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Hoists for Mining Market Size, Share & Industry Analysis, By Type (Drum Hoist, Friction Hoist, Others), By Industry (Coal Mine, Iron Ore, Non-metallic Minerals Ore, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105385 | Status : Ongoing



In mining a hoist is used for raising and lowering carriages in the mine shaft. Historically the hoists were operated with direct current drives, which utilizing Ward Leonard controlling machines and after that solid-state converters were being used. Whereas, modern hoists are powered using electric motors and use alternating current drives that are controlled with variable frequency. Hoists are operated at deep ridge of earth that can sometimes be very deep. Standard mine wherein these hoists are installed, usually extracts from 500 meters to 2,000 meters below the surface of earth. For instance, the global record for deep mining is held by a mine located in South Africa, extracting from ~3,500 meters down the earth’s surface.

Hence, a common ongoing trend in mining activities is that mines are going deeper and payloads are increasing. For instance, 60 tonnes carried at ~20m/s is the heaviest to date. Therefore, miners are demanding big kit with longer hoists, with specific designs in order to lift equipment and the ropes that goes along. The lengths of hoist ropes vary in size and can lift upto 3,000 meters. Owed to these depths, modern mining reqires high-speed hoisting capability that can lift up to speed of 60km/hr. These requirements demands quality of hoists, so that the ropes are not affected by accelerations & decelerations, weights, frictions, etc. Owed to all these the core construction of a mine rope for hoisting is different from that of normal crane rope.

Furthermore, major producers are focusing more on long-life, high-production and large projects to extraordinary depths, thus, the demand placed on hoist systems is expected to continue to intensify. Currently, hoists systems has consistently exceeded erstwhile capacity by 25% up to 50%, with hoist speed ~50% faster than older system.

Key Market Driver -

• Rising Capital Expenditure by Offshore oil & Gas Exploration Companies • Increased Demand for Load Lifting from Mining Industries

Key Market Restraint -

• Declining Ore Prices of Oil and Gas.

Key Players Covered:

Key players in the market have a prevailing presence in the market, owed to the quality of hoists, good will, and brand name. Moreover, these players are expected to have substantial growth in their business owing to the increasing market presence in the developing economies and with variety of product offerings. Also, these brands have renowned presence in the global market and have majority of the market share.

Some of the key competitors in the hoists for mining market includes ABB, Columbus McKinnon, Ingersoll Rand, Frontier-Kemper, INCO Engineering, Kito, Hepburn Engineering Inc., FLSmidth, Sichuan Mining Machinery, Terex, Dongqi Group, SIEMAG TECBERG, Uralmashplant, Deilmann-Haniel, Konecranes, Savona Equipment Ltd, and Danfoss.

Regional Analysis

Asia Pacific is anticipated hold the dominant market share and exhibit highest growth rate in the coming years. This is owed to the continuous increasing demand from the region, owing to densely populated countries. Further, increased disposable income, standard of living, etc has led to increase capital expenditure, which includes automobile purchase, private and domestic increase in LPGs, etc. Asia Pacific substantiates to be a prominent region for the key players, owed to some of the untapped developing market. Hence, increasing investments done by the companies in the region to increase the market presence is also expected to enhance the market.

Furthermore, Middle East & Africa and Latin America is anticipated to hold a stable growth. This is owed increasing focus on tourism sector in both the regions, which has led the countries to focus more on alternate income generation. Also, in the past years both these region have invested a lot in tourism infrastructure, in order to boost the economy thereby reduced focus on mining activities. Further, North America and Europe are anticipated to exhibit moderate growth with minimal alterations in the demand and the market structure. Also, the major companies in the market are shifting their focus at emerging economies, thus the region is anticipated to exhibit minor changes in the coming years.

COVID-19 pandemic is estimated to severely impact the market, owed to the lockdown impacting global downfall of transportation and supply chain logistics network. Also, reduced commercial demand for oil and natural gas has led to declined exploratory activities, which results in hampered demand for hoists. COVID-19 is wielding heavy downward pressure on the global hoists for mining market. This can be seen as companies are laying of their employees, reducing their salaries along with reduced oil exploration and cut in operational activities.

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By Type

  • Drum Hoist

  • Friction Hoist

  • Others (Blair Multi-Rope Hoist, etc.)

By Industry

  • Coal Mine

  • Iron Ore

  • Non-metallic Minerals Ore

  • Others (Non-ferrous Metal Ore, etc.)

By Region

  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico and Rest of Latin America)

Key Industry Developments

  • December 2020: Frontier-Kemper Constructors a subsidiary of Tutor Perini Corporation, got into contract of approximately $63.7 million with Warrior Met Coal BCE, LLC for the Blue Creek Energy Mine project located in Alabama. The work includes the excavation and construction of the mine slope, mine shaft, service hoist and slope hoist.

  • July 2020: Uralmashplant (UZTM) the only Russian mine hoist manufacturer, shipped mine hoist to Siberia Polymetals JSC. Hoist SHPM 5×4 kn is intended for a mine under construction at the Korbalikhinsky ore deposit. This is the second machine of this type manufactured at UZTM.

  • Ongoing
  • 2023
  • 2019-2022

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