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Aerial Work Platform (AWP) Market Revenue and Growth Analysis | Global Market Insights
Aerial Work Platform (AWP) Market
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Based on growing adoption, companies operating in the AWP market are focusing on new product launches. As an example, in 2019, Manitou Group announced the expansion plan of its mobile elevating work platform line for North America, along with a USD 30 million investment in the production capacity in France.
In terms of product, the AWP industry is divided into scissor lifts, personal portable lifts, boom lifts, and vertical mass lifts. Of these, the personal portable lifts segment is projected to grow significantly over the forecast period owing to high adoption in maintenance and utility applications. Personal portable lifts can operate on different levels of elevation and are being used as substitutes to conventional ladders and scaffoldings, given their adjustable working heights. These lifts need less assembly time and provide easy transportation credited to their compact size and design.
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Based on platform height, the 20 to 25 meters segment is expected to experience substantial demand owing to the safety and stability offered by the equipment at an elevated height. Several manufacturers are working on improving operator comfort and decreasing workplace accidents at heights on sites. Growing deployment of AWPs in order to ensure operator and worker safety is likely to boost segmental growth.
Geographically, the North America and Asia Pacific AWP markets are witnessing steady progress on account of robust adoption of access platforms and the presence of multiple industry players.
Globally speaking, firms present in the AWP market are Haulotte Group, Aichi Corporation, Genie, JLG Industries, Niftylift Limited, Manitou Group, Zoomlion Heavy Industry Science and Technology Co. Ltd., Hunan Runshare Heavy Industry Company, Ltd., Hunan Sinoboom Heavy Industry Co., Ltd., and Skyjack. These companies are engaged in various business strategies such as mergers and acquisitions, new product development, and partnerships. In 2021, Skyjack announced the launch of new, optimized 60 ft and 40 ft booms consisting of the firm’s SMARTORQUE technology and data driven design, as an effort to boost customer’s return on investment.
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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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