The rising demand for lifting loads in the shipping industry, increasing demand for forklifts in the warehouse and logistics segment, and increasing demand for cranes and hoists in the mining industry is driving the global heavy lifting and haulage market.
Impact Of Covid-19 On The Global Heavy Lifting And Haulage Market
As the COVID-19 virus grows, regulatory agencies throughout the globe are being required to undertake strict shut downs and travel restrictions. Moreover, this has had a huge influence on the Heavy Lifting And Haulage industry's growth.
The COVID-19 pandemic disrupted supply chain systems, since a number of fundamental equipment and consumables are significantly reliant on foreign imports. Moreover, the strict demand of governmental bodies to adhere to social distance requirements pushed businesses to function with a basic minimum of workers, resulting in a decline in the efficiency rate of the sectors. As a result, all of these problems harmed the Heavy Lifting And Haulage business.
Prime Movers Will Propel The Global Heavy Lifting And Haulage Market Growth
Prime movers segment accounted for largest market share of global heavy lifting and haulage market. A crane installed on an utility vehicle or truck chassis is known as a Lorry Loader. Its principal function is to load and unload trucks. It has the ability to raise loads from all sides, which adds to its versatility. Straight Boom and Knuckle Boom Lorry Loader Cranes are the most common variants developed by manufacturers. The range includes versions with capacities ranging from 6 tonne metres to 20 tonne metres.
A Prime Mover (also called as a trucking unit, truck cab, prime mover, ten wheeler, tractor cab, semi-tractor, semi-truck, tractor rig, truck rig or large rig, or simply a tractor, truck, or rig) is a heavy-duty towing engine that provides motive power for towing or trailering a load. Heavy and medium duty commercial and military rear-wheel-drive semi-tractors used to transport semi-trailers, and very heavy-duty often off-road-capable commercial and military vehicle units, including ballast tractors, are divided into two groups. The prime mover of a diesel-electric locomotive is the diesel engine, which drives the main generator, which produces electricity to produce the traction motors, which are geared to the drivers. Rather than a diesel engine, the primary mover might be a gas turbine. The generator, traction motors, and interconnection devices are all regarded part of the power transmission system, not the prime mover in any scenario. A locomotive that is wired-electric or battery-electric does not have an on-board primary mover and instead relies on an external power source.
A modular trailer with several axles and an extended 11-meter-long vessel deck. This is a one-of-a-kind piece of equipment since it will allow us to move extremely high and large commodities that would normally need water transportation. The deck of the vessel contains hydraulic mechanisms that allow it to be lowered to virtually levels with both the ground during transit, even with the cargo above it.
More impressively, instead of resting on a platform, the cargo may be fastened from sides during transit thanks to the vessel deck. Again, this capability allows to move extremely high goods that would be difficult for anyone to do.
Oil & Gas Will Be The Leading Segment In The Global Heavy Lifting And Haulage Market Growth.
In the Oil & Gas industry is has varied opportunities for global heavy lifting and haulage market players. The oil and gas business includes all from drilling operations for wells through drill operations and oil extraction. When you're working on a project that requires gas processing, compression, or rig support, Deep South has you covered. Deep South can offer or construct the essential tools to really get the job done, from equipment shipping through installation.
North America Followed By APAC Region Are Dominating The Heavy Lifting And Haulage Market Growth.
During the projection period, the Asia Pacific area is predicted to have the greatest CAGR in global heavy lifting and haulage market. This is because to increased demand for lifting cargoes in the shipping sector, growing preference for forklift in the warehousing and distribution segment, and a rising demands for crane and lifting equipment in the mining sector.
In addition, rising national and international commerce, as well as the growing material transit industries, which use commercial lifts for loading, unloading, and stacking, are expected to enhance the market for industrial lifting equipment. Furthermore, the use of these machines in the construction industry may boost demand for industrial lifting equipment.
It is required that industrial lifting equipment serve its intended purpose and be capable of lifting a wide variety of weights. In addition, for installation and travel purposes, commercial lifting equipment should take up less space. Industrial lifting equipment has a number of drawbacks, including high cost, bulky size, restricted weight lifting capabilities, and poor speed of operation. Other factors that limit the global manufacturing lifting equipment market include expensive maintenance needs and high failure rates. The need for sophisticated and high-capacity lifting equipment is expected to be significant, according to industrial lifting equipment manufacturers. In addition, commercial excavator should really be able to function with a variety of materials in a variety of environments.
To handle operations efficiently, the growing number of offshore facilities requires dependable heavy lifting and hauling. Offshore installation lifting needs differ based on the vessel type. Heavy lifting and haulage equipment suppliers to the offshore sector also create standard blocks to meet the lifting needs of offshore installations.
The global heavy lifting and haulage market for heavy lifting and haulage was estimated at USD 72.04 billion in 2020, and is expected to increase at a CAGR of 4.4 percent from 2022 to 2029 and reach approximately 96.11 billion by 2029.
