LONDON--(BUSINESS WIRE)--The global construction lifts market size is expected to grow by USD 426.90 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Construction Lifts Market Analysis Report by Product (Construction hoists, Material hoists, and Work platforms), End-user (Non-residential, Residential, and Others), and Geography (APAC, Europe, North America, MEA, and South America), and the Segment Forecasts, 2020-2024".
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The market is driven by the increasing investments in construction of high-rise buildings. In addition, stringent regulations are anticipated to boost the growth of the Construction Lifts Market.
The expanding rate of urbanization in the last two decades has resulted in the increased development of skyscrapers and tall structures worldwide, especially in the emerging economies. The shortage of land in the thickly urbanized parts of the world is a key economic driver for the development of tall structures. The competition for developing the tallest building in a city, nation, locale, or the world is another driver for the development of tall structures worldwide. High-rise buildings assume a unique part of the urban landscape, serving as a source of municipal pride for neighborhood inhabitants. Construction lifts are essential transportation equipment for laborers, equipment, and material for carrying out construction activities. Thus, the growth in construction of high-rise buildings will drive the growth of the market.
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Major Five Construction Lifts Companies:
Alimak Group AB
Alimak Group AB has business operations under four segments: construction equipment, industrial equipment, after sales, and rental. The company offers a range of construction lifts for all construction requirements such as ALIMAK SCANDO 650, ALIMAK SCANDO 450, HEK TPM 3000T2, and HEK TPM 3000TD.
Fraco Products Ltd.
Fraco Products Ltd. operates its business through two segments: products, and rental and services. The company offers construction lifts in two distinctive work platforms - the ACT-8 and the FRSM-20K. Both models are completely versatile to any designs and states of structures and non-building structures.
GEDA USA LLC
GEDA USA LLC has business operations under three segments: products, services, and rentals. The company offers a range of construction lifts and material hoists such as solar lift, scaffolding hoists, MH 440 material hoist, MH 660 material hoist, MH 660 boiler hoist, and temporary custom lifts.
KONE Corp.
KONE Corp. operates its business through two segments: new equipment sales and service sales. The company offers a wide range of construction lifts such as KONE A MiniSpace, KONE A MonoSpace, KONE U MiniSpace, KONE U MonoSpace, KONE I MonoSpace, KONE I MiniSpace, KONE MiniSpace, KONE Highrise MiniSpace, KONE TranSys, and KONE Bed elevator.
Maber Hoist Srl
Maber Hoist Srl offers builder's hoists for goods, transport platforms, construction hoists, and work platforms. The company offers and delivers construction, material, and passenger hoists with capacity ranging from 1102.31 lb. to 8157.10 lb. with an option for one or two cages on the mast.
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Construction Lifts Market Product Outlook (Revenue, USD mn, 2020-2024)
- Construction hoists - size and forecast 2019-2024
- Material hoists - size and forecast 2019-2024
- Work platforms - size and forecast 2019-2024
Construction Lifts Market End-user Outlook (Revenue, USD mn, 2020-2024)
- Non-residential - size and forecast 2019-2024
- Residential - size and forecast 2019-2024
- Others - size and forecast 2019-2024
Construction Lifts Market Regional Outlook (Revenue, USD mn, 2020-2024)
- APAC - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- North America - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- South America - size and forecast 2019-2024
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