Lifting Equipment Market Report 2026

Lifting Equipment Market Overview

• Lifting Equipment market size has reached to $88.33 billion in 2025 • Expected to grow to $112.75 billion in 2030 at a compound annual growth rate (CAGR) of 4.9% • Growth Driver: Impact of Increasing Construction Activities on the Lifting Equipment Market • Market Trend: Lifttech Partners With Robustel ANZ To Launch Innovative All-In-One Elevator Technology Platform • North America was the largest region in 2025 and Asia-Pacific is the fastest growing region.

What Is Covered Under Lifting Equipment Market?

Lifting equipment refers to a range of machinery, tools, and devices designed to lift, lower, and move loads. This category encompasses a wide range of tools and machines designed to handle various weights and sizes of objects, ensuring safe and efficient movement within different environments. The main types of lifting equipment are trucks, lifts, cranes, hoists, jacks, aerial work lift platforms, and other types. Trucks in the lifting equipment market refer to vehicles designed for transporting goods and materials, often equipped with hydraulic systems to lift and unload cargo. The various mechanisms include mechanical, hydraulic, pneumatic, electric, and magnetic used by various applications such as construction, government, power, industrial, telecommunication, and other applications.

What Is The Lifting Equipment Market Growth Forecast?

The lifting equipment market size is expected to see steady growth in the next few years. It will grow to $112.75 billion in 2030 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to investments in smart construction, adoption of automated lifting systems, growth of renewable energy projects, demand for efficient load handling, digital fleet management. Major trends in the forecast period include integration of smart lifting equipment, growth of electric lifting systems, demand for heavy-duty construction equipment, expansion of rental equipment services, focus on workplace safety.

Tariff Impact On Lifting Equipment Market

Tariffs are impacting the lifting equipment market by increasing the cost of imported steel structures, hydraulic systems, electric motors, control units, and load-handling components. Construction and industrial users in North America and Europe are particularly affected due to reliance on imported cranes, hoists, and lifts, while Asia-Pacific exporters face competitive pricing challenges. These tariffs are raising capital equipment costs and delaying infrastructure projects. However, they are also encouraging domestic manufacturing, regional sourcing of components, and innovation in energy-efficient and electric lifting equipment.

Global Lifting Equipment Market Segmentation

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 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

What Is The Driver Of The Lifting Equipment Market?

The increasing construction activities are expected to propel the growth of the lifting equipment market going forward. Construction activities refer to a wide range of tasks and processes involved in planning, designing, building, renovating, and maintaining structures and infrastructure. These activities encompass various stages and disciplines within the construction industry, each contributing to completing construction projects. The increase in construction activities is fueled by the need for new buildings and infrastructure, increasing urbanization, and improvements in construction methods and materials. Lifting equipment is used in construction activities to safely move heavy materials and components, accelerate project timelines, and enhance worker efficiency and safety. For instance, in November 2024, according to the Office for National Statistics, a US-based government agency, reported that the value of construction new work in current prices in Great Britain in 2023 increased by 4.2% to a record high of £139,029 million; this was caused by growth in both private sector work of £2,050 million and in the public sector of £3,578 million. Therefore, the increasing construction activities will drive the lifting equipment industry.

What Is The Driver Of The Lifting Equipment Market?

The increasing construction activities are expected to propel the growth of the lifting equipment market going forward. Construction activities refer to a wide range of tasks and processes involved in planning, designing, building, renovating, and maintaining structures and infrastructure. These activities encompass various stages and disciplines within the construction industry, each contributing to completing construction projects. The increase in construction activities is fueled by the need for new buildings and infrastructure, increasing urbanization, and improvements in construction methods and materials. Lifting equipment is used in construction activities to safely move heavy materials and components, accelerate project timelines, and enhance worker efficiency and safety. For instance, in November 2024, according to the Office for National Statistics, a US-based government agency, reported that the value of construction new work in current prices in Great Britain in 2023 increased by 4.2% to a record high of £139,029 million; this was caused by growth in both private sector work of £2,050 million and in the public sector of £3,578 million. Therefore, the increasing construction activities will drive the lifting equipment industry.

Global Lifting Equipment Market Trends and Insights

Major companies operating in the lifting equipment market are focused on developing innovative technologies, such as elevator technology, to sustain their position in the market. Elevator technology refers to advancements and improvements in elevator systems that enhance efficiency, safety, comfort, and sustainability. These technologies are designed to address the increasing demands of modern buildings, especially high-rise structures, and to improve the user experience. For instance, in November 2023, LiftTech, an Australia-based elevator parts manufacturer, partnered with Robustel ANZ, an Australia-based company that manufactures industrial-quality wireless IoT modems, to launch an all-in-one elevator technology platform. This all-in-one elevator platform includes real-time communication tools for users and maintenance staff, IoT connectivity for efficient data exchange and predictive maintenance, and digital signage for displaying announcements and advertisements. It also integrates closed-circuit television (CCTV)for enhanced security and a video management system to store and manage surveillance footage. This platform promises to increase safety, speed up elevator operations, and maximize maintenance by combining these technologies.

What Are Latest Mergers And Acquisitions In The Lifting Equipment Market?

In December 2023, Veslatec Oy, a Finland-based machinery and equipment provider for various industries, acquired Nordlift Oy for an undisclosed amount. With this acquisition, Veslatec aims to expand its product offerings, increase market share, strengthen its presence in the lifting equipment sector, and potentially access new customer segments or geographic markets. Nordlift Oy is a Finland-based company that manufactures lifting equipment.

Regional Outlook

North America was the largest region in the lifting equipment market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Lifting Equipment Market?

The lifting equipment market consists of sales of forklifts, elevators, winches, scissor lifts, hydraulic lifts, aerial work platforms, and material handling equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Lifting Equipment Market Report 2026?

The lifting equipment market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the lifting equipment industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.