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Lifting Equipment Market Value Growth And Long-Term Outlook
The lifting equipment market has experienced robust growth in recent years. It is anticipated to expand from $88.33 billion in 2025 to $93.08 billion in 2026, achieving a compound annual growth rate (CAGR) of 5.4%. Historically, this growth has been driven by factors such as infrastructure development, an increase in construction activities, industrial expansion, the rising demand for material handling solutions, and prevailing urbanization trends.
The lifting equipment market size is projected to experience consistent expansion over the coming years. This market is anticipated to reach $112.75 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.9%. Key factors driving this growth during the forecast period include increased investments in smart construction, the widespread adoption of automated lifting systems, the expansion of renewable energy initiatives, a rising demand for efficient load handling solutions, and advancements in digital fleet management. Significant trends expected within the forecast timeframe encompass the integration of intelligent lifting equipment, the proliferation of electric lifting systems, a strong demand for heavy-duty construction machinery, the broadening of rental equipment services, and an increased emphasis on workplace safety.
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Lifting Equipment Market Growth Factors: What’s Supporting Expansion?
The expanding scope of construction endeavors is anticipated to drive the advancement of the lifting equipment market moving forward. Construction activities encompass a broad spectrum of operations, including the planning, design, construction, renovation, and upkeep of structures and infrastructure. These operations involve multiple stages and specialized fields within the construction sector, all contributing to the successful completion of projects. The growth in construction activities stems from the growing need for new edifices and infrastructure, accelerating urbanization, and advancements in building techniques and materials. Lifting equipment finds application in construction to safely transport substantial materials and components, expedite project schedules, and enhance both worker efficiency and safety. As an illustration, in November 2024, the Office for National Statistics, a US-based government agency, reported that the value of construction new work in current prices in Great Britain in 2023 saw an increase of 4.2% to a record high of £139,029 million; this was attributed to growth in both private sector work of £2,050 million and in the public sector of £3,578 million. Consequently, the increasing volume of construction activities is poised to fuel the lifting equipment market.
Lifting Equipment Market Segment Trends And Revenue Contributors
The lifting equipment market covered in this report is segmented –
1) By Type: Trucks, Lifts, Cranes, Hoists, Jacks, Aerial Work Lift Platforms, Other Types
2) By Mechanism: Mechanical, Hydraulic, Pneumatic, Electric, Magnetic
3) By Application: Construction, Government, Power, Industrial, Telecommunication
Subsegments:
1) By Trucks: Flatbed Trucks, Hydraulic Lifting Trucks, Crane Trucks
2) By Lifts: Scissor Lifts, Personnel Lifts, Platform Lifts
3) By Cranes: Mobile Cranes, Tower Cranes, Overhead Cranes, Crawler Cranes
4) By Hoists: Electric Hoists, Manual Hoists, Pneumatic Hoists
5) By Jacks: Hydraulic Jacks, Mechanical Jacks, Bottle Jacks
6) By Aerial Work Lift Platforms: Boom Lifts, Scissor Lifts, Vertical Mast Lifts
7) By Other Types: Conveyors, Winches, Forklifts
Lifting Equipment Market Industry Trends: What’s Reshaping Demand?
Major companies operating in the lifting equipment market are focusing on the development of innovative technologies, such as elevator technology, to sustain their presence in the market. Elevator technology pertains to advancements and improvements within elevator systems that enhance their efficiency, safety, comfort, and sustainability. These technologies are designed to address the increasing demands of modern buildings, especially high-rise structures, and to improve the overall user experience. For instance, in November 2023, LiftTech, an Australia-based elevator parts manufacturer, partnered with Robustel ANZ, an Australia-based company that manufactures industrial-quality wireless IoT modems, to launch an all-in-one elevator technology platform. This comprehensive elevator platform includes real-time communication tools for users and maintenance staff, IoT connectivity for efficient data exchange and predictive maintenance, and digital signage for displaying announcements and advertisements. It also integrates closed-circuit television (CCTV) for enhanced security and a video management system to store and manage surveillance footage. By combining these technologies, this platform promises to increase safety, speed up elevator operations, and maximize maintenance.
Lifting Equipment Market Competitive Landscape: Which Companies Lead The Industry?
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
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Lifting Equipment Market Geographic Spread And Regional Opportunities
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
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
