Global Industrial Lifting Equipment Market Size, Trends & Growth Opportunity By Type (Lifts, Pallet Trucks, Forklifts, Stackers, and Robotic Arms), By Mechanism (Magnetic, Electrical, Hydraulic, Pneumatic, and Scissor Lifts), By Nature of Installation (Ov

Global Industrial Lifting Equipment Market Size, Trends & Growth Opportunity By Type (Lifts, Pallet Trucks, Forklifts, Stackers, and Robotic Arms), By Mechanism (Magnetic, Electrical, Hydraulic, Pneumatic, and Scissor Lifts), By Nature of Installation (Overhead, Vehicle Mounted, and Fulcrum), By Application, By Region and Forecast till 2027.

Market Overview

Global Industrial Lifting Equipment Market was valued at USD 69.23 billion in 2021 and expected to reach USD 93.62 billion by 2027 at a CAGR 4.97 %from 2022 -2027.

Heavy machinery and equipment must be lifted or moved from one location to another using industrial lifting equipment. Cranes, hoists, forklifts, stackers, hook-pulleys, and other industrial lifting equipment fall into these categories. They have a variety of uses in factories, buildings, fabrication shops, dockyards, warehouses, and other places.

Market Drivers

The main factor driving the growth of the global industrial lifting equipment market is the rise in demand for lifting equipments as a result of increased warehousing and logistics industry usage. The expansion of industrialization activities will also increase demand for the product from the mining and construction sectors, which will benefit market expansion. Additionally, the shipping industry's growing need for lifting equipment is anticipated to fuel the expansion of the global market for industrial lifting equipment.

Market Restraints

The primary restraint on the growth of the global industrial lifting equipment market, however, is the high investment cost. Additionally, a shortage of skilled workers will hinder market expansion.

Market Segmentation

Global Industrial Lifting Equipment Market is segmented into type such as Lifts, Pallet Trucks, Forklifts, Stackers, and Robotic Arms, by mechanism such as Magnetic, Electrical, Hydraulic, Pneumatic, and Scissor Lifts, by nature of installation such as Overhead, Vehicle Mounted, and Fulcrum. Further, market is segmented into application such as Manufacturing industry, Shipping dockyards & warehouses, and Process Industry.

Also, Global Industrial Lifting Equipment Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. During the forecast period, the Asia Pacific region is anticipated to have the highest CAGR. This is primarily attributable to the fact that the global market for industrial lifting equipment has seen an increase in demand for lifting loads in the shipping sector, forklift sales in the warehouse and logistics sector, and crane and hoist sales in the mining sector.

Market Key Players

Various key players are discussed into this report such as Toyota Industries, Columbus Mckinnon, Manitowoc, Konecranes, Terex, Cargotec, Liebherr, Jungheinrich, Hyster-Yale Materials Handling, and Kion Group

Market Taxonomy

By Type

• Lifts
• Pallet Trucks
• Forklifts
• Stackers
• Robotic Arms

• Magnetic
• Electrical
• Hydraulic
• Pneumatic
• Scissor Lifts

• Overhead
• Vehicle Mounted
• Fulcrum

• Manufacturing industry,
• Shipping dockyards & warehouses
• Process Industry

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa