Global Scissor Lift Market Analysis & Trends - Industry Forecast to 2030
Scissor Lift: Market Size
From $4,518.82 million in 2024, the global Scissor Lift market is projected to reach $8,361.11 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 10.8% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include rising concerns regarding worker safety and speed up construction projects, the growing demand for robust indoor and outdoor construction activities, and the time-saving ability of the scissor lift.
Global Scissor Lift Market: Market Dynamics
Growing demand for construction, rising urban population, supportive government initiatives for smart cities, rising demand for advanced technology integrated scissor lifts, and increasing focus on infrastructural development are the factors driving the market growth.
On the other hand, the high cost of new types of equipment is likely to obstruct the profit boundaries. In addition, the growing popularity of hybrid and electric lifts will further boost the Scissor Lift market.
Impact of COVID-19 on Scissor Lift
COVID-19 pandemic has shut down the production of various products in the scissor lift industry attributed to the lockdown in countries worldwide. This has hampered the growth of the scissor lift market. The major demand for scissor lifts was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and India, which were negatively impacted by the spread of the coronavirus, thereby, declining the demand for a scissor lift. Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on their cash reserves. Scissor lift manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses, whereas few players adopted employee lay-offs to sustain during the COVID-19 health crisis. Scissor lift manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
By Engine
Electric Scissor Lift Segment Dominate the Market in 2024
The electric scissor lift segment made huge revenue in 2024 during the forecast period owing to the number of benefits provided through the electric scissor lift in industrial and commercial sectors such as zero emissions and low noise over the operation of the lift. Also, substantial digital application support will offer a positive outlook for the scissor lift market.
By Geography
Asia pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period due to the rising trends of a scissor lift in various industries such as construction. Furthermore, the region is expected to witness significant growth over the forecast period owing to rising disposable income, growing population, and the resulting pressure on carrier infrastructure in the telecommunication industry in the Southeast Asian countries.
List of the Key Players Profiled in the Market Include: • Terex Corporation
• Tadano Ltd.
• Zoomlion Heavy Industry Science and Technology Co., Ltd.
• Sany Heavy Industry Co., Ltd
• Altech Industries
• XCMG Construction Machinery Co., Ltd.
• Kobelco Construction Machinery Co., Ltd.
• Toyota Industries Corp
• Econo Lift, Ltd.
• Titan Worldwide, Inc.
• Aichi Corp
List of the Regions/Countries Profiled in the Market Include: North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France
• Spain
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• New Zealand
• Rest of Asia Pacific
Middle East
• Saudi Arabia
• UAE
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others