Aerial Work Platform Market Estimated At USD 25.91 Billion By 2028


 San Francisco, 12 Nov 2021: The Report Aerial Work Platform Market Size, Share & Trends Analysis Report By End Use (Rental, Construction & Mining), By Engine Type (Electric, Engine-powered), By Product Type (Boom Lifts, Scissor Lifts), And Segment Forecasts, 2020 - 2028

The global aerial work platform market size is anticipated to reach USD 25.91 billion by 2028, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. The rising demand for aerial work platforms (AWPs) is attributed to their widespread utilization in end-use industries, such as construction, transportation & logistics, retail, storage, and warehouse. Increasing construction activities across the globe are expected to open new growth avenues for the market. Rising government investments in the construction of residential buildings, commercial complexes, and public transport infrastructure, are expected to propel the demand for aerial lifts over the forecast period.

Recent years have witnessed a positive trend in the demand for different types of AWPs, especially boom lifts and scissor lifts, in various end-use industries, such as construction, retail stores & warehouses, and transportation & logistics. These aerial platforms reduce human efforts to a large extent and help reach inaccessible heights with comfort. The global market exhibits the dominance of well-established players, such as Terex Corp., MEC, Aichi Corp., Haulotte Group, and Linamar Corp. The established players in the industry exhibit higher sales and a broader distribution network along with a wider product line.

Access Research Report of Aerial Work Platform Market @ https://www.grandviewresearch.com/industry-analysis/aerial-work-platform-market

Aerial Work Platform Market Report Highlights

  • The electric AWP accounted for the largest revenue share in 2020 due to the increased product demand in the indoor maintenance and repair activities
  • The demand for boom lifts is expected to grow at the fastest CAGR of 6.8% over the forecast period owing to their ability to maneuver various obstacles, especially in repairing electric utilities and construction-related activities
  • The demand for AWP in the transportation and logistics sector is projected to register the fastest CAGR during the forecast period owing to the increasing number of warehouses and logistic centers around the globe
  • Asia Pacific is estimated to witness the maximum growth rate over the forecast period on account of the rising construction activities in ASEAN countries along with the growing e-commerce sector in the region
  • The market is expected to be spurred by technological advancements, such as Genie’s launch of E-Drive slab scissor lifts, which run on an optimized AC electric drive system to achieve emission-free and clean operations in compact premises, such as hospitals, gymnasiums, and supermarkets

List of Key Players of Aerial Work Platform Market

  • Terex Corp.
  • MEC
  • JLG Industries
  • Galmon (Singapore)
  • Aichi Corp.
  • EdmoLift AB
  • Wiese USA
  • Linamar Corp.
  • Advance Lifts, Inc.
  • Haulotte Group

Access Press Release of Aerial Work Platform Market @ https://www.grandviewresearch.com/press-release/global-aerial-work-platform-market

 

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