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Personnel And Material Hoists Market Size Forecast: How Large Could The Market Become By 2030?
The market size for personnel and material hoists has experienced strong growth in recent years. It is anticipated to increase from $2.58 billion in 2025 to $2.78 billion in 2026, progressing at a compound annual growth rate (CAGR) of 7.7%. The expansion observed in the historic period stems from factors such as a heightened demand for temporary vertical transportation, the increasing utilization of dual-purpose hoists, a reliance on modular hoist designs, the proliferation of high-rise construction, and the integration of safety-compliant hoist systems.
The personnel and material hoists market size is projected to experience substantial growth in the coming years. It is forecast to expand to $3.71 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.5%. This anticipated growth stems from several factors, including the increasing implementation of smart monitoring hoists, a greater embrace of energy-efficient hoist systems, the evolution of automated and connected platforms, expanded use in industrial and mining vertical transport, and continuous innovation in mast and drive systems. Prominent trends expected during the forecast period involve the integration of automated hoist monitoring systems, the adoption of AI-based safety and operational controls, the deployment of smart vertical transportation solutions, the expansion of modular hoist platforms, and the implementation of connected construction equipment.
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Personnel And Material Hoists Market Growth Momentum: Which Factors Are Influencing Demand?
The expansion of construction projects is anticipated to propel the personnel and material hoists market forward. Construction project volume refers to the overall scope of construction work undertaken within a defined period, typically assessed by the quantity, magnitude, and financial value of both ongoing and completed projects. This increase in construction projects stems from heightened infrastructure demand, which, in turn, stimulates the initiation of new developments, elevates material requirements, and intensifies building activities across various regions. Personnel and material hoists play a crucial role in these projects, enabling the safe and effective vertical movement of workers, tools, and materials between different building levels, thereby enhancing site safety and productivity. As an illustration, in July 2025, the Census Bureau, a US-based federal government agency, reported that the number of privately owned dwelling units approved by building permits in June of 2025 saw a 0.2% rise from May, reaching a seasonally adjusted annual rate of 1,397,000. Consequently, the escalating volume of construction projects is directly driving the expansion of the personnel and material hoists market.
Personnel And Material Hoists Market Segment Breakdown: Which Categories Generate The Most Revenue?
The personnel and material hoists market covered in this report is segmented –
1) By Product Type: Personnel Hoists, Material Hoists, Dual-Purpose Hoists
2) By Lifting Capacity: Below 2 Tons, 2-5 Tons, Above 5 Tons
3) By Operation: Electric, Hydraulic, Pneumatic
4) By End-Use Industry: Construction, Mining, Industrial, Other End-Use Industries
Subsegments:
1) By Personnel Hoists: Single Cage Hoists, Twin Cage Hoists, Rack And Pinion Hoists, Wire Rope Hoists
2) By Material Hoists: Rack And Pinion Hoists, Wire Rope Hoists, Trolley Hoists, Winch-Driven Hoists
3) By Dual-Purpose Hoists: Rack And Pinion Dual Hoists, Wire Rope Dual Hoists, Tower-Mounted Dual Hoists, Modular Dual Hoists
Personnel And Material Hoists Market Trends Reshaping Industry Growth
Leading companies in the personnel and material hoists market are concentrating on developing innovative solutions, such as rack and pinion systems, to enhance lifting efficiency, ensure smoother vertical motion, and improve safety and stability during the transport of personnel and materials in construction and industrial settings. Rack and pinion systems are mechanical configurations that convert rotational motion into linear motion, enabling consistent and controlled vertical movement in hoists. For instance, in June 2025, Direct Hoist, a UK-based construction personnel and material hoists company, introduced the Electroelsa H05 for both material and personnel lifting. This new lifting solution employs a rack and pinion system suited for transporting both goods and personnel, accommodating diverse site requirements and restrictions. The Electroelsa H05 features a carrying capacity of 500 kg and a maximum operational height of 160 m. It can transport either goods or up to two passengers, offering flexibility for various construction demands. The hoist is designed for quick and secure assembly directly from within the cage, ensuring it is fully enclosed once erected.
Personnel And Material Hoists Market Key Players And Strategic Industry Positioning
Major companies operating in the personnel and material hoists market are Alimak Group AB, Zoomlion Heavy Industry Science & Technology Co. Ltd., Scanclimber, XL Industries, Fraco Products Ltd., Torgar, DeJong Hoists, Pega Hoist, Electroelsa Srl, GEDA GmbH, BetaMax Hoist, Safelift, Maber Hoist, Camac-Machinery, Direct Hoist, STROS, Raxtar, Beijing Ihurmo Industry, Ningbo Hongda Elevator Co. Ltd., Bocker Maschinenwerke GmbH.
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Personnel And Material Hoists Market Leading Geography: Which Region Generates The Most Revenue?
North America was the largest region in the personnel and material hoists market in 2025. The regions covered in the personnel and material hoists market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.