Industrial Counterweights Market: Snapshot
Rising disposable income coupled with expanding urbanization levels has resulted in an increase in construction activities. Growing industrialization in regions like India and China will assure steady growth for the industrial counterweights market during the forecast period of 2021-2031.
The overwhelming use of industrial counterweights in forklifts, elevators, grinding wheels, excavators, cranes, lifts, and others will assure considerable growth for the global market. Industrial manufacturing, agriculture, construction, renewables, logistics, mining, and marine are important end-user industries of the industrial counterweights market. These counterweights are made of concrete, iron, steel, and others. Based on type, the global market for industrial counterweights can be classified into fixed counterweights and swinging counterweights.
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A counterweight is prominently used for counterbalancing a load, eventually helping in controlling the ascending and descending acceleration force. This aspect reduces the energy and time needed for process operations extensively. The advantages etched with industrial counterweights invite profitable growth.
Transparency Market Research (TMR) has obtained considerable information on the overall growth trajectory of the industrial counterweights market. The upcoming report on the industrial counterweights market gives a detailed insight about diverse growth aspects. Furthermore, the COVID-19 impact is also included in the report.
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Industrial Counterweights Market: Wholesome Competitive Insights
The industrial counterweights market is fragmented, consisting of numerous players in the race for attracting a large consumer base. Manufacturers in the industrial counterweights market are involved in intense research and development activities. These activities help in strengthening the growth trajectory of the industrial counterweights market.
Mergers and acquisitions have a pivotal role in the growth of the industrial counterweights market. The players are involved in these activities for increasing their influence across various regions. In addition, these activities are also beneficial for expanding production capacity. Expansion of production capacities results in an increase in the revenues and assures seamless and speedy product distribution.
Some well-entrenched players in the industrial counterweights market are Lazaro Industrial, Mars Metal, Agescan International, Shanxi Huaxiang Group Co. Ltd., Messerschmidt Industriedesign, SO ME FER srl, Sic Lazaro Industrial, International Steel & Counterweights, Edgetech Industries, AMAC Alloys, and VALSUSA SAS.
Industrial Counterweights Market: Important Trends
Growing Influence of Industrial Counterweights in Material Handling Operations to Add Value to Growth Structure
Material handling equipment is needed across many industries such as logistics, transportation, manufacturing, and e-commerce. The expanding focus on safe practices while working and the heightening popularity of automation is driving the need for material handling. While lifting heavy loads, extra weight is needed for counterbalancing it. This is where industrial counterweights come into the picture. Hence, these aspects serve as growth generators for the industrial counterweights market.
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Counterweights Made From Iron and Steel to Generate Substantial Growth
The use of industrial counterweights made from steel and iron are gaining considerable traction. The properties of iron and steel such as good ductility, tensile strength, etc. prove to be useful for demand generation. Hence, the iron and steel material segment is estimated to observe the highest growth.
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