Industrial Lifting Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Industrial Lifting Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : August, 2019 | Semiconductor & Electronics | PPT format

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 study presents reliable qualitative and quantitative insights into:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand chain of the market
  • Market valuation (revenue and/or volume)
  • Key trends/opportunities/challenges
  • Forces defining present and estimated future state of the competitive landscape
  • Technological developments
  • Value chain and stakeholder analysis

The regional analysis covers:

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

The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.

Highlights of the report:

  • A detailed analysis of key segments of the market
  • Recent developments in the market’s competitive landscape
  • Detailed analysis of market segments up to second or third level of segmentation
  • Historical, current, and projected future valuation of the market in terms of revenue and/or volume
  • Key business strategies adopted by influential market vendors
  • Outline of the regulatory framework surrounding and governing numerous aspects of the market
  • Growth opportunities in emerging and established markets
  • Recommendations to market players to stay ahead of the competition

Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.

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