1 Global Hoist for Mining Market Insight Analysis
The global Hoist for Mining market is valued at USD 297.12 million in 2024, with a CAGR of 5.31% from 2024 to 2033.
A hoist for mining is a transport tool used to lift, lower, or horizontally move heavy objects in a mine in underground mining. The Hoist is often used in the mining process, and it can complete underground mining and transportation work that is difficult for manpower to complete. There are three main types of cranes used in mining applications, Friction Hoist, Drum Hoist, and Blair Blair Multi-rope Hoist.
Figure Global Hoist for Mining Market Size (M USD) and CAGR (2024-2033)
2 Hoist for Mining Market Growth Drivers and Restraints
From the perspective of driving factors, the development of downstream industries has brought broad opportunities. The demand for raw materials in the modern mining industry has prompted mines to continue to mine deeper, which requires efficient shafts and inclined conveying systems, and puts higher requirements on the technical specifications and performance of mining hoists. For example, in some large mines, in order to meet mining needs, new and high-performance hoist equipment is constantly purchased.
At the same time, the global energy transition has greatly increased the demand for various minerals. In order to improve production and efficiency, mining companies have increased their investment in mining equipment. As a key equipment, the market demand for hoists has increased accordingly. The rise of automated manufacturing has also provided strong support for market development. More and more manufacturing plants have realized intelligent manufacturing, which can not only meet the requirements of mining hoist companies for production quality and efficiency, but also reduce production costs and reduce safety accidents.
The application of artificial intelligence systems has realized the flexibility, informatization and intelligence of the production process, enabling companies to produce high-quality products more efficiently, improving market competitiveness, and thus promoting the expansion of the market scale. In addition, the trend of energy conservation and environmental protection is also driving market development. The newly revised relevant regulations emphasize the energy-saving requirements of special equipment, prompting companies to develop and produce more energy-saving hoist products. For example, the use of frequency conversion technology and lightweight design not only meets regulatory requirements, but also reduces operating costs, is welcomed by the market, and promotes product upgrading and market growth.
However, market growth also faces many limiting factors. Fluctuations in raw material prices, especially sharp fluctuations in steel prices, have brought tremendous pressure to enterprises. Steel is the main cost component of mining hoists, and its price is affected by many factors, such as the Russian-Ukrainian conflict that has blocked the supply of raw materials, and European and American sanctions that have caused energy price increases, which has caused steel prices to fluctuate violently. It is difficult for enterprises to effectively control procurement costs.
Although some measures can be taken to reduce the impact, the overall effect is limited. Due to fierce market competition, enterprises have a weak ability to absorb costs by adjusting prices, which seriously affects the profitability of enterprises and restricts the development of the market. Fierce market competition is also an important limiting factor. The market capacity of mining hoists is large, but downstream customers are scattered, the industry’s R&D and innovation capabilities are relatively weak, and product homogeneity is serious, resulting in fierce price competition in the low-end market. With the adjustment and upgrading of the downstream industry structure, market competition will become more intense.
Some well-known companies may adopt low-price strategies to seize market share, further compress the profit margins of other companies, and hinder the healthy development of the market. In addition, there are safety risks in the production process of mining hoists. As special equipment, if there are loopholes in the enterprise’s production safety management system, irregular operations, or safety hazards are not discovered in time, safety accidents may occur. This will not only cause economic losses and reputation damage to the enterprise, but may also lead to a decline in market trust in the product and affect the stable growth of the market.
3 Technological Innovations in the Hoist for Mining Market
In terms of technological innovation, the results of energy-saving technology innovation are remarkable. With the increasing global attention to energy conservation and environmental protection, mining hoists have made a series of progress in energy-saving technology. For example, the application of frequency conversion technology in hoists has gradually become popular. Through the precise control of the motor operating frequency, efficient use of electric energy is achieved and energy consumption is reduced. At the same time, lightweight design has also become a trend.
