Industrial Lifting Equipment Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Industrial Lifting Equipment market, covering market size, growth trends, segmentation, regional insights, and key industry players. Forecasting from 2023 to 2033, it delivers valuable insights for stakeholders and decision-makers.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $8.50 Billion |
| CAGR (2023-2033) | 6.8% |
| 2033 Market Size | $16.71 Billion |
| Top Companies | Konecranes, Caterpillar Inc., Terex Corporation, Mitsubishi Caterpillar Forklift America |
| Last Modified Date | 15 Nov 2024 |
Industrial Lifting Equipment Market Report (2023 - 2033)
Industrial Lifting Equipment Market Overview
What is the Market Size & CAGR of Industrial Lifting Equipment market in 2023?
Industrial Lifting Equipment Industry Analysis
Industrial Lifting Equipment Market Segmentation and Scope
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Industrial Lifting Equipment Market Analysis Report by Region
Europe Industrial Lifting Equipment Market Report:
The European market is anticipated to grow from $2.24 billion in 2023 to $4.40 billion by 2033. With a strong emphasis on environmental regulations and safety standards, the European region is witnessing a shift towards electric and hybrid lifting equipment, which continues to favor market growth.Asia Pacific Industrial Lifting Equipment Market Report:
The Asia Pacific region is set to witness significant growth, with market value projected to increase from $1.64 billion in 2023 to $3.21 billion by 2033. This growth is driven by rapid industrialization in countries like China and India, where infrastructure projects are expanding. Additionally, the manufacturing sector's rebound post-pandemic is expected to boost the demand for industrial lifting equipment significantly.North America Industrial Lifting Equipment Market Report:
North America, valued at $2.89 billion in 2023, is projected to reach $5.68 billion by 2033. The growth is attributed to technological advancements and the increasing adoption of automation in key industries such as construction and manufacturing. The US remains a major market for innovative lifting solutions.South America Industrial Lifting Equipment Market Report:
In South America, the market is expected to grow from $0.68 billion in 2023 to $1.34 billion by 2033, fueled by infrastructure investments and a growing focus on improving logistics and manufacturing capabilities. Brazil and Argentina are leading this growth with initiatives aimed at enhancing their industrial sectors.Middle East & Africa Industrial Lifting Equipment Market Report:
In the Middle East and Africa, the market is expected to grow from $1.06 billion in 2023 to $2.08 billion by 2033. With increasing construction and oil & gas sector activities, the demand for industrial lifting equipment is escalating as countries strive to enhance their infrastructure and industrial capacities.Request a custom research report for industry.
Industrial Lifting Equipment Market Analysis By Type
Global Industrial Lifting Equipment Market, By Type Market Analysis (2023 - 2033)
The Industrial Lifting Equipment market by type includes overhead cranes, forklifts, and hoists. Overhead cranes lead the market, valued at $5.53 billion in 2023 with a significant share of 65.01%. Forklifts are also vital, expected to grow from $2.40 billion to $4.72 billion, retaining a steady share of 28.23%. Hoists represent a smaller segment with a market size of $0.57 billion projected to rise to $1.13 billion.
Industrial Lifting Equipment Market Analysis By Application
Global Industrial Lifting Equipment Market, By Application Market Analysis (2023 - 2033)
The application segment includes construction and infrastructure, manufacturing and warehousing, retail and distribution, and energy and utilities. Construction is the leading segment, valued at $4.47 billion, and anticipated to grow to $8.79 billion, holding a 52.6% share. Manufacturing and warehousing follow closely, with expected growth from $2.07 billion to $4.07 billion.
Industrial Lifting Equipment Market Analysis By Technology
Global Industrial Lifting Equipment Market, By Technology Market Analysis (2023 - 2033)
Technological advancements are critical for the Industrial Lifting Equipment market. Conventional equipment maintains a dominant position, with a market size of $5.53 billion in 2023. However, smart technologies and automated solutions are gaining traction, with smart equipment projected to grow from $2.40 billion to $4.72 billion, enhancing the efficiency and safety of operations.
Industrial Lifting Equipment Market Analysis By End User
Global Industrial Lifting Equipment Market, By End-User Market Analysis (2023 - 2033)
Key end-user industries include construction, manufacturing, transportation, and utilities. The construction industry dominates with a share of 42.81%, driving significant requests for broadband lifting solutions. Manufacturing and utilities also show steady demand, highlighting the critical role of lifting equipment across various sectors.
Industrial Lifting Equipment Market Analysis By Platform
Global Industrial Lifting Equipment Market, By Platform Market Analysis (2023 - 2033)
The market platform includes stationary and mobile equipment. Stationary equipment, valued at $7.19 billion in 2023, remains predominant, with significant growth projected. Mobile equipment, although smaller in size at $1.31 billion, is growing in importance as industries seek flexibility in operations.
Industrial Lifting Equipment Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Industrial Lifting Equipment Industry
Konecranes:
A leader in lifting equipment and services, Konecranes specializes in overhead cranes, platform lifts, and innovative lifting solutions aimed at increasing productivity and safety in industrial operations.Caterpillar Inc.:
Known for its construction machinery, Caterpillar also provides a range of lifting equipment, including forklifts and telehandlers, focusing on sustainability and efficiency in modern industrial applications.Terex Corporation:
Terex offers a broad portfolio of lifting and material handling products, known for their durability and innovative technology, particularly in the construction and mining sectors.Mitsubishi Caterpillar Forklift America:
A leading supplier of forklifts, Mitsubishi Caterpillar specializes in providing high-quality material handling equipment with a commitment to customer service and innovation.We're grateful to work with incredible clients.
