This market research report presents a comprehensive analysis of the global handling and lifting equipment market by product (cranes, forklifts, conveyor belt, hoists, and others) and by geography (the Americas, APAC, and EMEA). Key vendors in this market are Komatsu, Konecranes, Liebherr, and Terex.
Technavio has released a new market research report on the global handling and lifting equipment market, which is expected to grow at a CAGR of around 11% between 2016 and 2020. Handling and lifting equipment is an essential part of the manufacturing and transport processes, as it is used for all loading or unloading purposes and on production lines. The need for advanced handling and lifting systems, coupled with increasing safety parameters in industries such as the construction and automobile manufacturing, is driving the growth of this market. APAC leads the global lifting and handling equipment market, owing to increased investments in infrastructure and construction projects. The region is expected to witness substantial growth during eth forecast period, with the strong growth of sectors like textiles and automobiles.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The introduction of new handling and lifting equipment is one of the latest trend gaining prominence in this market. At present, equipment manufacturers have started focusing on the incorporation of new safety and control systems in handling and lifting equipment. The operator assistance system is one such example of safety and control systems, which helps to prevent sway of the load and prevent possible collisions with obstacles or persons. Since these systems help to facilitate the coordination of loads during lifting operations, they are increasingly being incorporated into the handling and lifting equipment,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research
Cranes dominates the global lifting and handling equipment market, occupying around 37%of eth total market share. The extensive use of cranes for a wide array of construction, manufacturing, and warehousing applications will result in the strong growth of this market segment during the next four years. Comprehensive market research carried out by the analysts at Technavio has shown that this product segment will surpass a market value of more than USD 100 billion by the end of 2020.
The leading vendors in the global handling and lifting equipment market are Komatsu, Konecranes, Liebherr, and Terex. The market is witnessing competition in terms of availability of financing options like flexible monthly down payments and rental and lease services for customers in the construction industry on a monthly, yearly, and daily basis. Since the customers in this market are focusing on manufacturers offering technologically advanced, eco-friendly handling and lifting equipment, the level of competition will increase over the next few years.
A more detailed analysis is available in the Technavio report, Global Handling and Lifting Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
