SAN FRANCISCO, Sept. 22, 2020 /PRNewswire/ -- The global
aerial work platform market size is anticipated to reach
USD 16.76 billion by 2027,
according to a new report by Grand View Research, Inc., expanding
at a CAGR of 6.0% from 2020 to 2027. Increasing government
investment in the private sector, along with rapid infrastructure
development in Asia Pacific, is
anticipated to surge market growth over the forecast period.
Key suggestions from the report:
- Asia Pacific is expected to
expand at the fastest CAGR of 7.6% from 2020 to 2027 owing to an
increase in construction activities in the ASEAN region, along with
rising demand for access equipment in the Indian steel
industry
- By engine type, the engine-powered aerial work platform
segment is expected to witness the fastest growth from 2020 to 2027
owing to increasing demand for diesel boom lifts for heavy-duty
outdoor work and rough terrain surfaces
- By product type, boom lifts are anticipated to maintain
their lead over the forecast period as they are versatile machines
that could be used from utilities and construction to storage and
shipping industries
- The electric engine type segment held the largest share of
62.4% in 2019 owing to rising demand for maintenance and repair
services in the residential construction sector
- The construction end-use industry is expected to maintain
its lead over the forecast period on account of increasing
investments in new infrastructure, along with reforms to encourage
Public Private Relationships (PPPs) in the Asia Pacific region.
Read 100 page research report with ToC on "Aerial Work
Platform Market Size, Share & Trends Analysis Report By Product
Type (Boom Lifts, Scissor Lifts), By Engine Type (Electric,
Engine-powered), By End User, By Region, And Segment Forecasts,
2020 - 2027'' at:
https://www.grandviewresearch.com/industry-analysis/aerial-work-platform-market
Implementation of stringent worker safety regulations worldwide,
rising adoption of advanced lifting technologies, and a growing
number of rental AWP companies in China in the last three years, coupled with a
rise in construction spending in the ASEAN region, are expected to
create opportunities for AWP manufacturers over the next seven
years.
Aerial work platforms are highly used in the maintenance and
construction of mining infrastructure, including processing
facilities, overhead conveyors, and other facilities in and around
the mine site. Robust demand for new infrastructure investment in
the metals and mining sector is expected to create opportunities
for AWP manufacturers over the forecast period.
According to Eurostat, EU construction output growth is
anticipated to see a contraction of 11.5% in 2020, followed by a
rebound of 6% in 2021, on account of the ongoing coronavirus
pandemic. In addition, no increase in spending on commercial
facilities, along with reduced government spending and economic
uncertainty, is expected to restrict market growth over the
forecast period.
Grand View Research has segmented the global aerial work
platform market on the basis of engine type, product type,
end-user, and region:
- Aerial Work Platform Engine Type Outlook (Revenue, USD
Million, 2016 - 2027)
-
- Aerial Work Platform Product Type Outlook (Revenue, USD
Million, 2016 - 2027)
-
- Boom Lifts
- Scissor Lifts
- Vertical Mast Lifts
- Personal Portable Lifts
- Aerial Work Platform End-user Outlook (Revenue, USD Million,
2016 - 2027)
-
- Construction
- Retail, Storage, and Warehouses
- Transportation and Logistics
- Others
- Aerial Work Platform Regional Outlook (Revenue, USD Million,
2016 - 2027)
-
- North America
-
- Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Central & South
America
-
- Middle East & Africa
-
- South Africa
- South Arabia
List of Key Players of Aerial Work Platform Market
- Terex Corporation
- JLG Industries
- Aichi Corporation
- Haulotte Group
- Linamar Corporation
Find more research reports on Advanced Interior Materials
Industry, by Grand View Research:
- Scissor Lift Market – The global scissor lift market size was
valued at USD 2.85 billion in 2019
and is expected to grow at a compound annual growth rate (CAGR) of
6.5% from 2020 to 2027.
- Aerospace & Defense C-class Parts Market – The global
aerospace & defense c-class parts market size was estimated at
USD 15.21 billion in 2019 and is
projected to expand at a compound annual growth rate (CAGR) of 4.5%
from 2020 to 2027.
- Aerospace Parts Manufacturing Market – The global aerospace
parts manufacturing market size was estimated at USD 907.2 billion in 2019 and is expected to
expand at a CAGR of 4.1% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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Grand View Research, Inc.
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