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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 Forecast 2024-2028
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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.
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.
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.
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.
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.
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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.
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.
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.
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.
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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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