Global Construction Lifts Market: Product Segmentation and Forecasts by Technavio

Technavio has published a new report on the global construction lifts market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global construction lifts market is expected to grow at a CAGR of more than 7% during the forecast period.

This research report titled ‘Global Construction Lifts Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

“Lifts are essential equipment for the transportation of laborers, equipment, and material in construction activities. They are important and necessary equipment as they enable lifting of workers and materials in an efficient manner. The number of lifts is based on the height of the building and the construction sequence. Thus, the construction of new skyscrapers will have a direct impact on the construction lifts industry,” says Likhitha Bandla, a lead analyst at Technavio for construction research.

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The market research analysis categorizes the global construction lifts market into three major product segments. They are:

  • Construction hoists
  • Material hoists
  • Work platforms

Global construction lifts market by construction hoists segment

The construction hoist segment is the largest segment of the global construction lifts market accounting for a value of USD 510 million in 2016. The strong demand for construction hoists is firmly identified with repeating fluctuations in the construction industry. Also, the segment is expected to be driven by strong demand in maintenance and repair works, which develop with the volume and maturing age of buildings. The global trend of constructing high-rise buildings is also likely to drive the growth of the segment.

Global construction lifts market by material hoists segment

The strong demand for material hoists is firmly identified with the global trend of construction of high-rise buildings. Material hoists are suitable only for the vertical transportation of equipment and material on construction sites. They offer extra capacities than conventional construction lifts. The material hoists are assembled with similar fundamental components such as mast, drive units, and cabs. They work mostly on rack-and-pinion technology. The strong demand for material hoists is firmly identified with the global trend of construction of high-rise buildings.

Global construction lifts market by work platforms segment

The work platform is the smallest segment in the global construction lifts market, contributing around 17% of the entire market in 2016. Work platforms offer stable and safe workspaces for construction workers when working at a range of heights. In this type of equipment, the work platform is mounted on either one or two mast structures.

“They are preferred over traditional scaffolding systems as they are quicker to assemble and their height can be adjusted. The demand for work platforms in the maintenance and repair activities is expected to be driven by stringent regulations imposed in developed economies,” says Likhitha.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • Alimak
  • Fraco Products
  • XL Industries
  • Maber
  • STROS

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global construction lifts market is expected to grow at a CAGR of more than 7% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com