Global Industrial Lifting Market was valued USD XX Bn in 2018 and is expected to reach US$ 91.61 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Global Industrial Lifting Market Drivers and Restrains:
Since the beginning of industrialization, the industrialist had a hard time to deal with material handling issues and problems. Material handling means to move materials from one place to another, which may include lifting, dragging or conveying of materials. Lifting of material is sometimes a hard task when the materials are either very heavy, delicate or hot. For this, almost every industry includes usage of lifting equipment.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Industrial lifting equipment is a special mechanism or machine which can decrease the man power for lifting anything and placing it wherever desired. Industrial lifting equipment may contain cranes, hoists, forklifts, hook-pulleys, etc. Industrial lifting equipment may differ from industries to industries based on type of material to be lifted, gross weight of material, climate of workplace or WIP good, complexity, automated or manual system.
The high initial cost associated with industrial lifting equipment is responsible for restraining the industrial lifting market growth worldwide.
Manufacturers in the industrial lifting are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Industrial Lifting Market Segmentation Analysis:
Crane is expected to grow at the largest CAGR during the forecast period. Cranes are an important part of the global material handling industry. Companies focus on research and development to increase lifting, flexibility, and outreach capacity of cranes, whether they are used at ports for container lifting or in construction activity. Considering high mobility and high traveling speed for setup on construction sites, the market for mobile cranes is increased. The use of mobile cranes in drilling rigs, construction sites, aerospace, marine, and shipping.
Global Industrial Lifting Market Regional Analysis:
Asia Pacific is expected to dominate the overall industrial lifting equipment market during the forecast period because of the robust growth in construction and manufacturing industries. Asia Pacific is the most lucrative market for cranes and hoists, reason for this investment being made are construction activities, Infrastructure in developing economies. Also, leading manufacturer of forklifts across the globe and is expected to hold major market in the industrial lifting during the forecast period. Requirement of warehouses to support hub and spoke models in e-commerce and automotive sectors has surge the number of warehouses in Asia. Moreover, the government's support and a rising emphasis on workers' safety have increased the acceptance of aerial work platforms in China.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global industrial lifting market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global industrial lifting market.
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Global Industrial Lifting Market, by Type:
• Fork lifts
• Pallet trucks
• Robotic arms
Global Industrial Lifting Market, by Mechanism:
• Scissor lifts
Global Industrial Lifting Market, by Application:
• Aerospace and Defense
• Automotive & Railway
• Shipping & Material Handling
• Energy & Power
Global Industrial Lifting Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Industrial Lifting Market, Major Players:
• Toyota Industries
• KION Group
• Hyster-Yale Material Handling
• Ingersoll Rand
• Columbus McKinnon
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