Rise in Refurbishment Activities to Facilitate Growth of the Global Construction Lifts Market through 2021

Renewable energy

The global construction lifts market is currently valued at around USD 1,141 million and is expected to reach almost USD 1,526 billion by 2021, says Technavio.

Technavio has announced its latest market research report on the global construction lifts market, under its construction portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Alimak, Fraco Products, XL Industries, Maber, and STROS.

According to Likhitha Bandla, a lead analyst for construction research at Technavio, “Construction lifts find application in building refurbishment projects, especially in mast climbers. Mast climbers give quick, efficient, and reasonable temporary access to an extensive variety of maintenance work. Unlike conventional scaffolding, the whole stage moves with labors, thereby enabling operators to invest more energy in other tasks.”

Enhancing the performance of existing structures involves the addressing of a significant number of issues with respect to structures, which are heritage or in a preservation range. It is imperative that useful and dependable data is accessible to bolster sustainable refurbishment as the market shifts from new buildings to major restoration. Such developments in building refurbishment is propelling the demand for construction lifts in the global market.

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Increasing importance of energy efficiency

Cosntruction hoist companies in the global market are adopting energy-efficient techniques in construction lifts to reduce the total cost of ownership. Construction lifts consume a substantial amount of energy in construction sites. The use of green technologies in construction lifts is to reduce energy utilization amid development. For instance, Alimak is currently focusing on the adoption of various new technologies, including helical gearbox to make lifting process more efficient and reduce power consumption, which reduces operational costs.

Greater use of work platforms

Increasing use of mast climbers is gaining traction in the global construction market, especially in the high-rise buildings segment. Mast climbers are used for completing external plastering work as well as skyscraper development. Furthermore, mast climbers are cheaper in terms of owning, assembling, and disassembling costs compared with traditional scaffolding systems. Also, these systems are light on the cost of holding inventories.

This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.

A more detailed analysis is available in the Technavio report titled, ‘Global Construction Lifts Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.

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