Market Insights

As per the report, the aerial work platform market was estimated at USD 16.52 billion in 2021 and is likely to grow at a CAGR of 6.21% during 2022-2028 to reach USD 25.26 billion in 2028.

The major factors contributing to the growth of the aerial work platform market are increasing investments in the real estate sector, increasing government investment in the private sector, and growing infrastructure development, especially in the Asia-Pacific region.

What is an aerial work platform?

An aerial work platform (AWP), also acknowledged as an aerial device is a mechanical device employed to provide momentary access for people or equipment to unreachable areas, usually at some height. These are generally used for upkeep and construction work or by firefighters for emergency access.

COVID-19 IMPACT

The aerial work platform market witnessed negative growth due to the Covid-19 pandemic in the year 2020. The pandemic has led to supply chain disruptions which ultimately lead to supply shortages and lower demand for the aerial work platform market.

Key Players

Stratview Research tracks all the major product launches, mergers, and acquisitions over the past few years. The identification of key players in the market is based on both primary interview results as well as available authentic secondary data sources. According to the research, the following are the key players in the Aerial Work Platform Market.

• Advance Lifts, Inc.
• Aichi Corporation
• EdmoLift AB
• Galmon (S) Pte Ltd
• Haulotte Group
• JLG Industries
• Linamar Corporation
• MEC Aerial Work Platforms
• Terex Corporation
• Wiese USA

This report aims at providing critical market information and valuable insights which are of high value to the users, enabling them to identify strategic growth opportunities in the market. The report also aims at answering the following key questions:

• What is the current and future market potential of the Aerial Work Platform Market?
• How will the COVID-19 pandemic impact the market?
• What will be the short and long-term repercussions of the pandemic?
• How are other crucial market factors changing the market dynamics?
• When is the recovery expected from the pandemic?
• After the pandemic, which region will heal up at the fastest pace?
• Which segments offer high-growth opportunities in the long run?
• How fierce is the market competition?
• What are the key emerging trends and unmet needs?
• What are the strategic growth opportunities and key success factors?

Segments Analysis

Based on the product type, the market is segmented as boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts. Boom lifts held the largest share of the market in 2021, due to their versatile nature as they can be used in utilities and construction to storage and shipping industries.

Based on the end-user type, the aerial work platform market is segmented as construction, retail, storage, warehouses, transportation and logistics, and others. The construction segment dominated the market in 2021. Aerial work platforms are majorly used in the maintenance and construction of mining infrastructure and high demand for new infrastructure investment in the metals and mining sector is likely to drive the segment’s market.

Based on the engine type, the aerial work platform market is segmented as electric and engine-powered. The electric aerial work platform segment dominates the market and is likely to grow at an excellent rate in the coming years, due to the increasing demand for maintenance and repair services in the residential construction sector.

In terms of regions, North America dominated the aerial work platform market in 2021, whereas Asia-Pacific is expected to grow at the fastest pace during the forecast period. China and India are the key growth engines of the Asia-Pacific market. Europe is also expected to offer lucrative growth opportunities during the forecast period.

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