BANGALORE, India, May 7, 2024 /PRNewswire/ -- Aerial Work Platform (AWP) Market is Segmented by Type (Telescoping Boom Lifts, Articulated Boom Lifts, Scissor Lifts, Truck-Mounted Lifts), by Application (Municipal, Telecommunication, Construction, Industrial Application, Others): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The global Aerial Work Platform (AWP) market was valued at USD 8858.5 million in 2023 and is anticipated to reach USD 11860 million by 2030, witnessing a CAGR of 4.2% during the forecast period 2024-2030.
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Major Factors Driving the Aerial Work Platform (Awp) Market Growth
The market for aerial work platforms (AWPs) is expanding significantly due to a number of important factors. First off, there is a growing need for AWP equipment for jobs like installation, maintenance, and repair at heights because of the global emphasis on infrastructure development and building projects.
Furthermore, strict safety laws requiring the use of dependable and effective access devices are propelling market expansion. In addition, market growth is also aided by the increasing use of AWPs in a variety of sectors, such as manufacturing, utilities, and logistics, to improve worker safety and operational effectiveness. The need for AWP solutions is also being driven by technical developments including the incorporation of IoT, telematics, and increased safety features. With businesses placing a higher priority on productivity, safety, and efficiency, the AWP market is expected to rise steadily.
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TRENDS INFLUENCING THE GROWTH OF AERIAL WORK PLATFORM (AWP) MARKET
Because of their well-known stability and large platform area, scissor lifts are vital for a variety of uses in sectors including warehousing, maintenance, and construction. These lifts enable jobs like installation, painting, and equipment maintenance at heights by offering a sturdy working platform that can sustain large loads and several people. They may be used in confined locations and inside thanks to its vertical lifting mechanism and compact form, which increases their suitability for a wide range of sectors. Scissor lifts continue to be a major growth driver in the aerial work platform (AWP) market as safety standards and efficiency requirements fuel demand for dependable work platforms.
Aerial work platforms are essential for building installation, maintenance, and rehabilitation operations in the construction industry. Tasks like painting, installing HVAC systems, and working on façades at a height are made easier with the use of telescoping boom lifts, scissor lifts, and articulated boom lifts. Because of its adaptability, stability, and reach, AWPs improve worker safety and productivity on construction sites by allowing workers to confidently access elevated work zones. The need for aerial work platforms in the construction industry is expected to continue growing, bolstering market development, as long as global building activity stays strong and safety requirements continue to tighten.
Because of its increased reach and adaptability, telescoping boom lifts are becoming more and more popular in a variety of sectors. For jobs requiring access to high or difficult-to-reach locations, such building sites, industrial facilities, and maintenance operations, these lifts are perfect. Compared to other AWP kinds, their telescopic shape allows for more horizontal outreach, which makes it possible for operators to operate effectively over a variety of job sites. Because telescoping boom lifts are so versatile and have such a wide reach, the AWP industry is growing at a rapid rate as enterprises emphasize worker safety and operational efficiency.
Because of their exceptional mobility and versatility, articulated boom lifts are invaluable in the building, maintenance, and telecommunications sectors. These lifts' many articulated pieces make it simple for operators to reach over barriers and enter tight places. They are very adaptive to different work site situations thanks to their articulation and extension skills, which boost output and worker safety. In the AWP market, articulated boom lifts' continuous expansion is driven by their flexibility and adaptability, which are in high demand as businesses look for equipment that can efficiently negotiate difficult work areas.
Aerial work platforms are essential for servicing and maintaining infrastructure in urban settings. When it comes to fixing streetlights, pruning trees, or performing building inspections, municipal personnel may easily and safely access elevated work sites with the use of AWPs. The various AWP models, which range from articulated boom lifts for streetlight maintenance to scissor lifts for building maintenance operations, are versatile and adaptable enough to meet the varied demands of municipal projects. The need for aerial work platforms in municipal applications is anticipated to increase as cities invest in infrastructure renovations and maintenance programs, propelling market growth.
Aerial work platforms are essential to the manufacturing and warehousing industries for maximizing productivity and guaranteeing worker safety. In industrial environments, scissor lifts and articulated boom lifts are frequently utilized for operations including inventory management, facility inspections, and equipment maintenance. By offering a sturdy and secure working platform, these AWPs reduce the possibility of mishaps and injuries while enabling employees to do activities at height. The market for aerial work platforms for industrial applications is expected to increase as a result of the growing emphasis on worker well-being and productivity in these settings.
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AERIAL WORK PLATFORM (AWP) MARKET SHARE ANALYSIS
The leading companies in the worldwide aerial work platform (AWP) market are Haulotte, JLG, Terex, and others. About 50% of the worldwide market is occupied by the top 3 competitors.
With over 65% of the world market, North America and Europe are the two largest regions.
40% of all boom lifts are telescoping boom lifts, making them the primary variety.
The majority application, or around 40%, is municipal.
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Key Players:
- Terex
- JLG
- Haulotte
- Aichi
- Dingli
- Ruthmann
- Tadano Limited
- TIME Manufacturing
- Altec Inc
- Klubb
- Multitel Pagliero
- Bronto Skylift
- PALFINGER AG
- Handler Special
- CTE
- France Elevateur
- Socage
- Platform Basket
- Teupen
- Oil&Steel
- Hinowa
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