Global scissor lifts market to grow at 3.5% CAGR through 2030.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.
The market will especially gain from the rising demand from AWP rental service providers. FMI has projected the segment to account for over 80% of the demand recorded in the market through the forecast period. Also increasing application in manufacturing, construction, commercial, and other sectors will continue aiding growth.
For instance, Haulotte announced launching two new mobile elevating work platforms that have fully electric architecture to offer excellent performance, while reinforcing direction taken by the company towards environmentally friendly alternative energies.
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Key Takeaways from Scissor Lifts Market Study
- Scissor lift market will expand at a steady pace, exhibiting 3.5% CAGR between 2021 and 2031
- The U.S. is expected to account for over 40% sales of scissor lifts
- U.K. will remain key market in Western Europe
- Germany and France will continue exhibiting high demand backed by rising construction activities
- Sales in Japan and South Korea to increase at a positive pace
“In addition to keeping long-term alliance with their key buyers, companies are offering training courses for operators and focusing on expanding their product range by including electric, hybrid or bi-energy scissor lifts to cater the growing demand for aerial work platforms across the world” said a lead FMI analyst
Growing shift towards hybrid lift development which help rental fleet owners to leverage the flexibility of scissor lift performance for higher utilization and longer term rentals is set to be remain as prominent force in shaping the scissor lifts market.
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Some of the leading companies operating in the scissor lifts market are Terex Corporation (Genie), JLG Industries, Inc., Linamar Corporation (Skyjack), Snorkel International, Haulotte Group, and Zhejiang Dingli Machinery Co, Ltd. These companies are incorporating new environmental-conscious technologies. Along with this, they are fine-tuning their expansion strategies to gain competitive edge.