What is Platform Lifts Market?
Platform lifts are available in the market with different size and shape according to the customer’s requirement. It is widely used in both indoor as well as outdoor application in residential and commercial buildings. Various advantages associated with the use of platform lifts are moving goods and merchandise, transporting injured people, people who need medical attention and others. Increasing usage of the platform in various application such as residential area, commercial office, and public applications and the growing number of restaurant, mall, and others are some of the major factors which affect the growth of the market in future.
The market study is being classified by Type (Low-Speed platform Lift, Cabin Lift, Enclosed Platform Lift, Open Platform Lift and Wheelchair Platform Stairlift), by Application (Residential Area, Commercial Office and Public Applications) and major geographies with country level break-up.
Dover Corporation (United States), Express Lifts Alliance Limited (United Kingdom), Fujitec Co. Ltd. (Japan), HyundaiElevator (South Korea), Mitsubishi Electric Corporation (Japan), SchindlerElectric (France), Otis Elevator (United States), ThyssenKrupp (Germany), Servelift GmbH (Austria) and Lödige Industries GmbH (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Aritco (Malaysia), Cibes Lift Group AB (Sweden), MPR Lifts AB (Sweden), Motala Hissar (Sweden) and Hiro Lift (Germany).
The market appears to be highly fragmented and with the presence of several companies including Dover Corporation (United States), Express Lifts Alliance Limited (United Kingdom), Fujitec Co. Ltd. (Japan) and others. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Platform Lifts market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Platform Lifts market by Type, Application and Region.
On the basis of geography, the market of Platform Lifts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- High Growth in Disposable Incomes in the Developing and Developed Countries
- Rising Old Age Population and Consumer Inclination towards Leisure Facilities
Market Trend
- Various Key Players are manufacturing on the Development of Platform Lifts such as Cibes Lift Group AB (Sweden), which Provides 1000 Kg A8000 Platform Lifts
Restraints
- The requirement of High Voltage Source for Highly Advanced Platform Lifts and Possibilities of Catching Fire in Some case
Opportunities
- Government Initiative to Uplift the Community of Disabled Peoples Globally
- Growing Demand from Emerging Economics such as China, India, Philippines, and others
Challenges
- A problem regarding Lack of Building Infrastructure Developments in Underdeveloped Regions such as Africa countries
- Issue related to Comparatively Higher Operational Costs than the Lifts
In 2018, the Cibes Lift Group AB (Sweden) Company has launched 400 Kg slow speed passenger lifts and 1000 Kg A8000 Platform lifts. Hence, it will benefit the increased product portfolio of the company.
Key Target Audience
Platform Lifts Manufactures Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others