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The vaccum lifter market size is forecast to increase by USD 93.1 billion, at a CAGR of 8.14% between 2023 and 2028. Market growth is influenced by several key factors: the increasing global construction activities, widespread adoption of technology in developing nations, and rising demand for glazing and solar power solutions. These elements collectively drive expansion across the construction and renewable energy sectors. The growth in global construction activities reflects urbanization trends and infrastructure development, driving demand for building materials, including glazing for architectural aesthetics and energy efficiency. Simultaneously, the adoption of technology in developing countries enhances productivity and operational efficiency, accelerating market growth across various industries. Additionally, the growing demand for glazing and solar power solutions underscores a shift towards sustainable building practices and renewable energy integration, driven by environmental regulations and consumer preferences for energy-efficient solutions. These trends highlight opportunities for innovation and investment in technologies that support sustainable development and address global energy challenges. As industries align with these evolving dynamics, strategic initiatives in technology adoption and sustainable practices will shape future market landscapes. Our market growth analysis report examines historic data from 2018 - 2022, besides analyzing the current and forecasts market scenario.
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The market serves industries dealing with industrial products susceptible to surface and edge damage during transportation and manhandling. These lifters are crucial in handling diverse materials such as stone, plastics, and timber, offering solutions like Heavy Duty Lifters, Light Duty Lifters, and Multiple Vacuum Pad Lifters tailored to specific load capacities and configuration. Utilizing vacuum-based technology, these systems incorporate suction-producing vacuum pumps and suction cups or pads to securely lift and maneuver fragile items in warehouse and logistical situations. They enhance workplace safety and efficiency in the logistics and warehousing sectors, automating tasks previously prone to human error. Industrial supplies benefit from the reliability and precision of vacuum lifting systems, meeting stringent weight requirements while minimizing the risk of damage, thus optimizing operations in various industrial and commercial environments.
Growing construction activities globally is the key factor driving the growth of the market. Vacuum lifters are used at development sites to handle and develop building materials such as concrete slabs, columns, sheet metal, ducts, and glass. Therefore, the engineering sector is one of the largest end-users of vacuum lift equipment and is expected to be the major driver of the global vacuum lift market during the forecast period. The global construction sector witnessed a sharp decline after the housing market crashed in the US in 2008.
However, the market has shown substantial growth in several high-value markets, such as the US, Australia, and India, over the past few years. Although many countries worldwide suffered a decline in construction activities due to the slowdown in the economy over the past five years, the long-suppressed demand for single and multi-family housing is expected to propel the growth of the market during the forecast period.
Increased commercial construction is the primary trend shaping the market growth. Rapid urbanization and economic growth have led to an increase in the construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities. The expansion of commercial spaces and the demand for new office space, special economic zones (SEZs), corporate hubs, and retail outlets have been driving the demand for construction tools such as vacuum lifters. Infrastructure activities across emerging economies such as India have improved. Efficient and faster transit systems, such as metro rail networks, are being constructed in cities such as Lucknow, Jaipur, Bangalore, and Hyderabad. These projects are expected to create a demand for construction equipment such as vacuum lifters.
The construction of SEZs is also generating demand for vacuum lifters in the country. The commercial sector has witnessed growth in terms of the increasing number of office buildings. Such developments across the global commercial sector are expected to boost the construction sector, creating demand for construction equipment such as vacuum lifters. Thus, the market is expected to grow during the forecast period.
The sluggish growth of the automotive industry is a major challenge impeding the growth of the market. Vacuum lifters are used at development sites to handle and develop building materials such as concrete slabs, columns, sheet metal, ducts, and glass. Therefore, the engineering sector is one of the largest end-users of vacuum lift equipment and is expected to be the major driver of the global vacuum lift market during the forecast period. The increase in vehicle emission regulations and the adoption of newer standards are expected to hamper the demand for new cars during the forecast period.
