Platform Lifts Market Overview
Platform lifts market are primarily designed to give reasonably priced access to people who have difficulty with a staircase. These platform lift are available in the market with different size and shape according to the application.
Platform lifts are installed in low rise buildings where passenger lifts are not available. Each platform lifts has different advantage depending on the installed area and the functionality of the lift in the needed area. Platform lifts are used in both indoor and outdoor application in residential and commercial buildings.
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Segmentation of platform lifts is based on the installation platform such as vertical, inclined and portable platform; inclined platform lift has impeccable accessibility options in buildings with space constraints. Furthermore, vertical platform lift ensure safety and secure access in vertical direction, however portable platform lifts are simple and easy to use accessibility options.
Platform lifts provide access to different levels such as transporting injured people, moving goods and merchandise, equipment and people that need medical attention amongst others. Platform lifts are able to carry lot of weight while retaining its speed and safety with high efficiency. Platform lift does not require a lot of space and is easily accommodable in less than 2 sq. feet of space.
The compact nature of platform lift makes them suitable to be installed in low space areas. Platform e lifts are mainly operated through three mechanisms: guided chain driven, hydraulic driven, and screw driven. All of these mechanisms do not pose any risk to the user and are safe to use. Platform lifts market offers substantial growth opportunities for the new entrants and existing players in the market.
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Platform Lifts Market: Market Dynamics
Consumer inclination towards leisure facilities has increased substantially in the last few years due to high growth in the disposable incomes in the developed as well as in the developing countries. The recent trend observed in the platform lifts market is that the better customers are treated the more they tend to spend and there are higher chances of their return.
Therefore, global retailers are focusing more on enhancing the customer experience in their stores. The global population of 60 years and older people is expected to witness very high growth and is expected to nearly double from 12% in 2015 to 22% in 2050. This will also accelerate the demand for platform lifts in the global market.
Government authorities all over the world are also focusing to uplift the community of disable peoples. According to Disability Discrimination Act 1995, it is mandatory for every cinema, museum, restaurant, hotel, and other leisure facilities to have easier access in every area for people with walking difficulties and who are using wheelchairs. Such rules and regulation will also contribute to upsurge the demand for platform lifts.
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Platform Lifts Market: Regional outlook
North America is expected to remain platform lifts market frontrunner over the forecast period. High installment of platform lifts in residential and commercial building in U.S. and Canada is expected to deliver high growth for the platform lifts market.
Europe platform lifts market is estimated to gain high traction as government in European countries raise new standards for the safety requirement of the platform lift. The factors such as increasing purchasing power of people, developing infrastructure, and improved consumer sentiments are altogether driving the quality of living people, which in turn, increases the demand for platform lifts.
Large number of platform lift manufacturers are setting up their manufacturing units across the India and China, and this is expected to upsurge the demand for platform lifts on domestic level.
Manufacturers in Japan are focusing on product innovation to develop new and advanced products and advancement of manufacturing techniques to cater to the demand from respective end customers. Latin America and Middle East is also expected to deliver positive growth in platform lifts market, over the forecast period.
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Platform Lifts Market: Key Market Players
Examples of some of the market participants in the global platform lifts market identified across the value chain include
Dover Corporation
Express Lift
Fujitec Co. Ltd.
HyundaiElevator
Mitsubishi Electric
SchindlerElectric
Otis Elevator
Kone Motala
ThyssenKrupp
The platform lifts research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The platform lifts research report provides analysis and information according to market segments such as geographies, application, and industry.
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