DUBLIN, May 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Construction Lifts Market 2017-2021" report to their offering.
The analysts forecast the global construction lifts market to grow at a CAGR of 7.43% during the period 2017-2021.
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 report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
- Fraco Products
- XL Industries
Other prominent vendors
- AVRO Hoist Company
- Böcker Maschinenwerke GmbH
- CABR Construction Machinery Technology
- DE JONG Hoists (Aus)
- GAOLI Engineering Machinery
- Ningbo Hongda Elevator
- PEGA HOIST
- SALTEC Elevation Solutions
- TEA International
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by end-user
Part 08: Geographical segmentation
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/3tjzqw/global
Laura Wood, Senior Manager
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SOURCE Research and Markets