Enhanced with market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights, The Business Research Company’s 2026 market reports deliver more actionable and strategically valuable research.
Lifting Equipment Market Growth Analysis: How Will Revenue Expand During The Forecast Period?
The lifting equipment market has demonstrated significant growth in recent years. Projections indicate it will increase from $88.33 billion in 2025 to $93.08 billion in 2026, exhibiting a compound annual growth rate (CAGR) of 5.4%. Historically, this expansion can be attributed to several key factors, including infrastructure development, a rise in construction activities, industrial expansion, the demand for material handling solutions, and prevailing urbanization trends.
The lifting equipment market is anticipated to experience consistent expansion over the next few years. Its size is forecast to reach $112.75 billion by 2030, driven by a compound annual growth rate (CAGR) of 4.9%. This projected growth in the forecast period is attributed to several factors, including investments in smart construction, the adoption of automated lifting systems, the expansion of renewable energy projects, the increasing demand for efficient load handling, and developments in digital fleet management. Significant trends during this period are expected to encompass the integration of smart lifting equipment, the rise of electric lifting systems, growing demand for heavy-duty construction equipment, the broadening of rental equipment services, and a heightened focus on workplace safety.
Download A Free Sample Report For Comprehensive Market Insights:
Lifting Equipment Market Growth Momentum: Which Factors Are Influencing Demand?
The projected increase in construction activities is anticipated to fuel the expansion of the lifting equipment market in the foreseeable future. Construction activities encompass a broad spectrum of operations and procedures involved in the conceptualization, design, construction, refurbishment, and upkeep of various structures and infrastructure. These activities span multiple phases and specialized fields within the construction industry, each crucial for the successful execution of projects. The rise in construction is driven by the demand for new structures and infrastructure, accelerated urbanization, and advancements in construction techniques and materials. Lifting equipment plays a vital role in construction by facilitating the safe movement of heavy goods and components, expediting project timelines, and enhancing both worker productivity and safety. For illustration, in November 2024, the Office for National Statistics, a US-based government agency, reported a 4.2% increase in the value of construction new work at current prices in Great Britain in 2023, reaching a record £139,029 million. This growth was attributed to an increase in private sector work by £2,050 million and in the public sector by £3,578 million. Consequently, the escalating volume of construction activities is expected to propel the lifting equipment market.
Lifting Equipment Market Segmentation: How Is The Market Structured Across Key Categories?
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 Trends Reshaping Industry Growth
Leading firms in the lifting equipment market are concentrating on creating cutting-edge solutions, particularly elevator technology, to maintain their competitive standing. Elevator technology encompasses progress and enhancements in elevator systems aimed at boosting efficiency, safety, comfort, and ecological responsibility. Such innovations are crafted to meet the growing needs of contemporary buildings, particularly tall constructions, and to refine the user’s interaction. An example illustrating this is the collaboration in November 2023 between LiftTech, an Australia-based manufacturer of elevator components, and Robustel ANZ, an Australia-based producer of industrial wireless IoT modems, to introduce a comprehensive elevator technology platform. This integrated platform features real-time communication utilities for users and service personnel, IoT capabilities enabling effective data transfer and proactive maintenance, and digital displays for announcements and promotions. Furthermore, it incorporates closed-circuit television (CCTV) for heightened security and a video management system for storing and managing surveillance recordings. By converging these technologies, the platform is expected to elevate safety, accelerate elevator functioning, and optimize maintenance procedures.
Lifting Equipment Market Competitive Landscape And Leading Companies
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
Access The Complete Lifting Equipment Market Report:
Lifting Equipment Market Geographic Analysis: Where Is Demand Growing The Fastest?
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
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
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.