Aerial Work Platforms Market Projections 2026 : Skyjack, Snorkel, JLG Industries, Aichi Corporation, CTE, Tadano Limited, Haulotte Group
According to the latest research study by Global Market Insights, Inc, the global aerial work platforms market is expected to record 9% CAGR during the forecast period 2020-2026
Selbyville, DE -- (SBWire) -- 05/15/2020 --The aerial work platforms (AWP) is expected to amass considerable growth on account of immense product application in the telecom sector. Telecom companies usually use AWPs for installing telephone wire, conducting transformer maintenance activities, and repairing electrical lines. Rapid expansion in the construction sector could massively aid AWP business outlook over the forthcoming years.
In general, aerial work platform finds key importance in diverse industry verticals, with considerable application in construction work, painting activities and building maintenance. Considering the product's significance, According to the latest research, the aerial work platforms market is estimated to surpass $18 billion mark by 2026.
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In terms of products, the industry is mainly bifurcated into scissor lifts, boom lifts, personal portable lifts, and vertical mass lifts. Out of these, vertical mass lifts are expected to gain immense traction in the future owing to mounting demand from numerous industry avenues like public buildings, airports, and retail centers mainly for conducting maintenance activities. These lifts are ideal for maintenance applications like duct repair, managing assembly lines, and shelving, as they are relatively compact in size and are highly portable.
Top Industry Players –
- Aichi Corporation,
- Dinolift OY,
- Haulotte Group,
- Holland Lift International,
- Hunan Runshare Heavy Industry Company, Ltd.,
- Hunan Sinoboom Heavy Industry Co. Ltd.,
- JLG Industries,
- Manitou Group,
- Niftylift Limited,
- Skyjack, Snorkel,
- Socage Srl,
- Tadano Limited,
- Genie, Teupen,
- Zhejiang Dingli Machinery Co, Ltd.,
- Zoomlion Heavy Industry Science and Technology Co. Ltd.
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Based on application, the AWP market is categorized into construction & mining, rental, transportation & logistics, government, and utility. Over the years, aerial lifts have gained significant demand across the construction sector due to building of new power plants and infrastructures. Increasing number of powerplant management projects could play a crucial role in boosting the adoption of aerial platform solutions. Additionally, rising number of federal initiatives geared towards the development of nuclear powerplants might massively aid product demand.
Construction equipment rental services are witnessing massive traction in APAC countries like South Korea, China, India, and Japan owing to their enhanced flexibility and low cost. While North America is expected to be the ideal region for local AWP manufacturers. The region is currently witnessing a proliferating rise in residential and commercial construction projects.
Numerous federal authorities across the region are making heavy investments in urban residential construction projects. Additionally, emerging IT & telecom industry in North America could churn out lucrative opportunities for AWP service providers.
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Prominent players in the AWP market are constantly working on developing new product lineups and expanding sales network to improve their geographical presence. Taking February 2019 for instance, JLG Industries, Inc. launched a mobile control app for its R Series Scissor Line. Evidently, this software would allow operators to steer, load and drive scissor lifts through the mobile application platform.
Apart from JLG Industries, the AWP market is currently led by companies like Terex Corporation (Genie), Manitou Group, Zhejiang Dingli, Zoomlion Heavy Industry Science & Tech and Aichi Corporation.
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