The global aerial work platforms market is expected to grow at a 6.3% CAGR from 2022 to 2032, with a value of $9,614.3 million in 2021. By 2032, the global market is expected to be worth US$ 18,658.0 million.
Over the next ten years, manufacturers doing business in China can expect new growth opportunities as the country’s aerial work platform rental industry expands and construction spending rises.
As infrastructure projects are completed and regional economies in the Middle East and Africa grow, aerial access tools such as scissor lifts are becoming more common. Aerial work platform sales are increasing as more infrastructure projects in urban and rural areas are implemented to meet the world’s growing population demand.
Aerial work platforms are in high demand throughout all industries, but particularly in manufacturing and general infrastructure. Because of their benefits, these platforms are expected to be adopted by both small and large construction companies, as well as maintenance personnel and agents.
However, demand for aerial work platforms may be hampered in the coming decade by a lack of experienced machine operators and high equipment acquisition costs.
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Key Takeaways: Aerial Work Platforms Market
- The global aerial work platforms market holds about 12% of the global crane market share.
- From 2012 to 2021, the market for aerial work platforms exhibited 8% CAGR.
- The U.S. held around 3% of the North America aerial work platforms market share in 2021.
- China is expected to create an incremental opportunity of more than US$ 1.5 Billion in the coming decade.
- By product type, the scissor lifts segment is estimated to account for more than 32% of the global aerial work platforms market share by 2032.
“Increasing demand for rental aerial work platforms among construction companies to reduce initial purchasing and maintenance costs is expected to augment the global market,” says a Future Market Insights analyst.
Competitive Landscape: Aerial Work Platforms Market
The aerial work platforms market is highly competitive and is dominated by various international and domestic companies offering competitively priced products. Key players are also focusing on product innovations to expand their geographic presence and strengthen their positions in the global market.
For instance,
- In August 2022, Manitex International, Inc. started the delivery of nearly 200 oil & steel aerial work platforms to Enel, LLC. The equipment will be utilized for supporting the latter’s power-line maintenance fleet.
Get More Insights on Aerial Work Platforms Market:
According to FMI, the market research report offers an impartial analysis of the aerial work platform market which contains a global industry analysis for 2012–2021 and market forecasts for 2022–2032. The research report analyzes on global aerial work platform market through different categories. The global market analysis of the aerial work platform provides pricing information through various life cycle studies, product life cycle, key market developments, and innovations that are being introduced in the development of the aerial work platform and product acceptance in various end-use.
The global market was divided into various segments, including product type (boom lifts, scissor lifts, vertical mast lifts, and push around & spider lifts), fuel type (gas or diesel, electric, and hybrid), platform height (below 10 meters, 10 to 20 meters, 20 to 30 meters, and above 30 meters), sales channel (OEM and rental service providers), and end use (construction, mining, transportation & logistics, manufacturing, and aerospace & defense) across seven regions in the world.
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Aerial Work Platforms Market Outlook By Category
By Product Type:
- Boom Lifts
- Telescopic
- Articulating
- Trailer Mounted
- Self-Propelled
- Scissor Lifts
- Vertical Mast Lift
- Double Mast AWP
- Single Mast AWP
- Push Around and Spider Lifts
By Fuel Type:
- Gas / Diesel
- Electric
- Hybrid
By Platform Working Height:
- Below 10 Meters
- 10 to 20 Meters
- 20 to 30 Meters
- Above 30 Meters
By Sales Channel:
- OEM
- Rental Service Providers
By End Use:
- Construction
- Mining
- Transportation and Logistics
- Manufacturing
- Aerospace and Defence
- Others
