USD 3.03 billion
Global Scissor Lift Market Size, Share, Growth Analysis, By Type(Electric Scissor Lifts, Engine-powered Scissor Lifts), By End-User(Construction, Retail) - Industry Forecast 2023-2030
Report ID:
SQSG20B2001 |
Region:
Global |
Published Date: February, 2024
Pages:
265
|
Tables:
66 |
Figures:
66
Global Scissor Lift Market Insights
Scissor Lift Market size was valued at USD 3.03 billion in 2021, and it is expected to reach a value of USD 5.78 billion by 2030, at a CAGR of 6.8% over the forecast period (2023 –2030).
In the upcoming years, it is projected that the rising popularity of hybrid and electric lifts, together with significant additional growth prospects in the construction industry in developing nations, will propel market expansion. Over the next seven years, it is anticipated that rising workplace safety concerns and the implementation of strong worker safety rules in developed economies like the U.S., Germany, and the U.K. will increase product demand. In addition, it is anticipated that during the course of the projected period, the demand for building maintenance and repair services will increase.
Due to a rise in prefabrication and modular construction projects, the U.S. scissor lifts market is anticipated to reach USD 1.33 billion by 2027. According to the American Society of Civil Engineers, America's aged water and wastewater treatment facilities, hazardous bridges, and congested highways will require the U.S. federal government to invest USD 2 trillion by 2030.
Because of how novel coronaviruses have affected the governments and businesses who commissioned these projects, a significant number of construction projects have been postponed or abandoned. Additionally, it is projected that supply chain constraints of materials and equipment, especially raw materials like steel from Asia, could result in project delays or reduced spending over the future years, limiting the market's ability to grow.
Rising technical development and digitization are the market's main drivers. Since 2015, businesses like Terex Corporation have included telematics devices to their goods in an effort to save consumers money by reducing the number of repair calls and extending machine rentals. In January 2019, the business also unveiled the Genie Lift Connect telematics system, which would provide details on sensor data, battery life, failure codes, and fuel level information.
US Scissor Lift Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2023 –2030
Global Market Size
Largest Segment
Chemical Ingredients
Fastest Growth
Natural Ingredients
Growth Rate
6.8% CAGR
Global Scissor Lift Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Scissor Lift Market Size By Ingredients, 2021-2028 ($ Bn)
Global Scissor Lift Market Size By Ingredients, 2021-2028 (%)
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Global Scissor Lift Market Segmental Analysis
The global scissor lift market has been segmented based on type, end-user, and region. Based on type, the Scissor Lift Market is segmented into electric scissor lifts and engine-powered scissor lifts. Based on the end-user, the Scissor Lift Market is segmented into construction, retail, storage, and warehouses, transportation and logistics, and others. Based on region, the scissor lift market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Scissor Lift Market Analysis by End-User
Due to increased expenditures on new infrastructure and changes to promote Public Private Relationships (PPPs) in the Asia Pacific region, the construction industry dominated the market and accounted for 50.3% of global revenue. The market for electric micro scissor lifts is likely to increase over the next several years as construction activities are anticipated to shift away from non-residential structures and toward residential developments.
Due to the rising popularity of on-demand warehousing, which allows businesses with excess warehouse capacity to fill their space by renting it out to sellers with seasonal or short-term storage needs without entering into long-term agreements, the retail, storage, and warehouse end-user segment is predicted to grow at a CAGR of 6.2 percent over the forecast period.
There were more than 1 million retail establishments in the United States, according to statistics from the National Retail Federation. Additionally, while successful retailers are embracing both offline and online businesses, for every company closing storefronts, 5.2 are building locations. In addition, it is predicted that 850 brick-and-mortar stores from previously online-only firms would emerge over the next five years, driving up product demand.
Over the course of the forecast period, the market for automotive repair and maintenance services is anticipated to rise due to the increasing demand for used automobiles and the requirement for passenger safety. Due to their high flexibility and cost-efficiency, scissor lift demand is consequently anticipated to increase significantly in the automotive industry.
Global Scissor Lift Market By Ingredients , 2021(%), 2021 (%)
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Global Scissor Lift Market Regional Insights
In 2021, the Asia Pacific accounted for more than 30% of the global scissor lift market. Numerous construction companies are being forced to rent or lease scissor lifts because of the equipment's hefty original cost. In order to draw in new business clients and increase their profit margins, rental businesses like Acces Industrie, Herc Holdings, Inc., and United Rentals are concentrating on expanding their fleets of equipment. For instance, Acces Industrie ordered new 327 Snorkel mobile elevating platforms in April 2021, expanding its rental fleet.
