The environment friendliness of electric lifts and the development in new power hybrid engines drives the growth.
WILMINGTON, DELAWARE, UNITED STATES, March 21, 2024 /EINPresswire.com/ — Aerial work platforms (AWPs) are essential equipment utilized across various industries including construction, retail, warehousing, utilities, and more. These versatile devices, known by several names such as mobile elevating work platforms, aerial lifts, cherry pickers, and bucket trucks, come in different types like scissor lifts, articulated and telescopic boom lifts, as well as vehicle-mounted platforms. By enabling safe working at heights, AWPs mitigate the risks associated with traditional equipment like scaffolding platforms.
The global aerial work platform market size is expected to reach $14.3 billion in 2027 from $9.3 billion in 2019, growing at a CAGR of 7.7% from 2020 to 2027. In 2019, North America dominated the market, in terms of revenue, accounting for 44.0% share of the global aerial work platform market.
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The North American market dominates the aerial work platform industry, with the United States leading with an approximate 83.0% share within the region. This dominance stems from the early adoption of AWPs in the region and the high demand for them in routine construction and maintenance operations. Moreover, advancements in AWP technology, particularly in emission control and the transition to full-electric operation, have fueled their popularity in the European market, driving rapid development and adoption.
According to the type, the boom lifts have maximum contribution in the aerial work platform market mainly due to their versatility and high efficiency. In addition, boom lifts are available in telescopic as well as articulating boom types, which allow the use of boom lifts in horizontal as well as vertical directions. In addition, boom lifts offer greater working heights, which assist in surging their demand in the construction and utilities industry.
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Segmentation Based On:
The global aerial work platform market is segmented into, type, operation, lift height, end-user industry, and region. Based on type, the market is classified into boom lifts, scissor lifts, vehicle mounted platforms, and others. According to operation, it is categorized into fuel powered, electric, and hybrid. By end-user industry, the market is classified into construction, utilities, logistics & transportation, and others. Based on lift height, the market is fragmented into less than 20 feet, 20 to 50 feet, 50 to 70 feet, and above 70 feet.
Regional Analysis:
The global aerial work platform market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period, and Asia-Pacific is expected to grow at the fastest rate.
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Top Players:
The major players operating in the aerial work platform industry include Aichi Corporation, Altec Inc., Haulotte Group, J. C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Terex Corporation (Genie), Teupen, and Zhejiang Dingli Machinery Co., Ltd.
Key Findings Of The Study
By type, the boom lift segment dominated the aerial work platform market share in 2019.
On the basis of operation, the fuel powered segment is expected to generate high revenue, globally.
By lift height, the 20 to 50 feet segment dominated the aerial work platform market during 2019.
Depending on end-user industry, the construction segment garnered major share of the aerial work platform market in 2019.
Region wise, North America dominated the market in 2019.
Asia-Pacific is expected to witness a high growth rate during the forecast period.
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David Correa
Allied Market Research
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