Global Industrial Lifting Equipment Market was valued at USD 68.23 billion in 2019 and expected to reach USD 92.62 billion by 2027 at a CAGR 4.5%.
Industrial lifting equipment’s are used for lifting r moving heavy machineries or equipment’s from one place to another place. Hoists, forklifts, stackers, hook-pulleys, and cranes are the types of industrial lifting equipment’s. They have various applications in various manufacturing units construction sites, fabrication workshops, dockyards, warehouses, and others.
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Increase in usage of warehousing & logistics industry has resulted in rise in demand for lifting equipment’s is the key driving factor which is expected to boost the global industrial lifting equipment market growth. Furthermore, rise in demand for the product from mining and construction industries due to the rise in levels of industrialization activities will have the positive impact on market growth. Moreover, increase in demand for lifting loads in shipping industry which is expected to drive the global industrial lifting equipment market growth.
However, high investment cost is the major restraining factor which is expected to hinder the global industrial lifting equipment market growth. Also, lack of skilled operators will affect the market growth.
The assessment and forecast of the Industrial Lifting Equipment Market have been studied on a global and regional basis. Based on the region, the Industrial Lifting Equipment Market has been studied in the Asia Pacific (APAC), Europe, North America, Latin America (LATAM), and the Middle East and Africa (MEA).
Market Key Players
Various key players are discussed into this report such as
- Toyota Industries,
- Columbus Mckinnon,
- Hyster-Yale Materials Handling,
- Kion Group
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- Pallet Trucks
- Robotic Arms
- Scissor Lifts
By Nature of Installation
- Vehicle Mounted
- Manufacturing industry,
- Shipping dockyards & warehouses
- Process Industry
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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