Food & Beverage

Global Indoor Lifting Machine Market

January 21, 2022
ID: SR/MM-07
Format:Pdf
Pages:220

Global Indoor Lifting Machine Market, By Type (Scissor Lift, Forklifts, Cranes, Boom Lifts, Hoists, and Others), By Operation Type (Electric, Hydraulic, Engine Powered, Pneumatic, and Others), By End-Use (Aerospace and Defense, Automotive & Railway, Construction & Mining, Energy & Power, Retail, Storage and Warehouses, Transportation and Logistics, Shipping & Material Handling, and Others), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

The Indoor Lifting Machine market is expected to grow at a CAGR of 4.8% during the forecast period, 2021-2027. The growing adoption of hybrid and electric lifting machines among various industry verticals is one of the key factors increasing the demand for global Indoor Lifting machines. The availability of technologically advanced equipment such as forklifts and Boom Lifts and the growing popularity of scissor lifts in the construction industry in the developing countries to enhance operational performance, rising worker safety concerns and implementation of strict worker safety laws are the primary factors accelerating the growth of Indoor Lifting Machine market. Furthermore, the growing demand for lifting equipment such as cranes and hoists for indoor applications among various industrial verticals will further support the growth of the global indoor lifting machine market.

What is Indoor Lifting Machine?

The indoor lifting machine is a motorized vehicle that lifts and lowers loads of personnel and equipment to inaccessible areas, usually at a height. It supports scaffold work platforms, assists operators in completing their tasks faster and more securely, and provides a multi-functional alternative to ladders and towers. These indoor lifting machines have high mobility and flexibility, due to which these machines find application in the construction, retail, entertainment, and manufacturing sectors for temporary maintenance purposes. Leading manufacturers are currently developing innovations and process improvement strategies to introduce advanced products.

Growth Driver

High demand for Indoor Lifting Machines among various industry verticals

The growing demand for forklifts in the warehouse and logistics, increasing demand for cranes and hoists in the mining industry, rise in the demand for the product from mining and construction industries due to the rise in levels of industrialization activities, rising growth of logistics and warehousing industry and rising investment by the government for the development of the products with programming capabilities are primary factors driving the growth of the global indoor lifting machines market in the coming years. In addition, to maintain the competitive advantage, the leading industries are largely adopting automated material handling systems to increase their operational efficiency, resulting in the increased adoption of these machines in various heavy-duty industries for lifting other machinery and products created by these industries.

Furthermore, the growing e-commerce industry has created several opportunities for the leading manufacturers in the Indoor Lifting Machine market. The shifting preference of consumers towards online shopping has increased the immense burden on e-commerce industries worldwide. Thus, increasing utilization of various lifting equipment and the rising development of customized forklifts will further create new opportunities in the growth of the global indoor lifting machine market over the forecast period.

Opportunities

High adoption of digitalization in supply chain process with integration of IoT among Indoor Lifting Machine

The rise in the adoption of industrial IoT among leading manufacturers is driving a huge transformation. It increases networking and intuitive collaboration with users and helps in reducing downtime, supercharges productivity, and boosts accuracy. With the help of modern technologies, the key players are integrating the Internet of Things (IoT) and Artificial Intelligence (AI) for enhancing operating performance. They are also launching compact electric scissor lifts with smart control panels, which will provide various opportunities to grow Indoor Lifting machines in emerging markets. However, the high initial investment and lack of skilled operators are expected to hinder the growth of the global indoor lifting machine market in the coming years.

Pre-Covid-19 impact on Indoor Lifting Machine market

Factors such as rapid industrialization and increased growth of various manufacturing industries had created various opportunities for the growth of the Indoor Lifting Machine market across the globe. The rapid expansion of automobile and construction industries in developing and developed countries has boosted the demand for Indoor Lifting machines. The high demand for cranes, scissor lifts, and forklifts among various industries verticals, including metals & heavy machinery, food and beverages, and chemical industries, has increased the growth of the Indoor Lifting Machine market across the globe.

Covid-19 impact on Indoor Lifting Machine market

The COVID-19 pandemic has severely impacted the Indoor Lifting Machine market in 2020 around the globe. The sudden decline in the demand for Indoor Lifting Machine is attributable to the stringent regulations imposed on the various manufacturing industries, resulting in the decreased shipments of Indoor Lifting Machine. The complete shutdown of various construction and mining projects across the globe has significantly impacted the growth of the global indoor lifting machine market. Furthermore, the downfall of automotive and other manufacturing industries has slowed down the demand for indoor lifting machines in emerging economies such as China, India, South Korea, and various other countries across the globe.

Moreover, the market is expected to grow significantly in the coming years due to the easing of norms such as social distancing and nationwide lockdown. The Indoor Lifting Machine market will recover owing to rapid growth in e-commerce and growing safety concerns among various industry verticals.

Post Covid-19 impact on Indoor Lifting Machine market

During the forecast period, there will be significant growth in the Indoor Lifting Machine market. The rapid industrialization, the widespread adoption of the internet of things (IoT), and artificial intelligence will provide lucrative opportunities escalating the Indoor Lifting Machine market across the globe. Furthermore, the significant growth of aerospace, agriculture, automotive, chemical, and construction industries and intense competition among e-commerce industries will drive the Indoor Lifting Machine market growth in the coming years.

