Market Research Report
Global Industrial Lifting Equipment Market with COVID-19 Impact Analysis, By Types, By Mechanisms, By Applications, and By Region - Size, Share, & Forecast from 2021-2027
|Global Industrial Lifting Equipment Market with COVID-19 Impact Analysis, By Types, By Mechanisms, By Applications, and By Region - Size, Share, & Forecast from 2021-2027|
Published: June 1, 2021
AnalystView Market Insights
Content info: 333 Pages
Delivery time: 2-3 business days
The global industrial lifting equipment market was valued at USD 68.4 billion in 2020 and is estimated to reach USD 90.1 billion by 2026, expanding at a CAGR of 4.9% during the forecast period, 2020 - 2027. Growing need for lifting cargoes in the shipping market, increasing competition for forklifts in the logistics and warehousing segment, and rising demand for lifting equipment in the mining industry are all contributing to the market development significantly.
Lifting and transferring large machinery and equipment from one location to another requires industrial lifting equipment. Stackers, hoists, forklifts, cranes, and hook-pulleys are among the several forms of heavy machinery used in numerous sectors. These lifting machines may be found in a variety of settings, including industrial plants, dockyards, construction sites, distribution centers, fabrication shops, and warehouses. The expansion of the higher angles equipment market is due to rising demand for different industrial lifting equipment such as hoists, forklifts, and cranes in various sectors.
The market for industrial lifting equipment is mostly determined by the degree of automation and industrial expansion. The businesses are heavily spending in order to expand their material and production inventories. Some of the main reasons that are predicted to elevate the global industrial lifting equipment market are the attempts to install its warehouses in various locations to spread reach all over. Increased international and domestic commerce, as well as thriving material transit industries, which involve industrial lifting equipment for unloading, stacking, and loading, are expected to enhance the worldwide industrial lifting equipment market over the forecast period.
During the projected period, the worldwide market is likely to be driven by the e-commerce market's expansion. The expansion of the logistics and warehousing industry has increased demand for lifting equipment, which is expected to propel the market forward. Some of the key factors expected to hinder the worldwide industrial lifting equipment market during the forecast period include bulky size, high cost, poor speed of operation, and limited weight lifting capabilities. Other key factors likely to restrict the global industrial lifting equipment market include expensive maintenance requirements and high failure rates. During the projection period, the government's increased investment in product development is projected to provide many possibilities for the leading market participants. During the forecast period, the worldwide market is expected to be driven by the trend of adopting sophisticated technologies.
Based on types, pallet trucks, lifts, hoists, forklifts, robotic arms, and stackers make up the worldwide industrial lifting equipment market. Because of the benefits forklifts provide, such as minimal noise and better energy efficiency, the forklifts sector is expected to account for the highest market share over the projection period. Forklifts have a low operating cost and are environmentally beneficial.
In terms of mechanisms, magnetic, electrical, hydraulic, scissor, and pneumatic lifts are the several types of industrial lifting equipment available. Hydraulic is projected to have the biggest market share throughout the projection period, owing to its widespread usage in warehouses, and shipyards for transporting and lifting heavy items. Hydraulics are also used in the industrial, construction, and transportation industries.
On the basis of applications, Construction, shipping dockyards and warehouses, manufacturing sector, and process sector are the segments of the global industrial lifting market globally. Because of fast infrastructure development and growing building activity throughout the globe, the construction segment is projected to lead the market over the forecast period.
Based on the regions, North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa make up the worldwide industrial lifting equipment market. During the projection period, Asia Pacific is expected to have the highest market share. The government's significant investment in building operations in the area is credited with driving the expansion of the Asia Pacific market.
Major players in the market include KION Group, Toyota Industries, Linamar, Konecranes, Oshkosh, Liebherr, Tadano, ZPMC, KITO, and XCMG. To grow their companies and improve their product offerings, the leading market players are pursuing tactics such as acquisitions, partnerships, and new launches and innovations.
Key features of the study:
This proposed research study on Global Industrial Lifting Equipment market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Global Industrial Lifting Equipment Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Global Industrial Lifting Equipment Market Impact of COVID-19 on Global Industrial Lifting Equipment Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Global Industrial Lifting Equipment Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Global Industrial Lifting Equipment Market, we have also included competitive landscape and key innovator analysis for the Global Industrial Lifting Equipment Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Global Industrial Lifting Equipment Market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Global Industrial Lifting Equipment Market on global as well as regional level.
The global Global Industrial Lifting Equipment Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL INDUSTRIAL LIFTING EQUIPMENT MARKET KEY PLAYERS
Hyster-Yale Material Handling,
Ingersoll Rand, Manitowoc
GLOBAL INDUSTRIAL LIFTING EQUIPMENT MARKET, BY TYPES
GLOBAL INDUSTRIAL LIFTING EQUIPMENT MARKET, BY MECHANISMS
GLOBAL INDUSTRIAL LIFTING EQUIPMENT MARKET, BY APPLICATIONS
Shipping dockyards and warehouses
GLOBAL INDUSTRIAL LIFTING EQUIPMENT MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
TABLE Asia Pacific Global Industrial Lifting Equipment market, by Applications, 2016-2027 (USD Million)
TABLE Latin America Global Industrial Lifting Equipment market, by Applications, 2016-2027 (USD Million)
List of Figures