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The scissor lift market size is expected to grow from US$ 3.56 billion in 2022 to US$ 4.37 billion by 2028; it is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
In the coming years, new American National Standards Institute (ANSI) standards are expected to get implemented, which will affect North American products, specifically scissor and mast lifts positively. This means an increase in weight and decreased personnel rating on most machines would be foreseen. These changes are expected to take place owing to more stringent testing under the new ANSI 92.20 guidelines for manufacturers. Therefore, technical advances coming to scissor lifts soon would include active load sensing systems. The load sensing devices on Mobile Elevated Work Platform (MEWPs) will disable the normal elevating functions of the machine and sound/flash an alarm when the MEWP is overloaded. This adjustment to North American equipment comes on the cusp of incoming ANSI standards, but this specific adjustment has been active in international markets for nearly a decade. Changes in guidelines of the machineries are projected to contribute towards the scissor lift market growth.
Globally, scissor lifts are evolving due to changes in the technology used for the functioning of scissor lifts. For instance, Sinoboom has rolled out its electric-drive scissor series. The company’s models range from 4 m to 14 m platform height and are developed to fulfill market demands for energy-efficient and environment-friendly machines. The rising inclination toward environmentally friendly and energy-efficient platforms (both electric and hybrid) is projected to drive the scissor lift market.
Strategic Insights
Regional Analysis of Scissor Lift Market
From the regional perspective, North America holds the third-largest scissor lift market share in 2022. The manufacturing industry plays a vital role in the economy of North America. The region comprises developed nations such as the US and Canada and developing countries such as Mexico.
North America is a hub of technological developments that compliances with economically robust countries. As a result, the manufacturing industry in North America pertains to evolve and remain the principal factor for driving prosperity, jobs, and innovation. With the increasing customer demand for high-quality products and services, companies are on a constant hunt for innovations to serve their customers in the best possible way. Supply chain management is one of the important activities for companies to make available their products to the end consumer, and a strategically managed supply chain helps the companies to reach out to the customer, incurring less costs and in lesser time. The end-user industries of storage solutions in the US demand efficient warehouses where they can store their products.
In February 2020, LiuGong North America introduced four new scissor lifts in the North America market, consisting of two models launched at American Rental Association show in Orlando (the US). The initial entries were the LSC0607DE with a 10-meter platform height and the 5.8-meter platform height LSC1012DE. The company will also start providing MEWPs to the European and Asia Pacific markets in the near future.
Lucrative Regions – Scissor Lift Market Share
Market Insights – Scissor Lift Market
Movement Type-Based Insights
Based on movement type, the scissor lift market size is segmented into mobile and fixed. In 2022, the mobile segment held a larger scissor lift market share. Mobile scissor lifts have widely gained popularity owing to their ability to accommodate flexible production lines. Further, mobile lifts are demanded more in applications involving mobility within the space and transportation of loads where the assembly lines are required to be frequently reconfigured. However, compared to the fixed or stationary lifts, the mobile lift has certain restraints, including the inability to lower collapse (up to 10 inches) and the lack of stability that requires placing the loads appropriately to maintain balance during mobility. Further, the mobile scissor lifts are designed to be more robust, especially the base frame and wheels, since they need to be able to bear heavy loads.
The demand for scissor lifts is increasing at an exponential rate. Apart from wide-ranging updates to fulfill and exceed new US ANSI standards, an upward trend has been witnessed toward using electric rough terrain equipment and micro scissors. Adoption of electric rough terrain equipment and micro scissors are replacing podiums and ladders across the plants and warehouses. This factor will help in boosting the adoption trend of scissor lifts globally and thereby propelling the entire scissor lift market growth.
The scissor lift market players mainly focuses on developing advanced and efficient products.
- In October 2022, Genie rolled out their new Lithium-Ion battery option for a GS E-Drive slab scissor lift, owing to the rising demand for quieter, cleaner, and low-maintenance equipment that can withstand the rigors of construction job locations.
- In November 2022, CanLift Equipment Ltd. declared its product line expansion by introducing two new rough terrain scissor lifts from the leading heavy equipment manufacturing company, XCMG (XCMG is a partner of CanLift Equipment Ltd.) CanLift will have the XCMG XG4390RT and XG5390RT scissor lifts available for sale and rent immediately.
The scissor lift market size is segmented into five major regions North America, Europe, Asia Pacific (APAC), Middle East & Africa, and South America. In 2022, Europe led the market with a substantial revenue share, followed by APAC, whereas MEA is expected to register the highest CAGR in the scissor lift market from 2022 to 2028.
Terex Corporation; JLG Industries; Aichi Corporation; Haulotte Group; Linamar Corporation; MEC Aerial Work Platforms; GALMON (S) Pte Ltd.; Wese USA; Edmolift AB; and Advance Lifts, Inc. are among the key scissor lift market players. The market report provides detailed market insights, which help the key players strategize growth in coming years.