Scissor Lift Market size is expected to cross USD 6 Billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of scissor lift was around USD 3 Billion. An increasing number of internet consumers and an increased number of e-commerce platforms can be considered the reason for market growth. In turn, as a result of the expansion of e-commerce, demand for scissor lifts to be used in warehouses is also likely to increase due to the increasing number of logistics companies, courier services, and internet transport marketplaces. In 2025 it is estimated that there will be about three billion online shoppers.
Other factors that are said to be a factor leading to the growth of the scissor lift market include increased use among construction workers. Bridges and massive buildings have made the need for hydraulic systems even more pressing. A seasonally adjusted annual rate of USD 1,825 billion is anticipated for construction spending in January 2023 in the United States, according to data from the U.S. Census Bureau. It is anticipated that the expanding construction sector would boost demand for scissor lifts.
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~ 8% |
|
Base Year Market Size (2022) |
~ USD 3 Billion |
|
Forecast Year Market Size (2035) |
~ USD 6 Billion |
|
Regional Scope |
|
Growth Drivers
Challenges
Industry (Warehouse, Manufacturing, Construction)
The construction segment is estimated to hold 38% share of the global scissor lift market in the year 2035. The increasing construction of high-rise buildings is also a factor contributing to this segment's growth. A scissor lift, which provides a safe, solid barrier and a rising platform, allows personnel to carry out precise operations at high altitudes, from close inspections to cable connections. In India, Mumbai is the country's most densely populated city with nearly 200 skyscrapers and close to 12,000 buildings in high-rise construction.
Product Type (Hydraulic, Mechanical, Pneumatic)
The hydraulic segment in the scissor lift market is expected to hold 45% of the revenue share in the year 2035. A hydraulic scissor lift is a convenient solution if anyone needs to lift something heavy, as it is reasonably simple to use and doesn’t require much training from users. It can be easily used in factories and warehouses, without any additional expenditure on the training of the workers.
Our in-depth analysis of the global scissor lift market includes the following segments:
|
Engine |
|
|
Lift Height |
|
|
Product Type |
|
|
Movement Type |
|
|
Industry |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this Report
North American Market Forecast
The North America region is poised to be the largest with a share of about 37% by the end of 2035. The increase in online shopping trends is primarily to blame for market growth, which will probably lead to a boom in the logistics sector as regards home deliveries. In the United States, 70% of all purchases are made online. In the US in total, by 2022 there will be 268 million online shoppers and this figure is projected to grow to 285 million between 2025 and 2025. Moreover, the market growth in North America is being driven by an increasing construction industry in the United States. The number of US building permits rose by about 14 % to around 2 million at an adjusted annual rate between February and March 2023.
APAC Market Statistics
The Asia Pacific region is estimated to be the second largest, registering a share of about 31% by the end of 2035. Increasing production capacity in this region is a major factor behind the market's growth. In India, there were around 240,000 manufacturing units in which production has been increasing and is expected to reach approximately 250,000 by 2020. However, market growth is also set to be driven by an increase in the number of online shoppers. It is no surprise to see so many digital customers there, given that China is the most populous country in the world and a number of major e-commerce companies are located within its borders
Author Credits: Mohd Shadab, Yashika Karodiwal
Ans: Increasing adoption of automated machinery, rising use of scissor life in various sectors, such as construction, transportation & logistics, and others are the major factors driving the market growth.
Ans: The market size of scissor lift is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Terex Corporation, AICHI CORPORATION, DINOLIFT OY, HAULOTTE GROUP, Holland Lift international, Sinoboom Intelligent Equipment Co., Ltd, Snorkel, and others.
Ans: The construction segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?