Lifting Equipment Market Size To Reach $138.6 Million By 2033

December 2025 | Report Format: Electronic (PDF)

Lifting Equipment Market Growth & Trends

The global lifting equipment market size is anticipated to reach USD 138.6 million by 2033 and is projected to grow at a CAGR of 6.0% from 2025 to 2033, according to a new report by Grand View Research, Inc. Rapid growth in construction and infrastructure development is a primary driver of the lifting equipment industry. Large-scale projects such as bridges, highways, commercial complexes, and industrial facilities require reliable systems for handling heavy materials.

Rising industrialization and expansion of manufacturing facilities are also fueling market growth. Industries require efficient material handling systems to enhance productivity and minimize dependence on manual labor. Lifting equipment plays a critical role in assembly lines and heavy-load operations. This growing need for operational efficiency is accelerating market demand.

The rapid expansion of the warehousing and logistics sectors is another significant driver. Growth in e-commerce and supply chain networks demands faster and safer material movement. Automated warehouses increasingly rely on lifting systems to optimize storage and retrieval processes. This trend is supporting sustained market growth across logistics operations.

Technological advancements and increased focus on workplace safety further drive the lifting equipment industry. Modern lifting equipment incorporates automation, smart controls, and enhanced safety features. These innovations reduce accident risks and improve operational precision. Compliance with stringent safety regulations is encouraging industries to upgrade their lifting systems.

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Lifting Equipment Market Report Highlights

Based on type, the trucks segment accounted for the largest market revenue share in 2024, due to its wide usage in heavy material handling across construction, logistics, and industrial applications. Their ability to combine lifting and transportation functions improved efficiency and reduced operational time, strengthening their market dominance.
The construction segment led the market with the largest revenue share of 33.7% in 2024, driven by large-scale infrastructure development and rising urban construction activities. Increased demand for cranes, hoists, and lifting trucks for material movement and structural assembly further supported its leading position.
Based on mechanism, the mechanical segment accounted for the largest market revenue share in 2024, due to its reliability, cost-effectiveness, and widespread use in heavy-duty applications. Its simple design and low maintenance requirements made it the preferred choice for continuous industrial and construction operations.
In November 2025, Konecranes has expanded its electric product range with the introduction of a new fully electric reach stacker designed for port and container handling operations. The equipment operates on advanced battery technology that supports long working hours with reduced emissions. Its design ensures high performance and smooth operation comparable to conventional diesel models. This launch reinforces Konecranes’ focus on sustainable and efficient lifting solutions for modern logistics environments.