Press release
Global Aerial Equipment Market 2016 – 2022: Top Key Vendors Altec Industries, Aerial Access Equipment, Elliott Equipment Company, Grove
The global aerial equipment market was valued at around USD 8,300 million in 2016 and is expected to reach over USD 14,300 million by the end of 2022, growing at a CAGR of 9.5% between 2017 and 2022.
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Report Summary
The augmenting construction market across the world has boosted the construction equipment industry revenue thus contributing to the growth of the aerial equipment market. Growth in the construction industry, stringent labor laws and government regulations, and strict adherence to human safety concerns are some of the other factors driving the growth of the global aerial equipment market.
The research analysts in their primary research observed that the rapid growth of the construction equipment rental market over the forecast period is expected to open potential opportunities for the aerial equipment manufacturers in the global market.The global aerial equipment markets segmented on the basis of the product, technology, ownership, end-user, and the geographical regions.
Scissors lifts are used commonly in the aerial working platforms contributing a major share in the market. The demand for the maintenance and installation applications has increased at a rapid rate thus fueling the demand for the scissor lifts over the coming years. In addition, the operational benefits that are offered by the scissor lifts such as maneuvering capability in tight spaces drive the product demand.
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The vehicle-mounted lift dominated the type segment in terms of revenue owing to the technological advancements and the new product innovations.In terms of volume, vehicle-mounted lifts held around 50% market share in 2016.
The rapid growth of construction equipment rental market over the forecast period is expected to create potential opportunities for the aerial equipment manufacturers in the global market. The demand for rental equipment is growing in the construction industry across the globe owing to lack of investment.
The construction sector expects to account for the majority of the market share and is anticipated to grow at a CAGR of over 9% owing to the increasing government and private investment in the real-estate sector and infrastructure development. Growing concerns regarding the worker's safety also anticipate fueling the product demand in this sector.
The major market players in the aerial equipment market are Altec Industries, Aerial Access Equipment, Elliott Equipment Company, Grove, Haulotte, JLG, Linamar, MEC Aerial Work Platforms, Manitex International among others.
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Global Aerial Equipment Market: By Product
Atrium / Spider Lifts
Boom Lifts
Cranes
Scissor Lifts
Global Aerial Equipment Market: By Technology
Unpowered
Self-propelled
Vehicle-mounted
Global Aerial Equipment Market: By Ownership
Rental
End-Use Industry
Global Aerial Equipment Market: By End-User
Fire Brigade
Industrial
Power Plant
Construction
Ship & Offshore
Others (Glass Cleaning, Maintenance)
Global Aerial Equipment Market: By Region
North America
U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
Middle East and Africa
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