Heavy Lifting & Haulage Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 276.74 Billion |
| Market Size (2029) | USD 361.32 Billion |
| CAGR (2024 - 2029) | 5.17 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Heavy Lifting & Haulage Market Analysis
The Heavy Lifting & Haulage Market size is estimated at USD 276.74 billion in 2024, and is expected to reach USD 361.32 billion by 2029, growing at a CAGR of 5.17% during the forecast period (2024-2029).
- The heavy lifting and haulage market is set for significant expansion, fueled by a surge in infrastructure projects worldwide. As urbanization and industrialization intensify, the demand for transporting heavy machinery and equipment escalates. Technological advancements have enhanced the efficiency and safety of heavy-lifting operations and enticed new entrants to the sector. Additionally, the rising adoption of modular construction techniques is amplifying the need for specialized lifting and hauling services. Consequently, the market is poised for rapid growth in the coming years, offering lucrative opportunities for key players.
- Several factors are propelling the growth of the heavy-lifting and haulage market. Firstly, the uptick in regional construction and infrastructure projects necessitates efficient heavy equipment movement, driving the demand for lifting and haulage services. Secondly, technological advancements, including automation and Internet of Things integration in lifting equipment, are bolstering safety standards and operational efficiency, further fueling market growth. Moreover, the increasing adoption of modular construction methods is boosting the demand for specialized lifting solutions. Additionally, as businesses face stricter workplace safety regulations, investments in advanced lifting and hauling machinery are becoming imperative, setting the stage for continued market expansion.
Heavy Lifting & Haulage Market Trends
Increased Demand From Energy and Power Segment
- Renewable energy construction projects, encompassing wind farms, solar installations, hydropower facilities, and biomass plants, drive a surge in demand for heavy lifting and haulage services. Specialized haulage services are essential given their often remote or challenging locations—think offshore wind farms or mountainous hydropower sites. These services not only navigate tough terrains but also ensure the timely delivery of crucial components to the project sites.
- In June 2024, Maersk, known for its integrated logistics for conventional products, expanded its offerings. Under its Maersk Project Logistics (MPL) arm, it now caters to out-of-gauge and special cargo shipments. Maersk's recent collaboration with Vestas, a prominent Danish renewable energy firm, is a testament to its prowess in heavy lifting. Vestas, renowned for its global renewable energy solutions, entrusted Maersk with a pivotal task: transporting the hefty powertrains for its record-breaking V236 wind turbine.
- Weighing a staggering 260 tons, this powertrain, a centerpiece of the 15 MW turbine, is being ferried from Vestas' Lindø factory in Denmark. Maersk's journey starts from the assembly site in Lommel, Belgium, traversing through Antwerp and culminating at Lindø's port. The powertrain, a significant part of the nacelle, contributes to the V236's hefty weight, exceeding 630 tons.
- On a broader scale, several nations, including China, are setting ambitious targets to bolster their renewable energy capacities. China, in particular, has emerged as a global frontrunner in renewable energy, channeling substantial investments into the sector. China and the United States, already leading the global renewable energy consumption charts, continue to witness a steady uptick in their usage, creating opportunities in the global markets.
Asia-Pacific is Poised to Gain Significant Momentum
- The heavy lifting and haulage services market in Asia-Pacific is experiencing notable growth. Countries such as China, India, and various Southeast Asian nations are witnessing rapid urbanization and industrialization, increasing demand for these services. This surge in demand is primarily attributed to the transportation needs of infrastructure projects spanning highways, bridges, railways, and ports.
- The Asia-Pacific construction industry is on a robust trajectory, propelled by a surge in residential, commercial, and industrial projects. This surge necessitates specialized transportation for heavy machinery, building materials, and prefabricated components. Industry experts note that as Asia-Pacific aligns itself with the developed economies of the West, its economic growth accelerates. Projections indicate that by 2026, the market for construction and heavy equipment in the region could reach approximately USD 65 billion.
- Furthermore, the region's increasing investments in renewable energy, particularly in wind, solar, and hydropower projects, are bolstering the demand for heavy lifting services. These services are crucial for transporting and installing large turbines, solar panels, and hydroelectric equipment.
- Given the ongoing infrastructure development, urbanization, and industrial expansion, the Asia-Pacific heavy lifting and haulage services market is set for sustained growth. Moreover, the region's emphasis on renewable energy and sustainable practices is expected to boost the demand for specialized transport services further.
Heavy Lifting & Haulage Industry Overview
The heavy lifting and haulage market is highly fragmented, with many global and local players catering to the growing demand. Terex Corporation, Liebherr, and Sarens are some of the major players in the market.
Adopting advanced technologies such as GPS tracking, telematics, and automatons in heavy lifting and haulage operations gives a competitive edge in terms of efficiency, safety, and cost-effectiveness.
