Aerial Work Platform Market Projected to Grow at a Steady Pace During 2020-2025

OCT 04,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aerial Work Platform Market.

Aerial Work Platform Market is likely to witness an impressive CAGR of 5.8% during the forecast period. The major factors contributing towards the growth of the aerial work platform market are increasing investments in real-estate sector, increasing government investment in the private sector, and growing infrastructure development, especially in the Asia-Pacific region.

An aerial work platform (AWP), also acknowledged as an aerial device is a mechanical device employed to provide momentary access for people or equipment to unreachable areas, usually at some height. These are generally used for upkeep and construction work or by firefighters for emergency access.

Based on the product type, the market is segmented as boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts. Boom lifts held the largest share of the market in 2019, due to their versatile nature as they can be used from utilities and construction to storage and shipping industries.

Based on the end-user type, the aerial work platform market is segmented as construction, retail, storage, and warehouses, transportation and logistics, and others. The construction segment dominated the market in 2019. Aerial work platforms are majorly used in maintenance and construction of mining infrastructure and high demand for new infrastructure investment in the metals and mining sector is likely to drive the segment’s market.

Based on the engine type, the aerial work platform market is segmented as electric and engine-powered. The electric aerial work platform segment dominates the market and is likely to grow at an excellent rate in the coming years, due to the increasing demand for maintenance and repair services in the residential construction sector.

In terms of regions, North America dominated the aerial work platform market in 2019, whereas Asia-Pacific is expected to grow at the fastest pace during the forecast period. China and India are the key growth engines of the Asia-Pacific’s market. Europe is also expected to offer lucrative growth opportunities during the forecast period.

Key Players
  • 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

Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Aerial Work Platform Market analysis report discusses the following heads in great detail:
  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors
Customization of the Report:
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