June 03, 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, worldwide AWP (aerial work platforms) market to is set to record a remunerative growth rate through 2026.
Inclination towards using aerial work platforms in utility, transportation and construction sectors is a major factor driving the market growth. These platforms facilitate in carrying out several operations at heighted locations. They enable maintenance technicians and engineers to efficiently conduct numerous tasks across institutes and other commercial facilities.
As per the product type, vertical mass lifts segment is predicted to grow with a CAGR of 3% during 2020-2026, owing to widespread use of personal lifts for interior repair and maintenance activities.
By type, engine powered aerial work platforms segment accounted for 30% market share in 2018 and is estimated to record continuous growth in the subsequent years. Shifting preference towards high performance lifting technologies in various industry verticals is fueling the segmental share.
According to the report, engine powered scissor lifts provide exceptional gradeability and are ideal to be deployed across extreme terrains. These are utilized for applications with large workspace and heavy load capacity.
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Speaking of platform height, 10-20 meters segment is slated to witness considerable growth in the subsequent years.
Global AWP market share from transportation & logistics application is reckoned to expand with a CAGR of 8% through 2026, primarily due to rising deployment of aerial work platforms for heavy lifting activities in warehouses.
Considering the geographical landscape, aerial work platforms market in Europe is anticipated to accumulate appreciable revenues by the year 2024. Escalating investments towards smart city development projects is stimulating the industry outlook.
Zoomlion Heavy Industry Science & Technology Co. Ltd., Aichi Corp., Zhejiang Dingli Machinery Co. Ltd., CTE, Teupen, Dinolift OY, Terex Corp. (Genie), Haulotte Group, Tadano Ltd., Holland Lift International BV, Socage Srl, Hunan Runshare Heavy Industry Co. Ltd., Snorkel, Hunan SINOBOOM Heavy Industry Co. Ltd., Skyjack, JLG Industries, Niftylift Ltd. and Manitou Group are the major participants in global aerial work platforms industry.