Electric Winch Market Report
The report on the Electric Winch Market is segmented By Type (Single Reel, Double Reel), By Application (Automotive, Sports Utility vehicles, All-Terrain Vehicles, Trailers, Marine, Industrial), and Region - COVID-19 Impact Analysis and Forecast to 2026. This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global electric winch market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The report on the Electric Winch Market is segmented By Type (Single Reel, Double Reel), By Application (Automotive, Sports Utility vehicles, All-Terrain Vehicles, Trailers, Marine, Industrial), and Region - COVID-19 Impact Analy...
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.
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.
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 operating in the electric winch market are-
Several physical and mechanical advantages of electric winches are likely to augment the industry growth in the coming years.
Based on application, the electric winch market is classified into automotive, sports utility vehicles, all-terrain vehicles, trailers, marine, and industrial.
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.
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.
Here is the list of the group of customers that the Electric Winch Market hopes to have the greatest opportunity to convert-
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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.