South Korea Aerial Work Platform Rental Market Boosting the Growth Worldwide: Korea Rental Corporation, AJ Networks, YK Construction Equipment, Prince Lift

The South Korea Aerial Work Platform Rental Market size is expected to reach USD 350 million by 2025, progressing at a CAGR 3% over the forecast period, according to a new report by Global Market Insights, Inc.

South Korea AWP Rental Market is expected to exceed USD 350 million by 2025. The increasing need for infrastructure inspection and maintenance of high-rise establishments are anticipated to drive the South Korea AWP rental market growth. Reconstruction activities in the country are on the rise following a number of natural calamities such as landslides, winter storms, floods, and tsunamis. Recovery from such natural disasters coupled with the increasing efforts to address the aging infrastructure is leading to high utilization rates of the equipment. Moreover, several conflicts with neighboring countries such as North Korea and war devastations are encouraging reconstruction projects adding up to the industry growth prospects.

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The South Korea AWP rental market is matured in terms of utilization, awareness, and the significance of the equipment. The growth prospects are optimistic with the increasing demand and profitability of companies operating in the rental marketplace. The demand for AWPs is growing, mostly driven by the strong demand from the infrastructure sector as well as manufacturing & warehousing facilities for the maintenance of existing infrastructures. Major customers for rental providers include Samsung Display, Samsung Electro-Mechanics, LG, Hyundai Heavy Industries, etc., that utilize this equipment for maintenance works. Rental operators in the South Korea AWP rental market continue to hope for increasing rental rates with the procurement of new machines as the utilization rate is increasing year-on-year.

The access platforms provide a reliable and safe way to access energized overhead power lines, making them a suitable choice for use in government applications in the South Korea AWP Rental Market. Companies are working on incorporating remote control systems into AWPs, which will further escalate market growth. Government initiatives for providing power, water, and other utilities to all the South Korean regions are supporting heavy investments in infrastructure development and installments. Furthermore, the constant maintenance of these facilities and power lines requires aerial lifts to reach inaccessible & highly elevated locations. The government has also largely invested in the construction of buildings, roadways, and transportation points to advance the infrastructure of the country and provide better facilities for the local population, creating several opportunities for South Korea AWP rental market growth.

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The South Korea AWP rental market comprises several companies including Prince Lift, AJ Networks, YK Construction Equipment, Korea Rental Corporation, etc. Rental operators continue to hope for increasing rental rates with the procurement of new machines as the utilization rate is increasing year-on-year. Companies are increasingly focusing on enhancing their fleet size. In September 2018, YK Construction Equipment signed a deal with Snorkel and invested in an order of 142 scissor lifts. The order included 42 electric slab scissor lifts and 100 electric scissor lifts.

Table of contents for this research report: https://www.gminsights.com/toc/detail/south-korea-aerial-work-platform-awp-rental-market

Report Content

Chapter 1.   Methodology and Scope

1.1.  Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2.  Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2.   Executive Summary

2.1.  South Korea AWP rental industry 360° synopsis, 2015 – 2025

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Application trends

Chapter 3.   South Korea AWP Rental Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2015 – 2025

3.2.1. Rental landscape

3.2.1.1.    Pros and cons – rent vs purchase AWPs

3.2.1.2.    Cost calculator – rent vs purchase AWPs

3.3.  Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. End-use landscape

3.3.5. Vendor matrix

3.4.  Technology & innovation landscape

3.5.  Regulatory landscape

3.5.1.1.    OSHA 29 CFR 1926.21

3.5.1.2.    ANSI/SAIA A92.2-2015

3.5.1.3.    ANSI/SAIA A92.5-2006 (R2014)

3.5.1.4.    ISO 4310

3.5.1.5.    ISO 12480-1

3.5.1.6.    ISO 23815-1

3.5.1.7.    ISO 12482

3.5.1.8.    Construction Technology Promotion Act

3.5.1.9.    Construction Machinery Management Act

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Increasing infrastructure investments in the country

3.6.1.2.    Increasing rate of urbanization

3.6.1.3.    Growing demand for AWPs

3.6.1.4.    Growing reconstruction and maintenance activities

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Optimizing fleet utilization

3.6.2.2.    Lack of awareness

3.7.  Rental rates, by product

3.7.1. Boom lift

3.7.2. Scissor lift

3.7.3. Vertical mast lift

3.7.4. Personal portable lift

3.8.  Rental utilization rate, by product, 2015 – 2025

3.8.1. Boom lift

3.8.2. Scissor lift

3.8.3. Vertical mast lift

3.8.4. Personal portable lift

3.9.  Growth potential analysis

3.10.        Porter's analysis

3.10.1.  Supplier power

3.10.2.  Buyer power

3.10.3.  Threat of new entrants

3.10.4.  Threat of substitutes

3.10.5.  Internal rivalry

3.11.      Competitive landscape, 2018

3.11.1.  Company market share analysis, by revenue, 2018

3.11.2.  Company market share analysis, by fleet size, 2018

3.11.3.  Strategic dashboard

3.12.      PESTEL analysis

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll-Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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