Press Release: March 30, 2020
The Global Aerial Work Platform Market is projected to reach USD 22.01 billion by 2028, growing at a CAGR of 8.1% during the forecast period.
Companies Covered: Major Companies profiled in the report which are key players in the global aerial work platform market. Niftylift, JLG Industries Inc., Snorkel, Haulotte, Terex Corporation, Aichi Corporation, Skyjack, Tadano, Manitou, Holland Lift, and Sinoboom, Altec Inc., BrontoSkylift, Diversified Technologies, MEC Aerial Work Platforms, Oshkosh Corporation, Palfinger AG..
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Improving living standards, dual-income families and growing disposable income are driving the growth of this market in developing countries. Rapid industrialization accompanied by improvements in infrastructure along with increasing demand for consumer products has created new opportunities and gateways.
Each section of the report provides critical information about the global 55 market which could be used in the coming years to ensure strong growth. Our unique combination of primary and secondary research methods has helped us spot hidden business opportunities on the global 55 market, in addition to collecting significant market participant’s perspectives and reliable market data.
This involves several research studies, such as cost analysis of manufacturing, absolute dollar profit, analysis of costs, profiling of firms, analysis of production and consumption, and market dynamics.
The global 55 market size for each year of the forecast period is correctly calculated in terms of both revenue and volume. For the period 2020-2028, the study offers accurate price analysis by country, producer, the segment of each form, and global price analysis. It also offers price analysis by segment type and supplier for the 2020-2028 period.
The study starts with a global market perspective for 55 that includes key market trends and critical market statistics. This market research study also provides the market value of the major segments of the global 55 market. QMI has found a comprehensive overview and global market description that helps readers better understand the core 55 market information. It also highlights the exclusions and inclusions which help the client understand the 55 market's reach.
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The report provides a list of all the key players in the 55 market along with a detailed analysis of the strategies that are being implemented by the companies. The approaches include mainly new product development, analysis, and development, and also provide revenue reports, business history, and recent company innovations to remain competitive in the marketplace.
Based on the product, the personal portable lifts segment is expected to have a significant share in the aerial work platform market during the forecast period. Personal portable lifts are gaining popularity among applications for in-house maintenance and temporary construction for low-height activities. Due to technical advancements in machinery sectors, the low-level access platforms are being replaced by conventional ladders & scaffolding to achieve high safety levels. Several businesses working on the AWP market are creating new personal portable lifts that are provided as secure solutions to standard ladders.
Based on the application, the construction & mining application is expected to have a prominent share in the aerial work platform market during the forecast period. They are increasingly deployed in complex building & general infrastructure projects across the globe. Government initiatives primarily deploy effective machines & platforms to improve security and decrease the burden on human employees. The rising awareness in the South-East Asian countries and other developing countries related to machinery & time-saving benefits is further rising the requirement for technically-advanced platforms to address the construction sector demand. Countries including South Africa, India, and Japan are experiencing a number of infrastructure transformation operations expected to deliver enormous quantities of AWPs, further promoting market growth opportunities.
The North America aerial work platform market is expected to have a significant share in the market during the forecast period which can be attributed to several building maintenance & construction activities across the commercial & residential sectors. The demand is also increasing due to the presence of a technically-aware and economically-stable population, supporting the deployment of costly AWPs. In addition, strong government support for the use of freshly produced products with safety parameters and reduced employee accidents leads to elevated consumption of new products in the sector. Workers receive licensed training from producers and other organizations to guarantee safety and decrease fatalities in the workplace, contributing further to the growth of the AWP industry.
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