Stratview Research has published a new market research report titled Aerial Work Platform Market. According to the report, the Aerial Work Platform Market is Segmented by Product Type (Boom Lifts, Scissor Lifts, Vertical Mast Lifts, and Personal Portable Lifts), Engine Type (Electric, Engine-Powered), by End-User Type (Construction, Retail, Storage, and Warehouses, Transportation and Logistics, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Stratview Research has concluded that the aerial work platform market was estimated at USD 17.59 billion in 2022 and is likely to grow at a CAGR of 6.17% during 2023-2028 to reach USD 25.26 billion in 2028.
What is an aerial work platform?
An aerial work platform (AWP) is a mechanical employed to provide temporary access to unreachable or elevated areas. Also known as aerial lifts or elevated work platforms, these platforms enable users to perform tasks at a certain height with safety. Scissor lifts, boom lifts, vertical mast lifts, etc. are a few types of aerial work platforms.
COVID-19 IMPACT
The aerial work platform market witnessed negative growth due to the Covid-19 pandemic in the year 2020. The pandemic has led to supply chain disruptions which ultimately lead to supply shortages and lower demand for the aerial work platform market.
Market Dynamics
There are several factors contributing to the growth of the global aerial work platform sector. Below given are a few -
- Growing real estate sector – The construction industry is one of the major end-users of aerial work platforms. The global real estate sector is growing rapidly and is expected to grow in the coming years too owing to the growing urbanization. This growth in turn demands more investment in the aerial work platform.
- Increasing Renewable Energy Projects: The renewable energy sector is growing faster than ever. It is estimated that by 2035, renewables will generate 60 percent of the world’s electricity. Wind farms, solar installations, etc. are growing rapidly to meet this demand. Aerial work platforms are utilized for maintenance and installation tasks in these projects contributing to the global aerial work platform market growth.
- Growing electric aerial work platform demand – Construction projects are growing rapidly and worldwide, there has been a demand for zero-emission control work solutions, and hence the electric aerial work platforms are increasing. Recently, in May 2023, JCB launched a full electric boom lift and updated its hydraulically driven scissor range with six electric drive versions.
- Rising airport constructions – According to the center for Aviation report published in January 2023, ~225 new airport projects broke the ground. A large number of aerial work platforms are used for cleaning, maintenance, and inspection work during such large-scale work at airport premises. Hence, rising airport projects are expected to lead to the requirement for different types of aerial work platforms.
Key players
The key players active in the Aerial Work Platform Market mentioned in the report are as follows -
- Advance Lifts, Inc.
- Aichi Corporation
- EdmoLift AB
- Galmon (S) Pte Ltd
- Haulotte Group
- JLG Industries
- Linamar Corporation
- MEC Aerial Work Platforms
- Terex Corporation
- Wiese USA
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
FAQs in the Report-
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About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries. With this report, Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected] or connect with our experts at - +1-313-307-4176.
