Increasing the number of urban and rural infrastructure projects to meet the needs of the increasing population around the world is generating endless growth avenues for the aerial work platforms market. According to Future Market Insights (FMI), the aerial work platform market is expected to surpass US$ 7.09 Bn by 2021. The demand for aerial work platforms is increasingly growing in the general infrastructure and manufacturing sectors. It has become popular between small & giant construction firms and maintenance agents.
In addition, massive government spending on infrastructure projects such as highways, rail, water conservation, and power generation is likely to create lucrative business opportunities over the next few years. However, low availability of qualified machine operators and massive costs incurred during the procurement of equipment are some of the factors that might impede the growth.
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Moreover, the rapid development for equipment from myriad industries has pushed manufacturers to sell technically fitted instruments such as electrification and hybridization technology, thus further widening the potential of development over the near future for the market for aerial work platforms. Scissor lifts are likely to remain highly preferred, accounting for over half of aerial work platform sold through 2031.
Key Takeaways of Aerial Work Platforms Market Study
- Between 2021 and 2031, the aerial work platform market will expand at a CAGR of 12.0%
- The U.S. will emerge as a highly lucrative pocket, accounting for over 90% of North America market in 2021, in terms of value
- The U.K. will exhibit steady growth post slowdown in 2020. FMI projects it to record above 1.5% Y-o-Y growth in 2021
- Rising construction spending will continue supporting demand from Germany and France
- Investment in infrastructural development will boost growth in Japan, South Korea, and China
“While investment towards technological improvements remains a key focus, key market players are expected to mostly rely on rental businesses to expand their footprint. Besides this, some of the companies are incorporating sensors in aerial work platforms to help them detect potential obstruction averting risk of accidents on site,” said a lead analyst at FMI
An aerial work platform (AWP) are commonly used for all kinds of maintenance and construction activities, especially when it needs to be done at a certain height. It is used extensively in maintaining overhead lines in the power and telecommunications and in arboriculture industries. Aerial work platforms might even have advanced features including access and transport, including electrical outlets and compressed air connectors for power tools. It can also be fitted with specialized equipment, such as window glass frames and underbridge units for lifting operators to a certain height required for any working location.
In its latest report, Future Market Insights (FMI), an ESOMAR-certified market research and consulting company, offers insights into key factors driving demand for the Aerial Work Platform in its recent analysis, market research and consulting firm. The study tracks global marine sales in 20+ high-growth markets, in addition to analyzing the impact COVID-19 has had on Aerial Work Platform in general, and Aerial Work Platform in particular.
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By Segment:
Product Type
- Boom Lifts
- Scissor Lifts
- Truck/Crawler Mounted Lifts
- Push Around Aerial Work Platforms
- Spider Lifts
- Others
Platform Working Height
- Below 10 Meters
- 10 to 20 Meters
- 20 to 30 Meters
- Above 30 Meters
Fuel
- Gas/ Diesel
- Electric
- Hybrid
End User
- Industry
- Construction
- Mining
- Transportation and Logistics
- Manufacturing
- Aerospace and Defence
- Others (Utility, Government etc.)
- Rental Providers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa
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Among various kinds of aerial work platform available in the market, the demand for scissor lifts is expected to remain significantly high. This category wil hold the major revenue share in the market and are expected to retain their lead over the forecast period as they are flexible devices that are used by utilities, manufacturing, warehousing, and shipping industries. Boom lifts will emerge as the second-leading segment because they are more versatile than scissor lifts. Boom lifts can be operated by a hydraulic arm to move around obstacles easily and also can achieve greater heights than to scissor lifts.
Scissor lifts however are expected to remain dominant through the forecast period. Scissor lifts are suitable for indoor maintenance or building activities outdoors. Scissor lifts are preferred in quieter working conditions and are often engine powered.
Key Players:
Some of the leading companies operating in the aerial work platforms market are
- Terex Corporation
- J C BAMFORD EXCAVATORS Ltd.
- Aichi Corporation
- Haulotte Group
- Linamar Corporation
- Hunan Sinoboom Heavy Industry Co. Ltd.
- Manitou Group
- Tadano Limited
- Zhejiang Dingli Machinery Co., Ltd.
- OSHKOSH CORPORATION
- MEC AERIAL WORK PLATFORMS
- PALFINGER AG
- IMER INTERNATIONAL SpA
- MANTALL HEAVY INDUSTRY CO.,LTD
- NOBLELIFT INTELLIGENT EQUIPMENTCO.,LTD