Home > Industrial Machinery > Industrial Equipment > Mining Equipment > Heavy Lifting Equipment Market

Heavy Lifting Equipment Market Share

Report ID: GMI12332
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Heavy Lifting Equipment Market Share

Global Heavy Lifting Equipment Company Market Share Analysis, (2023)

The global market for heavy lifting equipment showcases a competitive landscape teeming with a mix of players, from multinational giants to regional manufacturers and specialized niche companies. Predominantly fragmented, the market sees major players like Caterpillar Inc., Komatsu Ltd., Hyundai Construction Equipment, Liebherr Group, and Terex Corporation. These companies command significant market shares, bolstered by their vast product portfolios and robust brand recognition. The surge of e-commerce has broadened online sales channels, allowing brands to tap into wider audiences and boost customer engagement via digital marketing.

Heavy Lifting Equipment Market Companies

Major players operating in the heavy lifting equipment industry are:

Caterpillar Inc.
Demag Cranes AG
Hiab (Cargotec Corporation)
Hyundai Construction Equipment
Komatsu Ltd.
Konecranes
Liebherr Group
Mammoet
Palfinger AG
Sany Heavy Industry Co., Ltd.
Tadano Ltd.
Terex Corporation
The Manitowoc Company, Inc.
XCMG Group
Zoomlion Heavy Industry Science & Technology Co., Ltd.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for heavy lifting equipment was reached USD 28.1 billion in 2023 and is estimated to grow at a 5.9% CAGR from 2024 to 2032, driven by the rising demand for heavy lifting equipment in large infrastructure projects.

The cranes segment was valued at approximately USD 11 billion in 2023 and is projected to grow at a CAGR of around 6.2% from 2024 to 2032, led by their crucial role in constructing buildings, bridges, and highways.

Construction companies held around 38% share of the market in 2023 and is anticipated to grow at a CAGR of 6.3% from 2024 to 2032, as they rely heavily on cranes for erecting skyscrapers, office complexes, and residential towers.

The U.S. region dominated around 85% of the heavy lifting equipment market in 2023, driven by significant urban development projects, including high-rise buildings, bridges, and transportation hubs.

Major players in the heavy lifting equipment industry include Caterpillar Inc., Demag Cranes AG, Hiab (Cargotec Corporation), Hyundai Construction Equipment, Komatsu Ltd., Konecranes, Liebherr Group, Mammoet, Palfinger AG, Sany Heavy Industry Co., Ltd., Tadano Ltd., Terex Corporation, The Manitowoc Company, Inc., XCMG Group, and Zoomlion Heavy Industry Science & Technology Co., Ltd.