December 07, 2020
According to the research report titled ‘(AWP) Aerial Work Platform Rental Market Size By Product By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2020 – 2026’, available with Market Study Report LLC, global aerial work platform (AW) rental market is predicted to expand significantly during 2020-2026.
Escalating investments towards construction activities and subsequent rise in infrastructural development coupled with rapid urbanization are some of the key factors driving the growth of global aerial work platform rental platform market.
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An aerial work platform is basically a mechanical cost effective as well as an easy-to-use solution owing to its compact size and lightweight nature. It is extensively used in schools, churches, and warehouses among others for maintenance and building activities. In this regard, inclination towards renting equipment in order to maintain flexibility is also fueling the market growth.
Increasing awareness pertaining to safe working environment, proliferating construction and maintenance activities and widespread adoption of aerial work platforms are also facilitating towards the market expansion.
Additionally, various companies operating in this business domain are offering spare parts as well as service packages such as operational and safety training of their respective equipment, thereby contributing towards global aerial work platform rental industry remuneration.
Based on product landscape, global aerial work platform rental industry share from personal portable lift segment is expected to grow with a CAGR of 3% through 2026, primarily driven by growing demand for secure and safe lifting solutions. In fact, personal portable lifts can be easily assembled within short periods of time. Apart from this, increasing utilization of the product for plant & facility maintenance are is fueling the segmental size.
Highlighting the application scope, the government segment is predicted to develop as a lucrative growth opportunity for global aerial work platform rental industry in the upcoming years. Inclination towards using advanced lifting solutions in order to conduct maintenance & repair activities are favoring the overall market outlook.
Considering the geographical landscape, Latin America is expected to account for a considerable share in worldwide aerial work platform rental market during the study period, owing to rapid expansion of construction industry.
The prominent companies operating in global aerial work platform rental industry are Ahern Rentals Inc., Aktio Corporation, Ashtead Group plc, Boels Rental, Fortrent, Haulotte Group, Hinkel Equipment Rental Associates, Lizzy Lift Inc., LTech, Manlift Group, United Rentals Inc., Sunstate Equipment Company Co. LLC, UniRent LLC, Riwal, Sunbelt Rentals, Pekkaniska Oy, Shanghai Hongxin Equipment Engineering Co. Ltd., Mtandt Rentals Limited, Nishio Rent All Co. Ltd., Ramirent Finland Oy, Nesco LLC, Nikken Corporation, Die Mateco GmbH, MacAllister Rentals, Loxam SAS, Kiloutou SAS, Herc Holdings Inc., H&E Equipment Services Inc., Cramo plc, AWP Rental Company, All Aerials LLC, AJ Networks Co. Ltd., and AFI Uplift Limited among others.