Scissor Lift Market Size ($4.37Bn by 2028) Growth Forecasts at 4.9% CAGR During 2022 to 2028 – Global Analysis by The Insight Partners

The global scissor lift market growth is driven by rapidly expanding manufacturing industries and rising inclination toward environmentally friendly & energy-efficient platforms (both electric and hybrid). North America holds the third-largest scissor lift market share in 2022.

New York, Feb. 01, 2023 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Scissor Lift Market Size, Share, Growth and Global Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Hydraulic, Mechanical, and Pneumatic); Movement Type (Mobile and Fixed); Industry (Construction, Manufacturing and Warehouse, and Others),” the global scissor lift market size is expected to grow from USD 3.56 billion in 2022 to USD 4.37 billion by 2028; it is anticipated to register a CAGR of 4.9% from 2022 to 2028.

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Global Scissor Lift Market Report Scope, Segmentations, Regional & Country Scope:

Market Size Value in USD 3.56 billion in 2022
Market Size Value by USD 4.37 billion by 2028
Growth rate CAGR of 4.9% from 2022-2028
Forecast Period 2022-2028
Base Year 2022
No. of Pages 224
No. of Tables      17
No. of Charts & Figures 72
Historical data available Yes
Segments covered Product Type, Movement Type, Industry
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Companies Covered Terex Corporation, JLG industries, Aichi Corporation, Haulotte Group, Linamar Corporation, MEC Aerial Work Platforms, Galmon (S) PTE. Ltd., Wiese, Inc, Edmolift AB1, Advance Lifts Inc.
Key Research Capabilities Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development
Global Scissor Lift Market Forecast to 2028 – Latest COVID-19 Analysis

Global Scissor Lift Market: Competitive Landscape and Key Developments

Terex Corporation; JLG Industries; Aichi Corporation; Haulotte Group; Linamar Corporation; MEC Aerial Work Platforms; GALMON (S) Pte Ltd.; Wese USA; Edmolift AB; and Advance Lifts, Inc. are among the key scissor lift market players operating in the market.

In July 2022: QuickJack declared a new product – 6000ELX Portable Car Lift. The new portable car lift is an affordable and compact solution for lifting electric vehicles for service, maintenance, and detailing at a shop, home, or on the go. The 6000ELX is a frame-engaging and compact scissor lift with an open-center design for complete access to a vehicle’s undercarriage. Moreover, the 6000ELX has a rated lifting capacity of 6,000 lbs.

In October 2021: JCB India introduced the Access range with four electric scissor lifts. The new range includes S1930E, S3246E, S2632E, and S4046E, with working heights of 7.71 m, 11.7 m, 9.92 m, and 13.9 m, respectively. The company has entered into environment-friendly products and technologies by rolling out electric scissor lifts.

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Scissor Lift Market: Industry Overview

Based on industry, the scissor lift market size is segmented into construction, manufacturing and warehouse, and others. The manufacturing segment accounted for the largest scissor lift market share in 2022. The global manufacturing industry is rapidly expanding as more and newer regions are investing in adopting manufacturing plants in their localities. The expansion in the manufacturing industry is highly driven by economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. This technological revolution in the factories has encouraged the manufacturing industries to further invest in emerging technologies to enhance their productivity and production cycle.

Manufacturers are looking ahead for taking best out of digital transformation era and stringent health & safety regulations which are majorly prevailing in the construction industry. Countries such as China, India, Saudi Arabia, and the UAE are investing massively in their manufacturing sector to promote domestic manufacturing sector. Favourable government policies and FDIs for strengthening manufacturing sector in mentioned countries is expected to drive the demand for scissor lifts, and in turn will boost the scissor lift market growth.

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The scissor lift market size is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. APAC held the second-largest scissor lift market share in 2022, and is expected to retain its position during the forecast period. APAC comprises several developing economies, such as China, India, and many Southeast Asian countries, strongly demanding infrastructure projects. The rising population of these countries is the main driver for the construction sector in the region. In the Philippines, the government has launched a public-private partnership (PPP) program to facilitate the development of national and local-level infrastructural projects. Similarly, Thailand’s government is also focused on PPP to enhance its infrastructure development. This signifies the large role played by the governments of different countries based in APAC in supporting infrastructure development. Further, the Building and Construction Authority (BCA) of Singapore expects that the total construction projects would be valued between S$ 27 billion and S$ 32 billion in 2022, out of which public sector projects hold the majority share. The constant development and rise in the need for housing in the region are further expected to influence the growth of the scissor lift market during the forecast period.

Recently, China has evolved to be the hotbed to produce scissor lifts. Not only Chinese manufacturers but other established manufacturers across the globe are foreseeing China as a land of opportunities. Hence, they have moved a cumulative share of the production to the country. JLG and Genie already have well-established manufacturing plants in China, where electric scissor lifts capture a significant fragment of production for the global marketplace. These plants are considered equal in production capabilities to their other plants worldwide. The shift in the manufacturing trend is expected to generate substantial growth opportunities for the scissor lift market, particularly in Asian countries.

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Impact of COVID-19 Pandemic on Global Scissor Lift Market Growth:

North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies. Any impact on the growth of industries is expected to negatively affect the regional economic growth. Governments imposed lockdowns to limit human movement and curb the spread of COVID-19, leading manufacturing facilities to experience lower-than-usual production volumes. This factor limited the production of scissor lifts to some extents, however, have not impact the scissor lift market growth negatively. On the contrary, the adoption of equipment with limited human contact increased in warehouses, factories, and other crucial application areas. The US is one of the largest markets for developing autonomous technologies and integrating them into machines to make them automated at a high level. The mentioned fact of the country being advanced in technologies is revolutionized the usage of scissor lifts during the pandemic. Inclination towards using autonomous technologies with less workers is projected to contribute toward adopting more material handling equipment including scissor lifts. This inclination towards scissor lift among warehouses and industries is increasing, which in turn would create a positive impact on the scissor lift market.

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Vertical Lift Module (VLM) Market– The Global Vertical Lift Module Market size accounted for US$ 808.5 Mn in 2017 and is expected to grow at a CAGR of 9.5% during the forecast period 2017 – 2025, to account for US$ US$ 1667.6 Mn in 2025.

Heavy Duty Lifts Market – Heavy duty lifts are used for handling and lifting of heavy equipment. The automotive sector is one of the leading procurers in heavy duty lifts for maintenance purposes.

Platform Lifts Market– Platform lifts are the elevator that is used to lift people or wheelchair up and down floors. These lifts are primarily designed to give access to people who have difficulty with a staircase.

Construction Lift Market – The rising number of high rise residential buildings and non-residential building in the developed, as well as developing countries, are leading the construction lift market to propel over the years.

Automotive Lift Market – Automotive lift is a lift which is basically used for lifting vehicles in garages, manufacturing sites, or any other repair centers.

Aerial Lift Market – An aerial lift is a type of elevator work platform and is a mechanical device that gives temporary access for equipment or people for inaccessible work areas, mainly heights.

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