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Aerial Work Platform Market to Generate $14.35 Billion by 2027, States the Report by Allied Market Research
Aerial Work Platform Market
Allied Market Research published a research report on the aerial work platform market. The findings of the report states that the global market for aerial work platform system generated $9.27 billion in 2019, and is expected to reach $14.35 billion by 2027, manifesting a CAGR of 7.7% from 2021 to 2027. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.
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“The development in electric and hybrid engines can open new growth prospects for the ever-growing demand for aerial work platforms. The environment friendliness of electric lifts and the development in new power hybrid engines drives the growth of the market.” Said Vivek Banik, the Senior Research Analyst of Construction and Manufacturing at Allied Market Research.
The report provides detailed information based on the key determinants of the market to help market players in devising growth strategies and capitalizing on opportunities. Reduced accidents and improved safety, growth in logistics and transportation business, and easy accessibility and mobility offered by aerial work platform augment the growth of the global aerial work platform market. However, high dependence on traditional alternatives and high price of aerial work platforms restrain the market growth. Moreover, development in fully electric and hybrid aerial work platforms presents an array of opportunities in the near future.
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The report provides a detailed scenario of impact of the Covid-19 pandemic on the aerial work platform system market globally. It helps the market players, new entrants, and investors to determine strategies according to the current scenario and improvise the business structure for the approaching time. As a result of the lockdown, the global aerial work platform industry has witnessed a significant loss. Factors such as declined demand, disrupted services, halted manufacturing facilities, and suspension of transportation industry have majorly impacted the market.
The report offers detailed segmentation of the global aerial work platform system market based onsegmented on the basis of type, operation, lift height, end-user industry, and region. These insights are useful for the new entrants and existing market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.
Based ontype, the market is classified into boom lifts, scissor lifts, vehicle mounted platforms, and others.The boom lift segment held the highest market share in 2019, and is expected to lead the trail throughout the forecast period.
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Based on operation, it is categorized into fuel powered, electric, and hybrid. The fuel powered segment dominated the market in 2019, with highest revenue share, and is expected to lead the trail throughout the forecast period.
Based on region, the market is studied across regions including Asia-Pacific, North America, Europe, and LAMEA. The market across North America dominated in 2019 with the highest market share in 2019. However, the region across Asia-Pacific is expected to exhibit the highest growth rate throughout the forecast period.
Leading market players of the global aerial work platform system market analyzed in the report includeAichi Corporation, Altec Inc., Haulotte Group, J.C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Terex Corporation (Genie), Teupen, and Zhejiang Dingli Machinery Co., Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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