Aerial Lifts Procurement Category Market Research Report from IBISWorld has Been Updated

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The average price has slightly increased over the past three years due to a rebounding construction sector. For these reasons and to help procurement professionals make better buying decisions faster, business intelligence firm IBISWorld has updated a report on the procurement of Aerial Lifts in its growing collection of procurement category market research reports.

IBISWorld procurement market research
Input prices are anticipated to increase over the next three years; likewise, demand is anticipated to further rise, leading to higher product prices.

Aerial lifts have a buyer power score of 3.0 out of 5. This score signifies that buyers in the aerial lift market have a medium level of power during the negotiation process. Buyers derive power primarily from low price volatility and a high availability of imported aerial lifts. “The market's high level of concentration and low level of substitutes, however, negatively impact buyer power,” says IBISWorld procurement analyst Deonta Smith.

While prices for aerial lifts have trended upward during the past three years, the increase has been marginal and price volatility has been extremely low. “Buyers benefit from a low level of price volatility because it means they can take time in making their purchasing decisions without fear of major price spikes in the near future,” adds Smith. “Favorable price trends and low volatility boost buyer power for aerial lift products.” During the next three years, however, prices are forecast to rise at a faster pace as input cost increase on the back of rising steel prices.

Higher availability of imported aerial lifts has also proved beneficial to buyers because imported products are generally far less expensive than their domestic counterparts and have helped keep average prices down over the past three years.

Conversely, a high level of market share concentration and low availability of substitutes limit buyers' negotiating power. Although a wide range of vendors offers aerial lifts, only a few, including JLG and Terex Corporation, dominate the market, providing large-scale distributors with leverage to control prices. Additionally, the lack of substitutes for aerial lifts narrows the buyer's scope of possibilities. If a buyer is not satisfied with its distributor, procuring products from a manufacturer may be the only alternative available. The lack of alternatives to aerial lifts reduces a buyer's leverage during the negotiation process. For more information, visit IBISWorld’s Aerial Lifts procurement category market research report page.

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IBISWorld Procurement Report Key Topics

This report is intended to help buyers of aerial lifts. Aerial lifts are elevated work platforms that include boom lifts, scissor lifts, vertical mast lifts and personal portable lifts. They may be stationary, towed or mounted on trucks. Suppliers within this sector generally sell aerial lifts to contractors, rental firms and home improvement professionals.

Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics

About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld Inc.
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