Aerial Lifts Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Electric, Engine Powered), By Application (Construction, Mining, Warehousing & Logistics, Others), By Product (Boom Lifts, Scissors Lifts, Cherry Picker, Spider Lift), And By Geography - Forecasts From 2022 To 2027
- Published : Dec 2022
- Report Code : KSI061612947
- Pages : 143
The aerial lifts market is expected to grow steadily during the forecast period.
Aerial lifts have replaced ladders and platforms on many sites because of their mobility and flexibility. It is used as a means of cable transport in which cabins, cars, or open chairs are pulled above the ground using the cables. Aerial lift systems are generally used in mining and mountainous regions where roads are very difficult to build. These lift systems can be easily moved and are used to cross rivers and canyons. It is also used to handle building maintenance, painting, trimming trees, installing heating, ventilation, and air conditioning services, and inventory management. Aerial lifts are establishing a firmer foothold in the industrial and construction sectors due to the high maintenance of the assets. It is mainly utilized by real estate management companies, manufacturers, construction companies, maintenance service providers, and warehouses. The growth of the market can be attributed to rapid urbanization, an increase in the construction of high buildings, an increase in the number of smart cities, and an increase in investment in the construction market. However, the limited availability of trained operators, high costs, and accidents associated with aerial lifts is a concerns for market growth.
Scissor lifts to drive growth
Working at heights is a vital part of the success of a construction or maintenance project. However, aerial access operations can often result in mishaps when there is a lack of training or proper equipment. Scissor lifts are thus, the preferred equipment for accessing massive heights without fear of any mishap. A scissor lift is regarded as a safe and reliable aerial work platform for workers. The OSHA (Occupational Safety and Health Administration) has implemented standards that employers are required to maintain to protect workers against any possibility of hazards associated with scissor lifts. Further, various kinds of scissor lifts are already covered under OSHA’s scaffolding standard. This is thus expected to boost the growth of the scissor lifts segment of the market. In saturated markets, such as North America and Western Europe, technologically advanced equipment is mostly preferred for any job. Thus, OSHA and other associations have developed several standards, which promote the growth of the scissor lifts market.
Japan puts a great impetus on safety standards and due to the presence of a large number of OEMs in the region, it requires a large number of these types of equipment for a wide variety of applications, which is further expected to boost the growth of the market. The largest market by far for scissor lifts is estimated to be North America. For instance, in the US, the ANSI (American National Standards Institute) standards were introduced, following the identical CSA standards that were adopted in Canada. This aided in forming a relationship between safety and productivity in the access market, which represented a new era across the region. Thus, the implementation of these safety standards is expected to help in promoting the use of scissor lifts, which in turn is projected to drive the overall market growth.
Development in construction activities to drive market growth
India is projected to gain traction in the market over the analyzed period as key manufacturers are estimated to gain a competitive edge by delivering cost-effective and environment-friendly products. This can be attributed to the country’s increasing construction activities will considerably support this growth. According to the National Investment Promotion and Facilitation Agency, called Invest India, the construction market of India is projected to emerge as the third largest in the world by the year 2025. This, increasing investment in construction activities and infrastructural development is expected to be a key factor enabling market growth in India.
Further, the impetus to the construction sector by Brazil’s government is expected to create growth opportunities for the market. The government of Brazil has launched an infrastructure concession program, aimed at developing the country’s power transmission lines, railway, country’s port, roads, and sanitation. Adding to this, programs such as Plano Decenal de Expansao de Energia 2026 and Minha Casa Minha Vida, which are other government initiatives supporting infrastructural development in the country, are expected to create lucrative opportunities for the aerial lifts market.
Furthermore, Germany is also projected to be a major market owing to the constantly rising demand from the nation’s construction sector, which acts as a key growth enabler. According to Destatis, the Federal Statistics Office, the construction industry turnover improved by over 2% in October 2020 in the country, and the trend is expected to continue through the analyzed period, creating lucrative opportunities for the aerial lifts market.
COVID-19 Insights
Due to the outbreak of the COVID-19 pandemic, the entire world was forced to go on a shutdown, causing all labor-intensive activities to come to a halt. Owing to the government regulations to save the people from the pandemic, there emerged a compulsive need to mechanize the labor-dependent work sectors. Factors like the shortage of labor and raw materials resulted in various problems in the development and design of new equipment. All of this created a drastic gap in the industrial supply and demand, impacting the revenues of market players. Numerous factories were shut down, and cross-countries trade restrictions were imposed. Thus, all these factors negatively affected the aerial lift market.
Aerial Lifts Market Scope:
Report Metric | Details |
Growth Rate | CAGR during the forecast period |
Base Year | 2020 |
Forecast Period | 2022–2027 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Type, Application, Product, And Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | Snorkel lifts, Terex Corporation, JLG Industries, Inc, NIftylift (UK) Limited, Teupen USA, Inc., MEC Aerial Work Platforms, Altec Inc., Manitou Group, Skyjack Inc., Tadano Ltd., Aichi Corporation |
Customization Scope | Free report customization with purchase |
Segmentation:
- By Type
- Electric
- Engine Powered
- By Application
- Construction
- Mining
- Warehousing & Logistics
- Others
- By Product
- Boom Lifts
- Scissors Lifts
- Cherry Picker
- Spider Lift
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
- Middle East and Africa
- UAE
- South Africa
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Thailand
- Taiwan
- Others
- North America
Frequently Asked Questions (FAQs)
The global aerial lifts market is expected to grow steadily during the forecast period.
Prominent key market players in the global aerial lifts market include Snorkel lifts, Terex Corporation, JLG Industries, Inc, NIftylift (UK) Limited, Teupen USA, Inc,. and MEC Aerial Work Platforms, among others.
Aerial Lifts Market has been segmented by type, application, product, and geography.
The aerial lifts market growth can be attributed to rapid urbanization, an increase in the construction of high buildings, an increase in the number of smart cities, and an increase in investment in the construction market.
2020 has been taken as the base year in the aerial lifts market.
1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. AERIAL LIFTS MARKET BY TYPE
5.1. Introduction
5.2. Electric
5.3. Engine Powered
6. AERIAL LIFTS MARKET BY APPLICATION
6.1. Introduction
6.2. Construction
6.3. Mining
6.4. Warehousing & Logistics
6.5. Others
7. AERIAL LIFTS MARKET BY PRODUCT
7.1. Introduction
7.2. Boom Lifts
7.3. Scissors Lifts
7.4. Cherry Picker
7.5. Spider Lift
8. AERIAL LIFTS MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Others
8.5. Middle East and Africa (MEA)
8.5.1. UAE
8.5.2. Saudi Arabia
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. South Korea
8.6.4. India
8.6.5. Indonesia
8.6.6. Thailand
8.6.7. Taiwan
8.6.8. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Snorkel lifts
10.2. Terex Corporation
10.3. JLG Industries, Inc
10.4. NIftylift (UK) Limited
10.5. Teupen USA, Inc.
10.6. MEC Aerial Work Platforms
10.7. Altec Inc.
10.8. Manitou Group
10.9. Skyjack Inc.
10.10. Tadano Ltd.
10.11. Aichi Corporation
Snorkel lifts
Terex Corporation
JLG Industries, Inc
NIftylift (UK) Limited
MEC Aerial Work Platforms
Altec Inc.
Manitou Group
Skyjack Inc.
Tadano Ltd.
Aichi Corporation
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