The latest report by IMARC Group, titled “Aerial Work Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global aerial work platform market exhibited moderate growth during 2015-2020. Aerial work platforms (AWP) or elevating work platforms (EWP) are mechanical aerial devices that allow people and equipment to reach inaccessible or remote areas. They are specifically designed for elevating personnel up to a suitable height and offer a stable and safe base during the uplift stage. AWPs can be used in both indoor and outdoor settings due to their versatile and efficient nature. In addition, they can be fitted with specialized equipment like window glass frames and under-bridge units for lifting operators at work locations. As a result, they are primarily used to access construction and maintenance work areas. They also find applications in the renovation, maintenance, utilities, transportation and logistics, and other end user industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Aerial Work Platform Market Trends:
The market is primarily driven by significant growth in the construction industry as AWPs are increasingly used in commercial construction activities. Besides this, the development of smart cities and maintenance of the existing infrastructure is also contributing to the market growth. In addition to this, the stable working conditions offered by AWPs helps in reducing accidents and fatalities on construction sites, which, in turn, is also propelling their demand over traditional scaffoldings. Moreover, governments across various countries are extensively investing in building commercial complexes and public transport infrastructure, which is fueling the market growth. Furthermore, technological advancements, such as the integration of tilt sensors and automatic self-checking instruments in novel AWPs, are also creating growth opportunities for market players. These systems facilitate real-time warnings and alerts to the operators, which enhances the operation safety of the equipment. Looking forward, the market is expected to grow at a CAGR of around 7% during the forecast period (2021-2026).
- Based on the engine type, the market has been segmented into electric and fuel-powered.
- On the basis of the product type, the market has been classified into boom lifts, scissor lifts, truck/crawler mounted lifts, push around aerial work platforms, spider lifts, and others.
- The market has been categorized based on the application into construction, retail, storage and warehouses, transportation and logistics, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Aichi Corporation (Toyota Industries Corporation), Dinolift OY, Haulotte Group (Solem SA), Hunan Sinoboom Intelligent Equipment Co. Limited, JLG Industries (Oshkosh Corporation), LGMG North America Inc., Linamar Corporation, Manitou Group, MEC Aerial Work Platforms, Tadano Limited, Terex Corporation, and Zhejiang Dingli Machinery Co. Limited.
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