Scissor lift market size is set to surpass USD 4 billion by 2027, according to a new research report by GMI Inc. Scissor lifts are witnessing a significant demand owing to the growing need for efficient material handling and roof construction activities. Market players are investing in R&D for innovative equipment development.

Several governments are investing in infrastructure development to accelerate the growth of their economy with rising population and urbanization. For instance, in November 2020, the Government of Mexico announced 29 new infrastructure projects with an investment of USD 11.1 billion.

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The number of tunnel projects being funded for road construction is increasing, which is motivating business owners to create machinery that satisfies local demands. To increase their revenue from the scissor lift market, businesses like Genie (Terex Corporation) and Aichi Corporation are introducing new products for certain industries.

The requirement of heavy initial investments is the key factor challenging the market expansion. Additionally, rising incidents of equipment falling from steep surface due to mishandling and machine failure are hampering their net sales. The oils need to be replaced frequently, and hydraulic system faces oil leakage issues often in the pumping system. OEMs are integrating telematics systems into their equipment to allow owners to monitor and plan the maintenance of their scissor lifts.

The overall growth of the scissor lift market has been adversely affected by the COVID-19 virus outbreak. The disruption in the global production and supply chain is primarily to blame for the shortage of raw materials, body parts, and electronic chips that industry leaders are currently experiencing. The OEM market demand is being impacted by the temporary suspension of construction activities and the lack of labour.

High engine power and efficient material handling are boosting the engine-powered scissor lifts sale

In 2020, around 40% of the scissor lift market share held by engine-powered lifts in Europe, with over 10,000 new units sold. Due to high horsepower capacity, diesel-powered engines offer maximum working height as compared to electric-powered equipment. Moreover, their wider availability across the globe is playing a key role in improving their statistics.

The engine-powered equipment is experiencing a remarkable demand impelled by its ability to perform versatile operations. Companies such as Skyjack Inc., Zhejiang Dingli Machinery Co., Ltd., and Holland Lift International by, are launching new diesel engine equipment to stay competitive in this market.

Shifting construction companies’ focus toward economical and environment-friendly construction & mining

The construction sector in North America held more than 25% of the revenue share in 2020. Industry players are participating in the exhibitions to advertise their products to potential customers related to the construction sector to enhance their brand identity. For instance, in September 2021, Zoomlion Heavy Industry Science and Technology Co., Ltd. displayed its latest innovations at China-Africa Economic and Trade Expo in Hunan Province, China. The company showcased its different construction equipment including electric scissor lift and self-propelled booms to enhance its market.

Growing investments in the Asia Pacific public and private construction sectors

The Asia Pacific scissor lift market is expected to reach around USD 1 billion by 2027. The high demand in the region can be attributed to growing investments in the private & public sectors by government and construction companies. The proliferation of infrastructure development projects by several APAC nations, such as India, China, Australia, and Japan, will create robust market opportunities.

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Industry participants are expanding their operations to potential markets to accelerate their net sales. The companies, such as Haulotte Group, Hunan SINOBOOM Heavy Industry Co., Ltd., and Snorkel, Inc., are adopting various business strategies such as mergers & acquisitions to expand their regional operations.

Major scissor lift market players include Zoomlion Heavy Industry Science and Technology Co., Ltd., Zhejiang Dingli Machinery Co, Ltd., Snorkel, Tadano Limited, Skyjack, Hunan Sinoboom Heavy Industry Co. Ltd., Aichi Corporation, JLG Industries, Inc., Dinolift OY, Haulotte Group, and Terex Corporation (Genie).

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