Electric Scissor Lift Market By End-User and Geography - Forecast and Analysis - 2022-2026

The electric scissor lift market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 5.92 and a decelerating CAGR of 5.32%, and the market is expected to grow by USD 581.38 million during the forecast period 2021 to 2026.

The research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by end-user (construction, commercial, manufacturing, and others) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The market report also offers information on several market vendors, including Columbus McKinnon Corp., Galmon Pte Ltd, Holland Lift International B.V., Hunan Sinoboom Intelligent Equipment Co. Ltd., Linamar Corp., Manitou BF SA, MEC Aerial Work Platforms, Oshkosh Corp., SANY Group, Snorkel International LLC, Solem SAS, Tadano Ltd., Terex Corp., Toyota Motor Corp, Xuzhou Construction Machinery Group Co. Ltd., Zhejiang Dingli Machinery Co. Ltd., and Zoomlion Heavy Industry Science and Technology Co. Ltd. among others.

What will the Electric Scissor Lift Market Size be During the Forecast Period?

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Electric Scissor Lift Market: Key Drivers, Trends, and Challenges

The growth of the global construction industry is notably driving the market growth, although factors such as the dangers associated with electric scissor lifts may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the electric scissor lift industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Scissor Lift Market Driver

The growth of the global construction industry is notably driving the market's growth. The global construction industry has experienced dramatic changes in the past decade. Developed economies such as the US and the UK are currently facing the problem of ageing infrastructure. Maintenance and renovation operations, along with a shift to sustainable building development and retrofitting practices, are driving the construction market in these countries. Also, green and sustainable building developments have led to significant investments and technological innovations. The overall growth of the global economy is supporting the growth of the global construction industry. The global construction industry has provided huge opportunities for the global market. The increase in government spending, population, per capita income, and economic growth across developing countries has contributed to the growth of the market in the last ten years. With the growing demand for construction, the demand for electric scissor lifts will increase worldwide. Low-interest rates and the favourable global economic environment, along with the increased direct investment from institutional investors, are the factors driving real-estate investments.

Key Electric Scissor Lift Market Trend

The growing demand for emission-free electric and efficient scissor lifts is the primary trend driving the market growth.  Electric scissor lifts attract end-users across the world due to their ease of operations, fewer space requirements, and ease of moving from one place to another. Electric scissor lifts are perfect for interior use because they do not emit fumes and are ideal for indoor use. For space-constrained indoor settings, electric scissor lifts with small work platforms are an additional option. Electric lifts are significantly quieter than engine-driven scissor lifts, and most indoor lifts are equipped with non-marking tires to avoid damage to floors. The ability of electric scissor lifts to perform the operation with low noise and zero emissions, with significant digital application support will provide a positive outlook for the global market. Compared with diesel lifts, electric scissor lifts are extraordinarily quiet, making them perfect for interior use. Electric scissor lifts reduce the risk of hydraulic leaks and dependence on hydraulic oil. Thus, the increasing demand for emission-free electric scissor lifts, which are beneficial for the environment, will drive the growth of the global market during the forecast period.

Key Electric Scissor Lift Market Challenge

The dangers associated with electric scissor lifts are the major challenge impeding the market growth. The biggest risks associated with scissor lifts, according to Occupational Safety and Health Administration (OSHA), are falling from great heights, electrocutions, collapse, tip-overs, and being struck by objects. Workers who work too close to power lines are always at risk of being electrocuted. However, not only those who are positioned high up on the platform are at risk of being electrocuted. Additionally, workers near electric scissors are not safe because the electric shock can be transferred through the machine if it is not properly insulated. Falling from heights is the most common cause of electric scissor lift fatalities. Falls might sometimes result in serious injuries. Operator negligence, carelessness, and the improper use of safety restraints all contribute to falls. Thus, the dangers associated with electric scissor lifts may hamper their adoption, which will impede the growth of the global market during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global electric scissor lift market as a part of the global construction machinery and heavy trucks market. Our 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 market during the forecast period.

Who are the Major Electric Scissor Lift Market Vendors?

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

 

• Columbus McKinnon Corp.
• Galmon Pte Ltd
• Holland Lift International B.V.
• Hunan Sinoboom Intelligent Equipment Co. Ltd.
• Linamar Corp.
• Manitou BF SA
• MEC Aerial Work Platforms
• Oshkosh Corp.
• SANY Group
• Snorkel International LLC
• Solem SAS
• Tadano Ltd.
• Terex Corp.
• Toyota Motor Corp
• Xuzhou Construction Machinery Group Co. Ltd.
• Zhejiang Dingli Machinery Co. Ltd.
• Zoomlion Heavy Industry Science and Technology Co. Ltd.

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented, and the vendors are deploying growth strategies such as technology, quality, price, and product features to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electric Scissor Lift Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the electric scissor lift market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-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.

Which are the Key Regions for Electric Scissor Lift Market?

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41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for electric scissor lifts in North America. Market growth in this region will be faster than the growth of the market in other regions.

The rising construction activities in the region will facilitate the market's growth in North America over the forecast period. 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-19 Impact and Recovery Analysis

In 2020, the COVID-19 outbreak negatively impacted the market in North America. Owing to the rising number of deaths from COVID-19, North American countries, including the US, Canada, and Mexico, implemented nationwide lockdowns, primarily during the first half of 2020. As a result, electric scissor lift manufacturing units were closed, which hampered the growth of the market in North America in 2020. However, in late 2020 and H1 2021, the governments of several countries in the region announced a series of stimulus packages to help industrial units return to normalcy. The resumption of manufacturing operations by electric scissor lift manufacturers and the gradual recovery of end-user industries since Q3 of 2020, along with the increased availability of COVID-19 vaccines and the decrease in the number of cases across the region, will also help drive the growth of the regional market during the forecast period.

What are the Revenue-generating End-user Segments in the Electric Scissor Lift Market?

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The market share growth in the construction segment will be significant during the forecast period. The construction segment was the largest segment of the global market and will continue to remain the largest segment during the forecast period owing to rising construction activities across the globe. Electric scissor lifts provide a movable, adaptable solution for dynamic construction projects that may involve frequently changing environments. 

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.

 

Electric Scissor Lift Market Scope
Report Coverage	Details
Page number	129
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 5.32%
Market growth 2022-2026	$581.38 million
Market structure	Fragmented
YoY growth (%)	5.92
Regional analysis	North America, Europe, APAC, the Middle East and Africa, and South America
Performing market contribution	North America at 41%
Key consumer countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Columbus McKinnon Corp., Galmon Pte Ltd, Holland Lift International B.V., Hunan Sinoboom Intelligent Equipment Co. Ltd., Linamar Corp., Manitou BF SA, MEC Aerial Work Platforms, Oshkosh Corp., SANY Group, Snorkel International LLC, Solem SAS, Tadano Ltd., Terex Corp., Toyota Motor Corp, Xuzhou Construction Machinery Group Co. Ltd., Zhejiang Dingli Machinery Co. Ltd., and Zoomlion Heavy Industry Science and Technology Co. Ltd.
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, and 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 Electric Scissor Lift Market Report?

• CAGR of the market during the forecast period 2022-2026
• 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 electric scissor lift industry across North America, Europe, APAC, the Middle East and Africa, 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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