Stratview Research published a new report on the “Aerial Work Platform Market” that offers detailed segmentation of the market based on Product Type, Engine Type, End-User Type, and Region.

According to the report, the aerial work platform market was estimated at USD 16.52 billion in 2021 and is likely to grow at a CAGR of 6.21% during 2022-2028 to reach USD 25.26 billion in 2028.

The major factors contributing to the growth of the aerial work platform market are increasing investments in the real estate sector, increasing government investment in the private sector, and growing infrastructure development, especially in the Asia-Pacific region.

What is an aerial work platform?

An aerial work platform (AWP), also acknowledged as an aerial device is a mechanical device employed to provide momentary access for people or equipment to unreachable areas, usually at some height. These are generally used for upkeep and construction work or by firefighters for emergency access.

COVID-19 IMPACT

The aerial work platform market witnessed negative growth due to the Covid-19 pandemic in the year 2020. The pandemic has led to supply chain disruptions which ultimately lead to supply shortages and lower demand for the aerial work platform market.

Key Market Players –

• Advance Lifts, Inc.

• Aichi Corporation

• EdmoLift AB

• Galmon (S) Pte Ltd

• Haulotte Group

• JLG Industries

• Linamar Corporation

• MEC Aerial Work Platforms

• Terex Corporation

• Wiese USA

Report Findings

Based on the product type, the market is segmented as boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts. Boom lifts held the largest share of the market in 2021, due to their versatile nature as they can be used in utilities and construction to storage and shipping industries.

Based on the end-user type, the aerial work platform market is segmented as construction, retail, storage, warehouses, transportation and logistics, and others. The construction segment dominated the market in 2021. Aerial work platforms are majorly used in the maintenance and construction of mining infrastructure and high demand for new infrastructure investment in the metals and mining sector is likely to drive the segment’s market.

Based on the engine type, the aerial work platform market is segmented as electric and engine-powered. The electric aerial work platform segment dominates the market and is likely to grow at an excellent rate in the coming years, due to the increasing demand for maintenance and repair services in the residential construction sector.

In terms of regions, North America dominated the aerial work platform market in 2021, whereas Asia-Pacific is expected to grow at the fastest pace during the forecast period. China and India are the key growth engines of the Asia-Pacific market. Europe is also expected to offer lucrative growth opportunities during the forecast period.

FAQs in the report -

The research report aims to help the users learn about their market size and potential to connect with customers. This report answers to the following questions:

-        How big is the potential Aerial Work Platform?

-        Will this market grow or shrink in the future?

-        Who are our top competitors or key players?

-        What market share do the competitors own?

-        How Covid19 has affected the market?

-        How long will it take to recover from the Covid-impact?

About us –

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