Scissor Lift Rental Market
Scissor Lift Rental Market Analysis by Electric and Engine-powered in Less than 10 Meters, 10 to 20 Meters, and More than 20 Meters Height from 2023 to 2033
Analysis of Scissor Lift Rental Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Scissor Lift Rental Market Growth Outlook (2023 to 2033)
Scissor lift rental services are gaining traction and are poised to grow at a rate of 6.5% during the forecast period and reach a valuation of US$ 3,837 million in 2033 from US$ 2,044 million in 2023.
Scissor lifts are aerial work platforms that feature a lifting mechanism composed of crisscrossing metal supports, resembling a pair of scissors, hence the name.
The scissor lifts rental market has witnessed significant growth in recent years due to the increasing construction and maintenance activities, growing emphasis on workplace safety, and the cost advantages of renting over purchasing have contributed to the expansion of the market.
Report Attributes | Details |
---|---|
Scissor Lift Rental Market Size (2022A) |
US$ 1,919.8 Million |
Estimated Market Value (2023E) |
US$ 2,044.6 Million |
Forecast Market Value (2033F) |
US$ 3,837.9 Million |
Global Market Growth Rate (2023-2033) |
6.5% CAGR |
US Market Growth Rate (2023-2033) |
6.7% CAGR |
China Projected Market Value (2033F) |
US$ 917.3 Million |
Key Companies Profiled |
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Historic and Future Pathway Analysis for the Scissor Lift Rental Market
A scissor lift, also called a scissor platform lift, is a type of aerial work platform (AWP) that uses a scissor mechanism to raise a platform to a desired height. Scissor lifts are typically used for indoor and outdoor maintenance and construction tasks, and are powered by either electricity or diesel.
Scissor lifts are made up of two vertical frames that are connected at the top by a platform. The frames are raised and lowered by hydraulic cylinders, which extend and retract the frames like a pair of scissors. The platform is typically made of metal or aluminum and is extended to provide a wider working area.
Scissor lifts are a versatile and safe way to access elevated work areas. They are easy to operate and require little training, and they are equipped with safety features such as guardrails, platform locks, and audible warning systems.
- Short Term (2023-2026): Growing construction and infrastructure development activities to drive the scissor lift rental market. A scissor lift is required to transport material vertically as well as do maintenance or repair work at height. Renting a scissor lift enables users to save on cost and also rent as per requirement based on construction activities, thus, creating a growth area for the scissor lift rental services market.
- Medium Term (2026-2029): With the growing e-commerce industry across the globe especially across emerging economies likely to create immense growth opportunities for the scissor lift rental service providers. As an e-commerce giant has to maintain huge warehouses to meet the end-user’s requirement, creating demand for the scissor lifts, and driving the growth of the scissor lift rental market.
- Long Term (2029-2033): Shift towards electric energy to power machines and automation has brought numerous changes to industrial operations. With the growing adoption of electrical scissor lifts the demand for maintenance and other services are likely to increase which paves the way for rental services, in order to reduce overall operational cost creating lucrative opportunities for the rental service demand growth
On the back of the aforementioned facts, the scissor lift rental market is expected to grow at a CAGR of 6.5% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.
Market share analysis of scissor lift rental based on the power source and region is provided in a nutshell in the above image. Under the power source segment, the electric sub-segment dominates with an 69.1% market share in 2023.
Market Dynamics Outlook
“Growing Construction Industry Drives Scissor Lift Rental Services Demand”
The growing construction industry has a significant impact on the demand for scissor lift rental services.
- The volume of construction output is projected to grow by 85.1% to reach US$ 15.5 trillion worldwide by 2030. This indicates a substantial expansion in construction activities across various regions.
- China, the US, and India are identified as the key contributors to global construction growth, accounting for 57% of the overall increase.
As construction activities increase, the demand for vertical construction also rises. Tall buildings, skyscrapers, and multi-level structures become more prevalent. Such projects require efficient access to heights for various construction and maintenance tasks, including installing facades, conducting repairs, painting, and electrical work.
Scissor lifts are widely used in the construction industry to provide safe and reliable vertical access to elevated areas. They offer a stable platform for workers, tools, and materials, allowing them to reach higher levels of construction sites. Scissor lifts are versatile and are used in both indoor and outdoor construction projects.
Purchasing scissor lifts and maintaining them is expensive, making rental services a practical choice for numerous construction companies. Renting scissor lifts allows construction businesses to access the required equipment without incurring the full cost of ownership, including maintenance, storage, and depreciation expenses. Rental services provide flexibility, as construction projects have varying durations and requirements.
“Factors Affecting the Growth of the Scissor Lift Rental Market”
With the growing demand for scissor lift rental services, more companies are likely to enter the market, leading to increased competition. This puts pressure on rental prices, potentially affecting the profitability of existing rental service providers.
Further, regular scissor lifts are able to reach only upto a certain height and have limited maneuverability, hence, the availability of multifunctional solutions restrains the steady adoption of the scissor lift and also negatively affects the scissor lifts rental market.
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Country-wise Insights
What are the Factors Driving Scissor Lift Rental Demand Across China?
China has experienced a significant boom in e-commerce, leading to a surge in demand for warehouses and distribution centers. As online shopping continues to grow, more warehouses are required to store and manage inventory.
Warehouses in China are increasingly adopting vertical storage solutions to maximize space utilization. Multi-level racking systems and high shelves require effective access equipment to retrieve and store goods.