With the sale of around 40,000 additional units, the North American scissor lift market will have grown to over USD 800 million in 2020. The U.S. and Canada's emphasis on infrastructure projects investment for economic recovery following the COVID-19 epidemic will boost market income. For instance, the governments of Ontario and Canada stated in July 2021 that they would invest USD 35 million in infrastructure projects for local communities and leisure centres.
Due to the rising demand for scissor lifts in residential construction projects, industry leaders are extending their commercial operations in the United States. For instance, Guangxi LiuGong Machinery Co., Ltd. launched its entry into the United States in February 2020 with the introduction of two new models, the LSC1012DE and LSC0607DE.
Global Scissor Lift Market By Geography, 2021 - 2028, 2023 –2030
- Largest
- Fastest
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Global Scissor Lift Market Dynamics
Scissor Lift Market Driver
- Scissor lifts are becoming more popular across a wide range of end-use sectors thanks to the numerous benefits they provide. The simplicity of operation is one of the main benefits that scissor lifts provide. As a result, the personnel doesn't need much training to operate these lifts. Additionally, due to their small size, these elevators require extremely little storage space. These gadgets are conveniently portable to many locations. The producers in the global scissor lift market are benefiting from exceptional sales prospects from the end-use industries around the world as a result of all these qualities.
- Due to the increasing urban population across the globe, construction activity has increased significantly in recent years. In addition, the governing bodies of numerous nations around the world are putting more emphasis on the development of infrastructure. Due to these elements, demand channels for suppliers in the worldwide scissor lift market are expanding.
Scissor Lift Market Restraint
- Some of the product restrictions include high investment costs, adherence to various laws when producing new products, and regular maintenance needs to assure smooth functioning. Additionally, one of the key factors hindering market expansion is the need to maintain cost competitiveness in the global marketplace.
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Global Scissor Lift Market Competitive Landscape
The scissor lift market is fairly fragmented on a global scale. The scissor lift market is very competitive, as evidenced by the presence of numerous local and international manufacturers. In this sector, a lot of businesses are investing a lot of money in research. These actions aid them in improving the operability, serviceability, and efficiency of their products. In addition to this, numerous vendors are introducing cutting-edge products to meet the shifting demands of end-use sectors. Industry leaders are increasing their overall revenues as a result of these actions. All of these actions point to the global scissor lift market expanding significantly.
Top Players in the Global Scissor Lift Market
- Terex Corporation (US)
- Tadano Ltd. (Japan)
- Galmon (Singapore)
- Zoomlion Heavy Industry Science and Technology Co., Ltd. (Chain)
- Sany Heavy Industry Co., Ltd (China)
- Altech Industries (US)
- XCMG Construction Machinery Co., Ltd. (China)
- Kato Works CO., LTD. (Japan)
- Kobelco Construction Machinery Co., Ltd. (Japan)
- Furukawa Unic Corporation (Japan)
- Columbus McKinnon Corporation (US)
Scissor Lift Market Recent Development
- In November 2020, Haulotte has launched two new electric all-terrain scissor lifts, the HS15 E and HS18 E (HS4390 E and HS5390 E in North America), as part of its Pulse generation line. They are able to lift up to 750 kg of load and up to four people. Working heights of up to 15 m and 18 m are available on the HS15 E and HS18 E, respectively. Their large work platform reaches 7.40 m long when both extensions are deployed.
- In November 2020, Genie has introduced the new E-Drive system, an enhanced AC electric drive system that is available across the GS™ slab scissor lift line. The new E-Drive equipped GS scissor lifts to provide greater run time, lower maintenance costs, and industry-leading performance for commercial and residential contractors, rental owners, and retail customers looking to decrease the total cost of ownership.
Global Scissor Lift Key Market Trends
- Due to increased investments in new infrastructure, the construction industry is the biggest contributor to the market. Additionally, the expansion of the market in the Asia-Pacific region has been aided by the reformation of the construction industry through public-private partnerships (PPPs). Scissor lifts may be a piece of necessary equipment for the retail storage and warehouse sector because of on-demand warehousing. Due to its simplicity of use, the maintenance and service sector is anticipated to grow the scissor lift market in the future. The North American construction industry's adoption of fresh developments has greatly increased the demand for scissor lifts. Due to their size compatibility, scissor lifts with a height of fewer than 10m will drive the market.
Global Scissor Lift Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, of end-user, the construction segment dominated the global scissor lift market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global scissor lift market owing to the region's infrastructure projects investment.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 3.03 billion |
| Market size value in 2030 | USD 5.78 billion |
| Growth Rate | 6.8% |
| Base year | 2021 |
| Forecast period | 2023 –2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Scissor Lift Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Scissor Lift Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Scissor Lift Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Scissor Lift Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Scissor Lift Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Scissor Lift Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Scissor Lift Market Report Snapshots
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