Press Release

Scissor Lift Market Surpass USD 5,070 Million by 2028 | CAGR 6%

Date : Mar 17, 2023

According to Ameco Research, the worldwide Scissor Lift Market will increase at a CAGR of more than 6% throughout the forecast period, reaching a market size of more than USD 5,070 Million by 2028.

A scissor lift, also known as a table lift, is primarily used to lift people upwards, thanks to its crisscrossing foundation that supports the platform. The scissor lifts allow people and equipment to move vertically. Any task that would normally involve the use of a ladder, tower, or scaffolding can be handled using these elevators. Scissor lifts enable operators to complete tasks more quickly and safely than they could with conventional equipment, such as scaffolding or a tower, and without the risk of a ladder becoming unstable.

The growing number of accidents in the construction and manufacturing sectors due to traditional fixtures such as step ladders and scaffolding has created awareness regarding scissor lifts. The International Labour Organization (ILO) of the United Nations estimates that 2.8 million workers die each year around the world, with more than 6,500 deaths from work-related diseases and 1,000 deaths from occupational accidents reported every day. Falls are one of the leading causes of death on construction sites, with occurrences such as falling off scaffolding, ropes, or ladders among the most common. Although the risk of falling when working at any height may never be avoided, scissor lifts provide a safety harness or cable as well as a robust platform enclosed by a guardrail. A scissor lift's work platform provides a solid foundation and high levels of safety for any job that takes place at low to medium elevations.

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The increasing demand of scissor lifts in the construction industry fuels the market growth

Scissor lifts are most commonly utilized in the construction industry because of their ability to hold a large amount of weight and hence provide more workspace and lifting capability. They're usually utilized to get individuals to a set height where they can work on something. They can also be used to convey necessary equipment and supplies, like pipes, concrete blocks, and cement, to a higher location. Furthermore, they are simple to operate, decreasing operator fatigue and raising output levels. Scissor lifts take up very little room in a warehouse or office when they are not in use and fully retracted. Scissor lifts are a transportable and adaptable solution for construction projects with constantly changing conditions. Renovation and general contracting benefit from scissor lift because of this.

Scissor lifts also provide ease of operation and flexibility in tough and compact environments. Additionally, they speed up the process of heavy lifting objects in minutes with superior efficiency. Thus, in comparison to movable scaffolding and ladders, scissor lifts are very easy to handle and transport from one location to another. However, high maintenance costs and risky surrounding aspects such as high winds, power lines, and uneven ground are some of the restraints that are limiting the market growth. Furthermore, rising technological advancements by key players in the lifts industry will provide several prospects throughout the projected years. For example, in 2019 - Terex Corporation has introduced the Genie lift connect telematics solution, which provides data on battery life, fault codes, and fuel levels.

Global Scissor Lift Market Segmentation

The global scissor lift segmentation includes engine type, lift height, end-user, and geography. The engine type segment includes an electric scissor lift and engine powered lift. The electric scissor lift is expected to lead the engine type segment during the forecast period 2021 – 2028. Ease in operations, easy to move, lightweight as compared to others, and less expensive are some of the aspects that are contributing to the largest market share. Furthermore, engine powered lift segment is likely to attain stable growth in the coming years.

The lift height segment is categorized into less than 10 meters, 10 meters to 20 meters, and more than 20 meters. Among them, less than 10 meters gathered a significant amount of share in 2020. Based on end-user the market is comprised of the construction industry, retail storage & warehouse, transportation, and logistics. In 2020, the construction segment achieved the maximum share due to the rising construction activities. However, the retail storage & warehouse segment is likely to attain the fastest growth rate in the coming future.

Furthermore, North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa are the regional categorization of the global scissor lift market. North America held the largest amount of share in 2020. Even though the region gathered a considerable share it is expected to witness sluggish growth in the coming years. Meanwhile, the Asia-Pacific region is expected to exhibit a lucrative growth rate during the forecast period owing to the rising per capita income, growing construction activities, and increasing demand for affordable housing homes.

Major Players

The prominent players offered in the report include Galmon, HAULOTTE GROUP, JLG Industries, KATO WORKS CO., LTD., MEC, Tech Mech, Tadano Ltd., Terex Corporation, Technosys Equipments Private Limited, and WIESE USA.

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