Global Industrial Lifting Equipment Market, By Type (Lifts, Pallet Trucks, Forklifts, Hoists, Stackers, Robotic Arms), Mechanism (Electrical, Magnetic, Hydraulic, Pneumatic, Scissor Lifts), Application (Construction, Shipping Dockyards and Warehouses, Manufacturing Industry, Process Industry) – Industry Trends and Forecast to 2029
Market Analysis and Size
The manufacturing industries have witnessed high growth since the second industrial revolution. Industries are continuously emphasizing their ‘all under one roof’ policy while enhancing production capacity. These industrial lifting equipment are ideal for warehousing operations, recycling operations and dockyards to perform numerous functions.
Global industrial lifting equipment market was valued at USD 74.03 billion in 2021 and is expected to reach USD 107.72 billion by 2029, registering a CAGR of 4.80% during the forecast period of 2022-2029. Shipping Dockyards and Warehouses is expected to witness high growth in the application segment of the market owing to the rise in the e-commerce sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Industrial lifting equipment can be defined as those semiconductor devices and equipment that find their usage in various heavy-duty industries for lifting other machineries and products created by these industries. These devices are used to reduce the workload and human errors in lifting and transportation of products and other machineries from a specific location to other.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Lifts, Pallet Trucks, Forklifts, Hoists, Stackers, Robotic Arms), Mechanism (Electrical, Magnetic, Hydraulic, Pneumatic, Scissor Lifts), Application (Construction, Shipping Dockyards and Warehouses, Manufacturing Industry, Process Industry)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Anhui Heli Co., Ltd. (China), HAULOTTE GROUP (France), Ingersoll-Rand (US), SSAB (Sweden), Zoomlion Heavy Industry Science&Technology Co., Ltd. (China), Hyster-Yale Materials Handling, Inc. (US), PALFINGER AG (Austria), Cargotec Corporation (Finland), Columbus McKinnon Corporation (US), TOYOTA INDUSTRIES CORPORATION (Japan), KITO CORPORATION (Japan), XCMG Group (China), Linamar (Canada), Terex Corporation (US), Jungheinrich AG (Germany), Liebherr Group (Germany), Konecranes (Finland), Manitowoc (US), Tadano Ltd. (Japan), Crown Equipment Corporation (US), Mammoet (Netherlands), Komatsu Ltd. (Japan), and MITSUBISHI LOGISNEXT CO.,LTD (Japan), among others
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Market Opportunities
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Industrial Lifting Equipment Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Expansion of Construction Industry
The rise in the construction industry along with the swift industrialization is one of the major factors driving the growth of industrial lifting equipment market. These trucks are popular for being powerful, user-friendly, economical, and easy to maintain. They are usually utilized in several industrial tasks owing to their unique features.
- Increase in Warehouses
The surge in number of warehouse developments in the advancing countries accelerate the market growth. The rise in need from the manufacturing industry has a positive impact on the growth of the market.
- Concerns regarding Safety
The increase in the adoption of industrial lifting equipmenmt to enhance productivity, and reduce injuries and disasters further influence the market. Also, an inclination for IC-engine forklift trucks in developing regions assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the industrial lifting equipment market.
Opportunities
Furthermore, development of customized forklifts and growth of the e-commerce industry extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in demand in the construction industry will further expand the market.
Restraints/Challenges
On the other hand, high initial investment and high maintenance costs along with high failure rates are expected to obstruct market growth. Also, lack of skilled operators is projected to challenge the industrial lifting equipment market in the forecast period of 2022-2029.
This industrial lifting equipment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on industrial lifting equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Industrial Lifting Equipment Market
The COVID-19 had a negative impact on industrial lifting equipment market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for industrial lifting equipment market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the industrial lifting equipment market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Recent Developments
- In June 2020, Hyster-Yale Materials Handling, Inc., had acquired Zhejiang Maximal Forklift Co., Ltd. Hyster had acquired 75 percent of the outstanding shares. This acquisition has helped the company to strengthen its product portfolio in material handling equipment.
Global Industrial Lifting Equipment Market Scope and Market Size
The industrial lifting equipment market is segmented on the basis of type, mechanism and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Lifts
- Pallet Trucks
- Forklifts
- Hoists
- Type
- Wire Rope
- Roller Load Chain
- Welded Link Load Chain
- Others
- Applications
- Pneumatic
- Hydraulic
- Electric
- Stackers
- Robotic Arms
Mechanism
- Electrical
- Magnetic
- Hydraulic
- Pneumatic
- Scissor Lifts
Application
- Construction
- Shipping Dockyards and Warehouses
- Manufacturing Industry
- Process Industry
Industrial Lifting Equipment Market Regional Analysis/Insights
The industrial lifting equipment market is analyzed and market size insights and trends are provided by country, type, mechanism and application.
The countries covered in the industrial lifting equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) dominates the industrial lifting equipment market due to the increasing demand for cranes and hoists in the mining industry, rise in the demand for the product from mining and construction industries due to the rise in levels of industrialization activities within the region.
North America and Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increasing need for infrastructure and rising investment by the government for the development of the products in these regions.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial Lifting Equipment Market
The industrial lifting equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial lifting equipment market.
Some of the major players operating in the industrial lifting equipment market are
- Anhui Heli Co., Ltd. (China)
- HAULOTTE GROUP (France)
- Ingersoll-Rand (US)
- SSAB (Sweden)
- Zoomlion Heavy Industry Science&Technology Co., Ltd. (China)
- Hyster-Yale Materials Handling, Inc. (US)
- PALFINGER AG (Austria)
- Cargotec Corporation (Finland)
- Columbus McKinnon Corporation (US)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- KITO CORPORATION (Japan)
- XCMG Group (China)
- Linamar (Canada)
- Terex Corporation (US)
- Jungheinrich AG (Germany)
- Liebherr Group (Germany)
- Konecranes (Finland)
- Manitowoc (US)
- Tadano Ltd. (Japan)
- Crown Equipment Corporation (US)
- Mammoet (Netherlands)
- Komatsu Ltd. (Japan)
- MITSUBISHI LOGISNEXT CO.,LTD (Japan)
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