PUBLISHER: The Business Research Company | PRODUCT CODE: 1707152
PUBLISHER: The Business Research Company | PRODUCT CODE: 1707152
Vertical mast lifts are compact and versatile aerial work platforms designed to safely and efficiently lift individuals or small loads to elevated work areas. These lifts are crucial across various industries, offering a secure and effective method for working at heights without the need for larger, bulkier equipment.
Vertical mast lifts come in several types, including electric-driven, engine-driven, and others. An electric-driven vertical mast lift is a specific kind of aerial work platform used for raising personnel or equipment to different vertical heights. Working heights can vary, including ranges of less than 6 meters, 6.1 to 9 meters, 9.1 to 12 meters, and above 12 meters, with capacities including less than 100 kg, 100 to 150 kg, 150 to 250 kg, and above 250 kg. They are utilized by a range of end-users such as those in aviation, construction, mining, media and entertainment, government, industrial manufacturing, warehouse and logistics, among others.
The vertical mast lifts market research report is one of a series of new reports from The Business Research Company that provides vertical mast lifts market statistics, including the vertical mast lifts industry global market size, regional shares, competitors with vertical mast lifts market share, detailed vertical mast lifts market segments, market trends, and opportunities, and any further data you may need to thrive in the vertical mast lifts industry. These vertical mast lifts market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The vertical mast lifts market size has grown strongly in recent years. It will grow from $1.37 billion in 2024 to $1.46 billion in 2025 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to expansion of the construction industry, rise in urbanization, increase in safety regulation enhancements, increase in industrial automation, rise in infrastructure development projects, and the growing need for efficient material handling solutions.
The vertical mast lifts market size is expected to see strong growth in the next few years. It will grow to $1.87 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to growing construction industry, rising demand for efficient material handling solutions, increasing safety regulations, expand in warehousing and logistics sectors, rise in the need for space-saving lifting equipment in urban settings, and increasing focus on worker safety and productivity. Major trends in the forecast period include technological advancements, adoption of IoT and automation, advancements in eco-friendly designs, and advancements in material handling solutions, and automation in equipment's.
The anticipated increase in construction activities is likely to drive growth in the vertical mast lift market. Construction activities involve the planning, execution, and completion of projects aimed at building or renovating structures, infrastructure, and facilities. This rise is often attributed to a robust economy, population growth, increased government-funded public infrastructure projects, and real estate expansion. Vertical mast lifts are valuable in construction due to their compact design, mobility, and ability to safely access elevated work areas. Their role in improving safety, mobility, and efficiency makes them essential on construction sites. For example, the Office for National Statistics (ONS) reported a record high in new construction orders in the UK, with an 11.4% increase in 2022 compared to 2021, reaching £80.837 billion ($102.16 billion). Thus, the growth in construction activities is boosting the vertical mast lift market.
Leading companies in the vertical mast lift market are innovating with self-propelled, tracked aerial work platforms to enhance versatility and performance. Self-propelled technology improves maneuverability, while tracked platforms offer better traction and stability, making these lifts effective for both indoor and outdoor use. For instance, in April 2024, Platform Basket, an Italian aerial lift manufacturer, introduced the Spider 54T, an upgraded version of its Heren 10 vertical mast lift at Intermat, specifically designed for the French market. The Spider 54T is a sophisticated aerial work platform suited for heavy-duty lifting and versatile applications across various industries including construction, infrastructure maintenance, telecommunications, and manufacturing. The redesigned Heron 10 SB for the French market simplifies the original model by eliminating features such as the stabilization system, radio control, interchangeable battery, and winch.
In January 2023, JLG Industries Inc., a US-based producer of aerial work platforms and telehandlers, acquired Hinowa SpA for an undisclosed sum. This acquisition expands JLG's product range, enhancing its specialty applications and increasing its footprint in niche markets such as agriculture, landscaping, and vegetation management. Hinowa SpA, based in Italy, manufactures aerial work platforms including vertical mast lifts.
Major companies operating in the vertical mast lifts market are Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Terex Corporation, Manitou Group, Palfinger AG, Zhejiang Dingli Machinery Co. Ltd., Haulotte Group, JLG Industries Inc., Aichi Corporation, Niftylift Ltd., Altec Industries Inc., Bronto Skylift Oy Ab, Snorkel, Bravi Platforms, Mantall Heavy Industry Co. Ltd., TIME Manufacturing Company Inc., Omme Lift A/S, Skyjack Inc., TEUPEN Maschinenbau GmbH, Sinoboom Intelligent Equipment Co Ltd., CTE Group SA, MEC Aerial Work Platforms, Ruthmann Reachmaster NA LP, Imer International S.P.A, Iteco
North America was the largest region in the vertical mast lifts market in 2024. The regions covered in the vertical mast lifts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the vertical mast lifts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The vertical mast lifts market consists of sales of scissor lifts, boom lifts, and articulated 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.
Vertical Mast Lifts Global Market Report 2025 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 vertical mast lifts 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 vertical mast lifts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vertical mast lifts 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.