Global Industrial Lifting Equipment Market was valued at USD 68.23 billion in 2019 and expected to reach USD 92.62 billion by 2027 at a CAGR 4.5%.
Industrial lifting equipments are used for lifting r moving heavy machineries or equipments from one place to another place. Hoists, forklifts, stackers, hook-pulleys, and cranes are the types of industrial lifting equipments. They have various applications in various manufacturing units construction sites, fabrication workshops, dockyards, warehouses, and others.
Increase in usage of warehousing & logistics industry has resulted in rise in demand for lifting equipments is the key driving factor which is expected to boost the global industrial lifting equipment market growth. Furthermore, rise in demand for the product from mining and construction industries due to the rise in levels of industrialization activities will have the positive impact on market growth. Moreover, increase in demand for lifting loads in shipping industry which is expected to drive the global industrial lifting equipment market growth.
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However, high investment cost is the major restraining factor which is expected to hinder the global industrial lifting equipment market growth. Also, lack of skilled operators will affect the market growth.
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
- Pallet Trucks
- Robotic Arms
- Scissor Lifts
By Nature of Installation
- Vehicle Mounted
- Manufacturing industry,
- Shipping dockyards & warehouses
- Process Industry
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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