SEATTLE--(BUSINESS WIRE)--An aerial work platform (AWP) is mechanical equipment that provides elevation for workers to unreachable areas whenever required. AWP provides temporary and mobile access known as mobile elevating work platform (MEWP). AWPs find extensive applications in various industries including construction, commercial, warehouses, maintenance work, etc.
On the basis of product type the market is classified as scissor lifts and boom lifts. In boom lifts, the worker is provided maximum vertical and horizontal outreach to work at crowded workplaces. Scissor lifts offer folded support in a crisscross ‘X’ pattern. Furthermore, on the basis of motive mechanism, the market is segmented as manual and self-propelled mechanism. On the basis of ownership, the market segmented as rental service providers and end-use industries.
The global aerial work platforms (AWP) market was valued at US$ 8,454 Mn in terms of value and is expected to grow at a CAGR of 6.0% during the forecasted period (2019-2027).
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Market Driver
- Convenience offered by manufacturers to fulfill custom requirements from clients with advanced telematics is expected to drive the global aerial work platform (AWP) market growth during the forecast period
- Growing demand for telecommunication and electrical lines worldwide is expected to propel the global aerial work platform (AWP) market growth over the forecast period
Market Opportunities
- Replacement of manual labor with machinery pose lucrative business opportunities for marketers
- Increasing investment in R&D activities, in order to manufacture efficient products is expected to offer conducive growth opportunities for market players
Market Restraint
Lack of skilled workers and specific training to labors is expected to restrain growth of the global aerial work platform (AWP) market over the forecast period
Key Takeaways:
- Global aerial work platforms (AWP) market is expected to witness CAGR of 6.0 % during the forecasted period (2019-2027), owing to increasing safety concerns of workers and labors.
- Among the type of AWP, scissor lifts dominated the market in year 2018 with around 57% share of the total market and is estimated to witness a CAGR of 6.6% over the forecasted period. The high popularity of scissor lifts is due to its stability and load-carrying capacity compared to boom lifts.
- In the motive mechanism segment, the self-propelled AWPs dominated with more than 90% of the market share and continues to dominate over the forecast period with a CAGR of 6.7%. The reason for higher share of self-propelled AWP is ease of transportation of higher capacity lifts with safety of workers during transportation.
- North America region dominated the global aerial work platforms market in 2018, accounting for 49.3% share in terms of value, followed by Europe and Latin America, respectively owing to new regulations for worker and labor safety in USA along with the rapid developments in industrial and infrastructure development projects.
Competitive Section
Key companies operating in the market Linamar Corporation, JLG Industries, Inc., MEC Aerial Work Platforms, Terex Corporation, Tadano Ltd., Haulotte Group, Mtandt Limited, V-tech Hydraulics, Zhejiang Dingli Machinery Co, Ltd., and Snorkel International, Inc.
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Key Developments
- Key companies in the market are focused on partnerships, in order to enhance their market presence. For instance, in November 2018, Linamar Corporation, a Canadian manufacturing company, partnered with Protean Electric, the automotive technology company, for ProteanDrive.
- Key companies in the market are focused on capacity expansion, in order to enhance their market presence. For instance, in March 2016, Haulotte North America, a subsidiary of Haulotte Group, inaugurated new headquarters in Virginia Beach, to focus on sales, customer-service facilities, training, etc.
Segmentation
Market Taxonomy:
1. By Product Type
-
Boom Lifts
- By Platform Height (Up to 60’, 60’-100’, More than 100’)
- By Configuration (Straight, Articulated)
- By Fuel Type (Gas/ Diesel, Electric, Hybrid)
- Scissor Lifts (Up to 30’, 30’-50’, More than 50’)
2. By Motive Mechanism
- Self-propelled
- Manually propelled
- Vehicle Mounted
3. By Ownership
- AWP Rental Service Providers
-
End-use industries
- Construction
- Entertainment
- Mining
- Commercial
- Manufacturing
- Others
4. By Region
- North America
- Latin America
- Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
