According to a recent report by Future Market Insights (FMI), the global aerial work platforms market is projected to grow from USD 10,157.9 million in 2022 to USD 18,658.0 million by 2032, achieving a compound annual growth rate (CAGR) of 6.3% during the forecast period.
Aerial access devices, such as scissor lifts, are increasingly popular as infrastructure development and regional economic growth continue across the Middle East and Africa. The demand for aerial work platforms is driven by the rising number of urban and rural infrastructure projects undertaken to accommodate the growing global population.
Both the manufacturing and general infrastructure sectors are showing strong demand for aerial work platforms worldwide. The various advantages of these platforms, including enhanced equipment protection, are expected to boost their adoption among small and large construction firms, as well as maintenance personnel and workers.
However, challenges such as a shortage of experienced machine operators and the high costs associated with equipment acquisition may hinder the demand for aerial work platforms in the coming decade.
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 Bn 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.
Competitive Landscape:
Key players are actively engaged in various strategies to maintain a competitive edge and expand their market presence. These strategies include product innovation, technological advancements, strategic partnerships and collaborations, mergers and acquisitions, and geographical expansions. Companies are focusing on developing advanced aerial work platforms with enhanced safety features, increased efficiency, and improved sustainability to cater to the growing demand for elevated work solutions across different industries.
Key Players:
In August 2022, Zhejiang Dingli Machinery Co Ltd introduced a fresh addition to the market: the BT44RT boom lift, which runs on electric, diesel, and hybrid power. This innovative lift offers a lifting range spanning from 16 to 44 meters and boasts a maximum load capacity of 450 kg.
In October 2021, JCB India Pvt Ltd, a J.C. Bamford Excavators Limited subsidiary, unveiled a fresh lineup of electric scissor lifts. The new range includes models such as S2632E, S1930E, S3246E, and S4046E, each designed to meet specific height requirements. These machines enable working at heights of 7.71 m, 9.92 m, 11.7 m, and 13.9 m. They offer support for both scissor lifts and telescopic boom machines.
Key Segmentation:
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
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/aerial-work-platforms-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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