Type Segmental Analysis

Based on the Type, the Indoor Lifting Machine market is segmented into Scissor Lift, Forklifts, Cranes, Boom Lifts, Hoists and others. The scissor lift segment is expected to hold the highest share in the global indoor lifting machine market. Increasing demand for building maintenance and repair activities, along with the growing popularity of electric and hybrid lifts, is anticipated to increase market growth over the coming years. Furthermore, the forklift segment is expected to have significant growth in the global indoor lifting machine market due to the increasing demand for lifting loads in the shipping industry and the growing demand for forklifts in the warehouse and logistics segment.

Operation Type Segmental Analysis

Based on the Operation Type, the Indoor Lifting Machine market is classified into Electric, Hydraulic, Pneumatic, Engine Powered, and others. The Engine powered segment accounted for the largest share in the global indoor lifting machine market. Engine-powered lifting machines tend to be more construction-oriented as they can be easily driven and used on slopes. In addition, they have a greater vertical reach, higher weight capacity, and larger working platforms, which eventually provide more accessibility for multiple workers, thereby driving the product demand over the coming years.

Furthermore, electric lifting machines are expected to witness significant growth in the global indoor lifting machine market in the coming years. This growth is attributable as electric indoor lifting machines do not emit hazardous fumes and gases, provide a safe indoor working environment, and produce minimal noise.

End-User Industry Segmental Analysis

Based on the end-user industry, the Indoor Lifting Machine market is classified into Aerospace and Defense, Automotive & Railway, Construction & Mining, Energy & Power, Retail, Storage and Warehouses, Transportation and Logistics, Shipping & Material Handling, and Others. Transportation and Logistics are expected to have significant growth during the forecast period. Transportation and Logistics include warehousing and transportation services to various companies to meet their products’ demands and delivery services to customers. The growing need for efficient order management, increased logistics and transportation operations outsourcing, and growing supply chain networks have surged the demand for indoor lifting machines in the Transportation and Logistics industries.

Furthermore, high stability and operational efficiency boost the adoption of these lifts in residential infrastructure construction, building maintenance, and utility projects. Apart from this, governments of numerous countries and private companies are increasingly investing in infrastructure developments, resulting in the increased adoption of indoor lifting machines in the construction industry across the globe.

Region Segmental Analysis

The Indoor Lifting Machine market is categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growing industrialization and increasing automation investment among industries have boosted the demand for Indoor Lifting machines. Growing e-commerce, manufacturing, automotive, and food and beverage industries have increased the demand for Indoor Lifting machines in emerging economies. Furthermore, the market is expected to grow significantly in countries such as China and Japan due to key manufacturers’ presence and growing demand for lifting equipment among industries to meet customers’ increased demand.

Competitor Analysis

Companies include Terex Corporation., Ingersoll-Rand plc, Toyota Industries Corporation, Daifuku Co ., Ltd, KION Group, Crown Equipment Corporation, Mitsubishi Forklift Trucks, Toyota Industries Corporation, Konecranes Plc, Columbus McKinnon Corporation, KITO Corporation, ABUS Crane System, and Other Prominent Players are the key players in the Indoor Lifting Machine market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Automated Materials Handling Equipment manufacturing firm
Local Governments
Regulatory bodies
Suppliers
Retailers

Recent Developments

In September 2021, Daifuku Oceania partnered with New Zealand Post to implement automated packet and parcel sortation, along with advanced inbound processing and automated singulation technology.
In June 2021, JBT Corporation has acquired Previno, a leading provider of Food Safety technology, primarily for poultry solutions.
In September 2020, the KION group expanded its production facility in Stoibro (Czech Republic) by adding a third factory building.

Scope of the Report

Report Attribute	Details
Growth Rate	CAGR of 4.8% from 2020 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Daifuku Co. Ltd., Ingersoll-Rand plc, Terex Corporation, KION Group, Crown Equipment Corporation, Mitsubishi Forklift Trucks, Konecranes Plc, Toyota Industries Corporation, Columbus McKinnon Corporation, KITO Corporation, ABUS Crane System, and Other Prominent Players.

Market Modelling

By Type

By Operation Type

Electric
Hydraulic
Engine Powered
Pneumatic
Others

By End-Use

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the growth rate of the Indoor Lifting Machine market?

The Indoor Lifting Machine market is projected to grow at a CAGR of 4.8% during the forecast period, 2021-2027.

What are the factors driving the global Indoor Lifting Machine market?

The Indoor Lifting Machine market is expected to grow significantly due to the growing demand for indoor lifting machines among various industrial verticals and growing technological advancements in manufacturing various lifting equipment.

What are the end-users for the Indoor Lifting Machine?

The key users for the Indoor Lifting Machine market are classified into Aerospace and Defense, Automotive & Railway, Construction & Mining, Energy & Power, Retail, Storage and Warehouses, Transportation and Logistics, Shipping & Material Handling, and Others.

Which region is expected to have the largest share in the global Indoor Lifting Machine?

The Asia Pacific region is expected to dominate the Indoor Lifting Machine market due to the growing demand for lifting machines among various industrial verticals and increasing e-commerce and manufacturing industries in emerging economies like China, India, and Japan.

Which are the major companies for the global Indoor Lifting Machine?

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