Aerial Work Platform Market Reflecting a CAGR of ~4% During the Forecast Period 2019 - 2029

Aerial Work Platforms Market
February 2020
Report Id : REP-GB-1797
Published On : August-2019
Category : Industrial Automation and Equipment
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Aerial Work Platforms Market Analysis
Aerial Work Platform Market to Record CAGR of ~4% Increase in Revenue by 2029
VALLEY COTTAGE, New York, /PRNewswire/ -- Future Market Insights (FMI), in its latest research study,
investigates the aerial work platform market and presents actionable insights on its progress footsteps for
the evaluation timespan of 2019-2029. As per the research study, the global aerial work platform market
revenues reached ~US$ 8.3 Bn in 2018, and are projected to grow steadily at a CAGR of ~4 % during the
forecast period.
Consistent surge in maintenance practices of infrastructural assets, including airports, window washing
and repairing, and an increasing number of construction projects in metropolitan economies in
developing regions are setting huge demand for AWPs in the landscape, suggests the report. In addition,
stringent safety and environmental regulations will continue to avoid upcoming worker casualties and
check diesel emissions, which is likely to encourage innovation that can negotiate credit squeeze and
reverse the environmental impact of 21st century aerial work platforms.
Conventional methods of lifting equipment and maintaining industrial assets have been an affair of
concern among the construction verticals of many countries. Realizing personnel welfare and resource
preservation has motivated infrastructure and mining operators to turn to aerial work platforms. Key
players are embracing self-propelled and energy-efficient technology to cater to the needs of end
users.
Construction Workforce Shifting to Boom Lifts for Repair Works
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Aerial Work Platforms Market Analysis
FMI's report finds that boom lifts hold shares worth more than half of the global aerial work platform
market value. Battery-driven boom lifts offer high flexibility, enabling movement around obstacles and
access to compact areas, and the tiers of the boom lifts do not leave any mark. Electric boom lifts provide
vertical elevation of more than 100 feet, and facilitate vertical and horizontal movements without
disturbing the base and offer a 180-degree operation to reach areas behind the equipment. Furthermore,
they are best fit for jobs that require excessive movement and can be coupled with other transporting
vehicles, finding favor with the end users.
On the flip side, scissor lifts facilitate only unidirectional movement, i.e. upwards and the base requires
constant adjustment accordingly. Some variants of scissor lifts, for instance, rough terrain scissor lifts, do
not have non-marking tiers and offer a maximum of 60 feet elevation. Furthermore, scissor lifts are costintensive
as they demand regular maintenance.
AWP Rental Service Providers Fetching More Customers Despite Steady Growth Trail
Both, the industrial end users and AWPs rental service providers are witnessing sluggish progress, with
the latter slightly declining over the forecast timeframe, says FMI. Construction and commercial sectors
hold substantial shares on account of rising building activities in developing and under-developed
countries as well as manufacturing amusement sites for entertainment purposes. Furthermore, the
assets in construction and commercial verticals demand continuous and long-term maintenance, adding
further to the expenses.
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Aerial Work Platforms Market Analysis
Customers from low and middle income countries (LMIC) are stumbling upon AWPs rental service
provider companies for temporary purposes, owing to high initial investments and progressive
maintenance costs of aerial work platforms, for instance, scissor lifts. These rental service providers
facilitate users with tailored aerial work platforms sticking to the requirements of the job sites, such as
articulated boom lifts, and rough terrain scissor lifts, among others.
Press-Release Source - https://www.prnewswire.com/news-releases/aerial-work-platforms-market-isexpected-to-grow-at-a-cagr-of--4-during-2019-to-2029--future-market-insights-300907498.html
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Aerial Work Platforms Market Analysis
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research reports, custom research reports and consulting services which are personalized in nature. FMI
delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes,
technology inputs, valuable growth insights and an aerial view of the competitive framework and future
market trends.
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