Based on application, the electric winch market is classified into automotive, sports utility vehicles, all-terrain vehicles, trailers, marine, and industrial.

    • The marine segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline.
    • In addition, growing demand for Floating Production Storage and Offloading (FPSO) as a result of developments in the petroleum industry in the China, U.S., and India is further anticipated to bolster the segment growth.

    Regional Trends

    By region, the North American market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years.

    • This is mainly ascribed to lightweight portable winches allowing more flexibility, robust developments in electric winch systems, and growth strategies by vendors.
    • Also, the strong marine and automotive sectors in North America further proliferate the regional market growth.

    COVID-19 Impact on Electric Winch Market

    The COVID-19 outbreak has moderately affected the electric winch industry due to supply chain disruptions amid lockdowns. Verticals such as marine, automotive, and industrial were affected with limited operational activities due to the temporary shutdown of plants and limited workforce, thus affecting the industry growth amid the pandemic.

    Critical Questions Answered in the Report

    • What are the key trends in the electric winch market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the electric winch market?
    • What are the key strategies adopted by the major vendors to lead in the electric winch market?
    • What is the market share of the top vendors?

    Target Audience

    Here is the list of the group of customers that the Electric Winch Market hopes to have the greatest opportunity to convert-

    • Electric Winch vendors
    • Electric Winch retailers
    • Marine companies
    • Automotive companies

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    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].

    Frequently Asked Questions (FAQs)

    The electric winch market size is expected to reach USD 2,941.8 million in the foreseeable future.

    Superwinch (The U.S), Warn Industries (The U.S), KA-Winch (Bulgaria), Verlinde Lifting Equipment (UK), Ingersoll-Rand plc (Ireland), Polaris (The U.S), Powertek (The U.S), Haacon Hebetechnik GmbH (Germany) and Harken, Inc. (The U.S) are the factors driving the growth of electric winch market.

    The electric winch market is expected to witness an impressive growth of 20.4% CAGR in the coming years.

    The marine segment is expected to witness healthy growth in the electric winch market in the coming years.

    North American market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR.

    Electric Winch vendors, Electric Winch retailers, Marine companies, Automotive companies are the target audience in the electric winch market.

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