The scissor lift market is likely to exceed a valuation of USD 3 billion by the end of 2026, according to a research report by Global Market Insights Inc. The global scissor lift market is projected to grow at an exponential rate due to the increasing concerns regarding workplace safety and the implementation of strict worker safety laws across the globe. Scissor lifts provide improved safety while lifting heavy loads and workers to big heights due to their integrated safety railings. The increasing need for building maintenance as well as repair activities is forecast to complement the overall market outlook over the coming years.
In addition, technological advancements and new product launches with innovative features for greater convenience and safety would impel scissor lift adoption over the coming timeframe. Taking February 2019 for instance, Genie Lift reportedly launched Genie GS-1330m, its new compact electric scissor lift. This platform offers a lift capacity of over 500 pounds and a working height of approximately 18.8 feet. It is also integrated with Genie Smart Link system for advanced control.
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The trends briefly overviewed below are expected to influence scissor lift market share through 2026:
Increasing use of electric-powered scissor lifts
The increasing demand for high productivity and fuel efficiency, which is offered by electric-powered scissor lifts, is expected to drive the use of electric scissor lifts over the coming years. The product offers maximum cost savings as it effectively eliminates the immense fuel as well as maintenance costs associated with conventional lifts.
In addition, the availability of various electric lift models with a number of different load and platform height capabilities is likely to further add up to the electric scissor lift segment growth, thereby propelling the overall market size.
Growing demand for lifts with above 25 meters height capacities
The above 25 meters platform height segment is anticipated to register remunerative gains over the forthcoming time period due to an increasing demand for the equipment from the construction sector. Expanding commercial sector and the subsequent rise in investments towards the development of high-rise buildings is expected to further complementing the product adoption.
Additionally, owing to their lifting capacities, these platforms are also frequently used to for maintenance activities in high rise buildings, which should further foster the product adoption rate over the coming years.
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Rising construction industry in the Asia Pacific
Rapidly growing construction activities across APAC countries such as Japan, China, and India would augment the Asia Pacific scissor lift market share through the analysis period. Additionally, increasing industrialization across the region is expected to add up to the regional product sales numbers over the forthcoming timeframe. Meanwhile, steadily rising labor costs across China is also projected to boost the adoption of scissor lifts in the country.
Moreover, the limited availability of an effectively skilled workforce and an upsurge in the worker safety demands in India are bolstering the demand for aerial work as well as powered accessed platforms. Furthermore, the developed telecommunication infrastructure across Japan coupled with the strong presence of prominent industry players like Genie, Tadano, Skyjack, Aichi Corporation, and JLG should propel the Asia Pacific scissor lift market share through 2026.
Speaking of industry players, several companies are actively implementing aggressive growth strategies such as acquisition to rapidly expand their regional footprints and consolidate their revenue streams. Taking January 2019 for instance, RIWAL, a renowned telehandler and aerial work platform retail firm, acquired AH-Lift ApS, a Danish construction machine rental service company, to consolidate its market position within Denmark.
The competitive landscape of the global scissor lift market is inclusive of players like Hunan Sinoboom Heavy Industry Co. Ltd., Holland Lift International, Haulotte Group, Dinolift OY, MEC Aerial Work Platform, and Manitou Group among others.
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Chapter 1. Methodology and Scope
1.1. Definitions & forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Scissor lift industry 360° synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Type trends
2.1.3. Platform height trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Scissor Lift Industry Insights
3.1. Industry segmentation
3.2. Impact of COVID-19 on scissor lifts market
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.3. Distribution channel analysis
3.3.4. End-use landscape
3.3.5. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
184.108.40.206. Growing infrastructural investments in North America
220.127.116.11. Increasing demand for technologically advanced scissor lifts in Europe
18.104.22.168. Proliferation of rental equipment services in the Asia Pacific
22.214.171.124. Rising number of infrastructure and utility development projects in Latin America
126.96.36.199. Construction of smart cities in MEA
3.6.2. Industry pitfalls & challenges
188.8.131.52. High initial cost of scissor lifts
184.108.40.206. Lack of skilled operators
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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