Global Crank Handle Market – Introduction

  • 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.

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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:

  • MONROE
  • Ketterer Antriebe
  • ROCHE
  • Elesa S.p.A
  • BRAAS
  • Tecnodin
  • Boteco Srl
  • GAMM
  • HEINRICH KIPP WERK GmbH & Co. KG
  • Erwin Halder KG

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Global Crank Handle Market – Research Scope

Global Crank Handle Market, by Type

  • Folding Crank Handle
  • Non-folding Crank Handle

Global Crank Handle Market, by Material

  • Stainless Steel
  • Cast Iron
  • Aluminum
  • Others (Plastic etc.)

Global Crank Handle Market, by Grip Type

  • Stationary Grip
  • Revolving Grip

Global Crank Handle Market, by Price Category

  • Low
  • Medium
  • High/Premium

Global Crank Handle Market, by Application

  • Automobile
  • Industrial Manufacturing
  • Marine
  • Agriculture
  • Other (Utilities etc.)

Global Crank Handle Market, by Distribution Channel

  • Online
    • Company-owned  Websites
    • E-commerce Websites
  • Offline
    • Specialty Stores
    • Other (Retail Stores etc.)

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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