Global Aerial Work Platforms (AWP) Market Is Estimated to Account for US$ 14,200.9 Mn by End of 2027, Says Coherent Market Insights (CMI)
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SEATTLE--(BUSINESS WIRE)--Aerial work platforms, also referred to as aerial lifts, cherry pickers, boom lifts or mobile cherry picker/boom crane, is a mechanical device designed to give access to unoccupied or inaccessible areas, usually in height above ground. It can be used to lift and place objects on the ground, without the need for constructing stairs. These devices are used widely by construction companies and other civil engineering services to carry out tasks such as placing buildings on top of old buildings, making permanent structures, etc.

The global aerial work platforms (AWP) market is estimated to account for 14,200.9 Mn in terms of value and 134,589.3 Units in terms of volume by the end of 2027

Market Drivers:

1. Continuous R&D activities to develop technologically advanced access platforms is expected to drive growth of the aerial work platforms (AWP) market during the forecast period

Major market players are focused on research and development activities, in order to innovate novel products and expand their market footprint. For instance, in October 2020, Manitou Asia, a subsidiary of Manitou Group, introduced 280 TJ-X, an aerial work platform with the highest working height.

2. Rapid urbanization in South Africa and India is expected to propel the global aerial work platforms (AWP) market growth over the forecast period

Emerging economies such as South Africa and India are witnessing rapid urbanization, which has necessitated the construction of new public infrastructure. As a result of this, the demand for aerial work platforms has increased massively worldwide.

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Market Opportunities:

1. Increasing safety concerns regarding construction workers and laborers can provide lucrative growth opportunities in the global aerial work platforms (AWP) market
2. Replacement of manual labor with machinery can offer major business opportunities in the global aerial work platforms (AWP) market

Market Trends:

1. Latin America Trend

Self-propelled boom lifts and scissor lifts are specially designed to cope with severe conditions in the construction industry, which also include salt abrasiveness and oxidation and also rough terrain applications. These factors are increasing the adoption of these lifts in Latin America, a region characterized by such working and weather conditions. The Genie-3800 boom lift featuring high steel tubing on the platform and impact-resistant cushion bumpers and Genie-GS 4069RT, a full drive-height scissor lift that provides better traction on slopes, are two major products introduced in the region.

2. Eastern Europe Trends

The AWP market in Eastern Europe is gaining traction, due to growing safety regulations and labor laws. Conventionally, procurement of used equipment has been more popular in the region, however, the purchase of new equipment is seen to be on the rise over the last couple of years. In order to capitalize on this opportunity, global manufacturers are penetrating the Eastern Europe market through distributors, which are well-versed with local market conditions of Eastern Europe.

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Competitive Section:

Major companies involved in the global aerial work platforms (AWP) market are Aichi Corporation, Zoomlion Heavy Industry Science, CTE, Zhejiang Dingli Machinery Co, Ltd., Dinolift OY, Haulotte Group, Teupen, Holland Lift International BV, Tadano Limited, Hunan Sinoboom Heavy Industry Co. Ltd., Hunan Runshare Heavy Industry Company, Ltd., JLG Industries, and Skyjack.

Market segmentation:

1. By Type
   1. Boom Lifts
      1. Telescopic
      2. Articulating
      3. Trailer Mounted
      4. Self-Propelled
   2. Scissor Lifts
   3. Vertical Mass Lifts
      1. Double Mast AWP
      2. Single Mast AWP
   4. Personal Portable Lifts
2. By Fuel Type
   1. Electric
      1. Boom Lifts
      2. Scissor Lifts
      3. Vertical Mass Lifts
      4. Personal Portable Lifts
   2. Engine Powered
      1. Boom Lifts
      2. Scissor Lifts
      3. Vertical Mass Lifts
      4. Personal Portable Lifts
3. By Platform Height
   1. Below 10 Meters
   2. 10 to 20 Meters
   3. 20 to 25 Meters
   4. Above 25 Meters
4. By Application
   1. Construction & Mining
   2. Government
   3. Transportation & Logistics
   4. Utility
   5. Others
5. By Region
   1. North America
   2. Latin America
   3. Asia Pacific
   4. Europe
   5. Middle East & Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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