The use of high-strength and lightweight materials reduces the weight of the equipment itself and reduces energy consumption while ensuring the performance of the hoist. In addition, the research and application of technologies such as low inertia design of moving parts, recycling of the potential energy of falling heavy objects and braking energy of operating mechanisms have further improved the energy utilization efficiency of hoists, reduced operating costs for enterprises, and enhanced the competitiveness of products in the market. Intelligent technology is developing rapidly.
With the continuous advancement of technologies such as artificial intelligence and the Internet of Things, mining hoists are moving towards intelligence. The intelligent system can realize real-time monitoring and remote control of the operating status of the equipment, collect data through sensors, analyze using artificial intelligence algorithms, predict equipment failures in advance, and perform maintenance in a timely manner, thereby improving the reliability and stability of the equipment. For example, some advanced hoists can realize automatic loading and unloading, precise positioning and other functions through intelligent systems, which improves the efficiency and safety of mining operations and meets the needs of modern mines for efficient and intelligent mining.
In terms of corporate mergers and acquisitions, large enterprises achieve expansion and diversified development through mergers and acquisitions. Take FLSmidth’s acquisition of Thyssenkrupp’s mining business as an example. The acquisition involved an amount of 325 million euros. Thyssenkrupp’s mining technology business unit has nearly 3,400 employees and operates in 24 countries. Through this acquisition, FLSmidth has improved its product line, transforming from a single equipment supplier to a comprehensive supplier of comprehensive mining systems, material handling, mineral processing and service solutions, which is expected to increase its annual mining revenue by more than 50%.
At the same time, it has enhanced its capabilities in the field of digital mining, and its digital integration capabilities from mining to factory processing have been improved, reducing the company’s environmental footprint and enhancing its competitiveness in the global mining equipment market. ABB has achieved business expansion through a series of strategic investments and cooperation. For example, in 2022, ABB acquired a controlling stake in Numocity, an Indian electric vehicle charging platform, and reached a strategic partnership and investment agreement with Tallarna, a British climate technology startup.
Although these initiatives are not directly aimed at the mining hoist business, by expanding its business in electric vehicle charging and energy management, ABB can enhance its own technical strength and market influence, provide broader technical support and market space for the development of the mining hoist business, and enhance its comprehensive competitiveness in related fields. Mergers and acquisitions of enterprises help integrate resources, achieve complementary advantages, promote technology sharing and innovation, enhance the competitiveness of enterprises in the global market, and also prompt changes in the market competition pattern and promote the integration and upgrading of the industry.
4 Global Hoist for Mining Market Size by Type
Friction hoists, also known as Koepe hoists, are widely used in deep mining operations due to their ability to handle significant depths (up to 2000 meters). These hoists are particularly suitable for production and service purposes, making them a popular choice in the mining industry. In 2024, friction hoists are projected to account for approximately 51.82% of the total market revenue. This significant share is attributed to their versatility and reliability in various mining applications, including coal, iron ore, and non-ferrous metal mines. The revenue generated by friction hoists is expected to be around 153.96 million USD in 2024, reflecting their dominant position in the market.
Drum hoists are the simplest and most widely used motorized hoists in the mining industry. They are typically used for dead haul operations, where the entire load is supported by the hoist without the use of counterweights. In 2024, drum hoists are expected to hold a market revenue share of approximately 40.06%, contributing around 119.02 million USD to the total market revenue. Their simplicity and effectiveness make them a preferred choice for many mining operations, particularly in shallower mines and for general material handling tasks.
Blair multi-rope hoists are variations of the double-drum hoist, designed to handle significantly higher capacities and greater loads at depth. These hoists are particularly useful in deep mining operations where high efficiency and load capacity are required. In 2024, Blair multi-rope hoists are projected to account for about 8.13% of the total market revenue, generating around 24.15 million USD. Their specialized applications and high load capacity make them a valuable addition to the mining industry, particularly in large-scale operations.
