According to a recent survey published by FMI, the global Construction Lifts market is expected to grow at a healthy CAGR during the forecast period between 2018 and 2028. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Construction Lifts over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Construction Lifts Market
The industrial sector is undergoing a change as firms throughout the world place a strong emphasis on implementing modern automation. This is known as Industry 4.0.
With the advent of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. In the Construction Lifts industry, this is anticipated to open up significant potential opportunities.
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Additionally, increasing government emphasis building a better manufacturing sector and integration of augmented and virtual reality using smart equipment to enhance the output is estimated to propel the demand in the market for coming years.
Key Construction Lifts Market Takeaways and Projections
- The U.S. is estimated dominate the Construction Lifts market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2018 and 2028
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Construction Lifts Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Construction Lifts Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Construction Lifts As per the survey, Construction Lifts sales will project steady growth over the forecast period.
- Construction Lifts Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Construction Lifts.
- Construction Lifts Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
Expanding Product Portfolio to Be the On-Going Strategy of Construction Lifts Market Players
Growing number of investments are made by manufacturers in construction lifts market with burgeoning number of residential and commercial high-rise projects. Several manufacturers are also engaging themselves in small-scale projects that results from residential development results, which in turn leads to introduction of affordable solutions for SMEs (small and medium-sized enterprises, developers and smaller construction companies.
Alimak Group AB:The construction lifts market player has received an order for explosion-proof elevator from EPC Company Aibel in Norway. Equinor’s Johan Sverdrup requires this elevator for its Phase II project and the order value is expected to be nearly MSEK 27. The explosion-proof elevator as well as lift shaft will be beneficial for transportation of goods and personnel in process area on platform. The delivery of this equipment is expected by end of 2019. With increasing number of projects, Alimak Group AB is likely to increase the demand and supply of construction lifts, thereby boosting the revenue sales of global market.
Böcker Maschinenwerke GmbH:The construction lifts market player has developed over 10,000 construction lifts, thereby increasing exports and expanding product portfolio for including lifts for the furniture transport purposes. By introducing aluminium crane technology, the company has been setting milestones for future years. The company has been constantly setting new standards for lifting and crane technology. This in turn, is expected to significantly benefit construction lifts market on a major basis.
CABR Construction Machinery Technology Co., Ltd:The construction lifts market player lately developed optimally designed new type of gantry mini hoist which is inclusive of gears, drive devices, winding devices, wire ropes and pulleys. With the development of this new product, growing customer needs for economic efficiency and design quality has been significantly improved. These efforts by the company is expected to benefit the global market in the long run with revenue growth.
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Segmentation:
Based on end-use:
- Infrastructure
- Non Residential
- Residential
Based on product type:
- Work Platform
- Material Hoists
- Construction Hoists
Geographical Landscape in Construction Lifts Market Has Been Analyzed Broadly Based On
- North America construction lifts market including (Canada and U.S.)
- Latin America construction lifts market including (Brazil and Mexico)
- Eastern Europe construction lifts market including (Russia and Poland)
- Western Europe construction lifts market including (Spain, U.K., France, Italy and Germany)
- Asia Pacific construction lifts market including (New Zealand, Australia, ASEAN, India and China)
- Japan construction lifts market
- Middle East and Africa construction lifts market including (North Africa, South Africa and GCC Countries)
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