Aerial Work Platforms Market
Aerial Work Platforms Market Outlook(2023 to 2033)
The global aerial work platforms market size stood at around Us$ 10.15 billion in 2022, and is set to expand at a CAGR of 6.1% during the forecast period from 2023 to 2033.The global market is anticipated to reach a valuation of US$ 19.43 billion by 2033up from US$ 10.75 billion in 2023.
Aerial work platform, also known as an aerial machine,bucket truck or mobile elevating work platform, is a mechanical device that can provide temporary access to inaccessible locations, usually at height, for equipment and people.
Aerial work platforms are frequently utilized for various types of maintenance and construction works, including arboriculture to provide an autonomous work platform. lt is also used in the power and telecommunications sectors for initiating intensive overhead line maintenance work.
Advanced features, including transport and access, as well as electrical outlets and compressed air hookups for power tools, may be found on innovative aerial work platforms. Additionally, some of the latest construction equipment platforms are equipped with window glass frames. Operators can frequently be lifted to a working position by underbridge units with the help of these frames.
The global aerial work platforms market holds about 23.12% of share in the global crane market, says FMI.
US$ 10.15 billion
Current Year Value(2023)
US$ 10.75 billion
Expected Forecast Value(2033)
US$ 19.43 billion
Projected CAGR(2023 to 2033)
2018 to 2022 Aerial Work Platforms Demand Outlook Compared To 2023 to 2033
From 2018 to 2022, the market for aerial work platforms exhibited 4.3% CAGR.Due to their versatility and ability to be utilized in a wide range of industries,including manufacturing, warehousing, transportation, and utilities, boom lifts have recently held the majority of share.
Boom lifts are more versatile than scissor lifts as they are operated by a hydraulic arm to easily move around obstacles.They can also achieve greater heights than scissor lifts. Two types of boom lifts commonly used in the building and manufacturing industries are articulated and telescopic.
Due to rising construction activities and ongoing development of the warehouse industry, demand for aerial access equipment is projected to expand at a steady pace from 2023 to 2033.Increasing demand for new residential properties in emerging economies is another crucial factor that would aid growth.
Owing to the aforementioned factors, the global aerial work platforms market is projected to grow 1.8x by 2033.
Top Trend Propelling the Global Aerial Work Platforms Market
Rising Construction of Residential and Commercial Buildings
Rapid expansion of middle-class populations in developing countries and their high purchasing power are expected to push the demand for new commercial,as well as residential buildings.Thus, key companies are investing huge sums to innovate their existing product lines or to come up with new products.
For improved safety, platform load sensing features are being installed in all equipment in accordance with the new ANSI A92.20 requirements, along with active auxiliary guarding for operator protection. It is a major factor that is anticipated to bode well for the global market.
Which Factors May Hinder Sales Of Aerial Work Platforms?
The degree of governmental safety restrictions in every country is strongly reliant on aerial work platforms. Some of the countries across the globe lack safety standards governing working at a specific height.Furthermore, lack of consumer understanding of the overall capabilities of scissor lifts may impede growth in the aerial work platforms market in the next decade.
Despite numerous initiatives taken by rental firms to improve development prospects,fleet owners in emerging countries are hesitant to buy scissor lifts due to their high cost. Lack of stringent safety rules at construction sites and warehouses for handling commodities may also significantly hamper growth in the aerial work platforms industry.
2022 Value Share in Global Market
How is the United States Aerial Work Platforms Market Faring?
Agencies like OSHA Have Permitted Utilization of Working Platform Lifts in the United States
According to FMl, the United States held around 66.3% of the North America aerial work platforms market share in 2021.The country is projected to generate a substantial share in terms of value in the next decade.
Demand for aerial work platforms is increasing significantly in the United States due to the easy availability of technologically advanced products and rising safety requirements in the country.The Occupational Safety and Health Administration (OSHA), for instance, has amended a range of requirements that allow aerial work platforms to be implemented, which would drive business development in the United States.
The United States aerial work platforms market is witnessing significant growth. There is a growing trend toward the adoption of electric-powered aerial work platforms in the United States.This is primarily driven by the increasing emphasis on environmental sustainability, reduced carbon emissions, and stricter regulations on noise pollution in urban areas.
In accordance with its sustainable energy initiatives, the government is making substantial investments in the deployment of solar panels and windmills for power generation.The installation, assembly, and upkeep of these structures often involve working at significant heights, creating a demand for elevated work platforms that provide valuable assistance.As a result, the AWP market is experiencing growth due to their usefulness in facilitating these operations.
