Aerial Work Platforms Market Trends, Size, Share, Growth - 2030
[Research Report] The aerial work platforms market was valued at US$ 16,210.00 million in 2022 and is projected to reach US$ 28,951.38 million by 2030; it is expected to register a CAGR of 7.52% from 2022 to 2030.
Analyst Perspective:
The aerial work platforms market is broadly segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2022, North America led the global aerial work platforms market with 35.83% market share, followed by North America and Asia Pacific. Asia Pacific is anticipated to be the fastest-growing region and is expected to record an impressive CAGR of 8.6% from 2022 to 2030. The aerial work platforms market share of North America is analyzed by the presence of developed countries such as the US and Canada, where construction activities are growing at a significant pace. Considering a rise in the adoption of advanced and smart technologies, the US and Canada offer lucrative opportunities to grow the aerial work platforms market in the coming years.
Europe registered the second largest market share of 30.23% in 2022 and is expected to record a CAGR of 7.2% from 2022 to 2030. In Europe, the aerial work platforms market growth is characterized by a diverse demand across industries, including the construction and manufacturing sectors. The region's commitment to sustainability is reflected in the increasing adoption of eco-friendly AWPs. Economic uncertainties pose challenges, but opportunities arise from infrastructure renewal initiatives and technological advancements.
Market Overview:
The aerial work platforms market specifically focuses on equipment designed for safely elevating workers, along with the required tools to perform tasks at elevated heights. Aerial work platforms are also known as elevated work platforms (EWPs) or mobile elevating work platforms (MEWPs). These platforms are widely used in various industries such as construction and maintenance, where access to elevated areas is necessary.
The adoption of electric and hybrid-powered aerial work platforms (AWPs) and other eco-friendly practices plays a key role in enhancing a company's public image. This commitment to sustainability not only reflects corporate responsibility but also resonates positively with consumers and stakeholders. Several key factors highlight the way businesses utilize eco-friendly AWPs in order to gain positive public perception and strengthen brand loyalty. Companies incorporating electric and hybrid AWPs demonstrate a commitment to environmental stewardship. This aligns with broader societal expectations for businesses to actively engage in practices that reduce carbon footprints and contribute to mitigating climate change. The adoption of green technologies creates positive brand associations. Businesses that prioritize eco-friendly solutions are perceived as forward-thinking, socially responsible, and in tune with evolving consumer values. The positive public perception resulting from eco-friendly practices attracts clients who prioritize sustainability. This is particularly relevant in industries where clients seek partners and suppliers with a demonstrated commitment to environmentally responsible practices.
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Aerial Work Platforms Market: Strategic Insights
Aerial Work Platforms Market
-
CAGR (2022 - 2030)
7.52%
-
Market Size 2022
US$ 16.21 Billion
-
Market Size 2030
US$ 28.95 Billion
Market Dynamics
GROWTH DRIVERS
- Growth in Construction Activities and Infrastructure Projects
- Rise in Ongoing Maintenance Requirements
- Focus on Workplace Safety
FUTURE TRENDS
- Growing Demand for Electric and Hybrid powered Aerial Work Platforms
OPPORTUNITIES
- Increasing Trend of Renting Equipment
- Customization and Specialized Applications
Key Players
- Terex Corporation
- IMER International SpA
- Fabrication Authorities International Inc
- Hinowa SpA Tadano LTD
- Zoomlion Heavy Industry Na Inc
- Sany Palfinger SPV Equipment Co Ltd
- Jinan Nostec Equipment Co Ltd
- JLG Industries Inc
- Xuzhou Construction Machinery Group Co Ltd
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Scissors Lifts
- Boom Lifts
- Telehandlers
- Vertical Mast Lifts
End-user
- Construction
- Utility
- Mining
- Transport
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aerial Work Platforms Market: Strategic Insights
-
CAGR (2022 - 2030)7.52% -
Market Size 2022
US$ 16.21 Billion -
Market Size 2030
US$ 28.95 Billion
Market Dynamics
- Growth in Construction Activities and Infrastructure Projects
- Rise in Ongoing Maintenance Requirements
- Focus on Workplace Safety
- Growing Demand for Electric and Hybrid powered Aerial Work Platforms
- Increasing Trend of Renting Equipment
- Customization and Specialized Applications
Key Players
- Terex Corporation
- IMER International SpA
