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Europe - Electric and Hydraulic Vehicle Winch Market by Type and Application - Forecast and Analysis 2024-2028

Europe - Electric and Hydraulic Vehicle Winch Market by Type and Application - Forecast and Analysis 2024-2028

Published: Jan 2024 146 Pages SKU: IRTNTR74691

Market Overview at a Glance

$513.72 Mn
Market Opportunity
6.27%
CAGR
5.05
YoY growth 2023-2024(%)

Europe - Electric and Hydraulic Vehicle Winch Market 2024-2028

 The Europe - Electric and Hydraulic Vehicle Winch Market size is forecast to increase by USD 513.72 million, at a CAGR of 6.27% between 2023 and 2028. The growth rate of the market depends on several factors, such as the availability of affordable winches with good quality and quick installation, the growing market for SUVs and pickup trucks in European automotive industry, and the increasing demand for winches for use in LCVs

The report offers extensive research analysis on the Europe - Electric and Hydraulic Vehicle Winch Market, with a categorization based on Type, including electric vehicle and hydraulic vehicle. It further segments the market by Application, encompassing automotive, industrial, marine, and others. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.

Europe Electric And Hydraulic Vehicle Winch Market Forecasting

Electric and Hydraulic Vehicle Winch Market in Europe Size

Europe Electric and Hydraulic Vehicle Winch Market Forecast 2024-2028

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Europe Electric and Hydraulic Vehicle Winch Market Dynamics

Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the Europe electric and hydraulic vehicle winch market growth during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.    

Driver - Growing market for SUVs and pickup trucks in European automotive industry

There is an increasing preference for off-road vehicles, such as pickup trucks and big sport utility vehicles (SUVs), in the European automotive market. In addition, the need for bigger off-road vehicles has been driving the adoption of SUVs and pickup trucks for the past few years. Furthermore, the sales of off-road vehicles are on an upward trend in Germany, the UK, Italy, and other European countries, with SUVs and light-duty trucks witnessing growth in volume sales.

Moreover, the volume sales of pickup trucks and SUVs are rapidly outpacing the sales of all other vehicle types in the European region. In addition, according to the 2021 sales data released by the world's top automakers, off-road truck and SUV sales were 66.7 million automobiles. Hence, such factors are driving the Europe electric and hydraulic vehicle winch market growth during the forecast period.

Trends - Development of lightweight, portable winches

Automotive winch systems have varied configurations based on the towing applications, the force needed for towing, and the type of vehicle on which it is installed. In addition, to increase the flexibility of these winch systems in towing activities, automotive winch designers and manufacturers are now offering portable winches that can increase the overall applicability of the system. Furthermore, such winches are designed to allow the installation of telecommunication cables and employ an 813-mm diameter single capstan to impact a controlled force to the pulling rope or cable.

Moreover, the single capstan enables the winch to be placed at the midpoint of a section to assist in the pull, allowing for longer pulls. In addition, the winch has a rope take-up drum that is independently driven by a hydraulic motor, as well as a detachable side that allows the rope on the drum to be removed in a tidy coil. Furthermore, portable or removable automotive winches can be used for heavy-duty applications. Hence, such factors are driving the Europe electric and hydraulic vehicle winch market growth during the forecast period.

Challenge - Regulatory challenges due to growing transportation of vehicles

It is observed that the greenhouse gas (GHG) and criteria air contaminant (CAC) emissions are rising due to the increasing transportation of vehicles, posing a challenge to the electric and hydraulic winch vehicle market.In addition, it is estimated that the transportation sector in Europe generated more than 72% of GHG emissions in 2021.

For instance, in developed countries like Germany, it was estimated that in 2021, transportation activities generated more than 12% of the total GHG emissions compared to 2020, out of which more than 40% is estimated from freight transportation in 2019, which includes the movement of heavy hauls, rails, marine vessels, and smaller or special purpose vehicles. Furthermore, governments are implementing strict regulations to cut down these emissions by restricting transport vehicles that do not comply with the standards. Hence, such factors are hindering the Europe electric and hydraulic vehicle winch market growth during the forecast period.

