The Lifting Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Lifting Equipment Market?
The market size of the lifting equipment industry has recently experienced significant growth. From 2024's $84.52 billion, it is projected to increase to $89.77 billion in 2025, representing a compound annual growth rate (CAGR) of 6.2%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Lifting Equipment Industry?
The lifting equipment market is projected to increase to a size of $112.8 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.9%.
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What are the Key Growth Drivers Fueling the Lifting Equipment Market?
The drivers in the lifting equipment market are:
• Rapid industrial growth
• Expansions in infrastructure projects
• Increased global trade and logistics
• Expansion of the mining and shipping industries
• Increased adoption of energy-efficient solutions
Global Market Segmentation: Identifying Major Lifting Equipment Industry Segments
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, Other Applications
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What are the emerging Trends Shaping the Future of the Lifting Equipment Market?
The trends in the lifting equipment market are:
• Technological advancements are significantly shaping the future of the lifting equipment market.
• The integration of the Internet of Things (IoT) is a prominent emerging trend.
• Automation technologies are becoming increasingly prevalent in this market.
• A focus on sustainability initiatives and expansion of the rental market are current trends.
Who Are the Top Competitors & Leading Players in the Lifting Equipment Market?
The major players in the lifting equipment market are:
• Komatsu Ltd.
Regional Dominance: Which Area Leads the Global Global Lifting Equipment Market Overview 2025: Competitive Analysis & Growth Trends Market?
North America was the largest region in the lifting equipment market in 2023
