News

Size in 2023 : Approximately US$1.5 billion (data source: Global Market Insights).

Growth rate : CAGR (compound annual growth rate) is expected to be 4.5% from 2023 to 2030 .

Regional distribution :

• Asia Pacific (45%): China and India are the main economies in terms of infrastructure demand.

• Europe (25%): Strict safety standards drive high-end product replacement.

• North America (20%): Demand for petroleum and port machinery is stable.

Scale in 2023 : About RMB 4 billion (30% of the world).

Growth rate : Benefiting from the "14th Five-Year Plan" infrastructure plan, the CAGR reached 6% (higher than the global average).

Competition landscape :

• High-end market : International brands such as Crosby and RUD account for 20%.

• Mid-range market : Domestic leaders such as Jiangsu Tongrun and Henan Weihua account for 60%.

• Low-end market : Price competition among small businesses (20%).

China :

• In 2023, the newly installed wind power/photovoltaic capacity will reach 200GW , driving the demand for hooks (for tower cranes and installation vessels).

• Urban renewal and high-speed rail construction drive the tower crane market (annual demand growth of 8%).

worldwide :

• The expansion of ports in Southeast Asia (Vietnam and Indonesia) has led to a surge in demand for container hooks.

• European offshore wind power projects (such as Dogger Bank in the UK) require highly corrosion-resistant hooks.

Penetration rate of smart hooks : about 10% in 2023 and expected to reach 30% in 2030 (IoT+5G applications).

Examples :

• Zhenhua Heavy Industries' intelligent port hook (real-time load monitoring + automatic alarm).

• Sany Heavy Industry’s “Lighthouse Factory” is equipped with RFID hooks as standard (full life cycle management).

China : The new regulation GB 6067.1-2023 requires that hooks be inspected every two years .

EU : Carbon footprint labeling will be implemented starting in 2025 , forcing material upgrades (such as low-carbon steel).

North America : OSHA raises the maximum fine for overloaded hooks to $100,000 per incident .

High strength and lightweight :

• Titanium alloy (TC4) hook: 40% weight reduction, used in aerospace.

• Composite materials (carbon fiber + metal hybrid): In the experimental stage, costs need to be reduced.

Corrosion resistance upgrade :

• 316L stainless steel + nano coating (such as graphene), suitable for chemical/marine environment.

Real-time monitoring technology :

• Strain sensor + edge computing (local analysis of stress data).

• Huawei Cloud + Hook AI Algorithm: Predicts remaining life (accuracy ≥ 90%).

Digital Twin :

• Sany Group’s “Hook Metaverse” project: virtual simulation optimization design.

Process improvements :

• Laser additive manufacturing (3D printing) reduces material waste by 30%.

• Low-temperature powder coating replaces electroplating (reduces heavy metal pollution).

Raw material fluctuations : Alloy steel (34CrMo) prices are expected to rise by 15% in 2023.

Labor cost : The monthly salary of a skilled welder exceeds 15,000 yuan (in the Yangtze River Delta region).

Problem : Small businesses compete with low prices (1t hook is only ￥200), which poses a great quality risk.

Policy response : China plans to issue a "Catalogue of Mandatory Elimination of Lifting Equipment" in 2024.

High-end market : Crosby/RUD patent blockade (such as self-lubricating bearing design).

Domestic breakthrough : Jiangsu Tongrun will develop Grade 100 hooks (benchmarked against American standards) in 2023.

Offshore wind power : Global annual installed capacity will reach 50GW (requires high corrosion-resistant hooks).

Hydrogen energy industry chain : demand for lifting liquid hydrogen storage tanks (-253℃ low-temperature hook).

Smart warehousing : AGV+automatic hook system (piloted in JD Asia No. 1 Warehouse).

Global market in 2030 : $2.2 billion (CAGR 4.5%).

Chinese market in 2030 : RMB 8 billion (35% of the world).

Domestic manufacturers :

• Deploy smart hooks (such as cooperation with Huawei and Alibaba Cloud).

• Expand the “Belt and Road” market (Southeast Asia and Middle East infrastructure).

International Brands :

• Localized production reduces costs (such as Crosby Jiangsu factory).

• Provides a "Hook as a Service" (HaaS) leasing model.

Demand is driven by infrastructure and new energy, with mid-range hooks (50-200t) being the main force.

The price war continues and industry concentration increases (small factories are eliminated).

Intelligence and greening are the core tracks.

Chinese brands are expected to replace 50% of imported products in the Asia-Pacific market.

Suppliers with IoT technology integration capabilities (such as Zhenhua and Weihua).

Special materials companies (such as Baoti Group and CITIC Special Steel).

