Pune, India, July 05, 2022 (GLOBE NEWSWIRE) -- The global aerial work platforms market size is anticipated to grow owing to the accelerated adoption of strict standards for safe work on these platforms as a result of the ongoing construction activity. Fortune Business Insights™ has presented this information in its upcoming report titled, “Aerial Work Platforms Market Size, Share & Industry Analysis, and Regional Forecast 2022-2029”.
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Key Players in the Aerial Work Platforms Market:
- Terex Corporation
- Zhejiang Dingli Machinery Co Ltd.
- JLG Industries
- Manlift
- Skyjack
- CalcantoWerbeagentur
- Manitou
- Haulotte Group SA
- Niftylift (UK) Limited
- Aichi Corporation
- Holland Lift International bv
- Tadano Limited
- Zoomlion Heavy Industry Science and Technology Co Ltd.
- Hunan Sinoboom Heavy Industry Co Ltd.
- Socage Srl
- Teupen
- Snorkel
- Dinolift OY
- PALFINGER AG
Segmentation:
On the basis of product type, the market is divided into boom lifts, vertical mast lifts, scissor lifts, and others. On the basis of power type, the market is fragmented into electric-powered, engine-powered, and hybrid. Geographically, the market is classified into North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
COVID-19 Impact:
COVID-19 is an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period. The COVID-19 pandemic has had a negative impact on the global aerial work platforms market. Construction operations have been halted, which has had a negative influence on platform sales.
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/aerial-work-platforms-market-105377
Report Coverage:
Key manufacturers employing strategies like safer aerial work platforms and ensuring worker’s safety, technological advancements, drivers and restraining factors, COVID-19 impact, potential opportunities, and collaborations are mentioned in detail in the report to offer a clear perspective about the market’s growth.
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Product Type, By Power Type, By Industry, By Region |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Terex Corporation, Zhejiang Dingli Machinery Co, Ltd., JLG Industries, Manlift, Skyjack, Calcanto Werbeagentura, Manitou, Haulotte Group SA, Niftylift (UK) Limited, Aichi Corporation, Holland Lift International bv, Tadano Limited, Zoomlion Heavy Industry Science and Technology Co. Ltd., Hunan Sinoboom Heavy Industry Co. Ltd., Socage Srl, Teupen, Snorkel, Dinolift OY, PALFINGER AG, and others. |
| Aerial Work Platforms Market Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Drivers & Restraints:
Constant Construction Operations Have Bolstered Market Growth
The constant construction operations have accelerated the adoption of severe laws related to safe work on these platforms, which is projected to boost aerial work platforms market growth. Falls collapses, electrocutions, and tip-overs, for example, are the most common injuries, according to the Occupational Safety and Health Administration (OSHA). Employers should guarantee that aerial platforms are used safely wherever possible. On the job site, safety gear such as rubber clothing, lanyards, and hard hats are quite important. However, the unavailability of unskilled operators may hamper the market.
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Regional Insights:
Increased Need For Aerial Work in the Region to Make North America the Dominant Region
North America has the largest aerial work platforms market share because of the increased need for aerial work platforms for providing maintenance and repair services across commercial and residential applications. During the projection period, Europe's market is expected to increase significantly. Countries such as the U.K., France, and Germany have qualified operators available to undertake airborne tasks, lowering labor costs.
Asia Pacific is anticipated to attain the highest CAGR in the global market. Countries such as China, Japan, India, Australia, and others place a strong emphasis on construction, resulting in increased demand for aerial work platforms. Additionally, the market expansion is expected to be fueled by rising awareness about worker safety.
The Middle East and Africa, as well as South America, are expected to rise steadily. It is primarily due to the drop in crude oil prices. Furthermore, the suspension of manufacturing activities in Brazil, Colombia, and other countries has hampered the expansion of the aerial work platform industry.
Competitive Landscape:
Key Manufacturers Focus on Providing Quality-Certified Equipment to Ensure Worker Safety
To ensure worker safety and protection, manufacturers place a high priority on quality-certified equipment. Furthermore, businesses are investing in the research and development of high-quality AWPs. EdmoLift AB, Haulotte Group, Galmon (Singapore), and Shandong Qiyun Group Co., Ltd., for example, provide tailored solutions to match the needs of the application industries. Market participants also use mergers and acquisitions to diversify their footprint and achieve more market share.
For instance, in November 2020, JLG Industries unveiled a new generation of lifts, the 'electric rough-terrain and rough-terrain scissor lifts,' which are 33-ft and 69-inch wide and 26-ft and 69-inch wide, respectively. These lifts are meant to increase productivity, provide intuitive data to improve work performance and provide increased mobility to reach closer to the work area.
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Industry Developments
January 2021: Terex Corporation launched ‘Genie® Z-45 Substation Utility Boom’, a mobile elevated work platform. It is specifically designed for power sub-station works where the insulated device is required, but traditional bucket trucks are prohibited.
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