For example, in 2021, the Government of India enforced compliance with Bharat Stage-IV and BS-VI (BS-IV) emission standards. The government has further planned to enforce the BS-VI standard from 2017 and BS-6 from 2020, entirely skipping the fifth standard. This is expected to affect the automotive demand in the country, as many people will plan to buy vehicles after new regulations come into effect. It is expected that the depressed economy and negative growth in demand for automotive vehicles in these countries may hamper the growth of the market.
The industrial manufacturing segment will account for a major share of the market's growth during the forecast period. These industries extensively utilize vacuum lifting machines and equipment for efficient material handling during the manufacturing, processing, and warehousing stages. The use of vacuum lifters is prominent, especially in the glass and glass processing industry, as other handling methods can scratch or damage glass sheets or flat glass panels.
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The industrial manufacturing segment was valued at USD 57.00 billion in 2018. Vacuum lifters are also used in the wood and wood processing industry for handling lumber and wooden furniture. Advanced vacuum lifters can lift curved and rough surface materials, such as lumber and wooden planks. Vacuum lifters are extensively used in processing lines for wood and wood products, including wood machining centers and door manufacturing. The growth in global construction activities during the next five years, especially in the US and countries in the Middle East, is expected to boost the demand for vacuum lifters from the wood and wood processing segment.
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APAC is estimated to contribute 43% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The existence of several rapidly developing countries in the region, coupled with the presence of the majority of global manufacturing industries and consumers, makes APAC the highest potential market for vacuum lifters. Other than a few developed countries in the region, including Japan, Australia, and South Korea, most countries are still developing. The economic development in these countries is backed by heavy urbanization and industrialization. The migration of a large section of the population from rural areas to urban areas, owing to the rise in secondary and tertiary sector jobs, is expected to drive the residential and infrastructure segment. This trend, in turn, is expected to drive the demand for vacuum lifters in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on key companies, including:
Aardwolf Industries LLC, ACIMEX, All Vac Industries, ANVER Corp., Fertema Oy, GGR Group, Hird Ltd., J. Schmalz GmbH, Kilner Vacuumation Co. Ltd., Manut LM, Movomech AB, Piab AB, Qingdao Sinofirst Machinery Co. Ltd., Righetti S.R.L., The Caldwell Group Inc., UniMove LLC, ViaVac B.V., Woods Powr Grip Co. Inc., and X Team Equipments Pvt. Ltd.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market caters extensively to various industries such as oil and gas, manufacturing systems, construction, and precision products, offering solutions for handling materials with specific lifting capacities and challenges related to spherical and curved surfaces. These lifters utilize suction pressures and Standard Suction Pads to securely manage items like laminate, steel strips, and flooring in green buildings and other infrastructure projects. Advancements in automation and robotic systems have enabled the development of sophisticated tools like Articulating Arm Lifters and Customizable End Effectors, including specialized equipment such as Solar Panel Lifters and Aerolift units. These devices integrate smart technology and ergonomic features to enhance operational efficiency while prioritizing worker safety and ergonomic factors. They contribute to cost-effective manufacturing processes and environmentally friendly designs, addressing challenges such as labor market dynamics and supply chain disruptions through advanced technological developments and stringent safety regulations. External sources play a crucial role in the customization of attachments for advanced equipment used in oil and gas, precision products, and infrastructure and construction industries, facilitating the automation and development of green buildings with enhanced load capacity.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.14% |
Market growth 2024-2028 |
USD 93.1 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.35 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key countries |
China, US, Germany, Japan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aardwolf Industries LLC, ACIMEX, All Vac Industries, ANVER Corp., Burgess Manufacturing Co., Fertema Oy, GGR Group, Hird Ltd., J. Schmalz GmbH, Kilner Vacuumation Co. Ltd., Manut LM, Movomech AB, Piab AB, Qingdao Sinofirst Machinery Co. Ltd., Righetti S.R.L., The Caldwell Group Inc., UniMove LLC, ViaVac B.V., Woods Powr Grip Co. Inc., and X Team Equipments Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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