According to a new market research report published by Credence Research, “Scissor Lift Market By Product Type (Electric, Diesel, Hydraulic, Pneumatic), By Movement Mechanism (Unpowered, Self-Propelled, Vehicle Mounted), By Application (Construction, Manufacturing, Logistics, Automotive and Others (Oil and Gas, Aerospace and Marine) and By Geography (North America, Europe, Asia Pacific, and Rest of the World)) – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global scissor lift market is expected to reach US$ 2.5 Bn by 2027, expanding at a CAGR of 5.6% during the forecast from 2019 to 2027.
With increasing demand for operation and maintenance of technological products, industrial use and material handling activities, the market for scissor lifts is projected to register tremendous growth over the forecast period. In addition, standardized governmental norms and growing awareness towards government safety regulations for scissor lifts are likely to expand the deployment rate of scissor lifts by different end-use sectors. Moreover, rising infrastructure projects and economic development in the Asia Pacific and the Middle East & Africa countries is projected to drive the demand for scissor lift market globally.
With growing acceptance and maturity of the scissor lift market, safety features start playing a vital role in various industries such as manufacturing, construction, etc. An increasing number of manufacturers along with their expanded sales and distribution network will further augment the market growth of scissor lift market on a global scale. According to International Powered Access Federation (IPAF) in 2017, Linamar Corporation registered a sale of around US$ 71 million for scissor lift in North America, Europe, and Asia-Pacific.
An increasing trend in the construction industry and enforcement of the American National Standards Institute (ANSI) standards for mobile elevating work platforms (MEWP) in North America makes the region to hold a share of more than 40% in the global scissor lift market. For instance, according to International Powered Access Federation (IPAF) analysis in 2017, the U.S. rental market for mobile elevating work platforms (MEWP) continued to grow by 4%, thereby increasing the fleet size by 580,000 units.
The strong economy and positive trend towards the residential market and commercial real estate is considered as a major driver booming the construction market in North America. For instance, as per Associated General Contractors in 2018, the U.S. annually spends around US$ 1,231 billion on the construction sector, thereby driving the market for scissor lift over the forecast period.
Some of the leading manufacturers profiled in the study include Terex Corporation, TADANO LTD., Zoomlion Heavy Industry Sci & Tch Co Ltd, Edmolift AB, Linamar Corporation, Aichi Corp, JLG Industries, J C Bamford Excavators Ltd, Galmon (Singapore), Snorkel, PB Lifttechnik GmbH and Haulotte Group SA among others.
Browse the full report at https://www.credenceresearch.com/report/scissor-lift-market
The Global Scissor Lift Market is Segmented into:
|Segmentation||By Product Type Segment (2017–2027; US$ Bn)|
|By Movement Mechanism Segment (2017–2027; US$ Bn)|
|By Application Segment (2017-2027: US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page