Overview and Scope
An aerial work platform (AWP), also known as an aerial lift, refers to a type of mechanical equipment used to provide temporary access to elevated work areas. It is typically used in construction, maintenance, and repair work where workers 20need to access elevated areas that are difficult to reach by ladder or scaffold.
Sizing and Forecast
The aerial work platform market size has grown strongly in recent years. It will grow from $12.51 billion in 2023 to $13.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increased greenhouse farming, prevention of pest infestations, crop protection, crop yield enhancement, uv radiation protection..
The aerial work platform market size is expected to see strong growth in the next few years. It will grow to $17.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to population growth and food security, changing climatic conditions, increasing adoption of precision agriculture, rise in vertical farming, sustainable agriculture initiatives.. Major trends in the forecast period include innovation in net materials, anti-hail and frost protection nets, netting for organic farming, netting for shade and climate control, collaboration between farmers and technology providers..
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Segmentation & Regional Insights
The aerial work platform market covered in this report is segmented –
1) By Product Type: Scissor Lifts, Boom Lifts, Telehandler, Other Product Types
2) By Fuel Type: Fuel-Based, Electric, Hybrid
3) By Lifting Height: 20 Feet, 20 To 50 Feet, 50 To 70 Feet, Above 70 Feet
4) By End-User Industry: Construction, Utilities, Logistics And Transportation, Other End-User Industries
North America was the largest region in the aerial work platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aerial work platform market during the forecast period. The regions covered in the aerial work platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
A rise in residential and commercial construction activities is expected to propel the growth of the aerial work platform market. Residential and commercial construction refer to two broad categories of construction projects that involve the building of structures for different purposes. Residential construction typically refers to the construction of homes, apartments, and other buildings used primarily for residential purposes, while commercial construction refers to the building of structures that are used for commercial or business purposes. Aerial work platforms (AWPs) are primarily used in both residential and commercial construction to provide temporary access to elevated areas, making it easier and safer for workers to perform tasks at height, such as roofing, painting, window cleaning, electrical work, and construction. So, these factors boost the aerial work platform market. For instance, in February 2022, according to Construct connect, Inc., a US-based software company, in 2021, US construction starts increased 5.9 percent to $747 billion, and residential construction grew 14.5 percent. Additionally, in 2021, Canadian commercial and residential construction starts increased 6.5 percent to $91.8 billion. Both the residential and non-residential sectors saw growth in residential construction, which increased by 19.7 percent. Therefore, the rise in residential and commercial construction activities is driving the growth of the aerial work platform market.
Key Industry Players
Major companies operating in the aerial work platform market report are Terex Corporation, MEC Aerial Work Platforms, JLG Industries Inc., Galmon (S) Pte Ltd., Aichi Corporation, Haulotte Group SA, EdmoLift AB, Manitou Group, Linamar Corporation, Advance Lifts Inc., Altec Industries Inc., Oshkosh Corporation, Skyjack Inc., Tadano Limited, Liebherr-International AG, Palfinger AG, Ponss Group, Hunan Sinoboom Intelligent Equipment Co. Ltd., LGMG Holding S.p.A., Zhejiang Dingli Machinery Co. Ltd., XCMG Group, Ruthmann GmbH, Teupen Maschinenbau GmbH, Time Benelux NV, Econo Lift Ltd., Bishamon Industries Corp., Snorkel International Ltd., Genie, Holland Lift, Dinolift OY
The aerial work platform market report table of contents includes:
1. Executive Summary
2. Aerial Work Platform Market Characteristics
3. Aerial Work Platform Market Trends And Strategies
4. Aerial Work Platform Market – Macro Economic Scenario
5. Global Aerial Work Platform Market Size and Growth
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31. Global Aerial Work Platform Market Competitive Benchmarking
32. Global Aerial Work Platform Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aerial Work Platform Market
34. Aerial Work Platform Market Future Outlook and Potential Analysis
35. Appendix
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