Status and Trends of the Global Aerial Work Platform Industry
Over the next five years, the global aerial work platform market is expected to grow at a CAGR of 3.8%. This report provides a thorough examination of the industry's current state and trends in various regions.
Aerial work platforms are used in industries such as utility, retail stores and warehouses, and transportation and logistics for a variety of construction and maintenance tasks. They have a number of advantages over ladders and scaffolding, including increased productivity, safety, and flexibility.
The global aerial work platform industry is thriving and expected to expand further in the coming years. A number of factors are driving growth in the market, including increased demand for infrastructure renovations and upgrades. Aerial work platforms are becoming more popular as automation advances in the logistics, retail, and warehousing sectors.
By elevating equipment or people to a certain height, aerial work platforms provide temporary access to inaccessible areas. These lifts are useful in a variety of industries, including construction, manufacturing, and entertainment. They save time and fuel while also making operations safer.
Because the United States and Canada have strong economies and a large number of suppliers, the market for AWPs in North America is expected to grow further. Furthermore, new AWP technology has improved performance and safety, leading to increased sales of these products.
Despite the market's growth, some obstacles may limit its expansion. One of these difficulties is controlling a modern platform while it is being lifted to a certain height, which necessitates the use of a highly skilled and experienced employee. Another issue is the cost of purchasing and operating a platform.
The construction industry continues to control the majority of the global aerial work platform market. Over the forecast period, the segment is expected to maintain its dominant share. The market is expected to grow as a result of rapid infrastructure development in Asia and Africa, which has increased the demand for maintenance and safety measures.
Furthermore, the market for AWPs is expected to expand in the utilities sector as a result of increased investments in sustainable energy and utility management initiatives. These lifts are used in sewage and electricity distribution and are a safe and efficient way to access remote locations.
The global AWP market is expected to grow at a 4.2% CAGR through 2028. The market is expected to reach a readjusted size of USD 9262.2 million in 2022 during this period. During this time period, the Telescoping Boom Lifts segment is expected to account for% of market revenue in 2022, with a readjusted% CAGR from 2022 to 2028.
Aerial work platforms are portable lifting platforms that enable workers to work at elevated heights without using traditional scaffolding. They can be a low-cost solution for a variety of construction and industrial maintenance tasks, as well as event setup and teardown.
They can be powered by an electric Genie motor or a gas engine and come in a variety of models and sizes to meet a variety of application requirements. They are primarily employed in the construction, utility, and transportation industries.
The global aerial work platform market is expected to expand rapidly between 2021 and 2028, owing to increased demand for construction equipment. Furthermore, an increase in infrastructure installation and repair is contributing to market growth.
Furthermore, the emergence of green energy initiatives by governments worldwide is driving the demand for high-quality aerial work platforms. Furthermore, the expanding IT and telecom industries are encouraging businesses to use these tools for assembling and maintaining towers at great heights.
The boom lifts segment is expected to dominate the market among the various types of aerial work platforms during the forecast period of 2021-2028. They are commonly used in the construction and manufacturing industries, and they can reach greater heights than scissor lifts.
According to research, the overall European market for aerial work platforms is expected to grow rapidly in the coming years due to the country's rapidly growing construction and logistics industries. Furthermore, the advancement of new and improved battery technologies is driving up demand for electric and hybrid aerial work platforms.
These products are becoming safer and more dependable as they have been outfitted with new safety systems such as load sensing systems that prevent the platform from moving if it exceeds its capacity and active tilt, which alerts the operator when the operator is about to reach a slope greater than that of the lift. These new safety features are also assisting manufacturers in reducing the likelihood of worker accidents, thereby expanding their market reach.
Due to their ease of use and low maintenance costs, AWP rental service providers are also gaining significant market share. They also offer a variety of advantages, such as easy access to a large number of work areas and the ability to transport a wide range of tools and materials.
One of the most important regions for the global aerial work platform industry is Asia-Pacific. It is expected to grow rapidly as public infrastructure development and construction activities increase. Furthermore, the government is investing heavily in clean energy systems, which necessitate the lifting of workers at great heights for installation and maintenance.
China and India dominate the market in Asia-Pacific. These markets are expanding due to a combination of factors such as increased investment in the industrial and construction sectors, rapid population growth, and rising middle-class incomes.
The region's AWP industry is expected to benefit from ongoing developments in the telecommunications and aviation industries. These are intended to allow people to reach out to remote areas without requiring extensive physical intervention. Furthermore, urbanization and increased investment in the warehouse and transportation industries are two major factors that are expected to fuel the market.
Scissor Lift Joystick are expected to have the largest market share among the various types of aerial work platforms available. These devices are used in a variety of industries, including manufacturing, utilities, and warehousing.
Aerial work platforms such as boom lifts are also popular in the region. They can be telescopic or articulating, and come in a variety of sizes and capacities. These vehicles can move up to 25 meters and can be used for a variety of tasks, including construction and maintenance.
Aerial work platforms are also used for electrical equipment inspection and repair in telecommunications, power generation, and other industries. Because they allow access to difficult or restricted locations at great heights, these vehicles are also useful for firefighting and emergency medical services.
The global aerial work platform market is classified into three types: scissor lifts, boom lifts, and personal portable lifts. The scissors lifts segment has the largest market share and is expected to maintain this position throughout the forecast period.
Because of its widespread use in construction and maintenance applications, the boom lifts segment is expected to grow at a rapid pace during the forecast period.
Middle East & Africa
Over the forecast period, the global aerial work platform industry is expected to grow at a rapid pace. Increased investment in infrastructure development and construction is driving this market. This is primarily due to increased government investment in construction projects. Furthermore, the growing construction of telecom towers and other structures at great heights is increasing demand for these platforms.
During the forecast period, the Middle East and Africa region is expected to have the highest growth rate in the global aerial work platform market. This is primarily due to the rapid development of infrastructure and the increase in industrialization. Another major market driver is the expanding transportation and logistics sector. Furthermore, the growing IT and telecommunications industries are expected to increase demand for these platforms.
The global aerial work platform market is divided into four product categories: Boom Lift Joystick, scissor lifts, vertical mast lifts, and portable personal lifts. It is further subdivided into electric and engine-powered models, as well as platform heights ranging from 10 to 20 meters, 20 to 25 meters, and above 25 meters. During the forecast period, the boom lifts segment is expected to account for the largest share of this market.
Boom lifts are common in many industries, including construction, mining, warehousing, and transportation. They have a hydraulic arm that allows them to move around obstacles and reach higher heights than scissor lifts.