Table Global Hoist for Mining Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Friction Hoist | 153.96 | 51.82% |
Drum Hoist | 119.02 | 40.06% |
Blair Multi-rope Hoist | 24.15 | 8.13% |
5 Global Hoist for Mining Market Size by Application
In the coal mine application, it remains a major consumer of mining hoists. In 2024, the sales volume is expected to reach 637 units. Coal is a crucial energy source, and with the continuous demand for energy, coal mining activities are still extensive. Mining hoists play a vital role in coal mines, facilitating the transportation of coal, equipment, and personnel. The stable sales volume in this application reflects the consistent need for efficient hoisting equipment in coal mining operations.
For iron ore mining, the sales of mining hoists in 2024 are projected to be 218 units. Iron ore is a key raw material for the steel industry. Although the growth rate might be relatively slower compared to some other applications, the market demand for iron ore remains stable. Mining hoists are essential for the extraction and transportation of iron ore, ensuring the smooth operation of the iron ore mining industry.
The non – ferrous metal ore application shows a growing trend. In 2024, the sales volume is estimated to be 365 units. Non – ferrous metals are widely used in modern industry, agriculture, national defense, and science and technology. As the demand for these metals increases, more mining hoists are required to support the mining process. The growth in sales indicates the expanding scale of non – ferrous metal ore mining and the increasing reliance on advanced hoisting equipment.
In the non – metallic minerals ore application, the sales in 2024 are expected to be 113 units. Non – metallic minerals have diverse applications in various industries. The relatively stable sales volume in this area reflects the continuous demand for non – metallic minerals and the importance of mining hoists in their extraction.
Table Global Hoist for Mining Market Size by Application in 2024
Application | Sales (Units) 2024 |
|---|---|
Coal Mine | 637 |
Iron Ore | 218 |
Non-ferrous Metal Ore | 365 |
Non-metallic Minerals Ore | 113 |
Others | 166 |
6 Global Hoist for Mining Market Size by Region
North America is an important market for mining hoists. In 2024, its revenue market share is projected to be 14.99%. The region has a well – developed mining industry, especially in the United States and Canada. In the United States, large – scale mining operations in states with rich mineral resources, such as Alaska and Nevada, drive the demand for mining hoists.
The advanced technology and high – end manufacturing capabilities in North America also support the growth of the mining hoist market. However, the market growth in North America is relatively stable, with a limited increase in revenue share. This is mainly due to the mature nature of its mining industry, where the growth rate of new mining projects is relatively slow.
Europe has a revenue market share of 8.24% in 2024. Countries like Germany, Russia, and Ukraine have significant mining activities. Germany has a long – standing tradition in mining technology, and its mining hoist manufacturers are known for their high – quality products. Russia, with its vast mineral resources, especially in Siberia, has a large demand for mining hoists. However, the European market also faces challenges. The economic slowdown in some European countries and strict environmental regulations have affected the expansion of the mining industry, thereby limiting the growth of the mining hoist market.
The Asia – Pacific region is the largest and fastest – growing market for mining hoists, with a revenue market share of 39.18% in 2024. China is the dominant force in this region. China has a large number of mines, and with the continuous development of the economy and the increasing demand for minerals, the mining hoist market in China has witnessed remarkable growth.
For example, in Inner Mongolia and Shanxi, where there are abundant coal resources, the demand for mining hoists is huge. India is also emerging as an important market in the Asia – Pacific region. With its growing industrialization and urbanization, the demand for minerals is increasing, which in turn drives the growth of the mining hoist market. The Asia – Pacific region benefits from rapid economic development, large – scale infrastructure construction, and increasing investment in the mining industry.
Latin America has a revenue market share of 20.54% in 2024. Countries such as Brazil, Mexico, and Chile are major players in the regional mining industry. Brazil has rich iron ore and other mineral resources, and the expansion of its mining operations has led to a growing demand for mining hoists. Mexico and Chile also have significant mining activities, especially in the copper mining sector. The growth of the mining hoist market in Latin America is driven by the region’s rich mineral endowment and increasing foreign investment in the mining industry.
