According to the new research report published by The Insight Partners, titled “Scissor Lift Market - Global Analysis and Forecast to 2025”, the global scissor lift market is expected to reach US$ 3,682.1 million in 2025, registering a CAGR of 4.3% during the forecast period 2018-2025.
In 2017, Europe accounted for the largest revenue share of more than one-third of the total market share, followed by Asia-Pacific.
The growth in the Europe region is highly attributed to the increasing construction activates and adoption of safety measures in European countries.
The scissor lift market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. One of the major reason for surged adoption of scissor lift is the rapidly increasing investment in construction and infrastructural development. The world is known to witness a dramatic increase in its urban population creating pressure on the construction industries to come up with a robust plan of action. Owing to this pressure the construction machinery manufacturers are encouraged to focus upon the development and updation of their present product lines. In the coming years, scissor lifts are projected to perform various tasks that comply with the forthcoming demands of the end users. These changes comprise of enhanced safety and maximizing capacity. The Scissor lifts are inherently safer and more practical than ladders. Also, these machine/equipment are considered as much more economical than various other powered lifting equipment, and thus they are among the frequently invested machinery in industries, especially construction and manufacturing. While investing in scissor lifts, there are myriad aspects that the investor looks upon. Safety, productivity, and efficiency are some of the critical elements of them.
The global scissor lift market has been segmented based on movement type, i.e., mobile scissor lift and fixed scissor lift. The mobile scissor lifts have widely gained popularity owing to their ability to accommodating the flexible production lines. Further, the mobile lifts are demanded more in the applications involving mobility within the space and transportation of loads where the assembly lines are required to be frequently reconfigured.
Key findings of the study:
Europe is anticipated to account the largest market share of the scissor lift market and is expected to register a CAGR of 4.3%
Based on the movement type, the mobile scissor lift segment is expected to witness high year on year growth during the forecast period
Countries such as China, Brazil, and India are witnessing high demand for scissor lift due to the increasing construction activities and government projects.
Asia-Pacific holds the second largest market share. The large role played by the governments of different countries based in the APAC region for supporting the infrastructure development is positively impacting the market. Further, the Building and Construction Authority (BCA) of Singapore expects that the construction projects in Singapore during the year 2018 has reached around US$ 26.31 Bn. The constant development and rising need for housing in the region are further expected to influence the scissor lift equipment market during the forecast period.
The key companies profiled in this report include Terex Corporation, JLG Industries, Aichi Corporation, Haulotte Group, Linamar Corporation, MEC Aerial Work Platforms, Galmon (S) Pte Ltd, Wiese USA, EdmoLift AB, and Advance Lifts, Inc.
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