Pune, Oct. 17, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Aerial Work Platform Market, which was valued at USD 17.47 billion in 2022, is projected to achieve a CAGR of 8.8% during the forecast period from 2023 to 2030, ultimately reaching a total of USD 34.3 billion by 2030.”
Market Overview
An aerial work platform (AWP), also commonly referred to as an aerial lift or cherry picker, is a specialized piece of equipment used in various industries for tasks that require temporary access to elevated work areas. These platforms are designed to provide a safe and stable work environment for workers when they need to reach heights that are otherwise inaccessible by traditional means such as ladders or scaffolding. The advantages of using aerial work platforms include enhanced safety, increased efficiency, and the ability to access difficult-to-reach areas. They are equipped with safety features like guardrails, harness attachment points, and emergency shut-off systems to protect workers while working at height.
Market Analysis
The aerial work platform market is experiencing significant growth due to a variety of factors that are driving demand for these versatile and valuable pieces of equipment. The global construction industry continues to expand, driven by urbanization and infrastructure development projects. Aerial work platforms are essential for tasks such as building maintenance, painting, and construction, boosting demand for these machines. As infrastructure and industrial facilities age, the need for regular maintenance and repairs increases. Aerial work platforms provide easy access to difficult-to-reach areas, making them indispensable for ongoing upkeep. The rapid expansion of telecommunication networks, including 5G infrastructure, requires regular maintenance and installation of equipment on cell towers and utility poles. Aerial work platforms are crucial for these tasks. The booming e-commerce industry demands efficient warehouse operations, including high-level storage and retrieval. Aerial work platforms help streamline these processes, supporting the growth of online retail.
Get a Sample Report of Aerial Work Platform Market@ https://www.snsinsider.com/sample-request/3836
Major Players Listed in this Report are:
- AICHI CORPORATION
- Advance Lifts, Inc.
- Altec Industries
- Bronto Skylift
- DINOLIFT OY
- EdmoLift AB
- HAULOTTE GROUP
- JLG Industries
- Linamar Corporation
- MEC
- RUNSHARE Heavy Industry Company, Ltd. & Other Players
Aerial Work Platform Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 17.35 Bn |
| Market Size by 2030 | US$ 33.69 Bn |
| CAGR | CAGR of 8.65% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Aerial Work Platform Market Study
- The global market is witnessing a significant surge in demand, with the construction segment emerging as a dominant force driving this growth. The construction industry is experiencing a boom worldwide, with numerous infrastructure and real estate projects underway. Aerial work platforms are indispensable for tasks such as building maintenance, installation, and repairs, all of which are integral to the construction process.
- The market is experiencing a significant boost, and one sector that is poised to make a substantial impact is the air segment. Aircraft maintenance demands precision and safety. Aerial work platforms are designed to provide the necessary stability and elevation required for maintenance personnel to perform tasks such as engine checks, structural repairs, and painting with utmost accuracy.
Recent Developments
- Peinemann, a renowned leader in industrial equipment and access solutions, has recently made a significant move in expanding its operations by acquiring the Doornbos access fleet. With this acquisition, Peinemann gains access to a fleet of cutting-edge aerial work platforms, scissor lifts, and boom lifts, which will undoubtedly bolster their ability to provide safe and efficient access solutions to their clientele.
- In a move that promises to redefine the landscape of material handling machinery and aerial lift systems, Haulotte, a global leader in aerial work platforms, has forged a strategic alliance with Jungheinrich AG, renowned for its expertise in material handling solutions. This collaboration marks a significant milestone in the industrial equipment sector, one that holds the potential to revolutionize how businesses approach their material handling and elevation needs.
Do you have any specific queries or need any customization research on Aerial Work Platform Market, Enquiry Now@ https://www.snsinsider.com/enquiry/3836
Market Dynamics Analysis
The aerial work platform market is currently experiencing dynamic forces that shape its growth trajectory. On the driver's side, the increasing demand for these platforms across various industries such as construction, manufacturing, and maintenance services is a significant force. The need for efficient and safe access to elevated workspaces is propelling the market forward. Additionally, stringent safety regulations and a growing awareness of workplace safety are pushing companies to invest in aerial work platforms, as they provide a safer alternative to traditional methods like scaffolding and ladders. Furthermore, technological advancements, such as the integration of IoT and telematics in these platforms, are enhancing their functionality, monitoring, and maintenance, thus boosting market growth. However, there are also notable restraints and challenges. Firstly, the high initial cost of acquiring aerial work platforms can deter smaller businesses from investing in them. Maintenance and operational costs can further strain budgets. Secondly, the market faces the challenge of meeting diverse industry-specific requirements, which demands customization and adaptability from manufacturers.
Aerial Work Platform Market Key Segmentation
By Product
- Boom Lifts
- Scissor Lifts
- Vertical Lift
By Propulsion Type
- ICE
- Electric
- Air
By Lifting Height
- Less than 20 ft
- 21-50 ft
- More than 51 ft
By Application
- Construction
- Utilities
- Logistics & Transportation
- Others
Key Regional Developments
The global aerial work platform market is subject to a variety of regional dynamics that impact its growth and development. The United States dominates the North American market due to a robust construction industry, infrastructure development projects, and a focus on worker safety. The demand for aerial work platforms is driven by maintenance and repair activities across various sectors. Countries like Germany, France, and the United Kingdom have mature markets with stringent safety regulations. The replacement of older equipment with newer, more efficient models is a common trend. Additionally, green initiatives are driving the adoption of electric and hybrid aerial work platforms. China's rapid urbanization and infrastructure development projects are key drivers of the market. The construction of high-rise buildings and the need for maintenance services contribute to sustained growth.
Impact of Recession on Aerial Work Platform Market Share
The ongoing recession has created a challenging business environment for the aerial work platform market. Reduced construction activity, decreased capital expenditure, supply chain disruptions, and other factors have negatively affected the industry. However, the AWP market is expected to rebound as economic conditions improve, and industries that rely on this equipment recover. Additionally, a focus on safety and innovation can help companies in the AWP sector weather the recession and position themselves for future growth.
Buy an Enterprise-User PDF of Aerial Work Platform Market Outlook Report 2023-2030@ https://www.snsinsider.com/checkout/3836
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Aerial Work Platform Market, By Product
9. Aerial Work Platform Market, By Propulsion Type
10. Aerial Work Platform Market, By Lifting Height
11. Aerial Work Platform Market, By Application
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. USE Cases and Best Practices
16. Conclusion
Access Complete Report Details@ https://www.snsinsider.com/reports/aerial-work-platform-market-3836
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.
Browse Adjacent Markets: Equipment and Machinery Market Research or Energy and Power Market Research Reports and Consulting