The Middle East and Africa region has a revenue market share of 17.05% in 2024. South Africa is a major mining country in this region, with extensive gold, diamond, and other mineral mining operations. The development of the mining hoist market in this region is closely related to the exploration and development of mineral resources. Although the region has great potential, it also faces challenges such as political instability in some areas and relatively backward infrastructure, which may affect the growth of the mining hoist market.
Figure Global Hoist for Mining Market Share by Region in 2024
7 Global Hoist for Mining Market Analysis by Major Players
7.1 ABB
Company Introduction and Business Overview:
ABB is a leading global engineering company, established in 1988, with its headquarters in Switzerland. The company operates manufacturing bases primarily in Europe, North America, and Asia Pacific, and serves customers worldwide. ABB is known for its comprehensive range of electric motors, generators, drives, and services, as well as mechanical power transmission products and integrated digital powertrains.
ABB offers a full suite of solutions for the mining industry, including electric hoists, drives, and automation systems. Their products are designed to enhance productivity, reliability, and efficiency in mining operations. ABB’s mining hoist solutions are known for their low lifecycle costs, high system availability, and comprehensive service and spare parts support.
Products:
ABB supplies various types of friction hoists and drum hoists, along with shaft equipment for production lifting processes. Their hoists are designed to meet the specific needs of mining operations, ensuring safety and efficiency in underground mining environments.
Market Performance in 2022:
In 2022, ABB’s hoist for mining operations generated a revenue of 33.13 million USD, with a gross margin of 26.43%.
7.2 SIEMAG Tecberg
SIEMAG Tecberg, established in 1871, is a renowned engineering company headquartered in Germany. The company has manufacturing bases in Europe, North America, and Asia Pacific, and serves customers globally. SIEMAG Tecberg specializes in mechanical and plant engineering services, particularly in the mining and heavy material handling sectors.
Company Introduction and Business Overview:
SIEMAG Tecberg offers a range of services including shaft hoisting, heavy material handling, underground cooling, and automation technology. Their expertise lies in designing and implementing advanced hoisting systems that enhance productivity and safety in mining operations. The company is particularly known for its Koepe hoisting systems, which are characterized by their friction-driven mechanisms and high reliability.
Products:
SIEMAG Tecberg provides friction hoists, specifically the Koepe hoisting system, which is designed for high-capacity and deep mining operations. Their hoists are equipped with advanced features such as multi-cable systems, friction flange connections, and wear-free operation, making them suitable for demanding mining environments.
Market Performance in 2022:
In 2022, SIEMAG Tecberg’s hoist for mining operations achieved a revenue of 27.60 million USD, with a gross margin of 25.47%.
7.3 Luoyang CIC
Company Introduction and Business Overview:
Luoyang CIC, established in 1981, is a prominent manufacturing company based in China. The company operates a modern industrial park and factory covering 80,000 square meters, equipped with advanced machinery and technology. Luoyang CIC serves customers worldwide, particularly in the mining, metallurgy, and construction industries.
Luoyang CIC specializes in the design, manufacturing, and installation of heavy machinery, including mining hoists. The company offers a wide range of products and services, focusing on delivering high-quality, reliable solutions for various industrial applications. Their expertise in heavy machinery manufacturing makes them a key player in the global hoist for mining market.
Products:
Luoyang CIC provides single-rope winding mining hoists, which are suitable for lifting minerals, materials, equipment, and personnel in both vertical and inclined shafts. Their hoists are designed to meet the specific needs of coal, metal, and non-metal mines, ensuring efficient and safe operations.
Market Performance in 2022:
In 2022, Luoyang CIC’s hoist for mining operations generated a revenue of 22.39 million USD, with a gross margin of 24.26%.