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The global aerial work platform market exhibited moderate growth during 2015-2020. Aerial work platforms (AWP), or bucket trucks, refer to mechanical aerial devices used for performing airborne maintenance and construction activities at elevated platforms or heights. The platform is equipped with the scissor, boom, vertical and articulated bool lifts, compressed air connectors, power tools and specialized equipment, such as window glass frames and under-bridge units, for lifting operators. AWP provides enhanced security, mobility and flexibility to the operator to reach narrow and challenging areas of the constructions. As a result, they are widely used for construction, transportation and logistics, retail, warehouse & storage applications.
The growing construction industry across the globe is one of the key factors creating a positive outlook for the market. Furthermore, the increasing development of smart cities and the widespread product adoption for conducting the maintenance activities of existing infrastructure is also driving the market growth. Construction organizations are also emphasizing on enhancing worker and operator safety while performing maintenance activities, thereby favoring the growth of the market. In line with this, the availability of rental services for temporarily hiring AWPs is also contributing to the market growth. Various technological advancements, such as the integration of tilt sensors and automatic self-checking instruments in novel AWPs, are acting as other growth-inducing factors. These advanced systems provide real-time warnings and alerts to the operator, thereby enhancing the operational safety of the equipment. Other factors, including the construction of high-rise buildings, along with extensive infrastructural developments, especially in the developing economies, are anticipated to drive the market further. Looking forward, IMARC Group expects the global aerial work platform market to grow at a CAGR of around 7% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global aerial work platform market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, engine type, product type and application.
Breakup by Engine Type:
Breakup by Product Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aichi Corporation (Toyota Industries Corporation), Dinolift OY, Haulotte Group (Solem SA), Hunan Sinoboom Intelligent Equipment Co. Ltd., JLG Industries (Oshkosh Corporation), LGMG North America Inc., Linamar Corporation, Manitou Group, MEC Aerial Work Platforms, Tadano Ltd., Terex Corporation and Zhejiang Dingli Machinery Co Ltd.
We expect the global aerial work platform market to exhibit a CAGR of around 7% during 2021-2026.
The rising adoption of aerial work platform across various end use sectors, like construction, transportation and logistics, retail, warehouse and storage, etc., for enhanced security, mobility and flexibility, is primarily driving the global aerial work platform market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous end-use industries for aerial work platform, thereby negatively impacting the market growth.
Based on the engine type, the global aerial work platform market can be segmented into electric and fuel-powered. Currently, electric engine holds the majority of the total market share.
Based on the product type, the global aerial work platform market has been divided into boom lifts, scissor lifts, truck/crawler mounted lifts, push around aerial work platforms, spider lifts, and others, where boom lifts currently exhibit a clear dominance in the market.
Based on the application, the global aerial work platform market can be categorized into construction, retail, storage and warehouses, transportation and logistics, and others. Among these, the construction sector currently accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global aerial work platform market include Aichi Corporation (Toyota Industries Corporation), Dinolift OY, Haulotte Group (Solem SA), Hunan Sinoboom Intelligent Equipment Co. Ltd., JLG Industries (Oshkosh Corporation), LGMG North America Inc., Linamar Corporation, Manitou Group, MEC Aerial Work Platforms, Tadano Ltd., Terex Corporation, and Zhejiang Dingli Machinery Co Ltd.
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