PUBLISHER: The Business Research Company | PRODUCT CODE: 1428234
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428234
A scissor lift is a mechanical apparatus designed for vertical transportation of people and objects. It enables users to perform tasks efficiently and safely without requiring additional equipment such as scaffolding or a tower, eliminating the inherent risks associated with ladder instability.
Scissor lifts come in various types, including hydraulic, diesel, electric, and pneumatic. The hydraulic scissor lift, for instance, utilizes hydraulic technology to raise and lower the working platform. It encompasses different engine variations, such as electric and engine-powered scissor lifts, offering a range of lift heights, categorized as less than 10 meters, 10-20 meters, and more than 20 meters. These scissor lifts are distributed through various channels, including direct sales and indirect sales, catering to diverse applications such as construction, entertainment, manufacturing, and more.
The scissor lift market research report is one of a series of new reports from The Business Research Company that provides scissor lift market statistics, including scissor lift industry global market size, regional shares, competitors with a scissor lift market share, detailed scissor lift market segments, market trends and opportunities, and any further data you may need to thrive in the scissor lift industry. This scissor lift market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The scissor lift market size has grown strongly in recent years. It will grow from $3.37 billion in 2023 to $3.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historical period can be ascribed to a heightened focus on workplace safety, growing demand from the automotive industry, expansion in logistics and distribution, the increased scale of healthcare facility operations, and a shift towards the development of environmentally friendly buildings.
The scissor lift market size is expected to see strong growth in the next few years. It will grow to $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be linked to infrastructure development, a rise in workplace accidents, the trend of urbanization and vertical construction, ongoing projects in renewable energy, and the integration of Industry 4.0. Noteworthy trends in the forecast period involve collaborative partnerships, adoption in developing markets, innovation in battery technology, remote access and control, and the prevalence of modular and customizable designs.
The anticipated growth in the scissor lift market is expected to be driven by increased construction activities. Construction activities encompass various operations and procedures within the construction sector. Scissor lifts are commonly employed in construction for tasks requiring work at elevated heights, featuring machinery and a platform to transport both people and oversized loads to elevated locations. For example, a report published by Oxford Economics, a UK-based economic information services company, in September 2021, indicated that global construction output reached $10.7 trillion in 2020. Projections suggest a significant increase of 42%, or $4.5 trillion, between 2020 and 2030, reaching $15.2 trillion. Consequently, the upswing in construction activities is a key factor propelling the growth of the scissor lift market.
The expanding reach of the e-commerce industry is anticipated to contribute to the growth of the scissor lift market. E-commerce involves the online buying and selling of goods and services, and scissor lifts find frequent use in warehouses to facilitate efficient vertical movement of personnel and goods. This provides a safer and more accessible means for various tasks, including inventory management, order picking, and maintenance of storage racks at different heights. As of May 2021, the United States Department of Commerce reported a substantial 39.0 percent increase in US e-commerce sales during the first quarter of 2021 compared to the same period in 2020. Hence, the ongoing expansion of the e-commerce industry is a significant driver for the growth of the scissor lift market.
Technological advancements emerge as a prominent trend gaining momentum in the scissor lift market. Major companies within the scissor lift sector are embracing innovative technologies to maintain their competitive positions. For example, in July 2021, JLG Industries Inc., a US-based manufacturer of lift equipment, introduced all-terrain scissor lifts featuring screens and smart technology. The platform control boxes come equipped with liquid-crystal display monitors, facilitating the integration of new technology. This allows operators to gain a better understanding of the lift's performance and capabilities by focusing on pertinent data. The enhanced platforms on these new models offer a 28% increase in working space, accommodating more equipment, personnel, and materials. JLG's LiftSense is another technological advancement that displays the platform's maximum heights, accounting for the platform's tilt and weight.
Major companies in the scissor lift market are innovating with new products, such as zero-emission electric drive scissor lifts, to gain a competitive edge. Zero-emission electric drive refers to a propulsion system or powertrain that produces no harmful emissions during operation. For instance, in May 2023, J.C. Bamford Excavators Limited, a UK-based manufacturer of heavy construction machinery, introduced six new electric drive scissor platforms. These innovative models, including the S1932E, S2632E, and S3246E, feature electric drive motors that replace traditional hydraulic systems. This transition results in up to a 53% longer run time on a single battery charge, a 48-50% reduction in hydraulic connections, increased torque for enhanced traction, and platform heights ranging from 5.71m to 13.8m. The introduction of these new electric drive scissor lifts reflects JCB's commitment to productivity, efficiency, and sustainability in the access equipment industry, offering customers lower charging costs and a reduced total cost of ownership.
In February 2022, Stertil Group, a Netherlands-based industrial lift manufacturing company, acquired Nussbaum Custom Lifts GmbH and Nussbaum World Lifts GmbH from Nussbaum for an undisclosed amount. This acquisition enhances Stertil Group's investment in high-quality vehicle lifting solutions for the global car maintenance, repair, and service markets, catering to both private and public workshops and original equipment manufacturers. Nussbaum, a Germany-based automotive lift manufacturing company, specializes in the production of scissor lifts.
Major companies operating in the scissor lift market report are Linamar Corporation, Terex Corporation, Manitou BF, Palfinger AG, JLG Industries Inc., Genie Industries, Zhejiang Dingli Machinery Co. Ltd., Haulotte Group, Aichi Corporation, MEC Aerial Work Platforms, Niftylift Ltd., Ballymore Co., Bronto Skylift Inc., Snorkel Lifts, OilQuick AB, CTE Group, Advance Lifts Inc., Dinolift, Hunan Sinoboom Heavy Industries Co. Ltd., Custom Equipment LLC, CMC Lift srl, Falcon Lifts, Hunter Equipments, Palazzani Industrie SpA, Sky Autotech, Technosys Equipment Pvt. Ltd., Mass Lifts Solutions.
North America was the largest region in the scissor lift market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the scissor lift market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the scissor lift market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The scissor lift market consists of sales of rough terrain scissor lifts, stationary scissor lifts, specialized scissor lifts, and compact scissor lifts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Scissor Lift Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on scissor lift market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for scissor lift ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The scissor lift market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.