Press release
Aerial Work Platform Market 2024-2033: New Technologies, Business Insights, Future Scope And Major Players
Aerial Work Platform Market
The aerial work platform market size is expected to see strong growth in the next few years. It will grow to $17.47 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to population growth and food security, changing climatic conditions, increasing adoption of precision agriculture, rise in vertical farming, sustainable agriculture initiatives.. Major trends in the forecast period include innovation in net materials, anti-hail and frost protection nets, netting for organic farming, netting for shade and climate control, collaboration between farmers and technology providers..
Market Overview -
An aerial work platform (AWP), also known as an aerial lift, refers to a type of mechanical equipment used to provide temporary access to elevated work areas. It is typically used in construction, maintenance, and repair work where workers 20need to access elevated areas that are difficult to reach by ladder or scaffold.
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A Deep Dive Into The Aerial Work Platform Market Amidst Construction Boom
A rise in residential and commercial construction activities is expected to propel the growth of the aerial work platform market. Residential and commercial construction refer to two broad categories of construction projects that involve the building of structures for different purposes. Residential construction typically refers to the construction of homes, apartments, and other buildings used primarily for residential purposes, while commercial construction refers to the building of structures that are used for commercial or business purposes. Aerial work platforms (AWPs) are primarily used in both residential and commercial construction to provide temporary access to elevated areas, making it easier and safer for workers to perform tasks at height, such as roofing, painting, window cleaning, electrical work, and construction. So, these factors boost the aerial work platform market. For instance, in February 2022, according to Construct connect, Inc., a US-based software company, in 2021, US construction starts increased 5.9 percent to $747 billion, and residential construction grew 14.5 percent. Additionally, in 2021, Canadian commercial and residential construction starts increased 6.5 percent to $91.8 billion. Both the residential and non-residential sectors saw growth in residential construction, which increased by 19.7 percent. Therefore, the rise in residential and commercial construction activities is driving the growth of the aerial work platform market.
Competitive Landscape -
Major companies operating in the aerial work platform market report are Corporation, MEC Aerial Work Platforms, JLG Industries Inc., Galmon (S) Pte Ltd., Aichi Corporation, Haulotte Group SA, EdmoLift AB, Manitou Group, Linamar Corporation, Advance Lifts Inc., Altec Industries Inc., Oshkosh Corporation, Skyjack Inc., Tadano Limited, Liebherr-International AG, Palfinger AG, Ponss Group, Hunan Sinoboom Intelligent Equipment Co. Ltd., LGMG Holding S.p.A., Zhejiang Dingli Machinery Co. Ltd., XCMG Group, Ruthmann GmbH, Teupen Maschinenbau GmbH, Time Benelux NV, Econo Lift Ltd., Bishamon Industries Corp., Snorkel International Ltd., Genie, Holland Lift, Dinolift OY
Technological Advancements Transforming The Aerial Work Platform Market
Technological advancements are a key trend gaining popularity in the aerial work platform market. Major companies operating in the aerial work platform market are focused on developing innovative technologies to strengthen their position in the market. For instance, in September 2021, JLG Industries Inc., a US-based company, launched the JLG 670SJ self-levelling boom lift. This innovative boom lift technology instantly adapts to terrain on slopes up to 10 degrees in every direction using a fully integrated, smart-adapting steel chassis with self-levelling technology. Additionally, it has automated single-sensor load detection with zero-load calibration, which limits range based on the load on the platform to maintain the machine within the authorized work envelope. and It ensures users are better informed about what's happening at ground level when they are at height by continually receiving performance data from sensors and then displaying the information on a digital display in the platform.
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Key Segments -
The aerial work platform market covered in this report is segmented -
1) By Product Type: Scissor Lifts, Boom Lifts, Telehandler, Other Product Types
2) By Fuel Type: Fuel-Based, Electric, Hybrid
3) By Lifting Height: 20 Feet, 20 To 50 Feet, 50 To 70 Feet, Above 70 Feet
4) By End-User Industry: Construction, Utilities, Logistics And Transportation, Other End-User Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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