Construction Lift Market Expected to Grow at 7% Annually by 2023

Market Highlights:

Market Research Future published a half cooked research report on Construction Lift Market. Global Construction Lift Market is expected to grow over the CAGR of around 7% during the period 2016 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.

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.

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.

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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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