Aerial work platforms (AWPs) refer to specialized mechanical devices designed to provide temporary access for people or equipment to inaccessible areas, usually at height. These platforms are essential in various industries, offering a safe and efficient means to perform tasks such as maintenance, construction and installation.
The aerial work platform market consists of sales, by entities (such as organizations, sole traders or partnerships), of aerial work platforms that are commonly employed when elevated work is necessary but scaffolding is impractical or time-consuming. AWPs are utilized for activities ranging from building construction and repair to the installation of electrical systems and tree trimming.
The global aerial work platform market was valued at $12,078.71 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.0%.
Rise In Residential And Commercial Construction Activities
A rise in residential and commercial construction activities drove the growth of the aerial work platform market during the historic period. Residential and commercial construction refer to two broad categories of construction projects that involve the building of structures for different purposes. Residential construction typically refers to the construction of homes, apartments and other buildings used primarily for residential purposes, while commercial construction refers to the building of structures that are used for commercial or business purposes. Aerial work platforms (AWPs) are primarily used in both residential and commercial construction to provide temporary access to elevated areas, making it easier and safer for workers to perform tasks at height, such as roofing, painting, window cleaning, electrical work and construction. According to Construct Connect, Inc., a US-based software company, in 2021, US construction starts increased 5.9% to $747 billion and residential construction grew 14.5%. Additionally, according to Construct Connect, Inc., in 2021, Canadian commercial and residential construction starts increased 6.5% to $91.8 billion. Both the residential and non-residential sectors saw growth in residential construction, which increased by 19.7%. Therefore, the rise in residential and commercial construction activities supported the growth of the aerial work platform market.
Technological Advancements Transforming The Aerial Work Platform Market
Major companies operating in the aerial work platform market are focused on developing innovative technologies to strengthen their position in the market. For instance, in September 2021, JLG Industries Inc., a US-based company, launched the JLG 670SJ self-leveling boom lift. This innovative boom lift technology instantly adapts to terrain on slopes up to 10 degrees in every direction using a fully integrated, smart-adapting steel chassis with self-leveling technology. Additionally, it has automated single-sensor load detection with zero-load calibration, which limits the range based on the load on the platform to maintain the machine within the authorized work envelope. It ensures users are better informed about what's happening at ground level when they are at height by continually receiving performance data from sensors and then displaying the information on a digital display in the platform.
The global aerial work platform market is highly concentrated, with a few large players in the market. The top ten competitors in the market made up to 54.94% of the total market in 2023.
Aerial Work Platform Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global aerial work platform market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for aerial work platform? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The aerial work platform market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider aerial work platform market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product type, by power type, by lifting height and by end-user industry.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the aerial work platform market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product type, by power type, by lifting height and by end-user industry in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for aerial work platform providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product Type: Scissor Lifts; Boom Lifts; Vertical Mast Lifts; Other Product Types
- 2) By Power Type: Engine Powered; Electric; Hybrid
- 3) By Lifting Height: Upto 20 Feet; 20 To 50 Feet; 50 To 70 Feet; Above 70 Feet
- 4) By End-User Industry: Construction; Utilities; Logistics; Transportation; Other End-User Industries
- Companies Mentioned: Oshkosh Corporation; Terex Corporation; Xuzhou Construction Machinery Group Co., Ltd.; Zhejiang Dingli Machinery Co. Ltd.; Haulotte Group
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; aerial work platform indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.