Industrial Lifting Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Industrial Lifting Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Industrial Lifting Equipment – Introduction
Industrial lifting equipment are widely adopted for lifting or moving heavy machinery or equipment from one place to other. Different types of lifting equipment, such as cranes, hoists, forklifts, stackers, and hook-pulleys are witnessing growing adoption for numerous applications across diverse industries, primarily in manufacturing units, construction sites, and warehouses. As these lifting equipment reduce human workload and injuries caused by lifting heavy machinery, they have witnessed an increased traction in recent years. Furthermore, the growing demand for rapid and safe working has necessitated the adoption of industrial lifting equipment across diverse sectors. These factors pushed the industrial lifting equipment market to value roughly US$ 64 Billion in 2018.
Industrial Lifting Equipment – Competitive Landscape
- In April 2019, Toyota Industries North America formally acquired the assets of Hoist Liftruck Manufacturing LLC, a U.S. manufacturer of high-capacity liftrucks. Toyota has called this acquisition the ideal next step in the expansion of their big truck strategy.
- In February 2019, a leading player in industrial lifting equipment market, Liebherr showcased its four novel mobile cranes, LR 1800-1.0 crawler crane, LTM 1230-5.1 mobile crane, an 8-axle and a 5-axle crane at bauma 2019. These newly-launched cranes make high performing, cost effective, and flexibility lifting equipment, as they are backed by the company’s consistent advanced development of successful technologies.
Liebherr-Werk Ehingen GmbH
Founded in 1969, Liebherr-Werk Ehingen GmbH is a global leader in mobile cranes manufacturing space. The company’s extensive product portfolio include high-tech telescopic & lattice boom cranes on crawler and wheeled chassis.
Toyota Industries
Founded in 1926 & headquartered in Kariya, Japan, Toyota Industries Corporation manufactures & sells material handling equipment, textile machinery, and automobiles in Japan and beyond.
KION Group
Established in 2006 & headquartered in Frankfurt am Main, Germany, the group provides a wide range of industrial trucks, supply chain solutions, warehouse technology, and related services globally. KION Group develops, manufactures, and sells forklifts & warehouse trucks, and operates in Supply Chain Solutions, and Industrial Trucks & Services segments.
Terex Corporation
Founded in 1925 and headquartered in Westport, US, Terex Corporation is a global manufacturer of lifting & material handling solutions for diverse industries, such as construction, shipping, mining, infrastructure, energy, transportation, refining & utilities. Terex Corporation operates through three segments: Cranes, Material Processing (MP), and Aerial Work Platforms (AWP).
Columbus McKinnon
Established in 1875 & based in Getzville, New York, Columbus McKinnon designs, manufactures, & markets cranes, rigging tools, hoists, digital power control systems, actuators, and other material handling equipment for industrial and commercial applications worldwide.
Industrial Lifting Equipment Market Dynamics
Upward Demand for Lifting Loads in Diverse Industries Driving Market Growth
Burgeoning demand for lifting loads in the expanding shipping industry coupled with the rising adoption of forklifts in the warehouse & logistics segment are driving the sales of industrial lifting equipment. As industrial lifting equipment makes loading and unloading of heavy metals products an easy task for shipping purposes, their demand is likely to grow further in the forthcoming years. Furthermore, mining industry considerably relies on hoists and cranes for several applications, which are also creating lucrative growth opportunities for industrial lifting equipment companies.
High Initial Costs & Slow Speed of Industrial Lifting Equipment Impeding Market Growth
High initial costs of industrial lifting equipment are increasingly making several companies reluctant towards the adoption of these machines. Moreover, the incapability of industrial lifting equipment to lift up wide range of weights are also restraining their adoption. Additionally, high failure rate and maintenance requirements are other factors impeding the growth in global industrial lifting equipment market.
Advanced Technology Takes Centre Stage as Industries Seek High-Performing Lifting Equipment
Shifting industrial preferences for fast operating, robust, and compact lifting equipment is driving the demand for customized and advanced machinery. Also, the demand for industrial lifting equipment that occupy less space for transit and installing applications is growing rapidly. Consequently, companies are focusing on developing low-cost, and compact industrial lifting equipment that can lift wide range of weights and can operate at a fast pace, in a bid to appeal a wider target audience.
Industrial Lifting Equipment Market – Segmentation
Based on type, the industrial lifting equipment market is segmented into:
- Lifts
- Fork lifts
- Hoists
- Stackers
- Pallet trucks
- Robotic arms
Based on mechanism involved, the industrial lifting equipment market is segmented into:
- Hydraulic
- Pneumatic
- Electrical
- Magnetic
- Scissor lifts
Based on nature of installation, the industrial lifting equipment market is segmented into:
- Overhead
- Fulcrum
- Vehicle mounted
Based on application area, the industrial lifting equipment market is segmented into:
- Manufacturing industry
- Process industry
- Shipping industry
- Dockyards
- Warehouses
- Others
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report