Scissor Lift Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Scissor Lift Market covers analysis by Product Type (Hydraulic, Mechanical, and Pneumatic); Movement Type (Mobile and Fixed); Industry (Construction, Manufacturing and Warehouse, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Sep 2023

  • Report Code : TIPAT100001348
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • No. of Pages : 224
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The scissor lift market size is expected to grow from US$ 3.56 billion in 2022 to US$ 4.37 billion by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028.

In the coming years, new American National Standards Institute (ANSI) standards are expected to get implemented, which will affect North American products, specifically scissor and mast lifts positively. This means an increase in weight and decreased personnel rating on most machines would be foreseen. These changes are expected to take place owing to more stringent testing under the new ANSI 92.20 guidelines for manufacturers. Therefore, technical advances coming to scissor lifts soon would include active load sensing systems. The load sensing devices on Mobile Elevated Work Platform (MEWPs) will disable the normal elevating functions of the machine and sound/flash an alarm when the MEWP is overloaded. This adjustment to North American equipment comes on the cusp of incoming ANSI standards, but this specific adjustment has been active in international markets for nearly a decade. Changes in guidelines of the machineries are projected to contribute towards the scissor lift market growth.

Globally, scissor lifts are evolving due to changes in the technology used for the functioning of scissor lifts. For instance, Sinoboom has rolled out its electric-drive scissor series. The company’s models range from 4 m to 14 m platform height and are developed to fulfill market demands for energy-efficient and environment-friendly machines. The rising inclination toward environmentally friendly and energy-efficient platforms (both electric and hybrid) is projected to drive the scissor lift market.

Strategic Insights

Regional Analysis of Scissor Lift Market 

From the regional perspective, North America holds the third-largest scissor lift market share in 2022. The manufacturing industry plays a vital role in the economy of North America. The region comprises developed nations such as the US and Canada and developing countries such as Mexico.

North America is a hub of technological developments that compliances with economically robust countries. As a result, the manufacturing industry in North America pertains to evolve and remain the principal factor for driving prosperity, jobs, and innovation. With the increasing customer demand for high-quality products and services, companies are on a constant hunt for innovations to serve their customers in the best possible way. Supply chain management is one of the important activities for companies to make available their products to the end consumer, and a strategically managed supply chain helps the companies to reach out to the customer, incurring less costs and in lesser time. The end-user industries of storage solutions in the US demand efficient warehouses where they can store their products.

In February 2020, LiuGong North America introduced four new scissor lifts in the North America market, consisting of two models launched at American Rental Association show in Orlando (the US). The initial entries were the LSC0607DE with a 10-meter platform height and the 5.8-meter platform height LSC1012DE. The company will also start providing MEWPs to the European and Asia Pacific markets in the near future.

Lucrative Regions – Scissor Lift Market Share

Lucrative Regions – Scissor Lift Market Share

Market Insights – Scissor Lift Market

Movement Type-Based Insights

Based on movement type, the scissor lift market size is segmented into mobile and fixed. In 2022, the mobile segment held a larger scissor lift market share. Mobile scissor lifts have widely gained popularity owing to their ability to accommodate flexible production lines. Further, mobile lifts are demanded more in applications involving mobility within the space and transportation of loads where the assembly lines are required to be frequently reconfigured. However, compared to the fixed or stationary lifts, the mobile lift has certain restraints, including the inability to lower collapse (up to 10 inches) and the lack of stability that requires placing the loads appropriately to maintain balance during mobility. Further, the mobile scissor lifts are designed to be more robust, especially the base frame and wheels, since they need to be able to bear heavy loads.

The demand for scissor lifts is increasing at an exponential rate. Apart from wide-ranging updates to fulfill and exceed new US ANSI standards, an upward trend has been witnessed toward using electric rough terrain equipment and micro scissors. Adoption of electric rough terrain equipment and micro scissors are replacing podiums and ladders across the plants and warehouses. This factor will help in boosting the adoption trend of scissor lifts globally and thereby propelling the entire scissor lift market growth.

The scissor lift market players mainly focuses on developing advanced and efficient products.

  • In October 2022, Genie rolled out their new Lithium-Ion battery option for a GS E-Drive slab scissor lift, owing to the rising demand for quieter, cleaner, and low-maintenance equipment that can withstand the rigors of construction job locations.
  • In November 2022, CanLift Equipment Ltd. declared its product line expansion by introducing two new rough terrain scissor lifts from the leading heavy equipment manufacturing company, XCMG (XCMG is a partner of CanLift Equipment Ltd.) CanLift will have the XCMG XG4390RT and XG5390RT scissor lifts available for sale and rent immediately.

The scissor lift market size is segmented into five major regions North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, Europe led the market with a substantial revenue share, followed by APAC, whereas MEA is expected to register the highest CAGR in the scissor lift market from 2022 to 2028.

Terex Corporation; JLG Industries; Aichi Corporation; Haulotte Group; Linamar Corporation; MEC Aerial Work Platforms; GALMON (S) Pte Ltd.; Wese USA; Edmolift AB; and Advance Lifts, Inc. are among the key scissor lift market players. The market report provides detailed market insights, which help the key players strategize growth in coming years.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Movement Type, Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. Terex Corporation2. JLG industries3. Aichi Corporation4. Haulotte Group5. Linamar Corporation6. MEC Aerial Work Platforms7. Galmon (S) PTE. Ltd.8. Wiese, Inc9. Edmolift AB10. Advance Lifts Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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