Scissor Lift Market size worth over $3 Bn by 2026
Published Date: July 2, 2020 Authors: Preeti Wadhwani, Prasenjit Saha
Scissor Lift Market size is set to be over USD 3 billion by 2026; according to a new research report by Global Market Insights, Inc.
The rising infrastructure & construction activities across the globe are driving scissor lift industry growth. These platforms are primarily used to lift workers & heavy loads at elevated heights safely & efficiently. Government authorities are implementing stringent laws pertaining to worker safety, leading toward the increasing adoption of scissor lift owing to its enhanced safety over its counterparts such as ladders.
Companies operating in this market are introducing new models of lifts with enhanced operating height to cater to the rising demand from the construction industry. For instance, in May 2019, PB Lifttechnik GmbH announced the launch of its tallest scissor lift, S370-24 ES 4x4. The new equipment has the working height of 37.5 meters with the maximum load capacity of around 750 Kg. Additionally, the lift features 4-wheel drive, a fully automatic support system, and 2-axle steering that will aid operators to lift heavy loads efficiently.
The major market factor challenging the scissor lift market is the unavailability to skilled operators. Industry players, such as JLG and Genie, are offering equipment safety & operator training programs to reduce the number of casualties at the workplace, supporting market size expansion. Moreover, the rising demand for used construction machinery is hampering market growth. Contractors with low budget prefer to purchase used machines owing to their low cost over new equipment, challenging the market expansion.
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Analyst view: “The implementation of telematics technologies in scissor lifts is aiding to improve productivity and efficiency at worksites.”
The recent outbreak of COVID-19 has negatively impacted to the market demand for scissor lifts. Governments across the globe have implemented stringent lockdowns and restricted people movement to contain virus spread. Government offices, warehouses, and construction activities are temporarily shut down, restricting the demand for new maintenance and repair machines.
Increasing industry demand for high-performance scissor lifts to enhance productivity and efficiency
According to the market forecast, engine-powered access platforms are anticipated to reach around USD 380 billion by 2026 in North America, growing at a high CAGR from 2020 to 2026. The growth can be attributed to the rising demand for scissor lifts with high load lifting capabilities. Engine-powered scissor lifts offer enhanced lifting capabilities over electric machines, supporting their adoption.
Companies operating in the scissor lift market are introducing new engine-powered machines with maximum lifting capabilities and working height. For instance, in April 2020, Snorkel announced the launch of its two new diesel engine-powered access platforms, S9070RT-HC and S9031RT-HC. These platforms have maximum lifting capacities of around 1,587 Kg and maximum working height of around 23.3 meters.
Browse key industry insights spread across 200 pages with 315 market data tables & 20 figures & charts from the report, “Scissor Lift Market Size By Type (Electric, Engine Powered), Platform Height (Below 10 Meters, 10 to 20 Meters, 20 to 25 Meters, Above 25 Meters), By Application (Rental, Construction & Mining, Government, Transportation & Logistics, Utility), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026” in detail along with the table of contents:
Increasing demand for access platforms in maintenance & repair activities
The lifts with below 10 meters height covered 36% of the scissor lift market in 2019 in China. The increasing demand for access platforms in maintenance & repair activities is supporting market growth. Government & corporate offices are deploying access platforms for building maintenance & repair activities owing to their enhanced safety, attributing to scissor lift industry development.
The demand for scissor lifts with below 10 meters platform height is also increasing steadily in the transportation & logistics industry to lift heavy loads at elevated heights. The emerging e-commerce industry, particularly in Asia Pacific countries, such as China and India, is providing a positive outlook to the market. These lifts allow operators to lift heavy packages at elevated shelves in warehouses, supporting their demand.
Rising demand for rental machinery to save high initial purchase cost
Based on application, the market is segmented as rental, transportation & logistics, construction & mining, and government. The rental application is gaining high traction in the market owing to the emergence of new access platform service providers in the industry. Players operating in equipment rental services are making large investments in expanding their fleet of machines to cater to the increasing demand for rental equipment. Rental machinery offers several advantages over new machines such as eliminating high initial purchasing cost as well as maintenance cost.
Implementation of worker safety & health regulation in Europe
Europe scissor lift market value is anticipated to reach over USD 850 million by 2026. Construction companies across the UK, Germany, and France are deploying access platforms to improve worker safety and increase productivity at worksite. Access platforms are integrated with side railing that restricts workers or heavy loads to drop from elevated height.
Leading industry players are adopting several strategies, such as mergers & acquisitions, partnerships & collaborations, and new product launches, to enhance their business operations and market shares. Moreover, companies are also focusing on developing electric lifts to cater to the demand for environment friendly and fuel-efficient machines.
Key players in the scissor lift market share include Genie, JLG Industries, MEC Aerial Work Platforms, Skyjack, Haulotte Group, Manitou Group, LGMG, Dingli and CTE.
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