Aerial Work Platform Market (By Product: Electric, Engine-powered; By Product: Scissor Lifts, Boom Lifts, Vehicle-mounted Platforms; By End-use: Rental, Construction & Mining, Transportation & Logistics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 2030

The global Aerial Work Platform market size is expected to be worth around US$ 30.91 billion by 2030, according to a new report by Vision Research Reports.

The global Aerial Work Platform market size was valued at US$ 16.64 billion in 2020 and is anticipated to grow at a CAGR of 7.5% during forecast period 2021 to 2030.

Report Coverage

Report Scope Details
Market Size US$ 30.91 Billion by 2030
Growth Rate CAGR of 7.5% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Engine type, product type, end use
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Terex Corp.; MEC; JLG Industries; Galmon (Singapore); Aichi Corp.;EdmoLift AB; Wiese USA; Linamar Corp.; Advance Lifts, Inc.; Haulotte Group

Growth Factors

 The rising demand for aerial work platforms (AWPs) is attributed to their widespread utilization in end-use industries, such as construction, transportation & logistics, retail, storage, and warehouse. Increasing construction activities across the globe are expected to open new growth avenues for the market. Rising government investments in the construction of residential buildings, commercial complexes, and public transport infrastructure, are expected to propel the demand for aerial lifts over the forecast period.

The demand for AWP witnessed a serious disruption owing to the unprecedented effect from the global pandemic in the majority of its end-use industries, such as construction and transportation & logistics.

By Engine Type Analysis

The electric AWP led the market and accounted for 71.7% of the global revenue share in 2020. Electric AWP is primarily used for indoor applications as they have a lower turning radius. Electric aerial lifts are expected to witness a high growth rate over the forecast period owing to their high capacity and zeroemission. 

The engine-powered AWP segment is expected to witness a CAGR of 5.7% over the forecast period, which is driven by the higher demand for diesel engine-operated lifts used for outdoor applications with a heavy load.

By Product Type Analysis

Boom lifts led the market and accounted for 64.5% of the global revenue share in 2020. Boom lifts are approximately 6 times more expensive than scissor lifts leading to a higher revenue share of the former.

Boom lifts include various types, such as articulating boom lifts, telescopic boom lifts, towable boom lifts, and cherry pickers used for various outdoor applications. Boom lifts provide greater flexibility compared to scissor lifts. They use hydraulic arms that are capable of maneuvering around obstacles leading to higher flexibility.

Vehicle-mounted platforms include scissor as well as boom lifts, which are mounted on the vehicles. The segment is expected to grow at a CAGR of 6.8% over the forecast period.

By End-use Analysis

The rental end-use segment led the market and accounted for 93.6% of the global revenue share in 2020. As the costs of AWPs are very high, a large amount of investment is required to use and maintain these platforms. Not all end users require these platforms daily and hence a majority of them acquire these platforms on lease or rent.

Construction sites involve accessing higher heights and majorly use rough terrain aerial platforms. These sites are prone to accidents related to workers operating at high heights. AWPs offer increased safety and flexibility to workers and operators as compared to conventional solutions.

The demand for AWPs in the transportation and logistics sector is projected to register aCAGR of 9.0% over the forecast period. A rising number of supermarkets and the growing e-commerce industry have increased the number of warehouses and logistic centers around the globe.

Manufacturing facilities require timely maintenance as well as repair. These facilities need an AWP platform to carry out maintenance work of machinery and material handling equipment. AWPs facilitate better access to difficult-to-reach areas in manufacturing plants and other commercial places.

By Regional Analysis

North America led the market and accounted for 52.3% of the global revenue share in 2020 owing to rapidly rising investments in the construction of various residential and commercial complexes. 

Asia Pacific is expected to register the fastest CAGR of 8.6% over the forecast period. Factors, such as increased government investments towards infrastructure development, construction of affordable residences, and development of commercial complexes, are expected to drive the demand for AWPs in the region.

China is one of the largest economies in the Asia Pacific region. The country is one of the major players in various industries, such as construction, power generation, telecom, and clean energy, on the global level. 

The product demand in Middle East & Africa (MEA) is expected to rise rapidly owing to the increasing construction activities in several countries, such as Saudi Arabia, United Arab Emirates (UAE), South Africa, Kuwait, and Nigeria.

Key Players

  • Terex Corp.

  • MEC

  • JLG Industries

  • Galmon (Singapore)

  • Aichi Corp.

  • EdmoLift AB

  • Wiese USA

  • Linamar Corp.

  • Advance Lifts, Inc.

  • Haulotte Group 

Market Segmentation

  • By Engine Type

    • Electric

    • Engine-powered

  • By Product Type

    • Scissor Lifts

    • Boom Lifts

    • Vehicle-mounted Platforms

    • Others

  • By End-use

    • Rental

    • Construction & Mining

    • Transportation & Logistics

    • Others

  • Regional

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Italy

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • South Africa

The Aerial Work Platform market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Aerial Work Platform market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Aerial Work Platform market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aerial Work Platform market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aerial Work Platform market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Aerial Work Platform capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Aerial Work Platform by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aerial Work Platform market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aerial Work Platform market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aerial Work Platform market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Aerial Work Platform industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Aerial Work Platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aerial Work Platform market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aerial Work Platform market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aerial Work Platform market. These factors have benefited the growth of the global market for Aerial Work Platform. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aerial Work Platform. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Aerial Work Platform are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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