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 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 analyzing the impact COVID-19 has had on the end-use industry in general, and scissor lifts in particular.
Surging construction activities will be boost sales of scissor lifts. In a new study Future Market Insights (FMI) has projected the global market for scissor lifts to reach a market value of ~US$ 4.5 Bn by 2031.
Lack of efficient government regulations along with high pricing and continued availability of traditional methods have remained the key concerns for manufacturers of scissor lift. Nonetheless, the market is undergoing a massive transformation as a result of companies shifting their focus away from mature markets to developing countries. With rental companies playing a pivotal role in the scissor lifts market, developing countries are expected to emerge as lucrative pockets for business expansion. FMI in its study have found the market to have expanded at 2.3% CAGR between 2016 and 2019.
By Segmentation:
Platform Height
- Up to 30′
- 30′ – 50′
- More than 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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Manufacturers are continuously focusing on enhancing product efficiency and incorporating new environmental-conscious technologies. Along with this, the companies are fine-tuning their expansion strategies to stay relevant amid increasing competition. Besides demand from building and construction sector, application in repair activities will remain a key focus for market players.
With rise in infrastructural projects and economic development in Middle East & Africa, access equipment such as scissor lifts are gaining more traction. With growing acceptance and maturity of scissor lifts market, safety features start playing a vital role. As there are only a limited number of manufacturers in the MEA, established players are expanding their sales network in the region to further augment the growth. FMI expects global scissor lifts market to grow at 3.5% CAGR through 2030.
Competitive Landscape
Companies operating in the scissor lifts market are shifting focus to developing countries to capitalize on growth opportunities in ASEAN, China, India, and Russia, and other countries. Besides this, they have been focusing on improving their offerings to gain better traction. For instance, Oshkosh Corporation modified its ES (electric scissor) and RT (rough terrain) scissor lift lines in 2015. Furthermore in the same year, the company launched 53-foot rough-terrain scissor lift.
Several companies that specialize in low-weight machines are focusing on innovations to improve safety with the inclusion of several innovative features, such as crush-protection sustainable involuntary operation prevention systems, sensitive hybrid power systems, etc. For instance, Palfinger AG developed a new control unit for self-propelled scissor lift platforms for the Chinese market. These lifts improved safety considerably.
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Some of the leading companies operating in the market are:
- Terex Corporation (Genie)
- JLG Industries, Inc.
- Linamar Corporation (Skyjack)
- Snorkel International
- Haulotte Group
- Zhejiang Dingli Machinery Co, Ltd.
- Aichi Corporation
- Manitou BF
- Hunan Sinoboom Heavy Industry Co., Ltd.