Aerial Work Platform Market Demands Drive Exponentialy at a CAGR of 7.7% by 2027

The global aerial work platform market size is expected to reach $14.3 billion in 2027 from $9.3 billion in 2019, growing at a CAGR of 7.7% from 2020 to 2027.

In 2019, North America dominated the market, in terms of revenue, accounting for 44.0% share of the global aerial work platform market.

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Driving Factors:
Aerial work platform (AWP) are personnel lifting devices used in industries such as construction, retail, warehousing, utilities, and others. Aerial work platforms are also called as mobile elevating work platforms, aerial lifts, cherry pickers, bucket trucks, and others, and are available in various types such as scissor lifts, articulated and telescopic boom lifts, vehicle mounted platforms, and others.

Moreover, aerial work platforms assist in working on heights, which reduces the risk of accidents caused by older equipment such as scaffolding platforms and others.

Impacts Analysis of COVID-19:
The COVID-19 pandemic has negatively affected the aerial work platform market mainly due to the halt in international trade, prolonged lockdowns, and ceased manufacturing processes. The reduction in demand from the construction and logistics industry during 2020 owing to the disrupted supply chains is expected to decline the growth of the market.

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Segmentation Based On:

The global aerial work platform market is segmented into, type, operation, lift height, end-user industry, and region.

Based on type, the market is classified into boom lifts, scissor lifts, vehicle mounted platforms, and others. According to operation, it is categorized into fuel powered, electric, and hybrid.

By end-user industry, the market is classified into construction, utilities, logistics & transportation, and others.

Based on lift height, the market is fragmented into less than 20 feet, 20 to 50 feet, 50 to 70 feet, and above 70 feet.

Regional Analysis:
The global aerial work platform market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period, and Asia-Pacific is expected to grow at the fastest rate.

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