Size in 2023 : Approximately US$1.5 billion (data source: Global Market Insights).

Growth rate : CAGR (compound annual growth rate) is expected to be 4.5% from 2023 to 2030 .

Regional distribution :

• Asia Pacific (45%): China and India are the main economies in terms of infrastructure demand.

• Europe (25%): Strict safety standards drive high-end product replacement.

• North America (20%): Demand for petroleum and port machinery is stable.

Scale in 2023 : About RMB 4 billion (30% of the world).

Growth rate : Benefiting from the "14th Five-Year Plan" infrastructure plan, the CAGR reached 6% (higher than the global average).

Competition landscape :

• High-end market : International brands such as Crosby and RUD account for 20%.

• Mid-range market : Domestic leaders such as Jiangsu Tongrun and Henan Weihua account for 60%.

• Low-end market : Price competition among small businesses (20%).

China :

• In 2023, the newly installed wind power/photovoltaic capacity will reach 200GW , driving the demand for hooks (for tower cranes and installation vessels).

• Urban renewal and high-speed rail construction drive the tower crane market (annual demand growth of 8%).

worldwide :

• The expansion of ports in Southeast Asia (Vietnam and Indonesia) has led to a surge in demand for container hooks.

• European offshore wind power projects (such as Dogger Bank in the UK) require highly corrosion-resistant hooks.

Penetration rate of smart hooks : about 10% in 2023 and expected to reach 30% in 2030 (IoT+5G applications).

Examples :

• Zhenhua Heavy Industries' intelligent port hook (real-time load monitoring + automatic alarm).

• Sany Heavy Industry’s “Lighthouse Factory” is equipped with RFID hooks as standard (full life cycle management).

China : The new regulation GB 6067.1-2023 requires that hooks be inspected every two years .

EU : Carbon footprint labeling will be implemented starting in 2025 , forcing material upgrades (such as low-carbon steel).

North America : OSHA raises the maximum fine for overloaded hooks to $100,000 per incident .

High strength and lightweight :

• Titanium alloy (TC4) hook: 40% weight reduction, used in aerospace.

• Composite materials (carbon fiber + metal hybrid): In the experimental stage, costs need to be reduced.

Corrosion resistance upgrade :

• 316L stainless steel + nano coating (such as graphene), suitable for chemical/marine environment.

Real-time monitoring technology :

• Strain sensor + edge computing (local analysis of stress data).

• Huawei Cloud + Hook AI Algorithm: Predicts remaining life (accuracy ≥ 90%).

Digital Twin :

• Sany Group’s “Hook Metaverse” project: virtual simulation optimization design.

Process improvements :

• Laser additive manufacturing (3D printing) reduces material waste by 30%.

• Low-temperature powder coating replaces electroplating (reduces heavy metal pollution).

Raw material fluctuations : Alloy steel (34CrMo) prices are expected to rise by 15% in 2023.

Labor cost : The monthly salary of a skilled welder exceeds 15,000 yuan (in the Yangtze River Delta region).

Problem : Small businesses compete with low prices (1t hook is only ￥200), which poses a great quality risk.

Policy response : China plans to issue a "Catalogue of Mandatory Elimination of Lifting Equipment" in 2024.

High-end market : Crosby/RUD patent blockade (such as self-lubricating bearing design).

Domestic breakthrough : Jiangsu Tongrun will develop Grade 100 hooks (benchmarked against American standards) in 2023.

Offshore wind power : Global annual installed capacity will reach 50GW (requires high corrosion-resistant hooks).

Hydrogen energy industry chain : demand for lifting liquid hydrogen storage tanks (-253℃ low-temperature hook).

Smart warehousing : AGV+automatic hook system (piloted in JD Asia No. 1 Warehouse).

Global market in 2030 : $2.2 billion (CAGR 4.5%).

Chinese market in 2030 : RMB 8 billion (35% of the world).

Domestic manufacturers :

• Deploy smart hooks (such as cooperation with Huawei and Alibaba Cloud).

• Expand the “Belt and Road” market (Southeast Asia and Middle East infrastructure).

International Brands :

• Localized production reduces costs (such as Crosby Jiangsu factory).

• Provides a "Hook as a Service" (HaaS) leasing model.

Demand is driven by infrastructure and new energy, with mid-range hooks (50-200t) being the main force.

The price war continues and industry concentration increases (small factories are eliminated).

Intelligence and greening are the core tracks.

Chinese brands are expected to replace 50% of imported products in the Asia-Pacific market.

Suppliers with IoT technology integration capabilities (such as Zhenhua and Weihua).

Special materials companies (such as Baoti Group and CITIC Special Steel).