According to a new report published by Allied Market Research, titled, “ — Aerial Work Platform Market by Type, Operation, Lift Height, and End-User Industry: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global aerial work platform market size is expected to reach $14.3 billion in 2027 from $9.3 billion in 2019, growing at a CAGR of 7.7% from 2020 to 2027. In 2019, North America dominated the market, in terms of revenue, accounting for 44.0% share of the global aerial work platform market.
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Aerial work platform (AWP) are personnel lifting devices used in industries such as construction, retail, warehousing, utilities, and others. Aerial work platforms are also called as mobile elevating work platforms, aerial lifts, cherry pickers, bucket trucks, and others, and are available in various types such as scissor lifts, articulated and telescopic boom lifts, vehicle mounted platforms, and others. Moreover, aerial work platforms assist in working on heights, which reduces the risk of accidents caused by older equipment such as scaffolding platforms and others.
Moreover, North America is the highest contributor in the aerial work platform market. The U.S. garners highest share in the region with approximately 83.0% within the North American market. This is mainly due to the early introduction of aerial working platforms in the region and high demand for AWP in common construction and maintenance practices. In addition, the rapid development in AWP products in terms of emission control and full-electric operation has assisted AWP to gain popularity in the European market.
Covid-19 Impact Analysis
The COVID-19 pandemic has negatively affected the aerial work platform market mainly due to the halt in international trade, prolonged lockdowns, and ceased manufacturing processes. The reduction in demand from the construction and logistics industry during 2020 owing to the disrupted supply chains is expected to decline the growth of the market.
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The major players operating in the aerial work platform industry include Aichi Corporation, Altec Inc., Haulotte Group, J. C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Terex Corporation (Genie), Teupen, and Zhejiang Dingli Machinery Co., Ltd.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global aerial work platform market trends and dynamics.
In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive aerial work platform market analysis of all the countries is also provided in the report.
The global aerial work platform market forecast analysis from 2020 to 2027 is included in the report.
The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
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