Heavy Lifting & Haulage Market Leaders
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Terex Corporation
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Liebherr
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Kobelco Construction
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Sarens
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Mammoet
*Disclaimer: Major Players sorted in no particular order
Heavy Lifting & Haulage Market News
- July 2024: Liebherr and Fortescue partnered to develop an Autonomous Haulage Solution. Currently, they are validating a fleet of four T 264 autonomous trucks alongside the AHS at a dedicated facility in Fortescue's Christmas Creek mine. The AHS ecosystem will encompass creating and validating a fleet management system and a machine guidance solution.
- June 2024: In Italy, Terex Rough Terrain Cranes unveiled its latest offering, the TRT 80 l, boasting an impressive 80-tonne lifting capacity. Terex emphasizes its lifting prowess and transport convenience, which are standout features of this new two-axle model. With a width of 3 m, the TRT 80 l is well-suited for navigating tight spaces and busy job sites. Enhancing its setup efficiency, the crane features a self-mounting counterweight, ensuring quicker assembly and disassembly. With four steering modes, maneuvering and setup become more manageable. Once in place, the TRT 90 l can fully utilize its 47-m telescopic boom, complemented by jib options of 9 and 17 m. With its blend of advanced features and user-centric design, the TRT 80 l stands out as a valuable addition to any fleet.
Heavy Lifting & Haulage Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption
1.2 Market Definition
1.3 Scope of the Study
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Infrastructure growth drives demand for heavy lift and haulage services
4.2.1.2 Industrial Growth Spurs Demand for Heavy Lift and Haulage Services
4.2.2 Restraints
4.2.2.1 High Costs
4.2.2.2 Skilled Labor Shortage
4.2.3 Opportunities
4.2.3.1 Growth in the Renewable Energy Projects
4.2.3.2 Public-Private partnerships
4.2.3.3 Technology Integration
4.3 Supply Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes Products and Services
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of Geopolitics and Pandemics on the Market
5. MARKET SEGMENTATION
5.1 By End User
5.1.1 Oil and Gas
5.1.2 Mining and Quarrying
5.1.3 Energy and Power
5.1.4 Construction
5.1.5 Manufacturing
5.1.6 Other End Users
5.2 By Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Spain
5.2.2.5 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 India
5.2.3.3 Japan
5.2.3.4 Singapore
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Mexico
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 United Arab Emirates
5.2.5.3 South Africa
5.2.5.4 Egypt
5.2.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration
6.2 Company profiles
6.2.1 Terex Corporation
6.2.2 Liebherr
6.2.3 Kobelco Construction
6.2.4 Sarens
6.2.5 Mammoet
6.2.6 Global Rigging & Transport
6.2.7 HSC Cranes
6.2.8 Volvo Constructioon
6.2.9 XCMG Construction
6.2.10 KATO
6.2.11 Konecranes*
- *List Not Exhaustive
6.3 Other companies
7. FUTURE OF THE MARKET
8. APPENDIX
8.1 GDP Distribution, by Activity - Key Countries
8.2 Insights into Capital Flows - Key Countries
8.3 Economic Statistics - Transport and Storage Sector, and Contribution to Economy (Key Countries)
8.4 List of Major Global Projects (Oil and Gas, Construction, Infrastructure Development, Etc.)
8.5 Freight Statistics (Mode, Product Category, Etc.)
Heavy Lifting & Haulage Industry Segmentation
The heavy lifting and haulage industry, a niche within transportation and logistics, specializes in moving oversized, overweight, and challenging-to-handle goods and equipment. It relies on specialized vehicles, equipment, and expertise to transport these heavy loads safely and efficiently, often over long distances and occasionally across international borders.
The heavy lifting and haulage market is segmented by end user (oil and gas, mining and quarrying energy and power, construction, manufacturing, and other end users) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers heavy lifting and haulage market sizes and forecasts in value (USD) for all the above segments.
| By End User | |
| Oil and Gas | |
| Mining and Quarrying | |
| Energy and Power | |
| Construction | |
| Manufacturing | |
| Other End Users |
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Heavy Lifting & Haulage Market Research FAQs
How big is the Heavy Lifting & Haulage Market?
The Heavy Lifting & Haulage Market size is expected to reach USD 276.74 billion in 2024 and grow at a CAGR of 5.17% to reach USD 361.32 billion by 2029.
What is the current Heavy Lifting & Haulage Market size?
In 2024, the Heavy Lifting & Haulage Market size is expected to reach USD 276.74 billion.
Who are the key players in Heavy Lifting & Haulage Market?
Terex Corporation, Liebherr, Kobelco Construction, Sarens and Mammoet are the major companies operating in the Heavy Lifting & Haulage Market.
Which is the fastest growing region in Heavy Lifting & Haulage Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Heavy Lifting & Haulage Market?
In 2024, the North America accounts for the largest market share in Heavy Lifting & Haulage Market.
What years does this Heavy Lifting & Haulage Market cover, and what was the market size in 2023?
In 2023, the Heavy Lifting & Haulage Market size was estimated at USD 262.43 billion. The report covers the Heavy Lifting & Haulage Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Heavy Lifting & Haulage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Heavy Lifting & Haulage Industry Report
Statistics for the 2024 Heavy Lifting & Haulage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Heavy Lifting & Haulage analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
