At 4.51 % CAGR Industrial Lifting Equipment Market potentially worth USD 79.73 billion by 2023

Study papers on Industrial Lifting Equipment market and regional forecast. Industrial Lifting Equipment market players are Liebherr (Switzerland), Toyota Industries (Japan), KION Group (Germany), Terex (US), Columbus McKinnon (US), Linamar (Canada), and Oshkosh (US), KITO (Japan), Cargotec (Finland), Konecranes (Finland), Manitowoc (US), Hyster-Yale Materials Handling (US), Tadano (Japan), Ingersoll Rand (Ireland), Mammoet (Netherlands), ZPMC (China), XCMG (China), and Zoomlion (China).

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Industrial lifting equipment market is estimated to grow from USD 63.96 billion in 2018 to reach USD 79.73 billion by 2023, at a CAGR of 4.51% between 2018 and 2023. The key driving factors for the growth of the industrial lifting equipment market are increasing demand for lifting loads in the shipping industry, growing demand for forklifts in warehouse and logistics segment, and the rising demand for cranes and hoists in the mining industry. However, the high initial cost associated with industrial lifting equipment hinders the market growth.

Target Audience

• Distributors of cranes, hoists, forklifts and aerial work platforms
• Government bodies, venture capitalists, and private equity firms
• Designers and manufacturers of cranes and hoist
• Manufacturers of the forklift components
• Fleet operators
• Forklift associations and insurance companies
• Forklift distributors and traders
• Manufacturers of forklifts
• Aerial work platform manufacturers
• Rental companies
• Process industries and power industry associations
• Research organizations, associations and consulting companies
• System integrators
• Technology consultants
• Value-added resellers

Europe is projected to grow at the highest CAGR between 2018 and 2023 in the industrial lifting equipment market for hoists. The demand from the automotive industry drives the hoists market in France. Given the product competitiveness in the market, automotive manufacturers, component providers, and suppliers seek to gain a competitive edge by offering quality products.

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Electric forklifts are powered by batteries or fuel cells. Electric forklifts are mostly used in indoor environments as they offer improved energy efficiency and low noise level. Electric forklifts are mostly used in indoor environments as they offer improved energy efficiency and low noise level. Electric forklifts are gaining acceptance, as they are environment-friendly and produce low noise during operation; they do not emit harmful gases. Moreover, electric forklifts have low operation and maintenance costs, and are easier to operate than internal combustion engine forklifts.

Competitive Landscape

1 Overview
2 Ranking Analysis of Forklift Manufacturers
3 Ranking Analysis of Aerial Work Platform Manufacturers
4 Ranking Analysis of Cranes Manufacturers
5 Ranking Analysis of Hoists Manufacturers
6 Competitive Scenario
6.1 Product Launches
6.2 Mergers & Acquisitions
6.3 Business Expansions
6.4 Partnerships/Contracts/Joint Ventures/Agreements/ Orders

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The research report on the global industrial lifting equipment market covers the market for forklift, aerial work platform, crane, and hoist.

The market for forklifts has been segmented on the basis of class, operation and application. Based on class, the market has been further classified into class 1, class 2, class 3, and Class 4 & 5. The forklift market on the basis of operation has been segmented into diesel, gasoline & LPG/CNG, and electric. On the basis of application, the market for forklifts has been segmented into manufacturing, wholesale & retail distribution, freight & logistics, and other applications that include construction and waste handling.

The market for aerial work platforms has been segmented on the basis of type and application. On the basis of type, the market has been further segmented into boom lifts, scissor lifts, vertical mast lifts, and others that include personal portable lift and low-level access platforms. The market for scissor lifts has been further classified into telescopic and articulated boom lifts. On the basis of application, the market has been segmented into construction & maintenance, industrial, telecommunication & utility, and others that include agriculture, fire & emergency, and media & entertainments applications.

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