The need for heavy lifting and haulage systems, as well as the offshore industry's growing safety criteria, are the primary drivers of investment in the global heavy lifting and haulage market.
The transportation, handling, and installation of indivisible big goods with weights exceeding 100 tonnes and widths/ s exceeding 100 metres. These enormous things are lifted or placed into position after being carried from one location to another (often across country borders). The absence of standardisation, which necessitates unique transportation planning, is characteristic of heavy lift commodities.
Turbines, reactors, boilers, Generators, towers, casts, satellites, heaters, presses, locomotives, boats, military troops, and equipment are examples of typical heavy-lift cargo. Components of oil rig and producing platforms are also lifted in the offshore sector; many of them will be sometimes released at the end of an installation's operating life. The decommissioning of both the North West Hutton drilling rig in the British area of the North Sea resulted in many lifts of over 2000 metric tonnes.
Offshore boats may be constructed to handle a variety of commodities, resulting in varying lifting and material handling needs. Offshore safety authorities in numerous locations govern the design of equipment that will be used in offshore installations. The manufacturing and marketing of lifting equipment for use in offshore basins are governed by machinery rules. Companies that provide equipment must make safe methods for subsea load management in extreme weather situations.
Offshore facilities are exposed to harsh weather conditions and must execute a variety of heavy lifting operations. The equipment suppliers must construct their gadgets with the unique demands of the offshore ship in mind, as well as the specific duty that it is intended to do. Heavy lifting and hauling have tight design standards in countries like the United Kingdom and Norway. Manufacturing firms are devoting additional resources to developing creative solutions that adhere to the operating region's safety standards. Developing workable responses for offshore installations with space restrictions, on the other hand, is a significant element influencing the global heavy lifting market growth.
In the near future, the growing offshore manufacturing activity in Latin America will supply the largest market for heavy lifting and haulage equipment. West Africa, with its planned development projects and substantial offshore reserves, is one of the most promising regions for the heavy lifting and haulage market to flourish. Government entities in European countries have imposed tight standards, which will further encourage investment in this area. Exploration businesses in Asia Pacific are also expanding their investments in FPSO and FLNG systems, which will help the global heavy lifting and haulage market develop.
Specialized trucks or trailer (flatbeds) are used to transport heavy-lift objects, which are particularly ideal owing to their huge loading bay and capacity. For airlift, large-volume cargo planes like the Antonov An-225, which can transport up to 250 tonnes of goods, are used. Barges are frequently utilised in inland waters. Special heavy-lift vessels are used for sealift, and they frequently use their separate cranes for loading and unloading goods. Heavy-lift freight transportation is one of the most difficult and complicated logistics services, and it is performed by specialist businesses.
Kobelco Construction, HSC Cranes, Volvo Construction, XCMG Construction, KATO, Terex Corporation, Volkswagen Truck & Bus, Zoomlion, Sany, Tadano Ltd, Liebherr, Cargotec, MANITOWOC, FUWA, Konecranes, CHINA HEAVY LIFT are some of the major participants in the heavy lifting and haulage industry.
These companies have used a range of strategic planning to improve their position in the market. These companies' main growth strategies include expansion, product development, and cooperation in order to improve their product range and geographical presence to address the rising demand for Heavy Lifting And Haulage from emerging nations.
Latest Innovation in the Global Heavy Lifting And Haulage Market: A Snapshot
- The SK210LC-11 and SK210NLC-11 (narrow undercarriage variant) have been added to Kobelco Construction Machines Europe's broad line-up of high-quality construction machinery. In this competitive class, the next-generation SK210(N)LC-11 provides outstanding performance, efficiency, and productivity while adhering to Kobelco's exquisite Performance X Design approach for superb operator-based operability and comfort. In comparison to the previous model, the machine's larger operational weight (21,900-23,500kg) results in enhanced stability and lifting capability.
- SANY Renewable Energy has surpassed all Chinese manufacturers in annual production of onshore wind power, with such a record generation capacity of 3.21 GW, taking another step toward being a world-class brand. SANY Renewable Energy, a manufacturer of wind turbines, has been growing its R&D expenditure, with multiple R&D facilities across the world and the world's first 5G completely linked wind energy intelligent manufacturing facility in China.
Heavy Lifting And Haulage Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 96.11 billion|
|Growth Rate||CAGR of 4.4 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Kobelco Construction, HSC Cranes, Volvo Construction, XCMG Construction, KATO, Terex Corporation, Volkswagen Truck & Bus, Zoomlion, Sany, Tadano Ltd, Liebherr, Cargotec, MANITOWOC, FUWA, Konecranes, CHINA HEAVY LIFT|
Key Segments of the Global Heavy Lifting And Haulage Market
Type Overview, 2019-2029 (USD Billion)
- Mobile/Crawler/Lorry Cranes
- Prime Movers
- Multiple-axles Modular Trailer
Application Overview, 2019-2029 (USD Billion)
- Oil & Gas
- General Industry
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa