Latest News- Handling And Lifting Equipment Market: E-commerce is expected to lead the Application segment during 2025-2029

The Handling And Lifting Equipment Market is being driven by Growth of construction sector

The Handling And Lifting Equipment Market is expected to grow at a CAGR of 4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18.56 billion. In today's business landscape, small- and medium-sized enterprises (SMEs) are prioritizing equipment rental over outright purchase for handling and lifting applications. This cost-effective solution allows SMEs to access the latest, technologically advanced equipment, which is essential for maintaining productivity and efficiency. Renting also offers flexibility in servicing, selection, and exchange, enabling contractors to adapt to project requirements swiftly. Moreover, monthly rental payments minimize upfront capital expenditures and reduce downtime due to equipment maintenance. By partnering with reputable rental companies, businesses can ensure the highest safety standards and expert advice, ultimately contributing to project success. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • E-commerce
  • Automotive and railway
  • Food and beverages
  • Aviation
  • Others
• Product
  • Cranes
  • Forklifts
  • Conveyor systems
  • Hoists
• Source
  • Electric lifting and handling equipment
  • Hydraulic lifting equipment
  • Internal combustion engine (ICE)-powered equipment
  • Pneumatic lifting equipment
  • Manual lifting equipment
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growth of construction sector
• Growing adoption of automation in manufacturing process
• Rapid growth in e-commerce retail

However, the market also witnesses some limitations, which are as follows:

• Fluctuating prices of raw materials
• Increasing availability of second-hand and counterfeit equipment
• Shortage of skilled operators

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Market Scope in Handling And Lifting Equipment Market Research Report

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Research Analysis Overview

The Handling and Lifting Equipment market is experiencing significant growth in the warehousing industry due to private investment, heightened worker safety awareness, and automation technology breakthroughs. Warehouse owners, dockyards, and recycling operations are key adopters, integrating industrial lifting equipment and semiconductor devices into their warehousing and industrial automation processes. Despite high initial investment, the benefits of improved efficiency and safety make it a worthwhile investment.

Market Research Overview

The global market for industrial machinery and supplies, encompassing manufacturers of presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications, is experiencing significant growth. This expansion is attributed to the increasing industrial output in process and discrete industries, driven by the burgeoning demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing economies. Furthermore, private investment in the warehousing sector, coupled with heightened worker safety awareness and automation trends, is fueling market growth. Technavio projects the global industrial machinery and supplies and components market to grow substantially due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/