Winch and Capstan Market

The global market for winches and capstans is projected to see steady growth in consumption and value terms from 2022 to 2030. The United States leads in both consumption and imports, while China dominates production and exports. With increasing demands worldwide, key market trends and growth rates provide valuable insights for industry players.

Market Forecast

Driven by increasing demand for winches and capstans worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.4% for the period from 2022 to 2030, which is projected to bring the market volume to 31M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.4% for the period from 2022 to 2030, which is projected to bring the market value to $16.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Winches And Capstans

In 2022, global winch and capstan consumption expanded rapidly to 30M units, growing by 13% compared with the previous year. The total consumption volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global winch and capstan market revenue totaled $9.1B in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a noticeable curtailment. Over the period under review, the global market attained the maximum level at $11.5B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The country with the largest volume of winch and capstan consumption was the United States (18M units), comprising approx. 61% of total volume. Moreover, winch and capstan consumption in the United States exceeded the figures recorded by the second-largest consumer, China (2.8M units), sixfold. India (1.6M units) ranked third in terms of total consumption with a 5.3% share.

In the United States, winch and capstan consumption increased at an average annual rate of +2.2% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+6.3% per year) and India (+9.1% per year).

In value terms, the largest winch and capstan markets worldwide were Japan ($1.1B), Mexico ($693M) and the United States ($501M), together comprising 25% of the global market.

Mexico, with a CAGR of +12.7%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of winch and capstan per capita consumption was registered in the United States (54 units per 1000 persons), followed by Canada (20 units per 1000 persons), Japan (4 units per 1000 persons) and Russia (3.8 units per 1000 persons), while the world average per capita consumption of winch and capstan was estimated at 3.8 units per 1000 persons.

In the United States, winch and capstan per capita consumption expanded at an average annual rate of +1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Canada (-6.0% per year) and Japan (+0.5% per year).

Production

World Production of Winches And Capstans

In 2022, global production of winches and capstans reduced slightly to 19M units, shrinking by -3.6% against 2021 figures. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. Global production peaked at 21M units in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, winch and capstan production fell modestly to $14.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 12%. Over the period under review, global production reached the peak level at $15.9B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (11M units) constituted the country with the largest volume of winch and capstan production, accounting for 56% of total volume. Moreover, winch and capstan production in China exceeded the figures recorded by the second-largest producer, the United States (2.2M units), fivefold. India (1.8M units) ranked third in terms of total production with a 9.2% share.

In China, winch and capstan production expanded at an average annual rate of +2.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (-13.1% per year) and India (+10.2% per year).

Imports

World Imports of Winches And Capstans

Global winch and capstan imports surged to 21M units in 2022, with an increase of 23% against the previous year's figure. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.1% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, winch and capstan imports rose slightly to $2.1B in 2022. Overall, imports, however, showed a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of 12%. Global imports peaked at $3B in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

The United States prevails in imports structure, finishing at 16M units, which was near 79% of total imports in 2022. Canada (912K units), Russia (550K units), the Netherlands (432K units) and South Africa (317K units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +9.8% from 2012 to 2022. At the same time, South Africa (+25.2%), Russia (+7.1%) and the Netherlands (+3.3%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing importer imported in the world, with a CAGR of +25.2% from 2012-2022. By contrast, Canada (-4.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +22 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($410M) constitutes the largest market for imported winches and capstans worldwide, comprising 19% of global imports. The second position in the ranking was held by Canada ($96M), with a 4.5% share of global imports. It was followed by Russia, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +3.5%. In the other countries, the average annual rates were as follows: Canada (-0.1% per year) and Russia (-0.2% per year).

Import Prices By Country

The average winch and capstan import price stood at $104 per unit in 2022, shrinking by -16.6% against the previous year. In general, the import price showed a deep downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 0.1% against the previous year. Over the period under review, average import prices reached the peak figure at $240 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($163 per unit), while the United States ($25 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.9%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Winches And Capstans

In 2022, approx. 10M units of winches and capstans were exported worldwide; declining by -3.7% against 2021. The total export volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports reached the peak of 11M units, and then fell slightly in the following year.

In value terms, winch and capstan exports amounted to $2.4B in 2022. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 16%. Over the period under review, the global exports hit record highs at $3.2B in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China dominates exports structure, recording 8.1M units, which was approx. 80% of total exports in 2022. The following exporters - the Netherlands (374K units), the United States (216K units), India (207K units) and the UK (179K units) - together made up 9.6% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of winches and capstans. At the same time, India (+38.3%), the Netherlands (+14.0%) and the UK (+10.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +38.3% from 2012-2022. By contrast, the United States (-8.1%) illustrated a downward trend over the same period. While the share of the Netherlands (+2.6 p.p.) and India (+2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the United States (-3.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($690M) remains the largest winch and capstan supplier worldwide, comprising 29% of global exports. The second position in the ranking was held by the United States ($189M), with a 7.9% share of global exports. It was followed by the UK, with a 3.7% share.

In China, winch and capstan exports increased at an average annual rate of +2.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (-6.8% per year) and the UK (+1.5% per year).

Export Prices By Country

In 2022, the average winch and capstan export price amounted to $235 per unit, surging by 8.6% against the previous year. Overall, the export price, however, showed a slight reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the peak figure at $382 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($875 per unit), while China ($85 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform