NEW YORK, Oct. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces the Release of the Global Vertical Mast Lifts Industry Report – https://www.reportlinker.com/p06033234/?utm_source=GNW
9% over the analysis period 2020-2027. Construction, one of the segments analyzed in the report, is expected to register a CAGR of 7.8% and reach $639.4 million by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the transport and logistics segment is adjusted to a revised annual growth rate of 6.9% for the next 7 years.
The US market is valued at US$242.4 million while China is forecast to grow at 10.9% CAGR
The US vertical pole elevator market is valued at US$242.4 million in 2020. China, the second largest economy in the world, is forecast to reach a projected market size of US$308.9 million by the year 2027, at a CAGR of 10.9% over the 2020-2027 analysis period. Among the other notable geographic markets include Japan and Canada, which are forecasting growth of 4.2% and 5.8%, respectively, over the period 2020-2027. Within Europe, growth of approx. 5.2% CAGR is forecast for Germany. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach US$193.6 million by 2027.
Government segment is expected to post 5.8% CAGR
In the global government segment, the US, Canada, Japan, China and Europe will drive the 5.8% CAGR estimated for this segment. These regional markets, which collectively represent a market size of US$93.8 million in 2020, will reach a projected size of US$136.4 million by the end of the analysis period. China will remain one of the fastest growing in this cluster of regional markets. Latin America will expand at a CAGR of 6.2% over the analysis period.
Select competitors (total 23 presented) –
aichi
Altec
Bronto Skylift
CTE
dingly
Handler special
Haulotte
JLG
Palfinger
Ruthman
Read the full report: https://www.reportlinker.com/p06033234/?utm_source=GNW
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