Global Aerial Work Platform Market By Engine Type (Electric and Engine-powered), By Product Type (Boom Lifts, Scissor Lifts, Vehicle-mounted Platforms and Other Product Types), By End-use (Rental, Transportation & Logistics, Construction & Mining and Other End-Uses), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Aerial Work Platforms Market Overview:

The global market for aerial work platforms was valued at USD 15,850 million in 2021. This market is expected to expand at a 6.2% compound annual growth rate (CAGR), between 2022-2032.

Global Aerial Work Platform Market:

Engine Type Analysis

The market was led by the electric AWP, which accounted for 71.7% of the global revenue share in 2021. The electric AWP is mostly used indoors because they have a smaller turning radius. Because of their high capacity and zero emissions, electric aerial lifts are predicted to grow at a high rate during the forecast period.

Because of their compact design, these electric lifts can be used for warehousing applications that require narrow aisles and restricted spaces. The components of the electric AWP are smaller than those in the diesel motor. This allows for less downtime. This helps to reduce the maintenance costs of the system. Electric AWPs are not equipped with a hydraulic system that can heat up. This reduces the operating time for diesel-operated lifts.

The segment of engine-powered AWPs is expected to grow at 5.7% annually over the forecast period. This is due in part to the rising demand for diesel-powered lifts that can be used outdoors with a heavy load. These AWPs are designed to maintain worst-case loading application, which facilitates higher vertical reach and high load carrying capacity, and are more construction-oriented compared to electric drives. Engine-operated AWPs eliminate the main drawback of electric AWPs: their inability to operate in remote areas. AWPs that are engine-powered can be deployed from remote areas. This AWP can be used to deploy heavy-duty applications using hydraulic systems.

Product Type Analysis

Boom lifts were the dominant market players and accounted for 63.5% of the global revenue share by 2021. Boom lifts cost 6 times as much as scissor lifts which results in a lower revenue share. Boom lifts’ high cost is due to their exceptional load carrying capacity and their ability to reach higher heights with greater stability.

Boom lifts come in many forms, including articulating boom lifts or telescopic boom lifts. They can also be towable boom lifts or cherry pickers, which are used for many outdoor applications. Boom lifts are more flexible than scissor lifts. The boom lifts are equipped with hydraulic arms capable of maneuvering around obstacles. This allows for greater flexibility.

Scissor lifts are compact and cost-effective. They also have higher operating efficiency and lower maintenance costs. They are often used for vertical lifting and positioning of materials. The ergonomic design of these devices helps increase worker productivity and reduce workplace injuries.

Vehicle-mounted platforms can include both boom lifts as well as scissor lifts. These platforms are mounted on vehicles. Over the forecast period, this segment will grow at a 5.8% compound annual growth rate. Due to their durability, higher reach, safety, and accessibility, vehicle-mounted platforms have been growing in popularity.

End-Use Analysis

The market was led by the rental segment which accounted for 92.6% of the global revenue share for 2021. Because AWPs have high costs, it is necessary to invest a lot in these platforms. Many end-users do not use these platforms every day, so they are leased or rented to the majority. Renting reduces the need for maintenance and saves money.

Construction sites often require workers to reach higher heights. High-altitude workers can cause accidents at these sites. Workers and operators are safer and more flexible with AWPs than they are with conventional solutions. AWPs are likely to be more in demand because of the increased construction activity in countries such as India, China, and Brazil.

The CAGR for AWPs in transportation and logistics is 8.0%. The growing number of supermarkets as well as the e-commerce industry has led to an increase in the number and location of logistics centers and warehouses all over the world. Rapid globalization and the growth of eCommerce businesses have boosted trade activities across the globe. This will likely drive the demand for AWPs.

Manufacturing facilities require regular maintenance and repair. To maintain machinery and handling equipment, these facilities require an AWP platform. AWPs make it easier to reach difficult-to-reach places in manufacturing plants, as well as commercial areas.

Key Market Segments:

Engine Type

• Electric
• Engine-powered

Product Type

• Boom Lifts
• Scissor Lifts
• Vehicle-mounted Platforms
• Other Product Types

End-use

• Rental
• Transportation & Logistics
• Construction & Mining
• Other End-Uses

Market Dynamics:

The demand for aerial work platforms (AWP), will rise due to increased government investment in the construction of residential buildings, commercial complexes as well as public transport infrastructure. Due to the extraordinary effects of the global pandemic in most of its end-use sectors, including construction and transportation & logistic, the demand for AWP experienced serious disruption. Many obstacles have been faced by the aforementioned industries, including contract cancellation, delay, supply-chain disruption, closures at various construction sites, as well as the closing of other sites due to the global lockdown to end the transmission of the virus.

To stop the spread of the COVID-19 virus among workers, there was a temporary shutdown of many U.S.-based construction sites and other industrial facilities. However, the government made significant investments in the construction of several modular hospitals and medical facilities in order to expand and improve the country’s health system. This resulted in increased demand for AWPs.

The aerial work platform is also called Elevating Work Platform or Mobile Elevating Work Platform (MEWP) and allows access to people, equipment, or persons with equipment to reach difficult areas, especially at higher elevations. Aerial work platforms are used to reach areas of construction or maintenance work in different end-use industries. This includes the placing of goods and their storage within warehouse units.
Fully automated warehouses have been growing in popularity in many countries. These warehouses need a lot of single scissor lifts and double scissor lifts. Global e-commerce and logistics companies are expected to invest large amounts in warehouse construction to contribute significantly to market growth.

The market is expected to grow in tandem with the increasing development of urban infrastructure and rural infrastructure worldwide, and the initiatives of various governments to provide technical services including telecommunications, over the forecast period.

Regional Analysis:

North America was the dominant market. It accounted for 52.3% of the global revenue share in 2021. Over the next few years, the growth in the region’s market will be driven by government-sponsored infrastructure development projects, including the construction of bridges, and the development of power transmission networks.

Asia Pacific will see the fastest CAGR at 8.6% during the forecast period. AWPs are expected to be driven by factors such as higher government investments in infrastructure development, affordable housing construction, and the development of commercial complexes.

China is one of the most important economies in the Asia Pacific region. China is a key player in various industries including construction, power generation, telecom, and clean energy. The country is also expected to see rapid technological developments in the areas of logistics, retail, warehousing, and other sectors.

The increasing construction activity in several countries like South Africa and Nigeria is expected to drive product demand in the Middle East & Africa. Products will be driven by infrastructure development programs, such as roads, residential and commercial complexes, and urban planning.

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 Analysis:

Manufacturers are focusing on providing quality-certified equipment to protect workers and ensure safety. In addition, companies invest in the development and research of high-quality AWPs. EdmoLift AB Haulotte Group, Galmon (Singapore), and Shandong Qiyun Group Co. Ltd. offer tailored solutions for the different application industries.

They also participate in mergers & acquisitions in order to increase market share and diversify their market presence. Zhejiang Dingli Machinery Co. Ltd. purchased 24% stock rights from Trupen in August 2020. Trupen is a leading player in the development, manufacture, and sale of spider AWPs.

Key Market Players:

• Terex Corp.
• JLG Industries
• MEC
• Aichi Corp.
• Wiese USA
• Galmon (Singapore)
• Linamar Corp.
• Advance Lifts Inc.
• Other Key Players

For the Aerial Work Platforms Market research study, the following years have been considered to estimate the market size: