[192 Pages Report] Global scissor lifts market to grow at 3.5% CAGR through 2030. Scissor lift is an access equipment which falls under the category of aerial work platforms and is used for safe and efficient elevated material handling across various industries.
Global scissor lifts market is undergoing a massive transformation with a shift from the mature and saturated markets such as North America and Western Europe to the emerging economies such as China, ASEAN, and other South East Asia & Pacific countries. A key factor supporting this expansion is the surging construction activities across developing countries.
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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors fuelling the demand for scissor lifts. The report tracks the global sales of scissor lifts in 20+ high-growth markets, along with analysing the impact COVID-19 has had on the end-use industry and scissor lifts in particular.
With rental companies playing a pivotal role in the scissor lifts market, organisation in the rental industry are expected to focus on expanding their network across developing countries, creating new growth prospects for manufacturers.
While the growth projections for scissor lifts market remaining strong, the ongoing COVID-19 pandemic crisis is expected to cause a minor strain in demand. Disruptions witnessed in manufacturing units and supply chain networks because of shutdowns in several countries are expected to affect the consumption of Scissor Lifts. However, the market is expected to recover in year 2021.
The market will especially gain from the rising demand from AWP rental service providers. FMI has projected the segment to account for over 80% of the demand recorded in the market through the forecast period. Also, increasing application in manufacturing, construction, commercial, and other sectors will continue aiding growth.
Key Takeaways from Scissor Lifts Market Study
- Scissor lift market will expand at a steady pace, exhibiting 3.5% CAGR between 2021 and 2031
- The U.S. is expected to account for over 40% sales of scissor lifts
- U.K. will remain the key market in Western Europe
- Germany and France will continue exhibiting high demand backed by rising construction activities
- Sales in Japan and South Korea to increase at a positive pace
“Besides keeping long-term alliance with their key buyers, companies are offering training courses for operators and focusing on expanding their product range by including electric, hybrid or bi-energy scissor lifts to cater the growing demand for aerial work platforms across the world” said a lead FMI analyst
What’s the Future Outlook?
Growing shift towards hybrid lift development which helps rental fleet owners to leverage the flexibility of scissor lift performance for higher utilisation and longer term rentals will be remain as a prominent force in shaping the scissor lifts market.
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Scissor Lifts Market Key Segments
Platform Height
- Up to 30′,
- 30′ – 50′,
- Over 50′,
Ownership
- AWP Rental Service Providers,
- End-Use Industries
- Construction
- Entertainment
- Commercial
- Manufacturing
- Others
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- SEA
- MEA
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Who is winning?
Some of the leading companies operating in the scissor lifts market are Terex Corporation (Genie), JLG Industries, Inc., Linamar Corporation (Skyjack), Snorkel International, Haulotte Group, and Zhejiang Dingli Machinery Co, Ltd. These companies are incorporating new environmental-conscious technologies. Along with this, they are fine-tuning their expansion strategies to gain competitive edge.
For instance, Haulotte announced launching two new mobile elevating work platforms that have fully electric architecture to offer excellent performance, while reinforcing direction taken by the company towards environmentally friendly alternative energies.