LAS VEGAS, Oct. 25, 2017 (GLOBE NEWSWIRE) -- The Global Aerial Work Platform Truck Market was worth USD 1.50 billion in the year 2012 and is expected to reach approximately USD 8.20 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 16.50% during the forecast period. An aerial work platform (AWP), otherwise called an aerial device, is a mechanical gadget used to give brief access to individuals or hardware to out of reach territories, ordinarily at stature. They are widely utilized for brief, adaptable access purposes, and for example, support and development work or by firefighters for access in an emergency, which recognizes them from lasting access gear, for example, lifts. They are intended to lift constrained weights — normally not as much as a ton, albeit some have a higher safe working load (SWL) recognizing them from most sorts of cranes. They are typically fit to be set up and worked by an individual. Aerial work platform truck items for the most part involve boom lifts, personal portable lifts, scissor lifts and vertical mast lifts. They are extremely useful in sectors like telecommunication, transport & logistics, construction and government.
The expanding requirement over the telecommunication sector, especially in China, Taiwan, Indonesia, India and Brazil, is foreseen to help the advancement of the business in the up and coming years. Expanding repair and maintenance exercises in developed areas such as North America and Europe may also support the advancement of the aerial work platform truck market. Expanding investment by the legislature and quick advancement in the foundation are creating private enthusiasm for the real-estate sector; particularly as Asia Pacific is further evaluated through the accompanying couple of years. The business is poised for advancement because of rising demand for material handling equipment in manufacturing units and industrial facilities coupled with rising issues concerning security of employees.
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On the basis of product the global Aerial Work Platform Truck Market is segmented into Personnel Portable Lifts, Boom Lifts, Scissor Lifts and Vertical Mast Lifts. On the basis of application the market is segmented into Government, Transport & Logistics, Telecommunication and Construction. The major players in this market are Teupen USA, Inc., Bronto Skylift Oy Ab, RUTHMANN GmbH & Co, Aichi Corporation, HUNAN RUNSHARE HEAVY INDUSTRY CO., Terex and Altec Inc and Tadano Limited. Geographically the market is segmented into Asia Pacific, North America, Europe and Rest of the world.
Key findings of the Aerial Work Platform Truck Market
- Blast lifts market is balanced for high development throughout the following years inferable from expanding use of these lifts for dubious design or littler spaces with constrained access. This can be additionally credited to the few advantages offered by these lifts, for example, compact design, mobility, standard oscillating axle, and tight turning radius.
- Construction applications represented more than 30 percent of the general AWP truck industry in 2014, and are anticipated to witness high development over the figure time frame. Developing foundation improvement and private interest in land are relied upon to be key variables in charge of development in this segment.
- Telecommunication sector is relied upon to display high development, which can be credited to an expanding number of consumers for smartphones, especially in Asia. Smartphone expansion and the related requirement for enhanced telecom foundation for enhanced connectivity are relied upon to raise requirement in the telecommunication sector.
- In 2014 North America captured a considerable share of the Aerial Work Platform Truck Market which can be ascribed to extensive advancements in technology. Likewise, expanding repair and maintenance exercises combined with developing concerns and standards in regards to employee safety are further driving item request in this locale.
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Major Key Players:
- Bronto Skylift Oy Ab
- Tadano Limited
- HUNAN RUNSHARE HEAVY INDUSTRY CO.
- Aichi Corporation
- Teupen USA Inc.
- RUTHMANN GmbH & Co, Terex
- Altec Inc.
Table of Contents
1. Introduction
2. Executive Summary
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rapid growth of infrastructure
3.2.1.2. Rising urbanization and increasing safety concerns
3.2.2. Restraints
3.2.2.1. Lack of Awareness
3.2.3. Opportunities
3.2.3.1. Development of Technologically Advanced Infrastructure
4. Aerial Work Platform Truck Market, By Product
5. Aerial Work Platform Truck Market, By Application
6. Aerial Work Platform Truck Market, By Region
7. Company Profiles
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