Home > Blossary: Asia Pacific to dominate the industrial lifting equipment market between 2018 and 2023
Asia Pacific is expected to dominate the overall industrial lifting equipment market during the forecast period because of the significant growth in construction and manufacturing industries. Asia Pacific is the most lucrative market for cranes and hoists, owing to the significant investment being made for construction activities in the region. The rising need for infrastructure in developing economies such as India and China supplements growth in this region. The region is the leading producer of forklifts across the globe and is expected to retain its position during the forecast period. The growing requirement for warehouses to support hub and spoke models in e-commerce and automotive sectors have led to an increase in the number of warehouses in Asia. Furthermore, the government’s support and rising emphasis on workers’ safety have increase the adoption of aerial work platforms in China. https://www.marketsandmarkets.com/Market-Reports/industrial-lifting-equipment-market-60833115.html

Category: Engineering

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