Rising Demand for Safety and Efficiency to Propel the Global Lifting Accessories Market Beyond USD 970 Million by 2035 | Fact.MR Report

The global market for lifting accessories is anticipated to grow to USD 973.8 million in 2035 from USD 519.3 million in 2024. Over the period of the forecast (2025-2035), the market is expected to grow at a CAGR of 5.9%.

In the course of the next decade, the sector is expected to expand 1.8X with a total dollar opportunity of USD 424.9 million. Such a resurgent growth path indicates a very positive prognosis, offering considerable opportunities for investment, innovation, and strategic growth across major industrial segments.

Lifting accessories are integral pieces of equipment utilized in rigging and material handling operations in order to achieve efficient and safe lifting of loads. Some examples of lifting accessories include shackles, slings, hooks, swivels, spreader beams, eyebolts, and chains.

Highly used throughout various industries such as construction, manufacturing, logistics, and marine, lifting accessories play a crucial function in stabilizing the load, aligning it, as well as ensuring safety standards during hoisting and lifting operations.

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Key Takeaways from Market Study:

The global lifting accessories market is projected to grow significantly, reaching approximately USD 973.8 million by 2035 from USD 519.3 million in 2024, driven by increasing demand across various industries and expanding infrastructure projects worldwide.
The market is expected to register a robust compound annual growth rate (CAGR) of 5.9% between 2025 and 2035, fueled by heightened safety standards, automation, and the proliferation of smart warehousing solutions.
Infrastructure development across transportation, energy, and construction sectors is a major catalyst for market growth, especially in emerging economies where urbanization and industrialization are accelerating.
The growing e-commerce sector is contributing to the rising adoption of lifting accessories in automated warehouses and distribution centers, where efficiency, speed, and safety are critical.
Increasing emphasis on occupational safety and regulatory compliance is prompting industries to invest in certified, reliable lifting solutions that minimize operational hazards and ensure workforce protection.
Technological advancements in lifting accessories, such as the incorporation of high-tensile synthetic fibers and anti-corrosion coatings, are enhancing product durability and load-bearing capabilities.
Smart lifting accessories integrated with RFID tags and IoT sensors are gaining popularity for their ability to offer real-time data on load conditions, usage patterns, and predictive maintenance needs.
North America is currently the largest regional market due to strong industrial infrastructure, a high concentration of end-use industries, and stringent safety regulations, with the U.S. being a key contributor.

Leading Players Driving Innovation in the Lifting Accessories Market:

Columbus McKinnon, Crosby Group, Van Beest, Pewag Group, William Hackett Lifting Products Ltd, GN Rope Fittings, Peerless Industrial Group, Inc

Key Drivers of Market Growth:

The increase in infrastructure development projects globally, particularly in growth economies in Asia Pacific, Latin America, and the Middle East, ranks high among the key growth drivers. Governments and private investors are investing heavily in smart cities, transportation infrastructure, renewable energy, and city development-providing a strong demand pipeline for lifting devices employed in material handling and structural construction.

In addition, the growth of the e-commerce sector and the corresponding demand for sophisticated warehousing and logistics solutions are also fuelling the market further. Lifting accessories are increasingly being implemented in advanced, automated distribution facilities to provide smooth, secure, and ergonomic movement of products.

Technological innovation also plays a crucial role. Technological innovations like RFID-tagged shackles, anti-corrosive coatings, high-tensile synthetic slings, and smart monitoring systems have increased the performance and lifespan of lifting accessories. These developments not only ensure workplace safety but also enable instant data collection and predictive maintenance, cutting downtime and operational risks dramatically.

Regional Insights:

North America is still the lead driver of the worldwide market with its high rate of industrialization facilities, strong OSHA safety requirements, and presence of influential industry players. The U.S. leads, specifically in markets such as aerospace, construction, and oil & gas.

Europe is still a profitable market because of the emphasis in the region on employee safety and regulatory compliance. Germany, the U.K., and France are seeing growing use of technologically advanced lifting equipment in both established and new industries.

Asia Pacific is becoming the fastest-growing region, led by China's and India's manufacturing renaissance, government-supported infrastructure investment, and the spread of logistics and warehousing centers.

Middle East & Africa and Latin America also exhibit encouraging growth patterns, driven by mining activity, oil drilling, and continuous industrialization.

Lifting Accessories Market News:

In November 2024, Crane and Hoist Canada featured Vita Load Navigator, a semi-automated solution for improving stability and safety for loads in lift operations. Recording more than 1,000 data points a second, it monitors and counteracts load motion in real-time, enhancing productivity and minimizing the risks.

In September 2024, The Utility Expo unveiled the Bobcat S7X, the world's first all-electric skid-steer loader. Driven by a lithium-ion battery and using electric drive motors, it eliminates hydraulics, cutting components by 50% and fluid consumption by 96%. The innovation increases efficiency and sustainability in material lifting tasks.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global lifting accessories market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.

The global lifting accessories market is segmented by type, including lifting hooks (shank, eye, swivel, clevis), shackles (dee, round pin, screw pin, bolt type, bow), and various socket types (spelter, swage, wedge, bow). It also includes turnbuckles (jaw-jaw, eye-eye, hook-hook, jaw-eye, hook-eye), swivels (eye-eye, jaw-jaw, jaw-eye), load binders (ratchet, lever), lifting clamps (beam, plate), snatch blocks (with hook or shackle), wire/rope clips (U-type, double saddle), shortening clutches, lifting eyes, and links and chains.

By lifting capacity, the market is categorized into up to 5 tons, 5-10 tons, 10-15 tons, 15-20 tons, 20-30 tons, 30-50 tons, and above 50 tons. The end use sector includes construction, logistics, automotive, industrial, power & energy, oil & gas, and others, with OEM and aftermarket segments for end-use.

The market is spread across regions like North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa.

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