According to the report, the Chain Block market is expected to grow from USD 2,000 million in 2019 to USD 2,000 million by 2026.
Market Overview
The global Chain Block market is estimated to be USD 2,000 million in 2019 and is expected to reach USD 2,000 million by 2026.
An increasing need for supply chain transparency and rising demand for enhanced security of supply chain transactions drives the adoption of blockchain in the supply chain management. However, uncertain regulatory protocols may limit the adoption of blockchain technology in supply chain during the forecast period.
Chain Hoist is a mechanical device for lifting material, consisting of chain around a drum or wheel lift, and a hook for attaching payload.
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Competitive Insights
Key players operating in this market include KITO, STAHL, INGERSOLL RAND, DEMAG, Columbus McKinnon, R & M MATERIAL HANDLING, LIFTKET, KONECRANES, Chester Chain Block, KITO, TOYO, and HITACHI.
Regional Insights
Asia-Pacific dominates the market with a share of 30.52% and is expected to grow at the fastest rate during the forecast period. Retail and consumer goods vertical drives the blockchain in the supply chain market as Asia-Pacific is the second largest region in the e-commerce market. Asia-Pacific is economically and technologically developed region and countries such as China, Japan, and South Korea are expected to dominate the global blockchain in supply chain market in Asia-Pacific region. North America occupied 29.35% of market share in2018 and is expected to grow significantly during the forecast years due to the presence of big players and early adoption of new technologies such as IoT and artificial intelligence (AI). The US is expected to occupy more share of the global blockchain in the supply chain market in the region during the forecast period. Europe occupied 24.32% of market share in 2018.
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Based on the type, the Chain Block market can be segmented into Circular, Triangle, and others.
Application Insights
Based on application, the Chain Block market is divided into Factory, Warehouse, and Mining.
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Audience
l Chain Block manufacturers
l Distributors and resellers of Chain Block
l Chain Block industry associations
l Product managers, Chain Block industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
l Raw material suppliers of Chain Block
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