Europe Electric and Hydraulic Vehicle Winch Market Segmentation by Type and Application

Type Segment Analysis: 

The electric vehicle segment is estimated to witness significant growth during the forecast period. An EV segment is a battery-powered vehicle that uses an electronic traction motor for propulsion. In addition, an EV can either be self-contained with a battery, solar panels, or an electric generator to convert fuel to electricity or have a collector system, which powers from off-vehicle sources. Furthermore, EVs can be partially or fully powered by electric power.

Electric and Hydraulic Vehicle Winch Market in Europe Size

Customised Report as per your requirements!

The electric vehicle segment was the largest segment and was valued at USD 863.95 million in 2018. Moreover, the tightening fuel economy regulations and growing commitments from domestic automakers are the major factors driving the growth of the EV segment in Europe. In addition, the urgent need to address the risks and consequences of climate change is a primary driver of the change and innovation in the EV in Europe. Furthermore, as the transport network grows, transportation has become increasingly congested, while the demand for mobility is perpetually rising. As a result, people are shifting toward carpooling, car-sharing, and ridesharing. Therefore, the use of EVs for these modes of transport is also growing. Hence, such factors are fuelling the growth of this segment which in turn drives the Europe electric and hydraulic vehicle winch market growth during the forecast period.

Application Segment Analysis:

Based on the application, the market has been segmented into automotive, industrial, marine, and others. The automotive segment will account for the largest share of this segment. The Europe electric and hydraulic vehicle winch market is fuelled by the increased adoption of innovative winching technologies in the automotive segment. In addition, electric and hydraulic winches are in high demand in automotive applications, notably in off-road and adventure vehicles. Moreover, leading manufacturers, such as Warn Industries, Superwinch, and Mile Marker Industries, provide unique winching systems designed specifically for the automotive industry. In addition, the integration of high-performance winches is driven by the emphasis on vehicle recovery, towing capabilities, and off-road experiences. Hence, such factors are fuelling the growth of this segment which in turn drives the Europe electric and hydraulic vehicle winch market growth during the forecast period.

Who are the Major Europe Electric and Hydraulic Vehicle Winch Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ironman 4X4 Pty Ltd: The company offers electric and hydraulic vehicle winch such as 12v electric winches

We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:

BPE Holdings Ltd., Columbus McKinnon Corp., Dana SAC UK Ltd, DELTA Hijswerktuigen, DRAGON WINCH, Friedrich Koster GmbH, Gebuwin BV, Goodwinch Ltd., Ingersoll Rand Inc., LKQ Corp., Marotechniek BV, Naust Marine ehf., PLANETA Hebetechnik GmbH, Powerwinch, Red Winches Ltd., Rotzler Holding GmbH Co. KG, Rydam Universal Ltd., Sepson AB, and Thern Inc.

Technavio Europe electric and hydraulic vehicle winch market research report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Segment Overview

The Europe electric and hydraulic vehicle winch market analysis and report forecasts market growth and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028. 

  •  Type Outlook 
    • Electric vehicle
    • Hydraulic vehicle
  • Application Outlook 
    • Automotive
    • Industrial
    • Marine
    • Others

Europe Electric And Hydraulic Vehicle Winch Market Scope

Report Coverage

Details

Page number

146

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.27%

Market Growth 2024-2028

USD 513.72 million

Market structure

Fragmented

YoY growth 2023-2024(%)

