Industrial Lifting Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
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
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.
Founded in 1926 & headquartered in Kariya, Japan, Toyota Industries Corporation manufactures & sells material handling equipment, textile machinery, and automobiles in Japan and beyond.
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.
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).
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:
Based on mechanism involved, the industrial lifting equipment market is segmented into:
Based on nature of installation, the industrial lifting equipment market is segmented into:
Based on application area, the industrial lifting equipment market is segmented into:
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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