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I’ve known people in this situation. There could be several factors:
Some people are excellent at their job, promotion to a lead position may result in loss of good operational skills. You may be difficult to replace
It could be workplace discrimination. For instance women over 45, men over 55, or people from a culture different than leadership often get stuck where they are.
It could be a skill mismatch, like a promotion may require a lot more communication skills, if you’re in a tech position this could be a factor.
It could be a budget issue. This is very often the case.
In any case, explain that you are interested in the next higher role, why you want that role, and ask what are the expectations for promotion. Start working as if you’re in that higher level position. Then if denied promotion again, stop doing the things you used to do.
There are ways to leverage your expertise without angering people.
How long have you been in the role?