Press release
Aerial Work Platform Rental Market Business Opportunity, Top Key players, and Growth Forecast 2030 | To Reach $69.0 Billion
Aerial Work Platform Rental Market
The aerial work platform rental market size was valued at $41.4 billion in 2020, and is estimated to reach $69.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
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Top Major Players:
The major players profiled in the aerial work platform rental market analysis include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc.
New battery technologies are expected to increase the demand for electric aerial work platform rental market trends in the future. New and improved emission standards as well as restrictions on the use of engine-powered aerial work platforms indoors open up new opportunities for electric and hybrid aerial work platforms. Hence this will allow the aerial work platform business to expand. On the other hand, manufacturers invest on cutting-edge technologies that can be controlled remotely.
Furthermore, internet of things(IoT) integration reduces the labor required for operating as well as provide safety. These factors are predicted to create opportunities for global market improvement throughout the forecasted period.
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The aerial work platform rental market forecast is carried on the basis of product type, application, propulsion type, and region.
On the basis of product type, it is classified into boom lift, scissor lift, vehicle-mounted platforms, and others.
Depending on application, the market is fragmented into utility, manufacturing, construction and others.
By propulsion type, it is categorized into, diesel, electric and hybrid.
By Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
In 2020, Asia-Pacific was the highest contributor to the aerial work platform rental market share, and LAMEA is anticipated to secure a leading position during the forecast period.
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