Selbyville, Delaware, Nov. 29, 2021 (GLOBE NEWSWIRE) --
The scissor lift market revenue is anticipated to record a valuation of USD 4 billion by 2027, according to the most recent study by Global Market Insights Inc. The market is expected to display a high growth owing to rising transport & logistics and utility activities across the globe. Increasing adoption of scissor lifts to reduce the human accidents on ladders is also contributing to market growth.
The spread of COVID-19 virus from 2019 end has negatively impacted the scissor lift market across the globe. Majority of governments imposed strict lockdown for 3-4 months to curb the virus transmission. This lockdown resulted in temporary suspension of all industry activities such as production, construction, import & exports, and shutdown of dealer warehouses. Due to this, scissor lift sales were hampered remarkably in the first half of 2020. However, post pandemic, supportive government initiatives to fuel the economy growth will provide a positive outlook for the market over the projected timeframe.
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The proliferation of e-commerce companies is driving the market growth for scissor lifts in the transport & logistics sector. Scissor lifts are used significantly for material handling of the parcels in the warehouses. Market players are developing scissor lifts specially for the Europe market to increase their revenue stream. For instance, in October 2021, MAGNI Telescopic Handlers Srl launched new nine AC units and four electric units of scissor lifts.
Industry players active in the scissor lift market are adopting various business strategies such as new product launches, partnerships with local distributors, and acquisitions to accelerate their product sale. For instance, in November 2020, Haulotte Group unveiled new scissor lifts HS15 E and HS18 E in North America. The HS15 E & HS18 E offers height upto 15m and 18m, respectively. The scissor lift’s maximum payload capacity is 750 kg, making it suitable for various applications such as insulation, cladding, and maintenance work.
Some major findings in the scissor lift market report include:
- Increasing population & urbanization at a significant pace in the Asia Pacific region is accelerating the construction activities. Due to this, the scissor lift market will have a favorable environment for expansion over the forecast timeline.
- Remarkable industrialization and heavy government investments in infrastructure project are creating market expansion opportunities in North America. Additionally, the expansion of OEM dealerships in the region will further drive the market growth.
- The integration of advanced technologies, such as telematics, load balancing system, and AR, into the scissor lift is fueling their sale in Europe. Shifting construction companies’ focus toward advanced telematics systems in scissor lifts for workers safety and to reduce maintenance cost is contributing to industry growth.
- The growing investments in utility projects and infrastructure development are fueling the scissor lift adoption in the Latin America region. Growing residential construction in Brazil, Peru, Argentina, and Mexico is creating a high demand for scissor lifts.
- Proliferation of petroleum plants and metal mining in the MEA region is accelerating the scissor lift demand in the region. Transportation and logistics services enhancement activities by various governments will further propel the scissor lift adoption in the African region.
- Key players operating in the construction equipment market include Genie Lift (Terex Corporation), Zoomlion Heavy Industry Science and Technology Co., Ltd., Aichi Corporation, Zhejiang Dingli Machinery Co, Ltd., Dinolift OY, Hunan Sinoboom Heavy Industry Co. Ltd., Holland Lift International bv, Manitou Group, JLG Industries, Inc., Snorkel, Skyjack, Inc., and Tadano Limited.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Scissor lift industry 360° synopsis, 2016 – 2027
2.1.1 Business trends
2.1.2 Type trends
2.1.3 Platform height trends
2.1.4 Appilcation trends
2.1.5 Regional trends
Chapter 3 Industry Insights
3.1 Industry segmentation
3.2 Impact of COVID-19 on scissor lift industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research & development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Component suppliers
3.3.2 Technology providers
3.3.3 Manufacturers
3.3.4 End use landscape
3.3.5 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Telematics
3.4.2 Virtual Reality and Platform Simulators
3.4.3 Lithium Batteries
3.4.4 Load Sensing System
3.4.5 Solid States Control
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Rising construction activites in North America
3.6.1.2 Growing demand for advance technology integrated scissor lifts in Europe
3.6.1.3 Emergence of rental equipment companies in Asia Pacific
3.6.1.4 Increasing utility development and infrastructure projects in the Latin America
3.6.1.5 Supportive government initiatives for smart cities in MEA
3.6.2 Industry pitfalls & challenges
3.6.2.1 Limited availability of skilled and qualified operators
3.6.2.2 High costs associated with scissor lifts
3.7 Growth potential analysis
3.8 Porter's analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
