Construction Lifts Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

“The Construction Lifts Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth USD 472.15 million and CAGR of 6% by segment Product, End-user and Geography during the forecast period 2022 to 2027” 

Furthermore, this report extensively covers market segmentation by product (construction hoists, material hoists, and work platforms), End-user (non-residential, residential, and others), and geography (North America, Europe, APAC, MEA, and South America). The market report also offers information on several market vendors, including lima Group AB, Fraco Products Ltd., GEDA USA LLC, KONE Corp., Maber Hoist Srl, Mohawk Industries Inc., Nidec Corp., Oshkosh Corp., STROS - Sedlcanské strojírny AS, and XL Industries Inc.

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Parent Market Analysis

Technavio categorizes the Construction Lifts Market as a part of the Industrials industry within the Machinery industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

Construction Lifts Market: Key Drivers, Trends, and Challenges

Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the smart room heater industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge. 

Key Construction Lifts Market Driver

One of the key factors driving growth in the market is the increasing investments in the construction of high-rise buildings. For skyscraper construction, lifts are essential transportation equipment for labourers, equipment, and material for construction activities. They are important and necessary equipment as they oversee lifting workers and materials efficiently. The number of lifts is based on the height of the building, construction sequence, and interference with the building. Hence, new skyscrapers have a direct impact on the construction lift industry. The expanding rate of urbanization in the late decades has seen a quickened pace in the development of skyscrapers and tall structures worldwide, especially in the emerging economies of the world. The shortage of land in the thickly urbanized parts of the world is a key economic driver for the development of tall structures. The competition for developing the tallest building in a city, nation, locale, or the world is another driver for the development of tall structures worldwide.

Key Construction Lifts Market Challenge

Insufficient skilled labour will be a major challenge for the market during the forecast period. Numerous construction labourers are retiring, and the rate of retirement is set to rise by 20% in advanced economies where most of the workforce is over 50 years of age, and approximately around 10% are in their 60s. The industry is also losing out to competing sectors where work is more stable and pay is more competitive. With a maturing workforce and a poor pipeline of youngsters, the global market may confront a skills crisis in the next decade. Construction lift and rental companies are already reporting huge deficiencies in obtaining skilled labour that is directly affecting their productivity. Failure to discover qualified labourers is hindering both construction activity and expanding costs. The lack of labour can be seen in advanced economies such as New Zealand, where there has been a boom in the construction industry. 

Construction Lifts Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Who are the Major Construction Lifts Market Vendors?

Alimak Group AB - The company offers construction lifts brands such as Alimak SE, Alimak SE-H, and Alimak SL. Through the Construction Equipment segment, the company designs develop, manufactures and distributes standard and custom-built hoists mainly for temporary installations. Through the Industrial Equipment segment, the company designs develop, manufactures and distributes standard and custom-built elevators and maintenance units mainly for permanent installations.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• Alimak Group AB
• Fraco Products Ltd.
• GEDA USA LLC
• KONE Corp.
• Maber Hoist Srl
• Mohawk Industries Inc.
• Nidec Corp.
• Oshkosh Corp.
• STROS - Sedlcanské strojírny AS
• XL Industries Inc.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.

Which are the Key Regions for Construction Lifts Market?

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34% of the market’s growth will originate from APAC during the forecast period. China is the key market for construction lifts in APAC. Market growth in this region will be faster than the growth of the market in other regions.

APAC is a huge market for construction lifts as the economies in the region are experiencing rapid urbanization. However, with rising urbanization and various steps taken by APAC governments, the market is expected to grow significantly. China is the largest market in the region, owing to new skyscrapers that have been proposed in the region. That country is also anticipated to be the largest contributor to industry growth during the forecast period. Other developing economies, such as India and Indonesia, are experiencing rapid urbanization and an increase in disposable incomes. Such factors should boost the construction of high-rise structures in these countries. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 affected the growth of several industries in the region, including the construction industry, as several construction projects were delayed or cancelled due to economic downturns, disruptions in supply chains, and uncertainties in the growth of the construction industry. Construction activities in India were halted due to the outbreak of the second wave of COVID-19. Several states in the country are under either a partial or complete lockdown, which is disrupting construction activities. These factors will impact the demand for construction lifts in the region in 2021. However, the recovery of economies from the COVID-19 crisis will propel the growth of the regional market during the forecast period.

What are the Revenue-generating Product Segments in the Construction Lifts Market?

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The market share growth by the Construction hoists segment will be significant during the forecast period. The market vendors, by utilizing robust modular designs and a range of intelligent features in construction hoists, improve safety and deliver a reliable and efficient means of vertical transport across construction sites. For instance, Alimak Group design and build construction hoists that offer a wide range of capacities including various payload capacities, car sizes, lifting heights and speeds. The construction hoist segment is the largest segment of the global construction lift market. The strong demand for construction hoists is firmly identified with repeating fluctuations in the construction industry. Also, the segment is expected to be driven by strong demand in maintenance and repair works, which develop with the volume and maturing age of buildings. The global trend of constructing high-rise buildings is also likely to drive the segment's growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

Construction Lifts Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 6%
Market growth 2021-2025	$ 472.15 million
Market structure	Fragmented
YoY growth (%)	4.97
Regional analysis	North America, Europe, APAC, MEA, and South America
Performing market contribution	APAC at 34%
Key consumer countries	China, US, Germany, UK, and Canada
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Alimak Group AB, Fraco Products Ltd., GEDA USA LLC, KONE Corp., Maber Hoist Srl, Mohawk Industries Inc., Nidec Corp., Oshkosh Corp., STROS - Sedlcanské strojírny AS, and XL Industries Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Construction Lifts Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the construction lifts industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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