The market for aerial work platforms was valued at USD 9.16 billion in 2021 and is expected to increase at a 7.7 percent CAGR to USD 14.3 billion by 2027. Product (Boom lifts, Scissor lifts, Vertical mass lifts, Personal portable lifts), Type (Electric and Engine Powered), Application (Rental, Construction & mining, Government, Transportation & logistics, Utility), and Region (North America, Europe, Asia-Pacific, and Rest of the World) are the segments studied in the Aerial Work Platform Market. The study includes the market’s Trend, Forecast, Competitive Analysis, and Growth Opportunities.
Aerial Work Platform Market Report Scope and Research Methodology:
The market study includes historical data and revenue growth projections at the regional and country levels, as well as a comprehensive analysis of Aerial Work Platform market trends in each of the key segments and their sub-segments from 2022 to 2029.The core research approach of the Stellar Market Research team is data triangulation, which comprises an examination of the impact of data factors on the Aerial Work Platform market, data mining, and primary (industry expert) validation. The research report analyses the Aerial Work Platform market’s past and present situation, as well as expected developments and size. The research report offers an easy-to-understand evaluation of the Aerial Work Platform market’s complex facts. SWOT analysis was used to identify the Aerial Work Platform industry’s top players’ strengths, weaknesses, opportunities, and threats, and a bottom-up approach was used to estimate market size.
Aerial Work Platform Market Report Overview:
The forecast was developed mostly via the analysis of historical data and current market trends in the Aerial Work Platform Market. It contains market size, share, regional analysis, dynamics, CAGR, and future trends, making the report a valuable resource for investors by providing a forward-looking picture of the Aerial Work Platform Industry.
Aerial Work Platform Market Size is expected to grow at a CAGR of 7.7% during the forecast period. Aerial Work Platform Market is expected to reach US$ 14.3 Bn. in 2027 from US$ 9.16 Bn. in 2021.
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Aerial Work Platform Market Regional Analysis:
The research covers all regions, including Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The study describes the current state and forecast for the regional Aerial Work Platform market in terms of size, share, and volume.
Aerial Work Platform Market Segmentation:
The Aerial Work Platform is split into two types: electric and engine powered. Electric AWPs led the market in 2021, accounting for 71.7 percent of global revenue. Electric AWPs are primarily used for indoor applications due to their lower turning radius. Electrical aerial lifts are expected to increase rapidly during the forecast period because to their high capacity and zero-emission. Because to their small size, these electric lifts are perfect for warehousing applications with narrow aisles and limited spaces. Because they have fewer components, electric AWPs have less downtime than diesel machines. The system’s maintenance expenses are greatly reduced when there are fewer components.
Aerial Work Platforms are grouped into four types based on their product: boom lifts, scissor lifts, vertical mass lifts, and personal portable lifts. Boom lifts were the market’s dominant product in 2021, accounting for 63.5 percent of global revenue. Boom lifts have a larger revenue share than scissor lifts since they are roughly six times more expensive. The higher weight bearing capacity and ability to reach greater heights while remaining stable account for the high price of these lifts.
Boom lifts come in a variety of styles, including articulating boom lifts, towable boom lifts, telescoping boom lifts, and cherry pickers, and are used for a wide range of outdoor applications. Boom lifts provide greater versatility than scissor lifts.
Aerial Work Platforms are divided into Rental, Construction & Mining, Government, Transportation & Logistics, and Utility. The rental end-use sector will dominate the market in 2021, accounting for 92.6 percent of global sales. Because AWPs are so expensive, they necessitate a substantial amount of capital to use and maintain. Because not all end users use these platforms on a daily basis, the vast majority lease or rent them. Renting reduces the need for routine maintenance and the costs connected with it.
Aerial Work Platform Market Key Players:
• Terex Corporation (USA)
• Aichi Corporation (Japan)
• J C BAMFORD EXCAVATORS Ltd. (UK)
• Haulotte Group (France)
• Hunan Sinoboom Heavy Industry Co. Ltd. (China)
• Linamar Corporation (Canada)
• Manitou Group (France)
• Zhejiang Dingli Machinery Co. Ltd. (China)
• Tadano Limited (Japan)
• OSHKOSH CORPORATION (USA)
• PALFINGER AG (Austria)
• MEC AERIAL WORK PLATFORMS (USA)
• IMER INTERNATIONAL SpA (Italy)
• MANTALL HEAVY INDUSTRY CO. LTD (China)
• NOBLELIFT INTELLIGENT EQUIPMENTCO. LTD (China)
Key Questions answered in the Aerial Work Platform Market Report are:
What are the Aerial Work Platform market segments?
Which region of the Aerial Work Platform market is expected to grow at a high rate during the forecast period?
What is the expected CAGR of the Aerial Work Platform market during the forecast period?
What are the emerging trends in the Aerial Work Platform market?
What are the factors restraining the Aerial Work Platform market growth?
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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