North America to Hold Lion’s Share in the Platform Lift Market

North America’s platform lift market is projected to grow at a significant rate on account of shifting preference towards smart technology. Exponential economic growth and improving disposable income have resulted in ample employment opportunities. The high purchasing power of consumers in the region will boost the demand for platform lifts in the coming years.

North America is also backed by the presence of leading players in the platform lifts market. These players have established an extensive distribution and service network for better consumer experience. The availability of a wide range of products with distributors spread across the region provides an impetus to the market growth.

Impact of Covid-19

The COVID-19 pandemic has adversely impacted various industries across the globe. Governments have imposed lockdowns, resulting in a disruption in the supply chain around the world. The platform lift market is severely hit by the ongoing pandemic. The leading market players are focusing on providing automatic sanitization on lifts and are installing LED light technology with anti-bacterial properties. Therefore, the demand for sanitization technology in platform lifts is expected to provide an impetus to the market growth.

Key Highlights

• The platform lifts market is expected to grow with a CAGR of xx% owing to the development of personalized and advanced solutions for consumers
• The residential segment dominates the market on account of the growing population and rising government spending  
• Geographically, Asia-Pacific region dominates the platform lift market strongly supported by the rapidly growing infrastructure activities in the region

Key Players

• Aritco
• Cibes Lift
• Barduva
• Thyssenkrupp Elevator Technology
• Stannah
• Invalifts
• Garaventa Lift
• Gartec
• Bruno Independent Living Aids, Inc.
• Butler Mobility
• Axess2
• Savaria
• The Platform Lift Company
• Otis
• Vestner NZ Limited  

Platform Lift Market: Segmentation

• By Product Type
  • Step or Short Rise Lifts
  • Inclined Lifts
  • Vertical Platform
• By End-Use Type
  • Residential
  • Commercial
    • Shopping Mall and Complex
    • Office Space
    • Institution
  • By Region
    • North America
    • Europe
    • Asia-Pacific
    • South America
    • The Middle East and Africa