Global Construction Lifts Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Construction Lifts Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global construction lifts market report has been segmented on the basis of product type, application, and region.

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Global Construction Lifts Market: Overview

Construction lift is a lifting machinery that features an aerial platform supported by an extension and mounted on a vehicle. Construction lifts helps for the speedy and efficient transfer of laborers and materials. Construction lifts are extensively used on construction sites to smoothen the workflow.

Global Construction Lifts Market: Dynamics

Increasing construction activities including healthcare, education, and other non-residential construction activities and growing investments in building refurbishment and construction activities are expected to fuel demand for the target product. In addition, stringent regulations for the safety of workers along with development of buildings owing to aging structures are some other factors expected to drive growth of the construction lifts market. Moreover, renovation and reconstruction activities of residential and non-residential buildings and rising construction of high rise buildings are some factors expected to drive growth of the global construction lifts market over the forecast period. Also, integration of IoT and increasing usage of mobile technology along with increasing number of smart cities are another factors expected to boost demand and drives growth of the target market.

A recent trend observed in the target market is construction lifts are increasingly used in building refurbishment projects in order to offer efficient, quick, and reasonable temporary access to a wide range of maintenance activities.

However, high maintenance cost of construction lifts is a major factor that may hamper demand for the product and restrain growth of the target market.

Global Construction Lifts Market: Segment Analysis

Among the product type segments, the construction hoists segment accounts for major share in the global market. This is attributed to increasing construction of high-rise buildings.

Among the application segments, the non-residential segment is projected to hold major revenue share in the global market. Growing number of construction activities in offices, commercial buildings, and various industrial structures is expected to fuel growth of the target market.

Global Construction Lifts Market: Regional Analysis

Asia Pacific construction lifts market is estimated to hold major share in terms of revenue in the global market and is projected to maintain such trend during the forecast period. Increasing residential and non-residential construction activities and significant investments in the infrastructure sector are some factors expected to drive growth of construction lifts in countries in the region. In addition, rapid urbanization, industrialization, economic growth, increasing disposable income, coupled with increasing investments for infrastructure activities in India and China are some of the major factors expected to drive target market growth.

North America accounts for significant revenue share contribution to the target market. Europe contributes moderate revenue share in the global market and is expected to register significant growth over the next 10 years. Moreover, the markets in Latin America and Middle East & Africa are expected to witness considerable growth rate over the forecast period, owing to huge investments for infrastructure developments.

Global Construction Lifts Market Segmentation:

Segmentation by Product Type

Construction hoists
Material hoists
Work platforms

Segmentation by Application

Residential
Non-residential