Aerial Work Platform Market Growing at a CAGR of 7.7% Key Insights by 2027
The development in electric and hybrid engines can open new growth prospects for the ever-growing demand for aerial work platforms.
Aerial work platform (AWP) are personnel lifting devices used in industries such as construction, retail, warehousing, utilities, and others. Aerial work platforms are also called as mobile elevating work platforms, aerial lifts, cherry pickers, bucket trucks, and others, and are available in various types such as scissor lifts, articulated and telescopic boom lifts, vehicle mounted platforms, and others. Moreover, aerial work platforms assist in working on heights, which reduces the risk of accidents caused by older equipment such as scaffolding platforms and others.
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.
Major Key Players of the Aerial Work Platforms Market are:
Aichi Corporation, Altec Inc., Haulotte Group, J.C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Teupen, and Zhejiang Dingli Machinery Co., Ltd.
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The global Aerial Work Platforms report offers quantitative and qualitative analysis of the market from 2021 to 2030. The qualitative study emphasizes on the value chain analysis, pain point analysis, and key regulations.
• Value chain analysis: AMR offers a complete analysis of all the stages along with the key stakeholders functioning in every stage with their strategic decisions on board.
• Key regulations: Allied Market Research provides key regulations and standards for the Aerial Work Platforms Market. The section also presents some of the regulatory documents of the product type.
• Pain point analysis: The report also offers insights on the key challenges faced by the stakeholders in the industry. The strategic decisions adopted by the market players to maintain their foothold in the market are also discussed through the report.
COVID-19 Impact Analysis on the global Aerial Work Platforms:
The outbreak of the pandemic has had a huge impact across the globe, which impeded the socio-economic development. Therefore, the Aerial Work Platforms Market report doles out a micro- and macro-economic assessment of the industry throughout the pandemic. The study further provides a qualitative breakdown of the impact of Covid-19 on the market.
The zero turn mower market is segmented on the basis of application, product type, horsepower, and region. On the basis of application, the market is divided into residential, prosumer, and commercial. On the basis of product type, the market is divided into less than 50 Inches, 50 to 60 Inches, and more than 60 Inches. On the basis of horsepower, the market is divided into less than 15 HP, 15-25 HP, and more than 25 HP.
Extract from Industry Today