Burgeoning number of high-rise buildings and rental system to propel revenue sales in construction lifts market. EMEA construction lifts market to witness significant growth with increasing number of social events enabling in expansion of customer-base.
Expanding Product Portfolio to Be the On-Going Strategy of Construction Lifts Market Players
Growing number of investments are made by manufacturers in construction lifts market with burgeoning number of residential and commercial high-rise projects. Several manufacturers are also engaging themselves in small-scale projects that results from residential development results, which in turn leads to introduction of affordable solutions for SMEs (small and medium-sized enterprises, developers and smaller construction companies.
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Alimak Group AB:The construction lifts market player has received an order for explosion-proof elevator from EPC Company Aibel in Norway. Equinor’s Johan Sverdrup requires this elevator for its Phase II project and the order value is expected to be nearly MSEK 27. The explosion-proof elevator as well as lift shaft will be beneficial for transportation of goods and personnel in process area on platform. The delivery of this equipment is expected by end of 2019. With increasing number of projects, Alimak Group AB is likely to increase the demand and supply of construction lifts, thereby boosting the revenue sales of global market.
Böcker Maschinenwerke GmbH:The construction lifts market player has developed over 10,000 construction lifts, thereby increasing exports and expanding product portfolio for including lifts for the furniture transport purposes. By introducing aluminium crane technology, the company has been setting milestones for future years. The company has been constantly setting new standards for lifting and crane technology. This in turn, is expected to significantly benefit construction lifts market on a major basis.
CABR Construction Machinery Technology Co., Ltd:The construction lifts market player lately developed optimally designed new type of gantry mini hoist which is inclusive of gears, drive devices, winding devices, wire ropes and pulleys. With the development of this new product, growing customer needs for economic efficiency and design quality has been significantly improved. These efforts by the company is expected to benefit the global market in the long run with revenue growth.
SMEs to Play a Significant Role in Boosting Revenue Sales in Construction Lifts Market
Development of smart cities are exponentially driving the demand and supply for construction lifts. Demand for the construction equipment on rent in small and medium sized enterprises has been witnessed as comparatively high and therefore, leading players in equipment manufacturing sector are taking immense efforts in renting construction lifts. This in turn makes rental system to gain significant traction in construction lifts market. Surging number of new construction activities and need for building refurbishment is expected to drive the revenue growth of construction lifts market with incremental benefits offered by the product such as efficient and quick features, which in turn saves labor cost and time. However, dearth of skilled labor and high-cost incurred in the preventive maintenance are likely to hinder the growth of construction lifts market.
EMEA to Showcase Lucrative Growth with Increasing Number of Events
Rapidly increasing construction activities in commercial and residential sectors is spurring the growth of North America construction lifts market. Middle East and Africa construction lifts market is expected to increase at a rapid pace with rising number of events in the region such as Dubai and Qatar Expo 2020 as well as FIFA World Cup 2022. Europe and Middle East and Africa is expected to showcase a notable growth in construction lifts market with increasing number of commercial projects for expanding office space in regions such as Milan and Germany. Rapidly increasing number of investments in improving infrastructure by Saudi Arabia will further stimulate the growth of EMEA construction lifts market.
Bifurcation of Construction Lifts Market Is Broadly Done By End-Use and Product Type
Based on end-use, construction lifts market is being divided into
- Non Residential
Based on product type, construction lifts market is being divided into
- Work Platform
- Material Hoists
- Construction Hoists
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Construction lifts market research report displays wide-ranging valuation of the global market as well as holds thoughtful data along with industry-certified and statistically favored market data. The global report comprises of estimates by means of appropriate approaches and assumptions on a major basis. Moreover, construction lifts market research report offers information and study according to the market bifurcations such as industry, end-uses and geography.