Emerging Trends to Reshape the Lifting Equipment Market: Lifttech Partners With Robustel ANZ To Launch Innovative All-In-One Elevator Technology Platform as a Key Influencer

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Lifting Equipment Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for lifting equipment has seen a consistent rise over the past few years. The increase is projected from $84.52 billion in 2024 to $88.33 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. Factors attributing to this rise during the historical period include rapid industrial development, advancements in infrastructure projects, amplified global commerce and logistics, growing mining and shipping sectors, and the heightened incorporation of solutions that promote energy efficiency.

Lifting Equipment Market Size Forecast: What's the Projected Valuation by 2029?
A robust expansion is forecasted for the lifting equipment market size in the coming years, with projections reaching $107.94 billion by 2029, driven by a compound annual growth rate (CAGR) of 5.1%. The acceleration during the forecast period is principally a result of rising industrialisation, an amplified emphasis on the safety of workers, burgeoning demand for cranes and hoists, and an upswing in construction operations coupled with mounting investment in the development of infrastructure. Significant trends anticipated within the forecast period encompass technological leaps forward, IoT integration, the incorporation of automation technologies, initiatives towards sustainability, and the amplification of the rental market.

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What Are the Drivers Transforming the Lifting Equipment Market?
The growth of the lifting equipment market is anticipated to be driven by the rising construction undertakings. This encompasses a plethora of tasks and procedures related to planning, designing, establishing, remodeling, and maintaining structures and infrastructures. Every stage and discipline within the construction industry contributes to the successful completion of construction projects. The surge in construction undertakings is a result of the demand for new structures and infrastructures, heightened urbanization, and advancements in construction techniques and materials. Lifting equipment plays a crucial role in these activities by safely transporting heavy materials and parts, speeding up project schedules, and increasing worker productivity and safety. For example, the United States Census Bureau, a government agency in the US, reported a growth rate of 10.% in construction-related activities in February 2023, elevating from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Consequently, the escalation in construction undertakings is expected to propel the lifting equipment market.

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What Are the Key Trends Driving Lifting Equipment Market Growth?
To maintain their place in the lifting equipment market, leading corporations are concentrating on creating unique technologies, such as elevator technology. This refers to upgrades and enhancements to lift systems that improve efficiency, safety, convenience, and sustainability. Such advancements are intended to satisfy the needs of contemporary buildings, particularly high-rise constructions, and to enhance the customer experience. For example, LiftTech, an Australian elevator parts producer, collaborated with Robustel ANZ, an Australian industrial-quality wireless IoT modems manufacturer, in November 2023, to unveil an all-in-one elevator technology platform. This unified elevator platform provides real-time communication tools for consumers and maintenance personnel, IoT connectivity for accurate data transmission and predictive maintenance, and digital signage for displaying updates and ads. It also includes CCTV integration for improved security, and a video management system for surveillance footage storage and management. The amalgamation of these technologies on this platform promises to augment safety, expedite elevator functions, and optimize maintenance.

Which Segments in the Lifting Equipment Market Offer the Most Profit Potential?
The lifting equipmentmarket 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

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

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Which Firms Dominate the Lifting Equipment Market by Market Share and Revenue in 2025?
Major companies operating in the lifting equipment market are Komatsu Ltd., Toyota Industries Corporation, Anhui Heli Co. Ltd., Liebherr International AG, XCMG Group, SSAB AB, Kion Group AG, Zoomlion Heavy Industry Science and Technology Co Ltd, Linamar Corporation, Ingersoll Rand Inc., Mitsubishi Logisnext Co. Ltd., Jungheinrich AG, Tere*x 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

Which Regions Offer the Highest Growth Potential in the Lifting Equipment Market?
North America was the largest region in the lifting equipment market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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