Lifting equipment market seen topping $112B by 2030

The Business Research Company says the global lifting equipment market is on track to exceed $112 billion by 2030, driven by infrastructure buildouts, industrial automation and demand for safer, smarter material-handling systems. Asia-Pacific is expected to be the biggest regional market, while Konecranes leads a fragmented competitive field.

Why it matters: - The lifting equipment market is moving from a niche industrial category to a large-scale growth market tied to construction, logistics, factories and infrastructure. - The market is projected to surpass $112 billion by 2030, making it a meaningful slice of the broader machinery industry. - Growth in lifting systems affects productivity, safety and project timelines across construction, ports, warehouses and manufacturing.

What happened: - The Business Research Company released its Lifting Equipment Market Global Market Report 2026 – Market Size, Trends, And Forecast 2026-2035. - The report forecasts 5% compound annual growth through 2030. - The lifting equipment market is expected to reach about $112 billion by 2030. - The market is expected to represent about 11% of the other general purpose machinery market, which is projected to reach about $1,011 billion by 2030. - The broader machinery industry is forecast at $5,280 billion by 2030, putting lifting equipment at nearly 2% of the total. - Asia-Pacific is projected to be the largest regional market by 2030 at $49 billion, up from $35 billion in 2025. - China is projected to be the largest country market in 2030 at $26 billion, up from $19 billion in 2025.

The details: - Trucks are expected to be the largest product segment in 2030, accounting for 30% of the market, or $34 billion. - Other product categories include lifts, cranes, hoists, jacks and aerial work platforms. - The market is also segmented by mechanism into mechanical, hydraulic, pneumatic, electric and magnetic types. - Applications span construction, government, power, industrial and telecommunication uses. - Konecranes plc held the top global sales position in 2025 with a 1% market share. - Toyota Industries Corporation followed with 0.5%, Kion Group AG with 0.4%, and Komatsu Ltd., Liebherr International AG and Tadano Ltd. each with 0.3%. - Terex Corporation and Palfinger AG each held 0.2%, while Logisnext Co. Ltd. and Jungheinrich AG each held 0.1%. - The top 10 companies together controlled only 3% of the market in 2025, underscoring how fragmented the category remains. - Konecranes’ lifting equipment and service division covers industrial cranes, hoists, port handling machinery and lifting technologies. - In May 2026, Konecranes introduced its Generation D lift truck platform, which includes diesel and electric reach stackers built on modular architecture. - The Generation D platform includes advanced digital management, remote diagnostics, over-the-air updates and secure cyber-infrastructure.

Between the lines: - The low concentration among the largest players suggests that scale alone has not created a dominant global supplier. - Customer demand is shifting toward equipment that combines electrification, automation, remote monitoring and durability. - Modular platforms and connected features are becoming competitive differentiators, especially for ports and industrial fleets. - The growth story is being pulled by real economy spending: infrastructure, urban construction, logistics upgrades and factory automation.

What’s next: - Demand is expected to keep rising as smart city projects, transportation corridors and industrial buildouts continue through 2030. - The fastest growth areas are expected to include trucks, cranes, lifts, aerial work platforms and energy-efficient electric systems. - Companies are likely to keep investing in smart connected lifting technology, electrification, remote monitoring and expanded service networks. - The report also points to continued opportunity in markets tied to construction, warehousing, power and heavy industry.

The bottom line: - Lifting equipment is becoming a larger, more technology-driven market, with growth anchored in infrastructure spending and the push for safer, more efficient material handling.