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Industrial Lifting Equipment Forecast for the New Financial Year

27 April, 2022

Industrial Lifting Equipment Forecast for the New Financial Year

The Industrial Lifting Equipment forecast describes the current market and competition, listing all the significant regions across the globe, including Europe, the Middle East, Asia-Pacific, North America, and Latin America. Acquisitions, mergers, collaborations, and new product launches are all key strategies used by the main contenders in the Industrial Lifting Equipment market. The competitive analysis discusses how this had a positive impact on the strength and market position of the top businesses.

 

How is the Industrial Lifting Equipment market going to change?

The market has increased the demand for a wide range of Industrial Lifting Equipment, including hoists, hooks, forklifts, lifting gantries, and many more. These are all necessary lifting equipment and are used in a variety of industries to make a difficult task simple, such as lifting a load into a warehouse. 

There has been a demand increase for businesses within the Industrial Lifting Equipment industry, the 2022 market has already seen a high increase and is set to see a significant boost for industrial lifting equipment in terms of sales. More businesses are needing to increase their inventories for production and materials, this factor is due to the rise in national and international trading. Supply and demand currently stand at an all-time high. Between the years 2018 and 2023, it is forecast that the market is set to rise from £50 billion to £62 billion, meaning in 5 years the market has seen a £12 billion increase.

 

What are the key developments in the Industrial Lifting Equipment market?

A significant launch that has possibly had an impact on the industry is the opening of Kion Groups new asymmetric lift truck plant which opened its doors in December 2021, opening with the first forklift to roll off the manufacturing line. With new developments arising the upcoming year’s forecast for the Industrial Lifting Equipment market has been tremendously glowing and positive. Considering the last couple of years have been difficult for everyone around the globe, within different industries, as the world moves into a post-pandemic society, it’s inspiring to see the Industrial Lifting Equipment industry thriving!