Global Lifting Accessory Market to Reach USD2.57B by 2031 at 5.8% CAGR | Valuates Reports
BANGALORE, India, Sept. 15, 2025 /PRNewswire/ -- How Fast is the Lifting Accessory Market Growing Worldwide?
The global market for Lifting Accessory was estimated to be worth USD 1741 Million in 2024 and is forecast to a readjusted size of USD 2570 Million by 2031 with a CAGR of 5.8% during the forecast period 2025-2031.
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What Are the Key Factors Driving the Growth of the Lifting Accessory Market?
- Durability & Versatility of Links & Chains – High-strength, corrosion-resistant chains remain vital in construction, mining, shipping, and manufacturing, enhancing safety, efficiency, and reducing downtime.
- Rising Use of Turnbuckles – Precision tensioning devices (jaw-jaw, hook-hook, eye-eye types) see growing demand across marine, construction, and entertainment industries for secure load stabilization.
- Industrial Applications Driving Growth – Heavy-duty lifting accessories (slings, hoists, clamps) are indispensable in automotive, steel, energy, and chemical sectors, fueled by automation and safety compliance needs.
- Safety Regulations & Compliance – Stringent workplace safety norms push adoption of certified, tested lifting gear, with companies investing in both equipment and personnel training to minimize risks.
- Infrastructure Expansion Projects – Smart cities, transport, and energy projects accelerate demand for scalable, robust lifting solutions to handle diverse loads under strict timelines and safety protocols.
- Automation & Marine Sector Demand – Industry 4.0 automation and offshore operations require precision-engineered, sensor-integrated, and corrosion-resistant accessories, supporting long-term market growth.
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TRENDS INFLUENCING THE GROWTH OF THE LIFTING ACCESSORY MARKET:
Links and chains play a crucial role in the lifting accessory market due to their high strength, flexibility, and compatibility with a wide range of rigging equipment. These components are vital in material handling operations across construction, shipping, mining, and manufacturing industries. Their adaptability to various load sizes and operational environments enhances operational efficiency and safety. Additionally, advancements in corrosion-resistant coatings and heat-treated alloy steels have increased their durability and lifespan, making them a preferred choice in harsh conditions. Industries value these features because they reduce the frequency of replacement and minimize operational downtimes. As industries focus more on safety compliance and efficient lifting solutions, the demand for robust and versatile links and chains continues to elevate the market potential.
Turnbuckles significantly support the lifting accessory market through their pivotal function in tensioning systems, ensuring secure and adjustable connections in rigging and hoisting tasks. These devices allow fine-tuning of tension and length in ropes, cables, and tie rods, making them indispensable in applications requiring precision and control. Their use spans multiple sectors including marine, construction, and entertainment rigging, where stability and balance are essential. The availability of different types such as jaw-jaw, hook-hook, and eye-eye turnbuckles caters to varied operational needs. Their ease of installation, reusability, and compatibility with multiple components make them cost-effective and highly preferred. The growing emphasis on load stabilization and secure anchoring continues to drive adoption of turnbuckles in both traditional and modern industrial setups.
The industrial segment drives the lifting accessory market by demanding high-capacity, reliable equipment for handling heavy materials in production plants, warehouses, and logistics hubs. Industries such as automotive, steel manufacturing, energy, and chemicals rely heavily on lifting accessories to manage large volumes of raw materials and finished goods. This dependency creates a steady need for reliable lifting accessories that ensure safe and efficient operations. Compliance with occupational safety standards further fuels demand for certified lifting components tailored to industrial applications. The need for heavy-duty slings, shackles, hoists, and clamps continues to rise as industries automate and scale up operations. Industrial settings prioritize efficiency, safety, and minimal downtime—key criteria that lifting accessories are engineered to meet, making them indispensable in large-scale environments.
The market is significantly driven by the rising emphasis on workplace safety and accident prevention, especially in high-risk environments like construction, logistics, and manufacturing. Regulatory mandates and industry-specific safety guidelines push organizations to invest in reliable lifting accessories. Safety-compliant gear such as certified chains, hooks, and clamps help minimize risk during lifting operations. Companies seek products that come with safety certifications and undergo rigorous testing. This demand ensures that manufacturers continuously innovate to meet strict safety standards. Businesses are also investing in training personnel in proper lifting techniques, indirectly promoting market growth. As global industrial activities expand, so does the need for lifting solutions that prioritize human safety and equipment integrity, sustaining long-term demand.
Large-scale infrastructure projects in sectors such as transportation, energy, and urban development create significant demand for lifting accessories. Activities like bridge construction, road building, and pipeline installation require lifting heavy components and structures. Lifting accessories become essential for managing diverse loads and achieving precise placement in complex environments. Public and private investments in urbanization and smart cities continue to escalate, thereby increasing the need for robust and scalable lifting solutions. These projects often involve strict timelines and safety protocols, necessitating the use of advanced lifting tools. The scalability, durability, and flexibility of modern lifting accessories allow project teams to optimize workflows, reduce delays, and maintain structural safety during every phase of construction.
