Data Bridge Market Research analyses that the Global Industrial Lifting Equipment Market which was USD 74.03 Million in 2021 is expected to reach USD 107.72 Billion by 2029 and is expected to undergo a CAGR of 4.80% during the forecast period of 2021 to 2029
Industrial Lifting Equipment Market research report provides a comprehensive analysis of the market. The report aims to provide insights into Industrial Lifting Equipment Market trends, growth opportunities, key drivers and challenges, competitive landscape, and other crucial factors that may impact the market in the forecast period (2024-2031).
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Which are the top companies operating in the Industrial Lifting Equipment Market?
The study report on the Global Industrial Lifting Equipment Market offers a comprehensive analysis of the industry, highlighting key trends, market dynamics, and competitive landscape. It profiles prominent organizations operating in the market, examining their successful strategies and market share contributions. This Industrial Lifting Equipment Market report provides the information of the Top 10 Companies in Industrial Lifting Equipment Market in the market their business strategy, financial situation etc.
**Segments**
- By Product Type: The global industrial lifting equipment market can be segmented based on product type into cranes, hoists, forklifts, conveyors, and others. Cranes segment is expected to dominate the market due to their widespread usage in various industries for lifting heavy loads efficiently and safely.
- By Lifting Capacity: Another important segmentation is based on lifting capacity, which includes light duty, medium duty, and heavy duty lifting equipment. The heavy-duty lifting equipment segment is projected to witness substantial growth owing to increasing demand for lifting extremely heavy loads in industries such as construction, manufacturing, and logistics.
- By End-User Industry: The industrial lifting equipment market can also be segmented based on end-user industries such as construction, automotive, manufacturing, oil & gas, aerospace, and others. The construction sector is anticipated to hold a significant market share due to the rising infrastructure development activities globally.
**Market Players**
- Konecranes: Konecranes is a leading player in the global industrial lifting equipment market, offering a wide range of cranes and hoists for various industries. The company focuses on technological advancements and product innovations to cater to diverse customer requirements.
- Terex Corporation: Terex Corporation is another key player known for its comprehensive portfolio of lifting equipment solutions, including cranes, aerial work platforms, and material handlers. The company has a strong global presence and strategic partnerships to enhance its market reach.
- Columbus McKinnon Corporation: Columbus McKinnon Corporation specializes in material handling products, including hoists and lifting equipment, aimed at improving operational efficiency and safety in industrial settings. The company emphasizes on quality assurance and customer satisfaction to maintain its market position.
- Toyota Industries Corporation: Toyota Industries Corporation is a prominent player in the industrial lifting equipment market, offering forklifts and material handling solutions for various industries. The company's focus on sustainability and advanced technologies has enabled it to stay competitive in the market.
For a more comprehensive analysis of the Global IndustrialThe global industrial lifting equipment market is experiencing steady growth driven by increasing industrialization and the need for efficient material handling solutions across various sectors. One of the key trends shaping the market is the integration of advanced technologies such as Internet of Things (IoT) and automation to enhance the performance and safety of lifting equipment. Companies are investing in research and development activities to introduce innovative products with features like predictive maintenance, remote monitoring, and digital connectivity, which are gaining traction among end-users looking to optimize their operations.
In terms of market segmentation, the product type segment plays a crucial role in determining the market dynamics. Cranes, being versatile equipment used across multiple industries for heavy lifting operations, are expected to maintain their dominance in the market. The demand for specialized cranes such as overhead cranes, gantry cranes, and tower cranes is increasing in sectors like construction, manufacturing, and logistics to handle a diverse range of loads efficiently. Likewise, hoists are witnessing significant adoption due to their ability to provide vertical lifting solutions in confined spaces, contributing to the overall growth of the market.
Another key segmentation based on lifting capacity reflects the diverse requirements of end-users across different industries. The heavy-duty lifting equipment segment is poised for substantial growth as industries like construction and manufacturing deal with increasingly heavier loads that require robust lifting solutions. Additionally, advancements in materials and engineering have led to the development of high-capacity cranes and forklifts capable of handling massive weights with precision and safety measures, thereby fueling market expansion in this segment.
When considering end-user industries, construction emerges as a pivotal sector driving the demand for industrial lifting equipment. The construction industry's rapid growth worldwide, coupled with ongoing infrastructure development projects, is creating a substantial market opportunity for lifting equipment providers. The automotive and manufacturing sectors also contribute significantly to market growth, with a rising emphasis on streamlining production processes and ensuring workplace safety through the use of advanced lifting solutions.
Key market players such as Konecranes, Terex Corporation, Columbus McK**Market Players**
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 (copyright), 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).
The global industrial lifting equipment market is witnessing substantial growth due to increasing industrialization and the rising demand for efficient material handling solutions across various sectors. One significant trend impacting the market is the integration of advanced technologies such as Internet of Things (IoT) and automation to enhance the performance and safety of lifting equipment. Companies are investing in research and development to introduce innovative products with features like predictive maintenance, remote monitoring, and digital connectivity, which are gaining traction among end-users seeking operational optimization.
Within the market segmentation, the product type segment
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Regional Analysis For Industrial Lifting Equipment Market
North America (the United States, copyright, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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This report provides Global Industrial Lifting Equipment Market :
- An in-depth overview of the global market for
- Industrial Lifting Equipment Market Assessment of the global industry trends, historical data from 2015, projections for the coming years, and anticipation of compound annual growth rates (CAGRs) by the end of the forecast period.
- Discoveries of new market prospects and targeted marketing methodologies for Global Industrial Lifting Equipment Market
- Discussion of R&D, and the demand for new products launches and applications.
- Wide-ranging company profiles of leading participants in the industry.
- The composition of the market, in terms of dynamic molecule types and targets, underlining the major industry resources and players.
- The growth in patient epidemiology and market revenue for the market globally and across the key players and Industrial Lifting Equipment Market segments.
- Study the market in terms of generic and premium product revenue.
- Determine commercial opportunities in the market sales scenario by analyzing trends in authorizing and co-development deals.
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