Global Construction Lifts Market 2017-2021
About Construction Lifts
The construction lift comprises either one or a couple of cabs (cages) that travel vertically along stacked mast tower structures. The mast areas are connected to the structure or building at every 25 feet (7.62 meters) for additional stability. For correctly controlled travel along the mast segments, modern construction lifts utilize a motorized rack-and-pinion framework that moves the mast segments at different velocities. Though hoists have been overwhelmingly manufactured in Europe and the US, China is emerging as a manufacturer of construction lifts.
Technavio’s analysts forecast the global construction lifts market to grow at a CAGR of 7.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global construction lifts market for 2017-2021. To calculate the market size, the report considers the revenue generated from construction lift sales worldwide for 2016.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Construction Lifts Market 2017-2021
Technavio recognizes the following companies as the key players in the global construction lifts market: Alimak, Fraco Products, XL Industries, Maber, and STROS.
Other Prominent Vendors in the market are: AVRO Hoist Company, Böcker Maschinenwerke GmbH, CABR Construction Machinery Technology, DE JONG Hoists (Aus), Electroelsa, GAOLI Engineering Machinery, GEDA-USA, Ningbo Hongda Elevator, KAISAB, KONE, PEGA HOIST, RAXTAR, SAEClimber, SALTEC Elevation Solutions, and TEA International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is adoption of high-speed construction hoists. The vertical conveyance of materials and work on construction sites are mostly accomplished by utilizing construction lifts, tower cranes, and cement pumping frameworks. In any case, the expanding number of elevated structure ventures worldwide has presented new difficulties in the vertical conveyance.”
According to the report, one driver in market is increasing investments in construction of high-rise buildings. For skyscraper construction, lifts are an essential transportation equipment for laborers, equipment, and material for the construction activities. They are important and necessary equipment as they oversee lifting workers and material efficiently. The number of lifts is based on the height of the building, construction sequence, and the interference with the building. Hence, new skyscrapers have a direct impact on the construction lifts industry. The expanding rate of urbanization in late decades has seen a quickened pace in the development of skyscrapers and tall structures worldwide, especially in the emerging economies of the world. The shortage of land in the thickly urbanized parts of the world is a key economic driver for the development of tall structures.
Further, the report states that one challenges in market is insufficient skilled labor. Numerous construction laborers are retiring, and the rate of retirement is set to rise by 20% in advanced economies where most of the workforce are over 50 years of age, and approximately around 10% are in their 60s. The industry is also losing out to competing sectors where work is more stable and pay is more competitive. With a maturing workforce and a poor pipeline of youngsters, the global construction lifts market may confront a skills crisis in the next decade. Construction lift and rental companies are already reporting huge deficiencies in obtaining skilled labor that is directly affecting their productivity. Failure to discover qualified laborers is hindering both construction activity and expanding costs.
Alimak, Fraco Products, XL Industries, Maber, STROS, AVRO Hoist Company, Böcker Maschinenwerke GmbH, CABR Construction Machinery Technology, DE JONG Hoists (Aus), Electroelsa, GAOLI Engineering Machinery, GEDA-USA, Ningbo Hongda Elevator, KAISAB, KONE, PEGA HOIST, RAXTAR, SAEClimber, SALTEC Elevation Solutions, and TEA International.