Lifting work platforms can even have advanced functions, including access and transport, including electrical sockets and compressed air connections for electrical appliances. An aerial work platform (AWP) Market are commonly used for all kinds of maintenance and construction activities, especially when it needs to be done at a certain height. It can also be equipped with special equipment, such as window frames and sub-bridges for operators to lift the specific height required for each workplace.
In its latest report, Future Market Insights (FMI), a certified ESOMAR market research and consulting firm, provides insight into the key factors that drive demand in the aeronautical work platforms market in the new analytics, market and consulting firm. The study tracks global maritime sales in the 20+ Fast Growing Air Platforms (AWP) market and, in addition, analyzes the impact of COVID-19 on the Aerial Work Platform in general and the Aerial Work Platform in particular.
Several initiatives by global construction firms, government organisations, and regulatory authorities to reduce air pollution from building construction activities are also having an effect on market demand. As a result, several manufacturers are shifting toward providing electric-powered platforms to meet application sector demand.
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Lifting work platforms (AWP) are often used for all types of maintenance and construction activities, especially if they have to be performed over long distances. It is widely used in electrical engineering, telecommunications and nurseries to maintain overhead lines.
In addition, large government spending on infrastructure projects such as highways, railways, water savings and energy production is likely to create business opportunities in the coming years. However, the low availability of skilled machine operators and the high costs incurred at the time of equipment purchase are some of the factors that can hinder growth.
In addition, the rapid development of equipment from many industries threatens manufacturers by selling technically used tools such as electrification and hybridization technologies, further expanding the future prospects for the development potential of the aircraft platform market. Scissor lifts are likely to remain the most common, costing more than half of the aircraft platforms sold by 2031.
Key Takeaways of Aerial Work Platforms Market Study
- Between 2021 and 2031, the aerial work platform market will expand at a CAGR of 12.0%
- The U.S. will emerge as a highly lucrative pocket, accounting for over 90% of the North American market in 2021, in terms of value
- The U.K. will exhibit steady growth post slowdown in 2020. FMI projects it to record above 1.5% Y-o-Y growth in 2021
- Rising construction spending will continue supporting demand from Germany and France
- Investment in infrastructural development will boost growth in Japan, South Korea, and China
“While investment towards technological improvements remains a key focus, key market players are expected to mostly rely on rental businesses to expand their footprint. Besides this, some of the companies are incorporating sensors in aerial work platforms to help them detect potential obstruction averting risk of accidents on site,” said a lead analyst at FMI
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Who is Winning?
Some of the leading companies operating in the aerial work platforms market are Terex Corporation, J C BAMFORD EXCAVATORS Ltd., Aichi Corporation, Haulotte Group, Linamar Corporation, Hunan Sinoboom Heavy Industry Co. Ltd., Manitou Group, Tadano Limited, Zhejiang Dingli Machinery Co., Ltd., OSHKOSH CORPORATION, MEC AERIAL WORK PLATFORMS, PALFINGER AG, IMER INTERNATIONAL SpA, MANTALL HEAVY INDUSTRY CO., LTD, NOBLELIFT INTELLIGENT EQUIPMENTCO., LTD. These companies have been focusing on product launches besides strategic collaborations to gain a competitive advantage.
For instance, in October 2019, Manitou unveiled five new boom lifts for the market in North America. These were diesel-powered boom lifts and the models were ATJ 60, TJ 8, TJ 65+, TJ 80+, and TJ 65. With this, the company expanded its MEWP line.
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