PUBLISHER: The Business Research Company | PRODUCT CODE: 1932726
PUBLISHER: The Business Research Company | PRODUCT CODE: 1932726
Lifting equipment refers to a diverse array of machinery, tools, and devices crafted to raise, lower, and transport loads. This category encompasses a broad spectrum of tools and machines tailored to handle varying weights and sizes of objects, ensuring safe and efficient movement across different environments.
The primary types of lifting equipment include trucks, lifts, cranes, hoists, jacks, aerial work lift platforms, and other specialized types. Trucks in the lifting equipment market denote vehicles designed for the transportation of goods and materials, often equipped with hydraulic systems for lifting and unloading cargo. These tools employ a range of mechanisms such as mechanical, hydraulic, pneumatic, electric, and magnetic, serving diverse applications including construction, government, power, industrial, telecommunication, and others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are impacting the lifting equipment market by increasing the cost of imported steel structures, hydraulic systems, electric motors, control units, and load-handling components. Construction and industrial users in North America and Europe are particularly affected due to reliance on imported cranes, hoists, and lifts, while Asia-Pacific exporters face competitive pricing challenges. These tariffs are raising capital equipment costs and delaying infrastructure projects. However, they are also encouraging domestic manufacturing, regional sourcing of components, and innovation in energy-efficient and electric lifting equipment.
The lifting equipment market research report is one of a series of new reports from The Business Research Company that provides lifting equipment market statistics, including lifting equipment industry global market size, regional shares, competitors with a lifting equipment market share, detailed lifting equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the lifting equipment industry. This lifting equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The lifting equipment market size has grown strongly in recent years. It will grow from $88.33 billion in 2025 to $93.08 billion in 2026 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to infrastructure development, growth in construction activities, industrial expansion, demand for material handling solutions, urbanization trends.
The lifting equipment market size is expected to see steady growth in the next few years. It will grow to $112.75 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to investments in smart construction, adoption of automated lifting systems, growth of renewable energy projects, demand for efficient load handling, digital fleet management. Major trends in the forecast period include integration of smart lifting equipment, growth of electric lifting systems, demand for heavy-duty construction equipment, expansion of rental equipment services, focus on workplace safety.
The rise in construction activities is expected to drive the growth of the lifting equipment market going forward. Construction activities encompass a wide range of tasks involved in planning, designing, building, renovating, and maintaining structures and infrastructure. These activities span multiple stages and disciplines within the construction industry, each contributing to project completion. Growth in construction is fueled by the demand for new buildings and infrastructure, increasing urbanization, and advancements in construction methods and materials. Lifting equipment is employed in construction to safely move heavy materials, accelerate project timelines, and enhance worker efficiency and safety. For example, in November 2024, the Office for National Statistics, a US-based government agency, reported that the value of new construction work in Great Britain in 2023 rose by 4.2% to a record £139,029 million, driven by increases of £2,050 million in the private sector and £3,578 million in the public sector. Thus, the growth in construction activities is propelling the lifting equipment market.
Major companies in the lifting equipment market are focusing on innovative technologies, such as elevator technology, to maintain and strengthen their market positions. Elevator technology refers to advancements in elevator systems that enhance efficiency, safety, comfort, and sustainability, addressing the demands of modern buildings, particularly high-rises, while improving user experience. For instance, in November 2023, LiftTech, an Australia-based elevator parts manufacturer, partnered with Robustel ANZ, an Australian industrial IoT modem manufacturer, to launch an all-in-one elevator technology platform. This platform integrates real-time communication tools for users and maintenance staff, IoT connectivity for predictive maintenance and efficient data exchange, digital signage for announcements and advertisements, and CCTV with a video management system for enhanced security. The solution aims to improve safety, streamline elevator operations, and optimize maintenance processes.
In December 2023, Veslatec Oy, a Finland-based provider of machinery and equipment across various industries, acquired Nordlift Oy to expand its product portfolio, enhance market share, reinforce its presence in the lifting equipment segment, and potentially access new customer segments or geographical markets. Nordlift Oy is a Finland-based manufacturer of lifting equipment.
Major companies operating in the lifting equipment market are Komatsu Ltd., Toyota Industries Corporation, Anhui Heli Co. Ltd., Liebherr International AG, XCMG Group, Kion Group AG, Zoomlion Heavy Industry Science and Technology Co Ltd, Ingersoll Rand Inc., Mitsubishi Logisnext Co. Ltd., Jungheinrich AG, Terex Corporation, Cargotec Corporation, Daifuku Co. Ltd., Hyster-Yale Materials Handling Inc., Konecranes plc, Mammoet Holding BV, Palfinger AG, Columbus McKinnon Corporation, Haulotte Group, Kito Corporation
North America was the largest region in the lifting equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lifting equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the lifting equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The lifting equipment market consists of sales of forklifts, elevators, winches, scissor lifts, hydraulic lifts, aerial work platforms, and material handling equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Lifting Equipment Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses lifting equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for lifting equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The lifting equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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