5.05

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

BPE Holdings Ltd., Columbus McKinnon Corp., Dana SAC UK Ltd, DELTA Hijswerktuigen, DRAGON WINCH, Friedrich Koster GmbH, Gebuwin BV, Goodwinch Ltd., Ingersoll Rand Inc., Ironman 4X4 Pty Ltd., LKQ Corp., Marotechniek BV, Naust Marine ehf., PLANETA Hebetechnik GmbH, Powerwinch, Red Winches Ltd., Rotzler Holding GmbH Co. KG, Rydam Universal Ltd., Sepson AB, and Thern Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Europe Electric And Hydraulic Vehicle Winch Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the Europe electric and hydraulic vehicle winch market between 2023 and 2028
  • Precise estimation of the Europe electric and hydraulic vehicle winch market growth and trends and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming Europe electric and hydraulic vehicle winch market trends and analysis and changes in consumer behavior
  • Europe electric and hydraulic vehicle winch market growth and forecasting across Europe
  • A thorough market research and growth of the market’s competitive landscape and detailed information about companies
  • Comprehensive market report analysis of factors that will challenge the growth of Europe electric and hydraulic vehicle winch market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Electric and Hydraulic Vehicle Winchin Europe market growth will increase by $ 513.72 mn during 2024-2028.

The Electric and Hydraulic Vehicle Winchin Europe market is expected to grow at a CAGR of 6.27% during 2024-2028.

Electric and Hydraulic Vehicle Winchin Europe market is segmented by Type( Electric vehicle, Hydraulic vehicle) Application( Automotive, Industrial, Marine, Others)

BPE Holdings Ltd., Columbus McKinnon Corp., Dana SAC UK Ltd, DELTA Hijswerktuigen, DRAGON WINCH, Friedrich Koster GmbH, Gebuwin BV, Goodwinch Ltd., Ingersoll Rand Inc., Ironman 4X4 Pty Ltd., LKQ Corp., Marotechniek BV, Naust Marine ehf., PLANETA Hebetechnik GmbH, Powerwinch, Red Winches Ltd., Rotzler Holding GmbH Co. KG, Rydam Universal Ltd., Sepson AB, Thern Inc. are a few of the key vendors in the Electric and Hydraulic Vehicle Winchin Europe market.

Europe will register the highest growth rate of 100% among the other regions. Therefore, the Electric and Hydraulic Vehicle Winchin Europe market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

Germany, UK, France, Italy, Rest of Europe

  • Availability of affordable winches with good quality and quick installationThe European automotive trailer recovery systems are witnessing the development of a wider portfolio of products with superior quality and higher reliability. The electric and hydraulic vehicle winch market in Europe is a primary segment of the European trailer recovery system is the driving factor this market.
  • which has seen improvements and developments in system design and functionalities to deliver superior performance in towing applications that require electric and hydraulic winches. About a decade ago is the driving factor this market.
  • these systems used to cost $700-$900 on average. However is the driving factor this market.
  • automotive winch systems have become more affordable is the driving factor this market.
  • reliable is the driving factor this market.
  • and durable with time. Technological improvements have also led to the manufacturing of high-quality automotive winch systems with faster installation processes and procedures. The increased competition in the market has led to the availability of numerous winch systems in the market with different profile designs for custom use. The automotive winch systems available in the market have optimum pulling power and are available at a reasonable price with significantly reduced free-spooling action. In addition is the driving factor this market.
  • the advances in winch system design have made way for quicker installation is the driving factor this market.
  • wherein most of the winch systems incorporate a solenoid design for optimum delivery performance. The players in the European automotive trailer recovery system market are now offering winches at an average price of $300-$400 is the driving factor this market.
  • which have sufficient pulling power. These affordable winches are available as packages that include a forged or anodized hook is the driving factor this market.
  • a safety strap is the driving factor this market.
  • a hardened cable is the driving factor this market.
  • a powder-coated roller fairlead is the driving factor this market.
  • a remote control is the driving factor this market.
  • mounting hardware is the driving factor this market.
  • and brackets. Hence is the driving factor this market.
  • the availability of such low-priced automotive winch systems with good in-built quality from well-established players is driving the growth of the electric and hydraulic vehicle winch market in Europe during the forecast period. is the driving factor this market.

The Electric and Hydraulic Vehicle Winchin Europe market vendors should focus on grabbing business opportunities from the Electric vehicle segment as it accounted for the largest market share in the base year.