Global Aerial Work Platform Market was valued at US$ 8.2Bn in 2017 and is expected to reach US$ 14.6Bn by 2026, at a CAGR of 7.48 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Aerial Work Platform Market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Aerial Work Platform Market.
The Aerial Work Platform Market is witnessing high popularity owing to the integration of advanced technical features, such as CAN bus, sensors, and telematics, as these technologies offer better safety parameters over the conventional platforms. By integration of CAN bus technology, machines leverage a combination of many controllers and sensors, proposing new operational features for the workers.
The load-sensing technologies deployed in the newly developed MEWPs disable functioning in case of extreme weight, further providing more safety to the platform operators. Additionally, the aerial work platform market is experiencing the emergence of self-propelled access platforms that offer increased flexibility, stability, and security to the users. Easy transportation & operation of the self-propelled machinery is supporting the growing utilization in several application sectors including energy and oil & gas for maintenance purposes.
However, the lack of consciousness regarding technology and technical skills might act as a major restraint of the aerial work platform market.
The boom lifts segment dominating the global aerial work platform market. This is because boom lifts are very common in established markets, for instance, Western Europe and North America, where they are extensively used for indoor, general construction as well as for many other industrial applications.
The construction industry segment is expected to register steady growth owing to the high rate of urbanization in emerging countries of the Asia Pacific, coupled with a growing population. Rapid growth in the residential area in urban as well as semi-urban areas in this region contributes significantly to the market growth. In terms of structure, the standard segment is expected to dominate the global aerial work platforms market because of growing demand from the construction sector.
New standards to make Aerial Work Platforms i.e. AWS more safe and reliable: With the rise in the use of AWP, the American National Standards Institute (ANSI) has presented new ANSI A92 standards. These standards comprise changes in design, terminology, training and use. These standards are expected to take effect by mid-2018. One of the notable changes in Aerial Work Platforms is the addition of the load sensing system and active tilt on the aerial equipment. This load sensing system will avert from moving the platform if it exceeds the given capacity. While active tilt will alert when the platform reaches a slope greater than the suitable.
Region-wise, North America aerial work platform market is expected to reach over US$ 6.3Bn by 2026 attributed to numerous building maintenance & construction activities across the commercial & residential sector. The demand is also increased owing to the presence of technically-aware and economically-stable population, supporting the deployment of costly MEWPs. High government support for developing newly manufactured products with safety parameters and reduction of forthcoming worker accidents is driving high consumption of new products in the industry.
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Scope of Global Aerial Work Platform Market
Global Aerial Work Platform Market, by Product
• Scissor Lift
• Boom Lift
• Articulated Boom Lifts
• Telescopic Boom Lifts
Global Aerial Work Platform Market, by End-User
• Industrial & Manufacturing
• Maintenance & Repairs
Global Aerial Work Platform Market, by Structure
Global Aerial Work Platform Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Aerial Work Platform Market
• Aichi Corporation
• Altec Inc.
• Bronto Skylift
• Diversified Technologies
• Haulotte Group
• JLG Industries
• MEC Aerial Work Platforms
• Oshkosh Corporation
• Palfinger AG
• Skyjack (Linamar Corporation)
• Tadano Ltd.
• Terex Corporation
• Time Benelux
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