NEWARK, Del, July 02, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the estimated global scissor lifts market size is anticipated to reach USD 3014.1 Million by 2024 and is set to grow at a CAGR of 3.5% from 2024 to 2034. It is anticipated that worldwide sales of scissor lifts will total USD 4251.7 Million by 2034, driven by increasing investment in infrastructure development and renovation projects.
Rapid urbanization in emerging economies and increased renewable energy projects are driving demand for mobile elevating work platforms. Safety regulations and the construction sector's focus on customization are set to increase the need for reliable platforms. The end-use industry is also anticipated to demand mobile elevating platforms for maintenance and inventory management.
The sector is expected to consolidate as industry giants acquire emerging companies and adopt renting equipment for cost-effective alternatives. Manufacturers are developing versatile aerial work platforms with unique selling points, and electric scissor lifts are becoming mainstream due to their lower operational costs and environmental benefits.
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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
Key Takeaways from the Market Report:
- The scissor lift market is set to reach USD 4251.7 Million by 2034 with a CAGR of 3.5%.
- By platform height, up to 30 feet is leading the scissor lift market with a value share of 48.1% in 2024.
- Based on the end-use industry, the construction sector accounted for a market share of 28.6% in 2024.
- India is estimated to record a CAGR of 5.2% between 2024 and 2034.
- China is anticipated to hold the leading position and show steady growth at a CAGR of 3.9% by 2034.
“Rental model is experiencing increasing demand in the scissor lift sector, providing organizations with flexibility of equipment use and cost savings,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Robust Infrastructure to Enable Steady Growth in U.K.
The rental scissors lift market is well-established in U.K. The country has been identified as an economic catalyst among Western European countries and it is expected to remain at the forefront of the market.
Furthermore, the rental market is steadily growing as end-users seek to benefit from higher machine utilization and focus on their core businesses. The strong consciousness amid consumers across UK, coupled with the government safety regulations and growing access industry, will be among the key factors fueling the pace of the scissor lifts sales in country.
Advancements, such as supply of electric and hybrid lifts will expedite their utilization across indoor as well as outdoor applications in the country. Regulations in UK for scissor lifts utilization will support the development of scissor lifts. The country also has robust infrastructure and is home to prominent manufacturers. The demand for scissor lifts from the commercial sector will outpace the demand from the manufacturing sector in the country.
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Who’s Winning?
Leading scissor lift companies like Terex Corporation, JLG Industries, Linamar Corporation, Snorkel International, and Haulotte Group are developing aerial work platforms with enhanced maneuverability, variable platform heights, and increased lifting capacity. These players prioritize safety, overload protection, automated tilt sensors, and operator training programs.
The manufacturers are also researching electric scissor lifts with longer battery lives and hybrid models. Sensors on mobile elevating work platforms are being installed to gather data for predictive maintenance and fleet management. Industry giants are targeting developing nations with a growing construction sector, forming partnerships with distributors and rental companies, and focusing on sustainable practices.
Industry Updates:
- JLG Industries, Inc., headquartered in Pennsylvania, in February 2024, introduced a new electric scissor lift, the ES4046.
- Manitou Group, headquartered in France, in February 2024, launched a new range of aerial work platforms, marking its first in-house production. The new models, SE 0808 and SE 1008 offer 8m and 10m working heights, followed by a 12m model, SE 1212.
Key Players in Scissor Lift Market:
- Terex Corporation
- JLG Industries
- Linamar Corporation
- Snorkel International
- Haulotte Group
- Zhejiang Dingli Machinery Co, Ltd
- Aichi Corporation
- Manitou BF
- Hunan Sinoboom Heavy Industry Co., Ltd.
Get More Insights into the Scissor Lift Market Report:
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the scissor lift market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on platform height (, up to 30’, 30’ to 50’, and more than 50’), type (electric scissor lifts and engine-powered scissor lifts), end-use industries (construction, entertainment, commercial, manufacturing, and others), and regions (North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, Middle East, and Africa).
Scissor Lift Market Segmentation Analysis:
By Platform Height:
- Upto 30’
- Between 30’ to 50’
- More than 50’
By Type:
- Electric
- Engine-powered
By End-use Industries:
- Construction
- Entertainment
- Commercial
- Manufacturing, and others
By Region:
- North America
- Latin America
- Western Europe
- South Asia
- East Asia
- Eastern Europe
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/scissor-lifts-market
About Future Market Insights – Industrial Automation:
The Industrial Automation division of Future Market Insights offers a novel approach and innovative perspective in analyzing the industrial automation domain. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of the installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustaining, growing, and identifying new revenue prospects.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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