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Global Aerial Work Platform Rental Market Growth Analysis By Top Leading Players Ashtead Group, United Rentals, Herc Holdings, Loxam, Blueline Rentals, Aktio Corporation, Haulotte Group, Riwal & more
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AWP Rental Market is set to exceed USD 24 billion by 2024; according to a new research report. Increasing commercial and residential construction projects coupled with the rise in investments in public infrastructure worldwide are expected to support the AWP rental market over the forecast timeline. Government administrations in several emerging economies have renewed their focus on the development of urban infrastructure projects, such as airport developments and smart cities, owing to which the access platform rental market is witnessing a sharp increase in demand. Moreover, growing safety concerns in workplaces following the surge in fatal injury rates is compelling various authorities to make more utilization of these equipment.
Growing installation & maintenance activities for the upgrade of fire stations, street lights, transformers & power cables, and other associated infrastructure, will drive the mobile elevated work platform (MEWP) rental market growth. In addition, demand for these machinery is on the rise for providing temporary access to workers usually in elevated locations and inaccessible areas. In the heavy equipment industry, the rental model is a better alternative due to the frequently changing requirements. For instance, the type of access equipment needed for a particular task on a job site may change from day to day and to address such requirements renting is considered a much more feasible for a contractor.
Factors such as predicting the demand in advance coupled with optimizing the fleet utilization poses significant challenges to the AWP rental market growth. Planning for the equipment lifecycle management along with anticipating equipment repairs are among the other challenges faced by the industry players. Less focus on providing online as well as onsite training to workers operating these equipment is impacting the access platform rental market growth negatively. Certified training courses for the efficient and safe operations must be provided by companies that deal with the equipment.
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Key players operating in the AWP rental market include Ashtead Group, United Rentals, Herc Holdings, Loxam, Blueline Rentals, Aktio Corporation, Haulotte Group, Riwal, AFI Uplift Ltd., Kilotou, Sunstate Equipment Company and Nesco Rentals. The industry is currently witnessing intense competition due to the presence of large number of operators in the marketplace. Industry players are heavily investing on fleet expansion considering high demand from construction and transportation & logistics sector. They are increasingly focusing on adopting latest technologies such as asset management software solutions which helps in enhancing the visibility of equipment, reduce downtime resulting in optimizing the utilization.
Table of Content:
Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. AWP Rental Industry Insights
Chapter 4. AWP Rental Market, By Product
Chapter 5. AWP Rental Market, By Application
Chapter 6. AWP Rental Market, By Region
Chapter 7. Company Profiles
For More Details about this report: https://www.marketstudyreport.com/reports/-awp-aerial-work-platform-rental-market
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