Construction Lift Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2023
The Construction
Lift Market is majorly
driven by the increase in the investments in the construction of commercial
buildings. The market is also driven by the growth in new construction and
renovation activities that are being led by the aging of old building structures.
The strict rules and regulations introduced for the safety of workers at
construction sites, are also leading to the increased use of construction lifts
during the construction activities in both residential and non-residential
sector.
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Key Players:
The key
Players of Global Construction Lift Market include Alimak Group AB (Sweden),
Fraco Products Ltd (Canada), XL Industries (France), Maber (Nottingham),
STROS(Czech Republic), Electroelsa SRL (Italy), GAOLI Engineering Machinery Co.
ltd (Jiangsu), GEDA USA, LLC (U.S.), Ningbo Hongda Elevator Co. Ltd. (China),
KAISAB Company Ltd. (Saudi Arabia), KONE Corporation (Finland) and
others.
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Market
Research Analysis:
Based on all
types of products, the Construction lift market has been segmented as
construction hoists, material hoists, work platforms and others. The
construction hoists segment is expected to grow with the highest rate during
the forecast period. Its growth can be attributed to the emerging needs of
maintenance and repair work, which develop as building structures mature.
The material hoist segment is expected to be driven by the emerging trend
of construction of high rise buildings.
Based on applications, the construction lift market
has been segmented as residential and non-residential. The non-residential
segment is expected to grow the fastest during the forecast period. The growth
can be attributed to the rapid improvement in the construction activities for
commercial buildings, offices and other industrial structures. Various factors
are leading to the increased demand for office spaces such as overall
development of global economy and stable monetary situations among others,
which is leading to an increased growth of construction lift market for the
non-residential segment.
Scope of the Report:
This study
provides an overview of the global construction lift market, tracking two
market segments across four geographic regions. The report studies key players,
providing a five-year annual trend analysis that highlights market size, volume
and share for North America, Europe, Asia Pacific (APAC) and Rest of the World
(ROW). The report also provides a forecast, focusing on the market
opportunities for the next five years for each region. The scope of the study
segments the global Construction lift market by its product, application and
region.
By Product:
- Construction Hoists
- Material Hoists
- Work Platforms
- Others
By Application:
- Residential
- Non-Residential
By Region:
- North America
- Asia Pacific
- Europe
- Rest of the World
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