- Fabrication Authorities International Inc
- Hinowa SpA Tadano LTD
- Zoomlion Heavy Industry Na Inc
- Sany Palfinger SPV Equipment Co Ltd
- Jinan Nostec Equipment Co Ltd
- JLG Industries Inc
- Xuzhou Construction Machinery Group Co Ltd
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Scissors Lifts
- Boom Lifts
- Telehandlers
- Vertical Mast Lifts
- Construction
- Utility
- Mining
- Transport
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Driver:
Growth in Construction Activities and Infrastructure Projects is Driving the Aerial Work Platforms Market Growth
The growth in construction activities and infrastructure projects significantly drives the aerial work platforms market growth due to the specific requirements and advantages offered by these platforms. Construction projects often involve work at elevated heights, such as installing structural components, roofing, or facade work. Rapid urbanization and the rise in population drive the need for new housing, commercial spaces, and infrastructure. For instance, Saudi Arabia is planning to become one of the largest construction sites in the world, with approximately US$ 1.1 trillion of investment in infrastructure and real estate projects. These infrastructure and real estate development projects include Neom Super City, King Salman Park, Diriyah Gate, The Red Sea Projects, Jeddah Economic City, and Jeddah Central Projects. As cities expand, the construction of high-rise buildings and large-scale projects necessitates AWP for safe and efficient construction. AWPs provide a safe and efficient means for workers to access these elevated areas. As construction projects become more complex, with taller buildings and intricate structures, there is a growing need for equipment that can provide increased vertical reach. Boom lifts and scissor lifts, which are common types of AWPs, are designed to meet these requirements. AWPs are versatile and can be used for a wide range of construction tasks. These platforms are used while painting, doing electrical work, HVAC installation, or general maintenance, as they provide a flexible solution for accessing various work areas. As construction activities and infrastructure projects expand, the demand for aerial work platforms grows in tandem, driven by the need for safe, efficient, and versatile solutions for working at elevated heights. Thus, the growth in construction activities and infrastructure projects drives the aerial work platforms market.
Segmental Analysis:
Based on type, the global aerial work platforms market share is segmented into scissor lifts, boom lifts, telehandlers, vertical mass lifts, and others. Aerial work platform products are designed to manage the lifting as well as shifting of the loads/items from one to another. The size of these platforms depends on their specific application. Rising awareness about the advantages of using platforms with different accessories among end users drives the aerial work platforms market worldwide.
Regional Analysis:
In North America, the robust development in the construction industry is a significant driver of the aerial work platforms market, as it relies on AWPs for building construction, maintenance, and infrastructure projects. The emphasis on workplace safety, efficiency, and adherence to regulations amplifies the widespread adoption of AWPs. Several factors drive the aerial work platforms market in the region, including the mounting demand for infrastructure development, rising demand for renovation and repair work, and rapid urbanization. Challenging factors include economic fluctuations that can impact construction activities, and capital expenditures are expected to restrain the growth of the aerial work platforms market in the coming years. Additionally, there are challenges related to stringent safety regulations, driving the need for continuous innovation and adherence to evolving standards, which, in turn, are expected to hinder the aerial work platforms market growth during the forecast period.
In addition, the energy sector is one of the most significant users of aerial work platforms for various applications, such as maintenance of power infrastructure and utility installations, which is expected to fuel the aerial work platforms market growth in the coming years. Mining operations in Peru and Chile utilize these platforms to access elevated areas in challenging terrains. As per the United States Geological Survey (USGS), Chile is the top producer of copper in the world, accounting for 5.2 million metric ton in 2022. In addition, Chile is the second-largest producer of lithium, with 30% of total global production in 2022. Hence, the mining industry in Chile is anticipated to fuel the growth of the aerial work platforms market in the coming years with the rise in demand for lithium and copper mining from the energy industry.
