Press release
Power Tools Market to reach US$ 15.3 Bn Bn by 2026
A steady growth of the global aerial work platforms market can be attributed to a booming construction industry, stringent labour laws and government regulations, and strict adherence to human safety concerns. The market is also likely to receive a boost from simple and attractive equipment financing options, a diversified product portfolio offered by manufacturers while meeting the customised demands of AWP buyers, and a rising demand for AWP equipment from the telecommunication and electrical lines maintenance business vertical.
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Market projections based on segmentation
By Product Type (Boom lifts, Scissor lifts): The boom lifts segment is estimated to account for 42.8% revenue share in the global AWP market by the end of 2016. The scissor lifts segment is estimated to dominate the global AWP market with 57.2% market revenue share by the end of 2016.
By Ownership (Rental service providers, End-use industries): The rental service providers segment is expected to create total incremental opportunity of US$ 5.9 Bn between 2016 and 2026. The end-use industries segment is expected to create total incremental opportunity of US$ 1.2 Bn between 2016 and 2026.
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