Rise in Global Constructions to Boost the Vacuum Lifter Market | Technavio

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LONDON–()–The global vacuum lifter market is expected to grow at a CAGR of more than 7% during the period 2017-2021, according to a new market research study by Technavio.

The report categorizes the global vacuum lifter market by end-user that includes industrial manufacturing, construction, automotive, and chemical and pharmaceutical. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: rise in global constructions

Vacuum lifters are used at construction sites for handling and movement of building materials such as concrete slabs, girders, sheet metals, pipes, and glass sheets. Consequently, the construction sector makes one of the largest end-users of vacuum lifting equipment and is expected to be the biggest driver for the global vacuum lifter market during the forecast period. The global construction sector witnessed a sharp decline after the housing market crashed in the US in 2008. However, the market has shown substantial growth in several high-value markets such as the US, Australia, and India, over the past few years.

According to Neelesh Prakash Singh, a lead analyst at Technavio for engineering tools research, “Several developing countries in South Asia have a shortage of residential buildings due to the rapid growth in population. Malaysia intends to develop its economy and targets to become a developed nation by 2020. In addition, other countries in South Asia are supporting investments in the construction market through financial incentives, low-interest rates on new projects, and subsidized credit facilities. Hence, the growth in the construction market is expected to drive the global vacuum lifter market.”

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Market trend: adoption of automation in various industries

The rising labor costs and difficulty in finding and retaining skilled labor pose a challenge for several industries, particularly those who require manual labor, such as the construction and manufacturing sectors. This is leading to an increased rate of adoption of automation in several industries. To minimize the cost of labor and increase efficiency at the manufacturing facility or worksite, vacuum lifter manufacturers are developing fully automated handling systems to reduce the level of human intervention. The current glass and construction industry is characterized by the presence of several manual processes.

Market challenge: sluggish growth of automotive industry

Vacuum lifters are used in the automotive assembly lines and during the production process to lift various sections of the vehicle such as body frames, doors, and windows. They are essential for improving the efficiency of production at the manufacturing facility, as they significantly cut down labor costs and improve handling capabilities. The only country to witness significant growth in automotive sales was China, which is also the biggest market for passenger and commercial vehicles.

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Key vendors in the market

  • Aardwolf
  • ANVER
  • Bystronic glass
  • J. SCHMALZ
  • Wood's Powr-Grip

The global vacuum lifter market is characterized by the presence of several medium to small global and regional vendors. The market in most developed countries is mature, but it is acutely underpenetrated in emerging countries. APAC holds the largest share in the global vacuum lifter market owing to the rapid economic growth and infrastructure development in the region. Therefore, several existing vendors are expected to expand their presence in APAC.

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