Industry Background:
The global aerial work platform market is expected to grow with 6.1 CAGR in the forecasted period due to growing requirement of efficient work process optimization by using advanced devices. An aerial work platform (AWP), also called an aerial device, elevating work platform (EWP), bucket truck or mobile elevating work platform (MEWP). An aerial work platform is a mechanical device used to provide temporary access for people or equipment to inaccessible areas at height. The rising utilization of heighted and heavy machinery in areas including construction, mining, and others has accelerated the demand for aerial work platforms (AWP). Work platforms are used by technicians, engineers, and workers to reach inaccessible zones in order to maintain or fix the glitches.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Terex Corporation (United States), JLG Industries, Inc. (United States), Haulotte (France), Aichi Corporation (Japan), Altec (United States), Manitou (France), Snorkel (United Kingdom), Niftylift (United Kingdom), Teupen (United States) and Ruthmann (Germany) |
According to AMA, the market for Aerial Work Platform is expected to register a CAGR of 6.1% during the forecast period to 2027. This growth is primarily driven by Rising Urban & Rural Infrastructure Transformation Projects to Address the Increasing Population Requirement across The Globe and The Increasing Demand from Construction & Maintenance Operations.
Globally, a noticeable market trend is evident The Growing Demand due to Government Funding in Infrastructural Projects such as Roads, Rails, Water, and Power Generation
The Industrial Conglomerates sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Terex Corporation (United States), JLG Industries, Inc. (United States), Haulotte (France), Aichi Corporation (Japan), Altec (United States), Manitou (France), Snorkel (United Kingdom), Niftylift (United Kingdom), Teupen (United States) and Ruthmann (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 19th February 2019, JLG Industries, Inc., an Oshkosh Corporation company and a leading global manufacturer of aerial work platforms and telehandlers, will launch the new JLG® Mobile Control app for its R Series scissor line at the ARA Show, February 18-20 in Anaheim, California. This industry-first technology and app enables users to drive, steer and load R Series scissor lifts while in a stowed position from an iOS mobile device.
Influencing Trend:
The Growing Demand due to Government Funding in Infrastructural Projects such as Roads, Rails, Water, and Power Generation and Increasing Safty Standards Worldwide
Market Growth Drivers:
Rising Urban & Rural Infrastructure Transformation Projects to Address the Increasing Population Requirement across The Globe and The Increasing Demand from Construction & Maintenance Operations
Challenges:
High-Cost Associated with Aerial Work Platform
Restraints:
Lack of Awareness Associated with Aerial Work Platform and Dearth in Technological Advancement in Countries of the Middle East and Africa
Opportunities:
High Demand Due to Improving Infrastructure and The Growing Demand from Rental Companies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aerial Work Platform Market
- Analysis about New Entrants in Aerial Work Platform Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aerial Work Platform Study Sheds Light on
The Aerial Work Platform Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aerial Work Platform industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aerial Work Platform industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.