Industrial Lifting Equipment Market was valued at USD 32.5 Billion in 2022 and is projected to reach USD 48.3 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The Industrial Lifting Equipment Market has witnessed significant growth between 2018 and 2022, driven by increasing demand from various sectors including construction, logistics, manufacturing, and warehousing. This surge was fueled by advancements in technology, the demand for enhanced operational efficiency, and rising investments in infrastructure development across key regions globally. With a growing focus on automation, smart lifting solutions, and the demand for sustainable operations, the market for lifting equipment was expected to maintain its upward trajectory during this period.
In 2023, the outlook for the Industrial Lifting Equipment Market is poised for expansion, as the demand from 2023 to 2033 is predicted to outpace that of the previous five years. As industries recover from the global pandemic and face supply chain challenges, there is an increased focus on modernizing equipment fleets and leveraging automation technologies. A rise in e-commerce, urbanization, and the construction of new infrastructure projects globally is contributing to the demand for lifting solutions with higher capacities and advanced features, such as improved safety standards, energy efficiency, and IoT integration for predictive maintenance.
Additionally, the global emphasis on sustainability is leading to a shift towards eco-friendly lifting equipment options. Electric-powered and hybrid cranes, hoists, and other lifting machines are gaining traction as industries move towards greener alternatives. The integration of digital technologies, such as cloud-based software for fleet management, is revolutionizing operations, offering real-time data on performance, and enhancing decision-making capabilities. Furthermore, governments and regulatory bodies are mandating stricter workplace safety protocols and environmental regulations, which is further pushing the need for more advanced lifting equipment solutions.
Key regions, including North America, Europe, and Asia-Pacific, are expected to remain the largest consumers of lifting equipment. However, the rapidly growing economies in the Middle East and Africa, along with emerging markets in Southeast Asia, are becoming key players in driving the demand for industrial lifting solutions. Increased industrialization, infrastructure development, and the rapid growth of the construction and manufacturing sectors in these regions are expected to contribute significantly to the overall market growth during the 2023-2033 forecast period.
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Toyota
Kion Group
Hyster-Yale Materials Handling
Jungheinrich
Liebherr
Cargotec
Terex
Konecranes
Manitowoc
Columbus Mckinnon
Kito
Ingersoll-Rand
Linamar
Oshkosh
Zoomlion
Tadano
Haulotte Group
Xuzhou Construction Machinery Group (XCMG)
Crown Equipment
Mammoet
Komatsu
Palfinger
Shanghai Zhenhua Heavy Industry (ZPMC)
Mitsubishi Logisnext
Anhui Forklift Truck Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Lifting Equipment Market
Manufacturing
Wholesale & Retail Distribution
Freight & Logistics
Others
Based on Types the Market is categorized into Below types that held the largest Industrial Lifting Equipment market share In 2023.
Diesel
Electric
Gasoline & LPG/CNG
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Lifting Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Lifting Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Lifting Equipment Market, By Type
6. Global Industrial Lifting Equipment Market, By Application
7. Global Industrial Lifting Equipment Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Industrial Lifting Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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