Crank handle is a component or equipment which has a mechanical arm attached to a slightly longer shaft at a right angle. At the end of the shaft is a connecting rod; this connecting rod is responsible for converting circular motion into rotary or reciprocating motion. Crank handles are hand-operated and some are leg-operated as well. Crank handles are made of stainless steel, aluminum, plastic etc. Some crank handles have a revolving grip; crank handles with stationary grip is also available in the market. Usage of revolving grip crank handles is anticipated to increase during the forecast period.
Increasing usage of crank handles in industrial manufacturing, automotive and material handling, and marine sector etc. projected to be a driving factor for the market
Crank handles are increasingly used in machines especially in industrial manufacturing, automotive and material handling, and in the marine sector etc. Different types and grip of crank handles are used in various end-use industries as per requirement and convenience. Manufacturers are producing a wide and exclusive range of crank handles for various applications and also offering customized solutions to customers. These factors are anticipated to drive the sale of crank handles during the forecasted timeline. Crank handles made of stainless steel are the most commonly used crank handle.
Rise in online sale of crank handles through company-owned websites and e-commerce websites
Increase in trend of selling equipment such as crank handles through online distribution channels especially on company-owned websites and e-commerce websites such as Walmart, eBay, Amazon, and various other regional e-commerce sites across the globe is projected to create huge opportunities for producers and suppliers of crank handles in the near future. Manufacturers and suppliers also provide discounts and give exclusive offers and schemes to drive the sale on e-commerce websites etc.
North America and Europe considered to be the largest markets for crank handles
Geographically, the global crank handle market can be divided into five regions: North America, Europe , Asia Pacific, Middle East & Africa, and South America
North America accounted for major share of the global crank handle market in 2019. The market in North America and Europe is anticipated to grow at a moderate rate during the forecast period due to rise in usage of crank handles in construction, material handling, and packaging industries in the U.S., Canada, Mexico, U.K., Germany, France etc., which is projected to surge the sales of crank handles in the near future.
The crank handle market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period due to rising industrialization, and rapid increase in installation of machines in manufacturing facilities in developing nations such as China, India, Korea, Japan, and other Southeast Asian countries. These factors are projected to surge the demand for crank handles in the Asia Pacific region.
Key Players Operating in the Crank Handle Market
Prominent crank handle brands or companies are estimated to face tough competition during the forecasted timeline. Brands such as Elesa S.p.A, MONROE, Boteco Srl, and HEINRICH KIPP WERK GmbH & Co. KG etc. are producing crank handles with innovative designs, sizes, and shapes, and planning to launch more innovative and easy to carry crank handles in the market. Companies are also undertaking mergers & acquisitions or signing agreements with regional distributors and dealers to expand their business in various parts of the globe. Some of the key players operating in the global crank handle market include:
