About Heavy Lifting Equipment
Heavy Lifting Equipments are also known as lifting gear, is a general term for any equipment that can be used to lift loads. With the help of industrial lifting equipment, the loading and unloading of heavy metals products has become an easy task for shipping purposes. These lifting equipment have a wide range of application in various manufacturing units, construction sites, dockyards, fabrication workshops, the distribution unit, warehouses, and others. It helps in minimizing human workload and reduces the injuries caused due to the lifting and manipulation of heavy machinery. Moreover, High demand for sophisticated and high capacity lifting equipment are driving the Heavy Lifting Equipment.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.4% |
The market is fragmented with International and National players. Use of Heavy lifting Equipment in industrial construction and plant maintenance projects, from petrochemical plants to civil construction is acting as a driving factor for the market. Hence Manufacturers are involved in innovating wide range of Equipment for Lifting in Industries. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
AXTech (Norway), Hyundai Heavy Industries, Konecranes (India), TTS Group ASA (Norway), Caterpillar Inc. (United States), Liebherr AG (Switzerland), Terex (United States), Volvo Construction Equipment AB (Sweden), Komatsu (Japan) and Doosan Infracoe (South Korea) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Hitachi Machinery Construction (Japan), JCB (United Kingdom), Sany (China) and United Crane & Rigging Services (United States).
Segmentation Overview
AMA Research has segmented the market of Global Heavy Lifting Equipment market by Type (Manually, Hydraulic and Electrical), Application (Construction & Manufacturing, Oil & Gas, Public Works & Rail Road, Mining and Others) and Region.
On the basis of geography, the market of Heavy Lifting Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Nature of Installation, the sub-segment i.e. Overhead will boost the Heavy Lifting Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Equipment, the sub-segment i.e. Winches will boost the Heavy Lifting Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Supporting Investment from the Government and Introduction of Automation Process in Production Process
Market Growth Drivers:
Increasing Construction Activity, Rising Investment in Infrastructure Development and Rising Demands for Lifting Loads in the Shipping Industry
Challenges:
Changing Customers Needs and Increasing Manufacturing Cost
Restraints:
High Maintenance Requirements and High Failure Rates
Opportunities:
The Emergence of New Handling and Lifting equipment
Market Leaders and their expansionary development strategies
March 2019, United Crane & Rigging (UCR) Services recently took delivery of its first Liebherr LRT 1100-2.1 rough terrain crane.UCR plans to deploy the new crane for long-term rentals. and The Liebherr LRT 1100-2.1 includes standard safety features such as multiple access ladders leading onto a flat deck, and Liebherr’s VarioBase, which allows infinitely variable and asymmetric outrigger positions.
SMARTON is our most advanced, built-up overhead crane, constructed according to manufacturing needs. With lifting capability up to 250 tons for a single-trolley crane and 500 tons for a double-trolley crane, the SMARTON is suitable for demanding lifting tasks like heavy part manufacturing and the assembly of line equipment.
Key Target Audience
Heavy Lift Equipment Manufacturers, Traders/Suppliers/Dealers, Industry Associations, Government and Regulatory Bodies and Potential Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.