April 21, 2020
According to the research report titled ‘(AWP) Aerial Work Platforms Market Size By Product, By Type, By Platform Height, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, the AWP (aerial work platforms) market to is set to record a remunerative growth rate through 2026.
Increasing utilization of aerial work platforms in utility, transportation and construction sector is a prime factor fueling the market growth. These platforms help in carrying out numerous operations at heights. They allow maintenance technicians and engineers to effectively conduct various tasks in institutes and commercial facilities.
Based on the product landscape, vertical mass lifts segment is presumed to expand with a CAGR of 3% during 2020-2026, primarily due to rising adoption of personal lifts for indoor repair and maintenance activities.
As per type, engine powered aerial work platforms held 30% market share in 2018 and is expected to register continuous growth in the forthcoming years. Growing inclination towards high performance lifting solutions across various industry verticals is driving the segmental growth.
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The reports states that the engine powered scissor lifts offer exceptional gradeability and are ideal to maneuver through extreme terrains, hence are used for applications with heavy load capacity and huge workspace.
In terms of platform height, 10-20 meters AWP market segment is poised to witness lucrative growth in the subsequent years.
Elaborating on the application spectrum, transportation & logistics segment is expected to grow with a CAGR of 8% between 2020 and 2026, owing to increasing deployment of platforms to lift heavy loads in warehouses.
As per the regional analysis, aerial work platform industry in Europe is poised to acquire commendable returns by the year 2024. Heavy investments towards development of smart city projects is stimulating the industry outlook.
Zoomlion Heavy Industry Science & Technology Co. Ltd., Zhejiang Dingli Machinery Co. Ltd., Teupen, Terex Corp. (Genie), Tadano Ltd., Socage Srl, Snorkel, Skyjack, Niftylift Ltd., Manitou Group, JLG Industries, Hunan Sinoboom Heavy Industry Co. Ltd., Hunan Runshare Heavy Industry Co. Ltd., Holland Lift International BV, Haulotte Group, Dinolift OY, CTE and Aichi Corp. are the major contenders in the aerial work platform industry.
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