LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global truck-mounted aerial work platform (AWP) market report until 2021. This research report also lists 17 other prominent vendors that are expected to impact the market during the forecast period.
The demand for truck-mounted AWPs is growing at a steady pace. The market is driven by increased investments in power infrastructure and renewable energy. Therefore, such high investments are encouraging equipment manufacturers to expand their production facilities. Truck-mounted AWPs are essential in the cleaning and maintenance of wind turbines. The increasing investments in renewable energy systems like wind and solar power are anticipated to drive the market in APAC.
Competitive vendor landscape
The global truck-mounted AWP market is moderately fragmented, with a clear dominance of the large international players. The market also consists of numerous small and medium-sized enterprises trying to establish a presence in the market. The market is highly capital-intensive, and hence, this poses a hurdle to local players. These small players find it quite difficult for themselves to compete with the international vendors in terms of features, qualities, functionalities, and services. With the introduction of products equipped with new features and technologies, the competition will become more aggressive.
Likhitha Bandla, an industry expert at Technavio for research on construction, says, “Many vendors in the industry compete based on the product design, product performance, maintenance costs, price, energy and resources savings, quality of products and aftermarket support services. Many prominent vendors benefit from the strong brand name, leading to customer loyalty and facilitating strong resale values. The major vendors flourish in the market due to their reputation for quality products, new product innovations, superior aftermarket support and solutions, strong customer relationships, and an established global network of distributors.”
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Top five truck-mounted AWP market vendors
CTE
CTE designs, manufactures, and distributes truck-mounted AWPs. It offers stair climbers, truck-mounted access platforms, scissor lifts, and self-propelled platforms. The company also provides used truck-mounted AWPs, self-propelled tracked AWPs, as well as removal lifters.
The company's products are mainly used in applications, such as roofing and guttering work, rental, greenery maintenance, objects handling, illumination and signs, wind power, interior maintenance, under bridge maintenance, restoration, building and construction, cleaning facades and external glass areas, and painting.
MORITA HOLDINGS CORPORATION
Morita Holdings is involved in the manufacture and sale of fire trucks, fire extinguishers, disaster prevention facilities, and environment protection vehicles. It is also engaged in the design and construction work of waste recycling plants.
The company operates in four key business segments: firefighting vehicles, fire protection equipment and systems, environmental conservation vehicles, and recycling machine business. The firefighting business segment provides fire trucks. The fire protection equipment and systems business segment offer fire extinguishing and fire alarm equipment.
Versa Lift
The company is involved in the fabrication and installation of custom heating equipment, ventilation, and air conditioning products in the US. Versa Lift offers truck-mounted AWPs under the brand name VERSALIFT. The company's subsidiary TIME Manufacturing Company offers a range of products for several industries under the VERSALIFT brand.
PALFINGER
PALFINGER is involved in the manufacture and distribution of loading, lifting, and handling systems worldwide. It offers timber cranes, hook loaders, truck-mounted knuckle-boom cranes, transportable forklifts, timber and recycling cranes, and container handling systems as well as related products for railway applications.
PALFINGER is regarded as the leader in technology and innovation in its market. PALFINGER is a worldwide provider of loader cranes, timber and recycling cranes, marine cranes, wind cranes and hook lifts. Furthermore, the company is a leading specialist in tail lifts and high-tech railway systems.
Terex
Terex is a global producer of construction equipment, material handling equipment, utilities, crushing, and washing systems. The major brands under the corporation include Terex, Genie, POWERSCREEN and DEMAG. It also offers financial products and services to aid end-users in the purchase and acquisition of Terex equipment.
The company designs, manufactures, and markets construction equipment and related components, including mini and midi excavators, loader backhoes, wheeled excavators, site dumpers, compaction rollers, skid-steer loaders, and wheel loaders.
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