What Makes Hybrid Aerial Work Platforms a Game Changer in Germany?
Automation and Robotics Revolutionize Aerial Work Platforms in Germany
Germany is one of the leading markets for aerial work platforms in Europe.The country's strong economy, robust infrastructure development, and stringent safety regulations have contributed to the market growth. Aerial work platforms enable efficient and safe working at heights, improving productivity and reducing labor costs.
Germany has stringent safety regulations for aerial work platforms to ensure the well-being of operators and prevent accidents. The Germany aerial work platforms market is witnessing a shift toward hybrid aerial work platforms, combining electric and combustion engines.The industry in Germany is also witnessing ongoing developments in automation and robotics integration.
Are Electric Aerial Work Platforms the Future of Japan's Construction Industry?
Japan's Urban Renaissance Drives Demand for Aerial Work Platforms
Japan has been witnessing a growing demand for electric aerial work platforms due to their environmental friendliness and lower operational costs.The government’s initiatives to promote sustainable practices have further contributed to the adoption of electric models. Urbanization and infrastructure development projects have significantly driven the Japan aerial work platforms market. The need for efficient and reliable equipment for construction, maintenance, and inspection activities has created opportunities for market growth.
Worker safety is a key concern in Japan. The country also has a strong cultural emphasis on safety and meticulous attention to detail. This cultural aspect influences the demand for aerial work platforms that prioritize safety features Manufacturers are incorporating technologies to enhance operator safety and minimize accidents.
Value CAGR(2023 to 2033)
Can Aerial Work Platforms Revolutionize the Renewable Energy Sector in the United Kingdom?
Stringent Regulations Boost Adoption of Aerial Work Platforms in the United Kingdom
The United Kingdom aerial work platforms market is prominent given its robust construction sector. The country is witnessing significant urbanization and infrastructure development, particularly in metropolitan areas like London, Manchester, and Birmingham. This has resulted in a higher demand for aerial work platforms for construction, maintenance,and renovation activities.
The government's commitment to renewable energy and the ongoing investments in renewable energy projects have fueled the demand for aerial work platforms. These platforms are used for installation, maintenance. and repair work in the renewable energy sector.Moreover, the country has well-defined safety standards and regulations pertaining to working at heights.
What is the China Aerial Work Platforms Market Outlook?
Increasing Construction Activities to Fuel Demand for Mobile Elevating Platforms in China
China is expected to create an incremental opportunity of more than US$ 1.5 billion in the coming decade,finds FMI.
The county is set to witness a large number of construction activities with increasing population, which would drive the need for effective platforms for elevated construction.
Moreover, increasing number of aerial work platform rental companies in China and rising construction expenditure are expected to create new growth opportunities for manufacturers operating in the country over the next ten years.
China's rapid urbanization has led to a surge in construction activities, both in the residential and commercial sectors.The Chinese government's focus on infrastructure development and construction projects provides substantial market opportunities. As reported by the National Development and Reform Commission the Chinese government granted approval for 26 infrastructure projects in 2019, with an estimated investment of around US$ 142 billion. These projects are projected to be finalized by the year 2023.
The China aerial work platforms market has been experiencing significant growth in recent years. The rapid growth of e-commerce in china has created a demand for aerial work platforms in the warehousing and logistics sector. Aerial platforms are utilized for various tasks, such as order picking,inventory management, and maintenance of storage facilities, to support the efficient operation of e-commerce warehouses.
Why is the Demand for Aerial Work Platforms Surging in India?
Steel Manufacturers in India to Opt for Aerial Access Platforms
Steel producers in lndia are extensively using aerial work platforms owing to their various advantages associated with regular plant maintenance. Tata Steel, for instance, is one of India's major manufacturers. which uses aerial work platforms to carry out emergency maintenance jobs.
Federal and government steel plants often purchase cutting-edge equipment in the country,especially sound alarms boom lifts, solid non-marking tires, and back cameras, to enhance their processes, which would also augment growth in India.
The lndia aerial work platforms market has experienced a surge in demand due to rapid infrastructure development, including the construction of highways,bridges, and commercial buildings. Initiatives like"Smart Cities" and "Make in lndia" by the government have further accelerated infrastructure development. An example of this can be seen in 2021 when the lndian government allocated about US$ 529.7 million toward construction projects. These occurrences contribute to the expansion of the market.
