Market Research Report
Aerial Work Platform Truck Market, By Product, By End User, By Type, By Platform Height, By Application, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026
|Published by||AnalystView Market Insights||Product code||930122|
|Published||Content info||188 Pages
Delivery time: 2-3 business days
|Aerial Work Platform Truck Market, By Product, By End User, By Type, By Platform Height, By Application, and By Geography - Analysis, Share, Trends, Size, & Forecast From 2020 - 2026|
|Published: March 1, 2020||Content info: 188 Pages||
Aerial Work Platform Truck Market was valued at USD 4.82 billion by 2019, growing with 18.9% CAGR during the forecast period, 2020-2026
Aerial work platform (AWP) are machines which are used to reach difficult areas. AWP is mounted on a truck to perform the desired task. AWP makes use of hydraulics and pneumatics for working efficiently. With the rapid increase in urbanization and transformation of rural areas for meeting the demand of ever-increasing global population will drive the market. This machinery is gaining popularity in various construction operations and in industrial sectors. With the rise in the question of safety and security, these types of machinery are preferred by various contractors, big construction industries, and maintenance operators. Also, the government initiatives towards the construction of roadways, electricity, and railways will further boost the market during the forecast period.
However, the shortage of trained operators and high equipment cost are some of the challenges which the industry will face. To overcome this issue, many machinery providers are giving training to workers. Such training will allow them to operate machines without any trouble, and maintain the safety level.
Depending upon different products, the industry is divided as Boom Lifts, Scissor Lifts, Vertical Mast Lifts, and Personnel Portable Lifts. The boom lifts will get more popularity in product segment because of greater operational efficiency. It is widely used in mining, and construction industry. These lifts are achieving remarkable growth in the rental sector, as many small contractors with less budget take these machines on rent. The tremendous popularity has compelled manufacturers to cater to technologically advanced machines integrated with hybridization, and electrification technology for value addition.
Based on type, the market is classified as Electric, and Engine Powered. Electrically powered platforms will show their dominance in the next few years because of their low-emission and fuel-saving features. Steps were taken by the government, construction industries, and regulatory framework for controlling air pollution, and excess emissions from the construction sector will propel the market of electric platforms.
On the basis of end user, the market is bifurcated into Construction, Telecommunication, Transport & Logistic, and Government. The rental segment is expected to witness significant growth globally. Owing to high investment and maintenance cost, customers prefer to take this platform on rent. One more factor for renting AWP is the reduction in transportation cost. Such facets compel buyers to do some savings and invest that money in other activities.
Platform Height Takeaway
The platform height is categorized as Below 10 Meters, 10 to 20 Meters, 20 to 25 Meters, and above 25 Meters. Machine with platform height between 10 to 20 meters is anticipated to grab maximum market share globally. And the reason behind this demand is acceleration in need for glass-gazing, maintenance, and cleaning work at various commercial areas. Many companies have manufactured height-specific machines for meeting consumers' needs. Such platforms are easy to transport, easy to install and save the time of operators.
The Asia Pacific region is projected to attain a certain level during the forecast period. This reason behind this is the government's investments in countries like Malaysia, India, and others. Also, this region is witnessing many construction projects which require efficient platforms for doing high elevations tasks. Usage of old equipment increases the chances of mishaps, and this has compelled contractors to use platforms for avoiding the loss of life.
The leading companies which are actively participating in this industry are ICHI Corporation, Teupen, Bronto Skylift, Time Benelux, Hunan Runshare, Tadano Ltd., Shen Yang North Traffic Heavy Industry Group, CTE, Altec Inc, Ruthmann GmbH & Co. KG, and Terex.
These leading companies are emphasizing more on the manufacturing of efficient platforms which can be widely used in construction sectors. Also, companies are trying to cover untouched regions to make small economies aware of these platforms. In November 2018, Zoomlin launched aerial work intelligent solutions which are classified as battery-powered lithium platform, electro-hydraulic, and electric platform.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year - 2014 & 2016
Base Year - 2017
Estimated Year - 2020
Projected Year - 2026
Traders, Distributors, and Suppliers
Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Shen Yang North Traffic Heavy Industry Group
Ruthmann GmbH & Co. KG
MARKET, BY PRODUCT
Vertical Mast Lifts
Personnel Portable Lifts
MARKET, BY END USER
Transport & Logistic
MARKET, BY TYPLE
MARKET, BY PLATFORM HEIGHT
Below 10 Meters
10 to 20 Meters
20 to 25 Meters
Above 25 Meters
MARKET, BY APPLICATION
Transportation & Logistics
Construction & Mining
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East and Africa
United Arab Emirates
Rest of MEA