Aerial work platforms might even have advanced features including access and transport, including electrical outlets and compressed air connectors for power tools. It can also be fitted with specialized equipment, such as window glass frames and underbridge units for lifting operators to a certain height required for any working location.
To remain ‘ahead’ of your competitors, request for a sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-1797
In its latest report, Future Market Insights (FMI), an ESOMAR-certified market research and consulting company, offers insights into key factors driving demand for the Aerial Work Platform Market in its recent analysis, market research and consulting firm. The study tracks global marine sales in 20+ high-growth aerial work platform (AWP) market, in addition to analyzing the impact COVID-19 has had on Aerial Work Platform in general, and Aerial Work Platform in particular.
How Does the Historical and Future Outlook for Aerial Work Platform Market Compare?
High growth in the aerial work platform market is supported by the surge in application across diverse industries. Increasing need for aerial work platforms in construction, mining, transport & logistics, aerospace and defense industries among others will remain a chief contributor towards growth. According to FMI, the market is set to grow at 12% CAGR between 2021 and 2031.
Besides new construction, AWP’s application is considered indispensable for maintenance works. The need for improving, maintaining, and preserving existing properties in the housing sector is fuelling the demand. Considering this, expansion of the real estate sector and increasing investment in property development will emerge as key growth drivers. While growth in the market was restricted in 2020 due to the unprecedented COVID-19 outbreak, recovery is expected with the recovery of real estate and construction sectors.
What is the Commercial Potential of Aerial Work Platform?
Increasing infrastructure investment across the world will boost commercial prospects for aerial work platforms. Because construction sector remains a key end user, stagnancy in construction activities, especially across developed markets might flatten growth prospects. Thanks to the bustling counterpart in emerging countries, overall demand is expected to increase significantly in the coming years.
According to the India Brand Equity Foundation (IBEF), the private equity and venture capital investment in infrastructure touched US$ 14.5 Bn in 2019 in India. Besides this, India plans to invest nearly US$1.4 trillion on infrastructure development and expansion between 2019 and 2023, which will present a highly lucrative growth to expand the AWP market.
Also in China, the demand is expected to surge especially as the government is focusing on infrastructure investment as a key driver of economic growth post COVID-19 outbreak. These factors are expected to improve commercial potential for the market, especially in developing countries.
Aerial Work Platform (AWP) Market Category-wise Insights
What is the Market Share of Scissor Lifts?
Among various kinds of aerial work platform available in the market, the demand for scissor lifts is expected to remain significantly high. This category wil hold the major revenue share in the market and are expected to retain their lead over the forecast period as they are flexible devices that are used by utilities, manufacturing, warehousing, and shipping industries.
Boom lifts will emerge as the second-leading segment because they are more versatile than scissor lifts. Boom lifts can be operated by a hydraulic arm to move around obstacles easily and also can achieve greater heights than to scissor lifts.
Scissor lifts however are expected to remain dominant through the forecast period. Scissor lifts are suitable for indoor maintenance or building activities outdoors. Scissor lifts are preferred in quieter working conditions and are often engine powered.
For critical insights on this market, request to ask an expert here @
https://www.futuremarketinsights.com/ask-question/rep-gb-1797
Aerial Work Platforms Market by Category
Product Type
- Boom Lifts
- Scissor Lifts
- Truck/Crawler Mounted Lifts
- Push Around Aerial Work Platforms
- Spider Lifts
- Others
Platform Working Height
- Below 10 Meters
- 10 to 20 Meters
- 20 to 30 Meters
- Above 30 Meters
Fuel
- Gas/ Diesel
- Electric
- Hybrid
End User
- Industry
- Construction
- Mining
- Transportation and Logistics
- Manufacturing
- Aerospace and Defence
- Others (Utility, Government etc.)
- Rental Providers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa
Aerial Work Platform (AWP) Market Competitive Landscape
The aerial work platform market exhibits a high degree of consolidation. Companies operating in the market have been focusing on technology improvements and strategic collaborations to gain competitive advantage.
For instance:
- Haulotte Group launched an auto-power of system to limit the power consumption while the boom is idle. This new system was launched in 2019. To achieve this, the company incorporated its diagnostic tool, called Haulotte ActivScreen Cat 2 with novel feature to enable auto power off
- In 2019, Tadano Limited announced the launch of a compact rough terrain crane, available for sale in North America and named it GR-150XL-3
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-1797
Some of the leading companies operating in the market are:
- Terex Corporation
- J C BAMFORD EXCAVATORS Ltd.
- Aichi Corporation
- Haulotte Group
- Linamar Corporation
- Hunan Sinoboom Heavy Industry Co. Ltd.
- Manitou Group
* The list is not extensive and is for representational purposes only. Total competitive intelligence is available in the report with SWOT analysis.