Heavy Lifting Equipment - Global Stategic Business Report

The global market for Heavy Lifting Equipment was estimated at US$28.9 Billion in 2024 and is projected to reach US$37.4 Billion by 2030, growing at a CAGR of 4.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Heavy Lifting Equipment market.

Global Heavy Lifting Equipment Market - Key Trends & Drivers Summarized

Why Is Heavy Lifting Equipment Indispensable in Modern Industry?

Heavy lifting equipment is a fundamental component of industrial operations, enabling the movement, installation, and assembly of large and heavy materials across construction, mining, manufacturing, and logistics sectors. Cranes, hoists, forklifts, and hydraulic jacks are among the essential lifting machines that facilitate large-scale infrastructure development, power plant construction, and shipbuilding. The increasing complexity of engineering projects and the demand for rapid construction timelines have heightened the need for reliable and efficient lifting solutions. Heavy lifting equipment is also crucial in oil refineries, aerospace manufacturing, and offshore drilling, where precision handling of large structures is required. As industries continue to expand and evolve, the importance of heavy lifting equipment in enabling productivity and safety remains paramount.

How Is Technological Advancement Reshaping Heavy Lifting Equipment?

The heavy lifting equipment industry is undergoing a significant transformation with the integration of smart automation, remote control systems, and AI-powered load monitoring. One of the most groundbreaking innovations is the use of autonomous cranes and robotic lifting systems, which reduce human intervention and enhance precision. Digital twin technology is also gaining traction, allowing operators to simulate lifting operations before execution, minimizing risks and improving efficiency. Additionally, the development of hybrid and electric-powered lifting equipment is addressing environmental concerns, reducing carbon footprints while maintaining lifting capacity. Advanced sensors and IoT-enabled monitoring systems are improving real-time load tracking, predictive maintenance, and operational safety. These technological advancements are revolutionizing the heavy lifting industry, making lifting operations more efficient, sustainable, and cost-effective.

Why Is the Demand for Heavy Lifting Equipment Rising Across Sectors?

The demand for heavy lifting equipment is on an upward trajectory due to rapid urbanization, increasing investments in infrastructure projects, and the expansion of global supply chains. The construction sector remains a major driver, with large-scale projects such as bridges, high-rise buildings, and airports requiring high-capacity lifting solutions. The shipping and logistics industry also relies on advanced lifting equipment to handle containerized cargo at ports and warehouses. The renewable energy sector has emerged as a key end-user, particularly in wind energy projects where turbines and massive components require specialized lifting mechanisms. In industrial manufacturing, automated material handling systems are being widely adopted to streamline production processes and improve efficiency. The oil and gas industry further contributes to demand, as offshore drilling and refinery maintenance require sophisticated lifting solutions. These factors collectively reinforce the strong growth outlook for the heavy lifting equipment market.

What Are the Key Factors Driving the Growth of the Heavy Lifting Equipment Market?

The growth in the heavy lifting equipment market is driven by several factors, including increasing infrastructure development, advancements in automation and IoT-enabled lifting solutions, and the rising demand for sustainable lifting technologies. The adoption of electric and hybrid lifting machines is accelerating, as companies seek to comply with stringent environmental regulations and reduce operational costs. The increasing use of AI-driven predictive maintenance is improving equipment longevity, reducing downtime, and optimizing safety. Additionally, the expansion of global trade and e-commerce logistics is necessitating more efficient material handling solutions at warehouses and distribution centers. Emerging economies are investing heavily in industrialization, further boosting demand for high-performance lifting equipment. The growing reliance on modular and prefabricated construction techniques is also influencing market growth, as these methods require precise heavy lifting capabilities. As industries continue to evolve, the demand for technologically advanced and eco-friendly heavy lifting equipment is set to rise, shaping the future of the sector.

Report Scope

The report analyzes the Heavy Lifting Equipment market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments: Type (Cranes Type, Forklifts Type, Hoists Type, Winches Type, Lifts Type, Handlers Type, Other Types); Capacity (50 - 100 Tons Capacity, 100 - 200 Tons Capacity, Above 200 Tons Capacity); Mobility (Fixed Lifting Equipment Mobility, Portable Lifting Equipment Mobility, Mobile Lifting Equipment Mobility); Power Source (Diesel-Powered Power Source, Electric-Powered Power Source, Hybrid-Powered Power Source); Application (Construction Application, Mining Application, Industrial Manufacturing Application, Warehousing & Logistics Application, Oil & Gas Application, Energy & Power Application, Marine & Shipbuilding Application, Other Applications)

Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Cranes Type segment, which is expected to reach US$11.5 Billion by 2030 with a CAGR of a 5.8%. The Forklifts Type segment is also set to grow at 3.0% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $7.9 Billion in 2024, and China, forecasted to grow at an impressive 8.3% CAGR to reach $7.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Heavy Lifting Equipment Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Heavy Lifting Equipment Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Heavy Lifting Equipment Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as ABUS Kransysteme GmbH, American Crane & Equipment Corporation, Barnhart Crane & Rigging, Caterpillar Inc., Crown Equipment Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 36 Featured):

• ABUS Kransysteme GmbH
• American Crane & Equipment Corporation
• Barnhart Crane & Rigging
• Caterpillar Inc.
• Crown Equipment Corporation
• Daifuku Co., Ltd.
• GKS-PERFEKT
• Ingersoll-Rand Plc.
• JCB Ltd.
• KION Group
• Konecranes
• Liebherr Group
• Mammoet
• Manitou Group
• Mitsubishi Logisnext Co., Ltd.
• Palfinger AG
• Sarens NV
• Terex Corporation
• Thern, Inc.
• Toyota Industries Corporation

Tariff Impact Analysis: Key Insights for 2025

Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.

The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.

What’s Included in This Edition:

• Tariff-adjusted market forecasts by region and segment
• Analysis of cost and supply chain implications by sourcing and trade exposure
• Strategic insights into geographic shifts

Buyers receive a free July 2025 update with:

• Finalized tariff impacts and new trade agreement effects
• Updated projections reflecting global sourcing and cost shifts
• Expanded country-specific coverage across the industry