The latest research report from IBISWorld has been released, with plenty of interesting insights for the aerial lift market.
Based on a buyer power score of 3.0 out of 5.0, aerial lifts are given a certain score to figure out how well they’re being purchased and sold in the industrial marketplace.
The latest score is firmly in the “medium” range. This means that buyers in the aerial lift market have a mid-range level of power during the negotiation process. How do buyers gain extra power during the purchasing process? 2 main reasons: low prices and plenty of imported aerial lifts to choose from. According to IBISWorld spokesperson Deonta Smith, “The market’s high level of concentration and low level of substitutes, however, negatively impact buyer power.”
If prices are fairly low and stable, buyers have the added benefit of taking time to make a sound purchase. Smith also added, “Buyers can take time in making their purchasing decisions without fear of major price spikes in the near future,” adds Smith.
What does the immediate future hold for the aerial life market? For the next three years, prices are expected to rise at a faster pace as input costs increase due to rising steel prices.
One reason prices won’t rise too much is due to a large number of imported aerial lifts. Since imports are cheaper than U.S. produced aerial lifts, that will help buyers limit purchasing costs into 2016, 2017 and beyond.
This impacts aerial lift jobs. If lifts are expensive, an employer might try to limit costs in the workforce. And that means less hiring for aerial lift operators. This information is helpful for anyone in the job market.
To make yourself stand out against other job candidates, you’ll need the latest safety training. Aerial Lift Certification offers Guided, Self-Paced, and Group Training for you and your company. Learn at your own pace, and then print out your credentials. It’s never been easier to become OSHA certified!
You can find more info about ALC on our contact page, or speak with a training specialist at (888) 278-8896. Thanks for checking out our blog – visit again for more updates that impact the aerial lift industry.