The adoption of automated material handling systems in industrial facilities boosts the use of specialized lifting accessories tailored for mechanical and robotic integration. Factories and warehouses increasingly rely on automated cranes, robotic arms, and smart hoists for material movement. These systems require compatible lifting tools such as slings, trolleys, and clamps with precision-engineered performance. The push toward Industry 4.0 and smart factories makes customization and digital monitoring features in accessories more desirable. Integration with sensors for real-time load monitoring also contributes to operational efficiency and safety. As companies invest in automation to improve throughput and reduce human error, the demand for advanced, adaptable lifting accessories aligned with automation systems continues to strengthen the market outlook.
The expansion of marine transportation, offshore drilling, and shipbuilding drives strong demand for lifting accessories capable of withstanding harsh environmental conditions. Marine and offshore operations often involve lifting irregular and heavy loads under extreme pressure, humidity, and corrosive environments. Chains, shackles, and hooks used in such scenarios require superior tensile strength and corrosion resistance. Specialized lifting accessories that meet marine-grade standards become critical for efficient and safe offshore handling. The growth in global trade, exploration of undersea resources, and renewable energy projects like offshore wind farms further enhance this demand. Manufacturers continue to innovate materials and designs that meet the dynamic needs of marine and offshore clients, expanding the product landscape.
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What are the major product types in the Lifting Accessory Market?
- Lifting Hooks
- Shackles
- Turnbuckles
- Swivels
- Links & Chains
What Are the Main Applications of the Lifting Accessory Market?
- Construction
- Logistics and Transportation
- Automotive
- Industrial
- Power & Energy
- Oil & Gas
Key Players in the Lifting Accessory Market
- The Crosby Group – Leading global provider of lifting hooks, shackles, and rigging hardware.
- Columbus McKinnon – Manufacturer of hoists, rigging products, and material handling solutions.
- Pewag Group – Known for high-strength chains and lifting accessories for industrial use.
- Van Beest – Specializes in shackles and rigging components for lifting and hoisting.
- Wurth Group – Supplies fastening and assembly materials, including lifting and rigging solutions.
- Peerless Industrial Group, Inc. – U.S.-based manufacturer of chains, hooks, and lifting assemblies.
- Toho-Rongkee – Provides lifting tools, rigging equipment, and material handling devices.
- Auzac – Supplier of lifting accessories and industrial rigging products.
- William Hackett Lifting Products Ltd. – Focused on hoisting, chains, and lifting gear.
- Gunnebo Industries – Offers lifting components, blocks, and rigging solutions for heavy industries.
- RUD Group – Known for chain systems and lifting points for industrial applications.
- THIELE GmbH – German manufacturer of chains, hooks, and lifting components.
- YOKE INDUSTRIAL CORP – Provides lifting fittings, hooks, and rigging hardware globally.
- Campbell Chain – Specializes in chains, hooks, and attachments for lifting and rigging.
Which region dominates the Lifting accessories market?
In North America, stringent safety standards and high automation levels drive demand for certified, high-performance accessories.
Asia-Pacific shows rapid growth due to infrastructure development, urbanization, and booming manufacturing industries.
Countries in the Middle East invest heavily in construction and oil-related lifting solutions, which is driving their market.
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What are some related markets to the Lifting accessory market?
- Lifting and Rigging Equipment Market
- Nuclear Lifting and Handling Equipment Market was valued at USD 748 Million in the year 2024 and is projected to reach a revised size of USD 1125 Million by 2031, growing at a CAGR of 6.2% during the forecast period.
- Adjustable Lifting Beam Market was valued at USD 544 Million in the year 2024 and is projected to reach a revised size of USD 741 Million by 2031, growing at a CAGR of 4.5% during the forecast period.
- Hydraulic Lifting Column Market was valued at USD 429 Million in the year 2024 and is projected to reach a revised size of USD 707 Million by 2031, growing at a CAGR of 7.5% during the forecast period.
- Wire Rope Clamping Lifting Device Market was valued at USD 1053 Million in the year 2024 and is projected to reach a revised size of USD 1434 Million by 2031, growing at a CAGR of 4.6% during the forecast period.
- Heavy lifting and Haulage Market
- Self-climbing Crane Market was valued at USD 203 Million in the year 2024 and is projected to reach a revised size of USD 2128 Million by 2031, growing at a CAGR of 39.5% during the forecast period.
- Suspension Lift Kits Market was valued at USD 231 Million in the year 2024 and is projected to reach a revised size of USD 293 Million by 2031, growing at a CAGR of 3.5% during the forecast period.
- Hydraulic Vertical Lifting Wedge Market
- Heavy Lifting Chains Market was valued at USD 2532 Million in the year 2024 and is projected to reach a revised size of USD 3449 Million by 2031, growing at a CAGR of 4.6% during the forecast period.
- Lifting Slings Market
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