Precedence Research’s latest report on the global aerial work platforms market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global aerial work platforms market size was valued at US$ 9.7 Billion in 2019 and is projected to reach US$ 19.90 Billion by 2027, rising at a market growth (CAGR) of 9.4% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for aerial work platforms market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Aerial Work Platform (AWP) is cost-effective as well as easy to use that has resulted into escalating adoption of AWP in various sectors that include repair, maintenance, manufacturing, construction, and other industrial sectors. The aforementioned factor expected to fuel growth of the global AWP market in the coming years. In addition, persistent rise in the demand for AWP from construction sector has led to an increased focus of market players on product enhancement and development that contributes as another key factor anticipated propelling the market growth for aerial work platform.
Moreover, growing demand for flexible equipment and automation in several industries projected to boost the market growth for AWP. Furthermore, mandatory safety standards from governments of various countries along with enhanced infrastructure of AWP expected to drive the AWP market growth in the near future.
Apart from this, increasing awareness related to safety issues coupled with AWP increasing cost are some of the major factors likely to hamper the growth of the global aerial work platform market. For instance, scissor lifts and electric-powered lifts incorporated with advance features have higher price range as compared to traditional towers and ladders.
In terms of consumption and demand, North America was projected as the front-runner in the global Aerial Work Platform (AWP) market and projected to hold significant value share in the year 2019. Rapid growth in infrastructural projects at the residential as well as commercial areas is one of the important factors that results in escalating growth of AWP demand. In addition, availability of potential disposable income along with rapid adoption of equipment such as AWP to maintain safe and secure working environment for workers boosts the adoption of these platforms in this region.
Besides this, Europe expected to follow North America in terms of volume utilization of the AWP owing to significant growth in the construction of residential and commercial buildings in the region. Further, the industries present in this region are more inclined towards the safety improvement of workplaces coupled with workflow process optimization to uphold an efficient process.
- In 2019,North America dominated the global market in terms of revenue and volume both followed by Europe owing to rising construction activity in the regions.
- The Asia Pacific emerged as the most lucrative region in the global market owing to presence of numerous under-developed regions that offer significant development opportunities for construction and transportation infrastructure
- Boom lifts dominated the product segment in the global market accounting for nearly 70% of value share due to the rising demand of boom lifts because of their fast & flexible operations
- Based on platform height, below 10 meters segment exhibits prominent growth its increasing utilization in the in-house maintenance & construction activities
- By type, electric Mobile Electric Work Platform (MEWP) held nearly 65% of the value share in the year 2019, as they are helpful in reducing carbon footprint
- Rental application has gained notable traction in the recent past in the AWP industry owing to the emergence of numerous market players providing rental service across the globe
Key Players of the global aerial work platforms market are:
- Aichi Corporation
- Haulotte Group
- Dinolift OY
- Hunan Runshare Heavy Industry Company, Ltd.
- Zhejiang Dingli Machinery Co, Ltd.
- Holland Lift International bv
- JLG Industries
- Hunan Sinoboom Heavy Industry Co. Ltd.
- Niftylift Limited
- Manitou Group
- Tadano Limited
Segments Covered in the Report:
- Engine Powered
- Scissor Lifts
- Boom Lifts
- Personal Portable Lifts
- Vertical Mass Lifts
By Platform Height
- Above 25 Meters
- 20 to 25 Meters
- 10 to 20 Meters
- Below 10 Meters
- Construction & Mining
- Transportation & Logistics
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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