2022 Value Share in Global Market
Transportation and Logistics
Which is the Dominant Product Type in the Aerial Work Platforms Market?
Demand for Advanced Boom Lifts to Accelerate in the Next Decade
Boom lifts excel in offering unparalleled versatility in terms of height and reach capabilities. They are purpose-built to provide extended vertical and horizontal reach,catering to various applications such as construction, maintenance installation, and industrial tasks.This exceptional ability to reach elevated areas with precision and flexibility sets boom lifts apart from other aerial work platforms.
One substantial advantage of boom lifts is their typically higher load capacity compared to other types of aerial work platforms, such as scissor lifts or vertical mast lifts. In addition, the versatility of boom lifts renders them indispensable across various industries and applications.They find extensive usage in construction projects, building maintenance warehousing operations,utilities,film production,and numerous other sectors.
Who is the Leading End User of Aerial Work Platforms?
Forklift Aerial Platforms to Gain Traction in the Transportation and Logistics Sector
The transportation and logistics industry often involves the movement and handling of heavy and bulky goods, both in warehouses and during transportation. Aerial work platforms provide efficient and safe solutions for accessing elevated areas, loading/unloading cargo, and performing maintenance tasks on vehicles and infrastructure. These platforms also enable the transportation and logistics sector to optimize its operations by streamlining workflows and reducing manual labor.
Rapid e-commerce growth leads to increased demand for warehouses and distribution centers. Aerial work platforms are crucial for tasks like order picking , inventory management,and shelving in these facilities.The transportation and
logistics industry is at the forefront of this expansion. They heavily rely on aerial work platforms to improve operational efficiency in large-scale storage facilities.
Which is the Most Preferred Sales Channel in the Aerial Work Platforms Market?
Construction Companies Are Preferring Rental Hydraulic Aerial Platforms
By sales channel, the rental service providers segment is anticipated to dominate the global aerial work platforms market in the evaluation period.Companies often look for rental construction equipment to save repair costs.Rental equipment also needs less maintenance, which further helps companies to eliminate initial purchasing costs.
The aerial work platforms market is highly competitive and is dominated by various international and domestic companies offering competitively priced products. Key players are also focusing on product innovations to expand their geographic presence and strengthen their positions in the global market.
●In May 2023,JCB introduced two flexible boom aerial work platforms.These provide options for both diesel/electric hybrid and entirely battery-electric drivelines.These new versions,the A45E and A45EH, boost customer performance by providing higher efficiency,improved operator access, and sophisticated monitoring capabilities.
●MEC made an announcement in February 2023 regarding the introduction of the NANO10-XD. a new electric scissor lift model. The NANO10-XD is equipped with a standard Xtra Deck, enabling easy navigation in confined areas like 2-foot by 2-foot ceiling grids. This compact lift is specifically designed to reduce its environmental footprint by utilizing an all-electric lift, steer, and drive system,thereby eliminating the potential for oil leaks.
●In February 2023,MEC Aerial Work Platforms introduced the NANO10-XD,an all-electric scissor lift. This new scissor lift boasts a compact design. lt is specifically designed for environmentally sensitive applications, as it eliminates the risk of oil leaks with its all-electric lift. steer, and drive system. The NANO10-XD is equipped with standard lithium-ion batteries, providing an extended battery duty cycle , reduced charge time, and increased uptime.
●Genie addressed consumer demands for more durable and quieter construction equipment in October 2022. They introduced a new feature: the option to use lithium-ion batteries in their GS E-Drive slab scissor lifts. These batteries were specifically designed for MEWPs(Mobile Elevating Work Platforms).
●Oshkosh Corporation acquired Maxi-Metal Inc. in June 2022.Maxi-Metal Inc. is a United States-based company that specializes in aerial lifts,commercial pumpers, rescue trucks, wildland trucks, mini pumpers, and fire apparatus. The purpose of this strategic acquisition is to improve Oshkosh Corporation's product portfolio.
●In September 2021, JLG Industries, Inc.introduced its new JLG 670SJself-levelina boom lift It is equipped with the company's state-of-the-art patented and exclusive self-leveling technology. The 670SJ is specially engineered to automatically adapt to terrain on slopes up to nearly 10 degrees in any given direction.
●In March 2021, MEC Aerial Work Platforms unveiled the MEC Mast Electric(MME) Series, its new product range of vertical mast lifts. The new product line would provide higher product residual value, longer duty cycles, and high efficiency.