Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Scissor Lift Market Overview
Scissor lifts are vehicle mounted machines used to lift a person or any object to reach at very inaccessible places. Scissor lifts are (able to move only in vertical direction) a type of elevated platform machine. These lifts use links folded in a pantograph (crisscross ‘X’ pattern) pattern to achieve its mechanism. Further, the upward vertical motion is achieved by application of pressure on the outside of the lower supports. In addition to this, scissor lifts can be powered by pneumatic, hydraulic or mechanical systems and can perform accordingly. Scissor lifts have a very wide range of application include freight lifts, loading docks, aerospace industries and others.
Market Size & Forecast
The global scissor lift market is anticipated to flourish at a modest growth rate over the forecast period 2017-2024. Global scissor lifts market was valued at USD 670 Million at the end of year 2015 and is expected to behold positive growth over the forecast period. Emerging economics witnessing industrialization and urbanization are anticipated to foster the growth of scissor lift market.
Regionally, global scissor lifts market is segmented into five major regions comprise of North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is anticipated to be the fastest growing market due to high construction activities in this region. China and India are the major contributors towards the growth of scissor lift market in Asia Pacific region. Rapid pace of growth in infrastructure and construction industry and maintenance of existing buildings is expected to increase the demand for scissor lifts in Asia Pacific region over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
North America and Europe scissor lifts market is expected to witness sluggish growth over the forecast period. North America and Europe region have reached to saturation level and anticipated to grow positively but at very slow rate over the forecast period. Latin America and Middle East & Africa regions are expected to witness a satisfactory growth during forecast period.
Market Segmentation
Our-in depth analysis of the global scissor lifts market includes the following segments:
By Product
By Movement Mechanism
By End User
By Region
Global scissor lifts market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Global scissor lifts market is driven by rapid expansion of infrastructure and building construction across the globe. Further, development of new telecommunication tower and rising need for scissor lifts in industries such as aerospace, railway, mining industries are some of the major factors driving the growth of global scissor lifts market.
Wide range of application of scissor lifts in various industries is a major growth driver of global scissor lifts market. Further, technological advancement with scissor lifts to make it more applicable in industries is also driving the growth of global scissor lifts market and expected to escalate the demand in near future. In addition to this, economic growth in emerging countries, increasing investment in construction and government initiatives for the enhancement of infrastructure in developing countries are some of the major factors escalating the demand for scissor lift.
However, the major factors restraining the growth of global scissor lifts market is high cost of new equipment which restricts the end user to maintain the existing lifts and do not invest in new equipment.
Key Players
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