Global Aerial Work Platform (AWP) Truck Market By Product (Boom Lifts, Scissor Lifts, and Others) By End-Use (Construction, Telecommunication, Transport & Logistics, and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Aerial Work Platform (AWP) Truck Market Overview:

In 2021, this global market was valued at more than USD 11,700.1 Million with a CAGR of 9.40%.

Industry growth is expected to be driven by the rising demand in the telecommunications sector, particularly in India, China, and Brazil. An increase in maintenance as well as repairs events in developed areas such as North America and Europe could also drive demand for AWP trucks.

Global Aerial Work Platform (AWP) Truck Market Scope:

Product analysis

Boom lifts and scissor lifts are the main products of this market. Boom lifts will continue to grow and hold the largest market share in the coming years. This could be due to boom lifts being used in more complex architectural settings and in confined spaces that have limited access.

Boom lifts offer many benefits, including increased mobility and close-fitting turning radius, platform height. In 2021, more than 45.5% of this market was accounted for by scissor lifts. In the coming years, scissor lifts will be in high demand due to increased demand for installation and maintenance.

End-Use analysis

Construction, logistics, government, and telecommunication sectors. Due to rising private and public investment in real estate, construction is anticipated to continue to dominate the market and develop at an 18.1% of CAGR. The demand for products in this industry is also expected to increase as consumer worries over worker safety grow.

Over the projection period, the telecommunications sector is anticipated to experience strong penetration and expansion. This might be ascribed to an increase in demand for pertinent infrastructure, particularly in developing nations like India, Brazil, and China, across the telecommunications sector. Due to the increasing need for factual handling in the transport and logistics industry and manufacturing facilities may potentially experience significant expansion.

Kеу Маrkеt Ѕеgmеntѕ

By Product

• Boom Lifts
• Scissor Lifts
• Vertical Mast Lifts
• Personnel Portable Lifts

By End-Use

• Construction
• Telecommunication
• Transport & Logistics
• Government
• Other End-Uses

Market Dynamics:

The demand for real estate will rise due to increased government investment and rapid infrastructure development. This is especially true in the Asia Pacific. This industry is poised to grow due to rising requests for material handling equipment for manufacturing units and factories, as well as increasing concerns about worker safety.

For the companies in the business, significant technological developments in AWP are opening up new market potential. Manufacturers are creating innovative, safe, and efficient machines. Many businesses are incorporating virtual reality elements that offer safety and aid in training new AWPs. The market adoption of these technologies is being driven by the increased demand for workers and public safety at work sites as well as rising fatality rates.

Regional Analysis

The APAC market will experience high growth due to increasing infrastructure and large investments in both the domestic and commercial sectors. The industry’s demand for AWP trucks could be positively affected by the proliferation of smartphones as well as the related need to improve telecom infrastructure.

Due to numerous renovations and up-gradations in these areas, North America, as well as Europe’s this market, is expected to experience significant growth. Product demand may be boosted by the strict regulatory environment in these areas regarding safety norms. This may be due to a changing regulatory environment and increased government investment in infrastructure development. In the future, product demand will rise due to the increasing amount of large-scale construction projects in MEA.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Aichi Corporation and Altec Inc. dominate the aerial work platform truck market. As a key strategy for growth, innovation and product differentiation may be key. The core business strategy also includes mergers and acquisitions. In order to be competitive, industry participants must compete on new product development, pricing, and improved distribution channels.

Many manufacturers and vendors focus on creating low-weight, boom-supported elevating platforms that meet end-user needs. Companies also focus on automation of the manufacturing process in order to improve product quality and reliability. For a stronger global footprint, companies also focus on joint ventures and partnerships. Major vendors also consider mergers and acquisitions an important part of their growth strategy and business expansion.

Маrkеt Кеу Рlауеrѕ:

• Aichi
• Altec
• Bronto Skylift
• CTE
• Runshare
• Ruthmann
• Shen Yang North Traffic Heavy Industry Group
• Tadano
• Terex
• Time Benelux
• Other Key Players

For the Global Aerial Work Platform (AWP) Truck Market research study, the following years have been considered to estimate the market size: