"Global Executive Summary Industrial Lifting Equipment Market: Size, Share, and Forecast

Global industrial lifting equipment market size was valued at USD 85.21 billion in 2024 and is projected to reach USD 123.99 billion by 2032, with a CAGR of 4.80% during the forecast period of 2025 to 2032.

The Industrial Lifting Equipment Market analysis report focuses on leading global industry players, providing information such as company profiles, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. Geographically, this report is categorized into various main regions, including sales, proceeds, market share and expansion rate (percent) in the following areas: North America, Asia-Pacific, South America, Europe, Asia-Pacific, The Middle East and Africa. What is more, the feasibility of new investment projects is assessed and overall research conclusions are offered. Analysis of profiles of manufacturers or commanding players of the global market is performed based on sales area, key products, gross margin, revenue, price, and production.

Industrial Lifting Equipment Market Analysis report analyzes the changing trends in the industry. The industry development trends and marketing channels are also analyzed. In this market document, development policies and plans are discussed, and manufacturing processes and cost structures are also analyzed. The report offers a detailed analysis of Industrial Lifting Equipment Market industry with growth & significant CAGR during the forecast period  by top manufacturer’s analysis, region, types, and market segment by applications. The market research study of this report is conducted to understand the current landscape of the global market.

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Industrial Lifting Equipment Industry Overview

Segments

- By Product Type: The industrial lifting equipment market can be segmented based on product type into cranes, forklifts, hoists, aerial work platforms, and reach stackers. Cranes are further categorized into mobile cranes, tower cranes, and crawler cranes, while forklifts can be classified as electric forklifts, diesel forklifts, and others. Hoists include wire rope hoists, chain hoists, and electric hoists. Aerial work platforms consist of scissor lifts, boom lifts, and vertical mast lifts.

- By End-Use Industry: The market can also be segmented by end-use industry, including construction, mining, oil & gas, automotive, manufacturing, shipping & logistics, and others. Each industry segment has specific requirements for industrial lifting equipment based on operational needs, safety regulations, and efficiency considerations.

- By Region: Geographically, the global industrial lifting equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Each region has its own market dynamics, growth opportunities, and challenges in the industrial lifting equipment sector.

Market Players

- Konecranes: A key player in the global industrial lifting equipment market, Konecranes offers a wide range of lifting solutions including cranes, hoists, and lift trucks. The company focuses on innovation, safety, and sustainability in its products and services to cater to diverse industrial needs.

- Terex Corporation: With a strong presence in the market, Terex Corporation provides industrial lifting equipment such as cranes, aerial work platforms, and material handlers. The company emphasizes reliability, performance, and customer satisfaction in delivering high-quality lifting solutions.

- Cargotec Corporation: Known for its Kalmar and Hiab brands, Cargotec Corporation is a leading player in the industrial lifting equipment market, offering a comprehensive portfolio of forklifts, reach stackers, and container handling solutions. The company leverages technology and expertise to optimize material handling operations for various industries.

- Liebherr Group: Specializing in construction machinery and equipment, Liebherr Group also manufactures industrial lifting equipment including mobile and crawler cranes. The company's commitment to quality, innovation, and customer service has established it as a prominent player in the global market.

- Manitowoc Cranes: As a leading provider of cranes and lifting solutions, Manitowoc Cranes offers a diverse range of products for construction, oil & gas, and other industries. The company's focus on advanced technology, efficiency, and safety features sets it apart in the competitive industrial lifting equipment sector.

The global industrial lifting equipment market is poised for significant growth in the coming years due to the increasing demand across various end-use industries such as construction, mining, oil & gas, automotive, manufacturing, and shipping & logistics. The adoption of advanced lifting solutions to enhance operational efficiency, ensure workplace safety, and streamline material handling processes is driving the market expansion. Companies are focusing on developing innovative products that offer higher load capacity, improved performance, and energy efficiency to meet the evolving needs of industries.

One notable trend shaping the industrial lifting equipment market is the integration of automation and digital technologies, such as IoT (Internet of Things) and AI (Artificial Intelligence), into lifting equipment to enable real-time monitoring, predictive maintenance, and remote operation capabilities. This trend is revolutionizing how industrial lifting equipment is utilized, allowing for better asset management, reduced downtime, and enhanced productivity. Manufacturers are investing in smart solutions that offer data insights and analytics to optimize equipment utilization and overall operational performance.

