Electric Winch Market Report

Market Insights

"The global electric winch market size was estimated at USD 1.46 billion in 2022 and is likely to grow at a CAGR of 19.45% during 2023-2028 to reach USD 4.28 billion in 2028."

Wish to get a free sample? Register Here

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.

Market Dynamics

Market Drivers

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.

COVID-19 Impact

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.

Segment's Analysis

Application Trends

"The marine segment accounted for the largest market share."

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 2022 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 Insights

"North America accounted for the largest market share."

The North American market accounted for the largest share in 2022 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.

Want to know which region offers the best growth opportunities? Register Here

Key Players

The following are the key players in the electric winch market (arranged alphabetically).

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

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the global oncology drugs market.

What Deliverables Will You Get in this Report?

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s electric winch market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across the 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: sales@stratviewresearch.com.