Aerial Work Platform Rental Market Prospects for Long-Term Growth to Reach $69.0 bn by 2030

Aerial work platforms are widely utilized across industries such as telecommunications, construction, logistics, and transportation for various tasks. These platforms, which are rented or leased for specific durations, serve multiple purposes including the construction of new structures at heights, repair of ducts, and maintenance of overhead wires.

The primary goal of these systems is to grant access to previously unreachable areas at predetermined heights for both equipment and personnel. Additional features often include the installation of compressed air and power tool sockets, as well as windowpane frame support systems.

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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Driving Demands:
Government investments in infrastructure, including roads, communications, power generation, and transportation, are on the rise, driven by population growth in developing countries like China and India. As populations expand, the demand for rural and urban infrastructure projects increases, prompting governments to allocate significant funds for development. For example, the Indian Union budget for 2022 proposes spending approximately $131 billion on infrastructure improvements. Additionally, advancements in technology, such as enhanced system security, are contributing to the growth of the aerial work platform rental market.

Emerging battery technologies are anticipated to drive future demand for electric aerial work platforms. Stricter emission standards and restrictions on the use of engine-powered platforms indoors are creating new opportunities for electric and hybrid models, further fueling the expansion of the aerial work platform industry.

Manufacturers are also investing in advanced technologies, including remote-controlled systems and the integration of the Internet of Things (IoT), which not only reduce labor requirements but also enhance safety. These factors are expected to generate significant opportunities for global market growth throughout the forecast period. The aerial work platform rental market forecast is analyzed based on product type, application, propulsion type, and region.

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Regional Analysis:
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.

Top 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.

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