Another key factor influencing the market landscape is the emphasis on sustainability and environmental responsibility. Companies operating in the industrial lifting equipment sector are increasingly focusing on developing eco-friendly solutions that reduce carbon emissions, energy consumption, and environmental impact. The integration of electric and hybrid technologies in lifting equipment, alongside the use of lightweight materials and efficient power systems, is enhancing the sustainability profile of industrial lifting solutions.

In terms of market competition, key players such as Konecranes, Terex Corporation, Cargotec Corporation, Liebherr Group, and Manitowoc Cranes are leading the industry with their diverse product portfolios, technological innovation, and customer-centric approach. These companies are actively involved in research and development activities to introduce cutting-edge products that address the specific needs of different end-user industries. Strategic partnerships, mergers, and acquisitions are also common strategies employed by market players to expand their market presence and enhance their product offerings.

Looking ahead, the industrial lifting equipment market is anticipated to witness substantial growth opportunities driven by infrastructure development projects, urbanization trends, and the expansion of industrial facilities globally. Emerging markets in Asia Pacific and Latin America are expected to play a significant role in market growth, thanks to increased investments in construction, manufacturing, and logistics sectors. Overall, the industrial lifting equipment market is poised for dynamic evolution, driven by technological advancements, sustainability trends, and growing end-user industry requirements.The global industrial lifting equipment market is experiencing a shift towards more technologically advanced and sustainable solutions to meet the evolving needs of various end-use industries. The integration of automation, IoT, and AI into lifting equipment is transforming traditional operations by enabling real-time monitoring, predictive maintenance, and remote control capabilities. This trend is enhancing operational efficiency, reducing downtime, and improving overall productivity in industries such as construction, mining, and manufacturing. Manufacturers are focusing on developing smart solutions that provide valuable data insights and analytics to optimize equipment utilization and enhance performance.

Sustainability is becoming a crucial aspect driving innovation in the industrial lifting equipment market. Companies are increasingly adopting eco-friendly practices by incorporating electric and hybrid technologies, lightweight materials, and energy-efficient systems in their lifting solutions. This strategic shift towards sustainability aims to reduce carbon emissions, energy consumption, and environmental footprint while meeting the stringent regulatory requirements. The emphasis on environmental responsibility is influencing product development strategies and pushing companies to create more sustainable lifting equipment options to align with the global sustainability goals.

Competition in the industrial lifting equipment market is intensifying among key players such as Konecranes, Terex Corporation, Cargotec Corporation, Liebherr Group, and Manitowoc Cranes. These industry leaders are focusing on technological innovation, diversification of product portfolios, and customer-centric approaches to maintain their competitive edge. Research and development activities play a vital role in introducing cutting-edge solutions that cater to the specific needs of different industries. Strategic collaborations, acquisitions, and mergers are common tactics employed by market players to expand their market share, enhance product offerings, and strengthen their presence in the global market landscape.

Looking ahead, the industrial lifting equipment market is poised for substantial growth driven by infrastructure development projects, rapid urbanization, and the expansion of industrial facilities worldwide. Emerging markets in Asia Pacific and Latin America present significant growth opportunities due to increased investments in construction, manufacturing, and logistics sectors. The market is set for dynamic evolution with a focus on technology-driven advancements, sustainability initiatives, and the increasing requirements of end-user industries. Overall, the industrial lifting equipment sector is expected to witness transformative changes as manufacturers adapt to the changing market demands and emerging trends to meet the needs of a rapidly evolving industrial landscape.

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Alternative Research Questions for Global Industrial Lifting Equipment Market Analysis

• What is the current valuation of the global Industrial Lifting Equipment Market?
• What CAGR is projected for the Industrial Lifting Equipment Market over the forecast period?
• What are the key segments analyzed in the Industrial Lifting Equipment Market report?
• Which companies dominate the Industrial Lifting Equipment Market landscape?
• What geographic data is covered in the Industrial Lifting Equipment Market analysis?
• Who are the leading firms operating in the Industrial Lifting Equipment Market?

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