Vertical Platform Lift Industry - Regional Synopsis
APAC Market Forecast
Asia Pacific industry is set to account for largest revenue share of 45% by 2037, The region showcases dynamic growth owing to increased infrastructure development, rising urbanization, and a growing emphasis on accessibility. The region’s expanding aging population has led to greater demand for mobility solutions, augmenting market growth. For instance, As of May 2022, China had 1,175 infrastructure projects in development or operation, valued at more than USD 25 million. Additionally, government initiatives focusing on inclusive infrastructure and compliance with accessibility standards further propel the market. Technological advancements and the adoption of innovative solutions continue to drive market expansion in countries like China, Japan, India, South Korea. The burgeoning construction sector, coupled with the need for inclusive designs in designs in buildings, amplifies the demand for vertical platform lifts across commercial, residential, and public infrastructure projects.
North American Market Statistics
North America vertical platform lift market is poised to attain significant growth during the forecast period. With a heightened focus on accessibility and inclusivity, propelled by stringent regulations, the demand for vertical platform lifts has surged. The region’s aging population has significantly contributed to the market’s expansion, along with increased urbanization and infrastructure development.