As industries prioritize safety and efficiency, the demand for aerial work platforms is anticipated to grow, driven by the need for versatile solutions across diverse sectors in the region.
Aerial Work Platforms Market Report Scope
Report Attribute
Details
Market size in 2022
US$ 16.21 Billion
Market Size by 2030
US$ 28.95 Billion
Global CAGR (2022 - 2030)
7.52%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Type - Scissors Lifts
- Boom Lifts
- Telehandlers
- Vertical Mast Lifts
By End-user - Construction
- Utility
- Mining
- Transport
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Terex Corporation
- IMER International SpA
- Fabrication Authorities International Inc
- Hinowa SpA Tadano LTD
- Zoomlion Heavy Industry Na Inc
- Sany Palfinger SPV Equipment Co Ltd
- Jinan Nostec Equipment Co Ltd
- JLG Industries Inc
- Xuzhou Construction Machinery Group Co Ltd
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 16.21 Billion |
Market Size by 2030 | US$ 28.95 Billion |
Global CAGR (2022 - 2030) | 7.52% |
Historical Data | 2020-2021 |
Forecast period | 2023-2030 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Key Player Analysis:
Terex Corporation, IMER International SpA, Fabrication Authorities International Inc, Hinowa SpA, Tadano LTD, Zoomlion Heavy Industry Na Inc, Sany Palfinger SPV Equipment Co Ltd, Jinan Nostec Equipment Co Ltd, JLG Industries Inc, and Xuzhou Construction Machinery Group Co Ltd are among the key aerial work platforms market players operating in the market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the global aerial work platforms market. A few recent developments by key aerial work platforms market players are listed below:
Year | News | Region |
Nov-2023 | Access Worx stated that it has entered into an exclusive cooperation with Palazanni and IMER, two well-known Italian businesses. With this strategic partnership, Access Worx offered a broad range of goods and services, strengthening its position in the Australian market. | Europe |
June-2023 | JLG unveiled the X660SJ compact crawler boom lift. The X660SJ boasts a platform height of 65 feet, 7 inches; a 500-pound capacity for up to two people; a 39-foot horizontal reach; and the ability to be used both indoors and outdoors. | North America |
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Terex Corporation, IMER International SpA, Sany Palfinger SPV Equipment Co Ltd, JLG Industries Inc, and Xuzhou Construction Machinery Group Co Ltd key market players operating in the global aerial work platforms market.
Businesses worldwide are placing a heightened emphasis on sustainability and environmental responsibility as a core component of their corporate social responsibility initiatives. The adoption of electric and hybrid-powered AWPs aligns with these sustainability goals, allowing companies to reduce carbon footprint and contribute to environmental preservation.
In North America, the robust development in the construction industry is a significant driver of the aerial work platforms market, as it relies on AWPs for building construction, maintenance, and infrastructure projects. The emphasis on workplace safety, efficiency, and adherence to regulations amplifies the widespread adoption of AWPs.
The increasing trend of renting equipment rather than outright ownership aligns with the evolving needs and preferences of businesses across industries. Renting AWPs provides businesses with a cost-efficient alternative to purchasing, particularly for those with intermittent or project-specific needs. This approach allows companies to allocate capital to other critical areas while still gaining access to advanced and specialized AWP models.
The growth in construction activities and infrastructure projects significantly drives the demand for aerial work platforms (AWPs) due to the specific requirements and advantages offered by these platforms. Construction projects often involve work at elevated heights, such as installing structural components, roofing, or facade work. Rapid urbanization and the rise in population drive the need for new housing, commercial spaces, and infrastructure.
The List of Companies - Aerial Work Platforms Market
- Terex Corporation
- IMER International SpA
- Fabrication Authorities International Inc
- Hinowa SpA, Tadano LTD,
- Zoomlion Heavy Industry Na Inc
- Sany Palfinger SPV Equipment Co Ltd
- Jinan Nostec Equipment Co Ltd,
- JLG Industries Inc
- Xuzhou Construction Machinery Group Co Ltd
- Hinowa SpA