Aerial Work Platform Market Growth Accelerates: Strategic Forecast Predicts $18.34 Billion by 2029

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What Will the Aerial Work Platform Industry Market Size Be by 2025?
In recent times, there has been a consistent growth in the market size of aerial work platforms. The market, which was valued at $13.23 billion in 2024, is predicted to increase to $13.83 billion in 2025, indicating a compound annual growth rate (CAGR) of 4.6%. Factors such as the rise in greenhouse farming, measures against pest outbreaks, enhancement of crop yields, protection of crops, and safeguarding against UV radiations have been key in driving the growth during the historical period.

What's the Long-Term Growth Forecast for the Aerial Work Platform Market Size Through 2029?
The market for aerial work platforms is predicted to expand significantly in the coming years, anticipated to reach a value of $18.34 billion by 2029 by growing at a compound annual rate (CAGR) of 7.3%. This growth during the forecast period is driven by various factors such as population growth coupled with food security, evolving climate conditions, rising acceptance of precision farming practices, an upsurge in vertical farming, and initiatives promoting sustainable farming. The forecast period also showcases certain trends like diversification in net materials, shields against hail and frost, nets specifically for organic farming, nets for shading and climate control, and partnerships between agriculturists and technology providers.

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What Are the Key Growth Drivers Fueling the Aerial Work Platform Market Expansion?
The aerial work platform market is anticipated to expand due to an increase in residential and commercial construction activities. The term residential and commercial construction encompasses a wide range of construction projects, which includes the creation of structures for various uses. The construction of residences, apartments, and other primarily residential premises is categorized as residential construction. Simultaneously, commercial construction includes the building of facilities meant for commercial or business-related operations. Aerial Work Platforms (AWPs) are frequently utilized in both residential and commercial construction to allow temporary access to higher regions. This makes tasks like roofing, painting, window washing, electrical work, and construction less risky and more manageable for workers at elevated heights. Hence, these elements contribute to the aerial work platform market's expansion. The Office for National Statistics, a UK government agency, reported in November 2023 that the value of new construction work in present-day costs in Great Britain rose by 15.8% to an all-time high of $173,100 million (£132,989 million) in 2022. This surge was primarily driven by growth in private sector work, which equated to $18,343 million (£14,093 million), and public sector work amounting to $5294 million (£4,068 million). As a result, the increase in residential and commercial construction activities is fueling the growth of the aerial work platform market.

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What Are the Key Trends Driving Aerial Work Platform Market Growth?
Major companies operating in the aerial work platform market are focused on developing innovative products such as scissor lifts and intuitive control panels. Scissor lifts are aerial work platforms that use a crisscrossing (scissor) mechanism to raise and lower the platform, providing a stable working area at various heights for tasks like maintenance, construction, and installation. An intuitive control panel allows operators to easily understand and operate the machinery, featuring a user-friendly layout and clear indicators that enhance the overall user experience. For instance, in March 2024, Manitou Group, a France-based aerial work platform company, launched a new range of scissor lifts that are designed to enhance efficiency and safety in various lifting applications. This series features models like the SE 0808 and SE 1008, providing working heights of 8 meters and 10 meters, respectively, with intentions to introduce a 12-meter model (SE 1212) in the future. Crafted with premium components, these lifts are equipped with two high-efficiency AC motors and a lightweight structure, which ensures enhanced autonomy and a reduced total cost of ownership. Suitable for both indoor and outdoor environments, they cater to the varied requirements of industrial maintenance and finishing tasks.

How Is the Aerial Work Platform Market Segmented?
The aerial work platformmarket 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

Subsegments:
1) By Scissor Lifts: Electric Scissor Lifts, Diesel Scissor Lifts, Rough Terrain Scissor Lifts
2) By Boom Lifts: Telescopic Boom Lifts, Articulating Boom Lifts, Hybrid Boom Lifts
3) By Telehandler: Compact Telehandlers, Standard Telehandlers, Heavy Duty Telehandlers
4) By Other Product Types: Personal Lift, Vehicle-Mounted Lift, Mast Lifts

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Which Companies Are Leading the Charge in Aerial Work Platform Market Innovation?
Major companies operating in the aerial work platform market include Tere*x 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

Which Regions Are Leading the Global Aerial Work Platform Market in Revenue?
North America was the largest region in the aerial work platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global aerial work platform market during the forecast period. The regions covered in the aerial work platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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