Aerial Work Platform Market is Expected to Enhance USD 25.91 Billion Revenue By 2028: Grand View Research Inc.

 Aerial Work Platform Market Growth & Trends

The global aerial work platform market size is anticipated to reach USD 25.91 billion by 2028, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. The rising demand for aerial work platforms (AWPs) is attributed to their widespread utilization in end-use industries, such as construction, transportation & logistics, retail, storage, and warehouse. Increasing construction activities across the globe are expected to open new growth avenues for the market. Rising government investments in the construction of residential buildings, commercial complexes, and public transport infrastructure, are expected to propel the demand for aerial lifts over the forecast period.

Recent years have witnessed a positive trend in the demand for different types of AWPs, especially boom lifts and scissor lifts, in various end-use industries, such as construction, retail stores & warehouses, and transportation & logistics. These aerial platforms reduce human efforts to a large extent and help reach inaccessible heights with comfort. The global market exhibits the dominance of well-established players, such as Terex Corp., MEC, Aichi Corp., Haulotte Group, and Linamar Corp. The established players in the industry exhibit higher sales and a broader distribution network along with a wider product line.

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Aerial Work Platform Market Report Highlights

• The electric AWP accounted for the largest revenue share in 2020 due to the increased product demand in the indoor maintenance and repair activities
• The demand for boom lifts is expected to grow at the fastest CAGR of 6.8% over the forecast period owing to their ability to maneuver various obstacles, especially in repairing electric utilities and construction-related activities
• The demand for AWP in the transportation and logistics sector is projected to register the fastest CAGR during the forecast period owing to the increasing number of warehouses and logistic centers around the globe
• Asia Pacific is estimated to witness the maximum growth rate over the forecast period on account of the rising construction activities in ASEAN countries along with the growing e-commercesector in the region
• The market is expected to be spurred by technological advancements, such as Genie’s launch of E-Drive slab scissor lifts, which run on an optimized AC electric drive system to achieve emission-free and clean operations in compact premises, such as hospitals, gymnasiums, and supermarkets

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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 use, and region

AWP Engine Type Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

• Electric
• Engine-powered

AWP Product Type Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

• Scissor Lifts
• Boom Lifts
• Vehicle-mounted Platforms
• Others

AWP End-use Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

• Rental
• Construction & Mining
• Transportation &Logistics
• Others

AWP Regional Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • UK.
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Central & South America
  • Argentina
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players of Aerial Work Platform Market

• Terex Corp.
• MEC
• JLG Industries
• Galmon (Singapore)
• Aichi Corp.
• EdmoLift AB
• Wiese USA
• Linamar Corp.
• Advance Lifts, Inc.
• Haulotte Group

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.