PUBLISHER: Grand View Research | PRODUCT CODE: 1908634
PUBLISHER: Grand View Research | PRODUCT CODE: 1908634
The global lifting equipment market size was estimated at USD 82.5 million in 2024 and is projected to reach USD 138.6 million by 2033, growing at a CAGR of 6.0% from 2025 to 2033. Rapid urbanization and increasing infrastructure development are significantly driving the growth of the lifting equipment industry.
Expansion in construction, mining, oil & gas, and manufacturing sectors is creating strong demand for efficient material handling solutions. Cranes, hoists, and forklifts play a critical role in handling heavy loads across complex project sites.
The growing focus on workplace safety and operational efficiency is further fueling market expansion. Strict safety regulations are encouraging industries to shift from manual handling to mechanized lifting systems. Modern equipment reduces workplace injuries while improving precision and load control. This emphasis on safer and more productive operations is boosting overall demand for lifting equipment.
Global Lifting Equipment Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global lifting equipment market report based on type,mechanism, end use, and region.