Scissor lifts provide a stable platform for workers to access these elevated areas, ensuring efficient utilization of vertical storage space and enhancing warehouse productivity. Renting a scissor lift enable warehouse owners to save on overall operational and management cost of the lifts and switch as per requirement.
The Chinese scissor lift rental service market is likely to create an absolute $ opportunity of US$ 473.8 million from 2023 to 2033, growing at a CAGR of 6.8%.
Why Indian Scissor Lift Rental Market is flourishing?
The expected growth of India's urban population by 165 million by 2030 signifies a massive shift of people from rural areas to cities. This urbanization leads to increased construction activities to accommodate the growing population and their needs for housing, commercial spaces, infrastructure, and other amenities.
Due to the growing urbanization, India's construction market is projected to grow almost twice as fast as China's by 2030 it becomes a significant engine of global growth in emerging markets. The construction sector in India is expected to witness a surge in demand, leading to an expansion of construction projects across the country.
As India's cities expand and population densities rise, there is a need for vertical development, including high-rise buildings, commercial complexes, residential towers, and infrastructure projects like bridges and highways. Scissor lifts play a crucial role in these vertical construction projects by providing safe and efficient access to elevated areas for tasks such as installation, maintenance, and repairs.
Renting a scissor lift offer an attractive solution for construction companies as they can access the required equipment without the upfront costs of ownership. Rental services provide flexibility and scalability, allowing companies to optimize resources based on project requirements and durations. This is likely to create growth opportunities for the scissor lift rental service providers in the Indian market.
The Indian scissor lift rental services market is likely to grow from US$ 161.5 million to US$ 314.7 million in 2033, growing at a rate of 6.9% from 2023 to 2033.
Category-wise Insights
Why Demand for Electric Scissor Lift is increasing?
Electric scissor lifts are known for their eco-friendliness as they run on batteries instead of combustion engines. They offer several advantages for indoor use, such as zero exhaust emissions and reduced noise levels during operation. Electric scissor lifts are designed to be compact and have narrower platforms compared to their diesel counterparts.
To prevent floor damage, they are equipped with non-marking tires, making them ideal for interior applications. Many governments are also implementing regulations and offering incentives to promote the use of electric vehicles and equipment, including scissor lifts.
Electric scissor lifts have witnessed advancements in battery technology, resulting in longer runtimes and improved performance. Modern electric scissor lifts offer comparable or even superior lifting capacities, reach, and stability compared to traditional lifts. Hence, the electrical scissor lift demand for rental purposes is mushrooming over others.
The electric scissor lift is likely to witness high demand and grow at a rate of 6.8% during the forecast period creating an absolute $ opportunity of US$ 1,409.9 million by the end of 2033.
How the Growing Transportation and Logistics Industry Drives Scissor Lift Rental Service Market?
The transportation and logistics industry heavily relies on warehouses for the storage, sorting, and distribution of goods. Warehouses often have high shelves and racks to maximize vertical space. Scissor lifts are essential equipment for efficient inventory management and order picking in warehouses, allowing workers to access elevated storage areas safely and quickly.
Loading and unloading goods from trucks and containers require elevated access to ensure smooth and efficient operations. Scissor lifts provide a stable platform for workers to access the height of trucks and containers, enabling them to load and unload goods with ease. Rental services allow transportation and logistics companies to access scissor lifts as needed, based on their loading and unloading requirements, thus, creating immense growth opportunities for the scissor lift rental services providers to explore and expand.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Eminent Player’s Key Stratagems
Prominent players operating in the scissor lift rental service market are Boels Rental, Coates Hire Limited, Kennards Hire, Loxam Group, Speedy Hire PLC, Sunbelt Rentals, and United Rentals Inc.
Market players focus on enhancing their consumer base by adopting digital platforms to embark on their presence and establish trade relations with potential customers. Further, regular maintenance services coupled with portfolio updates with new and advanced scissor lift versions enable market players to curb the demand pool and gain high-profit margins.
Fact.MR has provided detailed information about the key rental service providers of scissor lifts, their total fleet, service portfolio, and revenue growth, in the recently published report.
Segmentation of Scissor Lift Rental Industry Research
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By Power Source :
- Electric
- Engine-powered
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By Height :
- Less than 10 meters
- 10 to 20 meters
- More than 20 meters
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By Mobility :
- Indoor
- Outdoor
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By Capacity :
- Less than 250 Kgs
- 250-500 Kgs
- 500-1000 kgs
- Above 1000 kgs
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By End Use :
- Construction
- Retail, Storage, and Warehouses
- Transportation and Logistics
- Others
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What is the Estimated Growth Rate of the Scissor Lift Rental Services Market?
The rental services market is likely to grow at a CAGR of 6.5% during the forecast period creating an absolute $ opportunity of US$ 1,918.1 million.
Which is the Top End Use Industry Creating Growth Opportunities for the Market?
The construction industry is likely to create immense growth opportunities for the scissor lift rental service market in the coming years, creating an absolute $ opportunity of US$ 1,099.1 million.
At what rate the demand for the Electric Scissor Lift Rental is Growing?
Electric scissor lifts are gaining traction growing at a CAGR of 6.8% during the forecast period.
What was the Global Scissor Lift Rental Market Size Reported by Fact.MR for 2022?
The global scissor lift rental market was valued at US$ 1,919.8 million in 2022.
What is the Estimated Valuation of the Scissor Lift Rental Market in 2033?
The market is expected to reach a valuation of US$ 3,837.9 million in 2033.