This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Multiple Benefits Push Adoption Of Electric Drives In The Global Elevator, Crane And Hoists Market, Finds Frost & Sullivan

LONDON, Feb. 21, 2013 /PRNewswire/ -- The need to improve user safety, process control, efficiency and productivity is fuelling the adoption of electric drives in the global elevator, crane and hoist segments. In addition to the benefits it offers, falling prices will also encourage the uptake of electric drives across these segments.

New analysis from Frost & Sullivan (, Global Electric Drives Market in the Elevator, Crane and Hoist Segments, finds that the market earned revenues of $1,509.2 million in 2011 and estimates this to reach $1,950.1 million in 2016.

"There is a demand to optimally balance technology and price in the electric drives market," noted Frost & Sullivan Industrial Automation and Process Control Research Analyst Ramasubramanian Natarajan. "Manufacturers who can develop application-specific solutions for mining hoists, tower cranes and factory cranes stand to make strong revenue gains."

Developing countries in the Asia Pacific, Eastern Europe, Russia and Latin America will largely contribute to the total market revenues over the forecast period. In the medium-term, as the impact of recession subsides in the Americas and Europe, and with the strengthening of economies in countries like China, India, South Korea, Brazil and Russia, further investments are expected in infrastructure, entertainment, marine transportation and mining. These trends will improve the sales of electric drives in the elevator, crane and hoist segments.

Early entry into the emerging markets of North Africa, Latin America and East Asia will boost brand awareness and open new growth avenues for manufacturers. Establishing manufacturing and service facilities in high-growth, developing countries will allow manufacturers to leverage low-cost production and expand their market reach.

"Improving regenerative braking technology and offering it at an affordable price will advance the market for replacements of electric drives in the elevator, crane and hoist segments," advised Natarajan. "Additionally, entering into long-term contracts with mine developers and infrastructure developers will aid in revenue growth."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs