Industrial Lifting Equipment Market to Gain a Stronghold by 2026

The manufacturing industries have grown very rapidly since the second industrial revolution and in mid-nineties. Industries are continuously striving to increase their production capacity and emphasizing their ‘all under one roof’ policy. Since the industrialization started, the manufacturer had a hard time to deal with material handling problems. Material handling means to move materials from one place to another, which may include dragging, conveying or lifting of materials.

Lifting of material is sometime a tough task when the materials are either delicate, hot, or very heavy. For this, almost every industry involves usage of lifting equipment. Industrial lifting equipment are the special machines or mechanisms which can reduce the human efforts for lifting anything and placing it wherever desired. Industrial lifting equipment may include hoists, fork lifts, cranes, hook-pulleys, etc. Industrial lifting equipment may vary from industries to industries based on type of material to be lifted, gross weight of material, temperature of work piece or finished or WIP good, lifting positions, complexity, automated or manual system, etc.

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The industrial lifting equipment market involves mainly two types of equipment – general manufactured like fork lifts, stackers, hoists, pulleys systems, etc. and special manufactured like overhead cranes, lifts, robotic arms, conveyors, etc. The industrial lifting equipment find uses in various manufacturing units, fabrication workshops, construction sites, dockyards, warehouses, etc.

Industrial Lifting Equipment Market: Dynamics

Industrial lifting equipment market is primarily dependent on industrial growth and degree of automation. The companies are investing largely to increase its production and stocks of material. The efforts to spread its warehouses in different regions to extend reach all over, are some factors which are anticipated to levitate the industrial lifting equipment market. Also, increasing national and international trade and blooming material transit industries involve industrial lifting equipment for loading, unloading and stacking are also estimated to boost up industrial lifting equipment market. Moreover, involvement of these equipment in construction sector may also levitate the demands in industrial lifting equipment market.

It is desired that an industrial lifting equipment must fulfill its purpose and should be robust enough to lift up wide range of weights. Also, industrial lifting equipment should occupy less space for installing and transit applications. High cost, bulky size, limited weight lifting capability and slow speed of operation are some common problems associated with industrial lifting equipment. Also, high maintenance requirements and high failure rates are other factors which restraints global industrial lifting equipment market.

The industrial lifting equipment manufacturers are estimated to find high demands for sophisticate and high capacity lifting equipment. Also, the industrial lifting equipment should be able to work with various type of materials in different conditions.

Industrial Lifting Equipment Market: Segmentation

The industrial lifting equipment market can be segmented into various categories on the basis of type, on the basis of mechanism involved, on the basis of nature of installation and on the basis of application area.

On the basis of type, the industrial lifting equipment market can be segmented as:

Lifts
Fork lifts
Hoists
Stackers
Pallet trucks
Robotic arms
On the basis of mechanism involved, the industrial lifting equipment market can be segmented as:

Hydraulic
Pneumatic
Electrical
Magnetic
Scissor lifts
On the basis of nature of installation, the industrial lifting equipment market can be segmented as:

Overhead
Fulcrum
Vehicle mounted
On the of application area, the industrial lifting equipment market can be segmented as:

Manufacturing industry
Process industry
Shipping dockyards, warehouses

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Industrial Lifting Equipment Market: Key Players

The Industrial lifting equipment market is dominated by several local brands and global companies. Some of the examples of industrial lifting equipment market participants include Terex Corporation, Ingersoll-Rand plc., Toyota Industries Corporation, Daifuku Co., Ltd, KION Group, Crown Equipment Corporation, Mitsubishi Forklift Trucks, bv., Konecranes Plc, Columbus McKinnon Corporation, KITO Corporation, ABUS Crane System.

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This release was published on openPR.