Press release
Aerial Work Platform Market 2027 | Analysis To growing at CAGR of 7.7%
Aerial work platforms (AWPs) are crucial tools used across various sectors such as construction, retail, warehousing, and utilities. These versatile machines, also known as mobile elevating work platforms, aerial lifts, cherry pickers, and bucket trucks, include different types like scissor lifts, articulated and telescopic boom lifts, and vehicle-mounted platforms. AWPs enhance safety for working at heights, reducing the risks associated with traditional equipment like scaffolding.The global market for aerial work platforms is projected to grow from $9.3 billion in 2019 to $14.3 billion by 2027, with a compound annual growth rate (CAGR) of 7.7% from 2020 to 2027.
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Driving Factors:
In 2019, North America led the market, generating 44.0% of the global revenue.In North America, the United States holds a dominant 83.0% share of the regional market. This is due to the early adoption of AWPs and their high demand in routine construction and maintenance tasks.
Additionally, technological advancements in AWP, particularly in emission control and the shift to fully electric models, have driven their growing popularity in the European market, spurring rapid development and adoption.
Boom lifts contribute the most to the AWP market due to their versatility and efficiency. Available in telescopic and articulating varieties, boom lifts can be used for both horizontal and vertical operations. Their ability to reach greater heights makes them especially in demand in the construction and utilities sectors.
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Market Segmentation:
The global aerial work platform market is segmented by type, operation, lift height, end-user industry, and region.
The types include boom lifts, scissor lifts, vehicle-mounted platforms, and others. Operations are categorized into fuel-powered, electric, and hybrid.
The end-user industries are divided into construction, utilities, logistics & transportation, and others. Lift heights are segmented into less than 20 feet, 20 to 50 feet, 50 to 70 feet, and above 70 feet.
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What this Reports Offers:
By type, the boom lift segment dominated the aerial work platform market share in 2019.
On the basis of operation, the fuel powered segment is expected to generate high revenue, globally.
By lift height, the 20 to 50 feet segment dominated the aerial work platform market during 2019.
Depending on end-user industry, the construction segment garnered major share of the aerial work platform market in 2019.
Region wise, North America dominated the market in 2019.
Asia-Pacific is expected to witness a high growth rate during the forecast period.
Top Players:
The major players operating in the aerial work platform industry include Aichi Corporation, Altec Inc., Haulotte Group, J. C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Teupen, and Zhejiang Dingli Machinery Co., Ltd.
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