Aerial Work Platform Truck Market Size, Share, Report 2024-2033
The global aerial work platform truck market was surpassed at USD 13.18 billion in 2023 and is expected to hit around USD 27.47 billion by 2033, growing at a CAGR of 7.62% from 2024 to 2033. The aerial work platform truck market is a dynamic sector experiencing substantial growth globally. Aerial work platform trucks, also known as elevated work platforms or mobile elevating work platforms (MEWPs), are essential equipment in various industries, offering a safe and efficient solution for tasks that require working at height. This overview delves into key aspects of the market, providing insights into its current state and future trends.
The aerial work platform truck market is experiencing robust growth propelled by several key factors. Firstly, the escalating emphasis on workplace safety across diverse industries has fueled a heightened demand for these specialized vehicles, as they offer a secure solution for tasks necessitating work at elevated heights. Additionally, the global trend of urbanization and escalating infrastructure development projects has significantly contributed to the market's expansion, with aerial work platform trucks becoming indispensable in facilitating construction and maintenance activities. Technological advancements have played a pivotal role, enhancing the efficiency and safety features of these trucks, making them more appealing to industries seeking cutting-edge solutions. Furthermore, stringent regulatory compliance requirements mandating the use of appropriate equipment in the workplace have driven companies to invest in compliant aerial work platform trucks, further stimulating market growth. As the market continues to evolve, these growth factors collectively create a favorable environment for sustained expansion and innovation within the aerial work platform truck industry.
| Report Coverage | Details |
| Market Revenue by 2033 | USD 27.47 billion |
| Growth Rate from 2024 to 2033 | CAGR of 7.62% |
| Revenue Share of North America in 2023 | 32% |
| CAGR of Asia Pacific from 2024 to 2033 | 7.56% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Aerial work platform truck products mainly comprise boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts. The boom lift segment accounted for the largest revenue share of 38% in 2023. It may be attributed to increasing usage in intricate architectural settings or confined spaces with limited access. Further, boom lifts offer several benefits, including more platform height, mobility, tight turning radius, standard oscillating axle, and compact design.
The scissor lifts segment is expected to grow at a significant CAGR of 7.63% during the forecast period. Increasing demand in maintenance and installation applications may fuel scissor lifts demand over the next few years. Additionally, operational benefits offered by scissor lifts, such as maneuvering capability in tight spaces, may spur product demand significantly.
The end-use segments include construction, telecommunication, transport & logistics, and government sectors. The construction segment contributed the largest market share of 36% in 2023, owing to increasing government and private investment in the real-estate sector and infrastructure development. Growing concerns regarding worker safety are also anticipated to fuel product demand in this sector.
The telecommunication segment is anticipated to grow at a significant CAGR of 7.95% over the forecast period. It may be attributed to a surge in demand, particularly for relevant infrastructure across the telecommunication sector, primarily in developing regions such as Brazil, India, and China.
The transport & logistics sector may also grow considerably due to the growing demand for material handling in manufacturing plants. The government sector is expected to be driven by increasing investment in infrastructure development and other related activities.
North America dominated the market with the largest revenue share of 32% in 2023. The robust construction industry and stringent regulatory scenario regarding regional safety norms drive product demand. Latin America and MEA may also witness an upsurge in demand, attributed to the changing regulations and a rise in government investment for infrastructure development. Additionally, a growing number of large construction projects, especially in Middle east countries, is anticipated to elevate product demand over the coming years.
Asia Pacific is expected to grow at a significant CAGR of 7.56% during forecast period, due to growing infrastructure and heavy investments, both in the commercial and domestic sectors. Smartphone proliferation and the associated need for improved telecom infrastructure may positively impact the industry demand over the forecast period.
By Product
By End-Use
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Aerial Work Platform Truck Market
5.1. COVID-19 Landscape: Aerial Work Platform Truck Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Aerial Work Platform Truck Market, By Product
8.1. Aerial Work Platform Truck Market, by Product, 2024-2033
8.1.1. Boom Lifts
8.1.1.1. Market Revenue and Forecast (2021-2033)
8.1.2. Scissor Lifts
8.1.2.1. Market Revenue and Forecast (2021-2033)
8.1.3. Vertical Mast Lifts
8.1.3.1. Market Revenue and Forecast (2021-2033)
8.1.4. Personnel Portable Lifts
8.1.4.1. Market Revenue and Forecast (2021-2033)
Chapter 9. Global Aerial Work Platform Truck Market, By End-Use
9.1. Aerial Work Platform Truck Market, by End-Use, 2024-2033
9.1.1. Construction
9.1.1.1. Market Revenue and Forecast (2021-2033)
9.1.2. Telecommunication
9.1.2.1. Market Revenue and Forecast (2021-2033)
9.1.3. Transport & Logistics
9.1.3.1. Market Revenue and Forecast (2021-2033)
9.1.4. Government
9.1.4.1. Market Revenue and Forecast (2021-2033)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2021-2033)
Chapter 10. Global Aerial Work Platform Truck Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2021-2033)
10.1.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.1.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.1.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2021-2033)
10.2.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.2.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.2.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2021-2033)
10.2.5.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2021-2033)
10.2.6.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.3.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.3.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2021-2033)
10.3.5.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2021-2033)
10.3.6.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.4.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.4.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2021-2033)
10.4.5.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2021-2033)
10.4.6.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2021-2033)
10.5.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2021-2033)
10.5.3.2. Market Revenue and Forecast, by End-Use (2021-2033)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2021-2033)
10.5.4.2. Market Revenue and Forecast, by End-Use (2021-2033)
Chapter 11. Company Profiles
11.1. AICHI CORPORATION
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Altec Industries
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Bronto Skylift
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. CTE
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. RUNSHARE Heavy Industry Company, Ltd
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Calcanto Werbeagentur
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Shenyang North Traffic Heavy Industry Group Co., Ltd
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Tadano Ltd.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. Terex Corporation
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. TEUPEN Maschinenbau GmbH
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers