The global aerial work platform market size is anticipated to reach USD 16.76 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% from 2020 to 2027. Increasing government investment in the private sector, along with rapid infrastructure development in Asia Pacific, is anticipated to surge market growth over the forecast period.
Implementation
of stringent worker safety regulations worldwide, rising adoption of advanced
lifting technologies, and a growing number of rental AWP companies in China in
the last three years, coupled with a rise in construction spending in the ASEAN
region, are expected to create opportunities for AWP manufacturers over the
next seven years.
Aerial
work platforms are highly used in the maintenance and construction of mining
infrastructure, including processing facilities, overhead conveyors, and other
facilities in and around the mine site. Robust demand for new infrastructure
investment in the metals and mining sector is expected to create opportunities
for AWP manufacturers over the forecast period.
According
to Eurostat, EU construction output growth is anticipated to see a contraction
of 11.5% in 2020, followed by a rebound of 6% in 2021, on account of the
ongoing coronavirus pandemic. In addition, no increase in spending on
commercial facilities, along with reduced government spending and economic
uncertainty, is expected to restrict market growth over the forecast period.
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Aerial Work
Platform Market Report Highlights
- Asia Pacific
is expected to expand at the fastest CAGR of 7.6% from 2020 to 2027 owing
to an increase in construction activities in the ASEAN region, along with
rising demand for access equipment in the Indian steel industry
- By engine
type, the engine-powered aerial work platform segment is expected to
witness the fastest growth from 2020 to 2027 owing to increasing demand
for diesel boom lifts for heavy-duty outdoor work and rough terrain
surfaces
- By product
type, boom lifts are anticipated to maintain their lead over the forecast
period as they are versatile machines that could be used from utilities
and construction to storage and shipping industries
- The electric
engine type segment held the largest share of 62.4% in 2019 owing to
rising demand for maintenance and repair services in the residential
construction sector
- The
construction end-use industry is expected to maintain its lead over the
forecast period on account of increasing investments in new
infrastructure, along with reforms to encourage Public Private
Relationships (PPPs) in the Asia Pacific region.
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Aerial Work
Platform Market Segmentation
Grand View Research has
segmented the global aerial work platform market on the basis of engine type,
product type, end-user, and region:
Aerial Work
Platform Engine Type Outlook (Revenue, USD Million, 2016 - 2027)
- Electric
- Engine-powered
Aerial Work
Platform Product Type Outlook (Revenue, USD Million, 2016 - 2027)
- Boom Lifts
- Scissor Lifts
- Vertical Mast Lifts
- Personal Portable Lifts
Aerial Work
Platform End-user Outlook (Revenue, USD Million, 2016 - 2027)
- Construction
- Retail, Storage, and Warehouses
- Transportation and Logistics
- Others
Aerial Work
Platform Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- The U.K.
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Argentina
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key
Players of Aerial Work Platform
Market
- Terex Corporation
- JLG Industries
- Aichi Corporation
- Haulotte Group
- Linamar Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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