Aerial Work Platforms Market is Likely to be Valued at US$ 9.3 Bn by 2032 End

 250 Pages Aerial Work Platforms Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.

The report offers actionable and valuable market insights of Aerial Work Platforms. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Aerial Work Platforms Market across various industries and regions.

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According to Fact.MR’s recent study on the global aerial work platforms market, the market is gaining traction steadily, expected to ascend at around 6% CAGR through 2031. As per the report, the market is likely to be valued at US$ 9.3 Bn by 2021. Preference for boom lifts will remain dominant, with a predicted absolute opportunity worth US$ 2.5 Bn during the forecast period. 

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Aerial Work Platforms market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Aerial Work Platforms

This newly published and insightful report sheds light on Market Insights of Aerial Work Platforms, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Aerial Work Platforms Market.

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Key Segments Covered

  • Product

    • Scissor Lifts
    • Boom Lifts
    • Other AWPs

  • End Use Industries

    • AWP Rental Service Providers
    • End Use Industries
      • AWPs for Construction
      • AWPs for Entertainment
      • AWPs for Commercial Uses
      • AWPs for Manufacturing
      • AWPs for Others (Public Administration, Mining, Agriculture, etc.)

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Key Takeaways from the Market Study

  • Boom lifts expected to yield an absolute opportunity worth US$ 2.5 Bn, registering a value CAGR of 4%
  • Construction segment to account for 37% share of boom lifts until 2031
  • North America to emerge as the dominant market, capturing 40% revenue share
  • Nearly 2/5th of global demand for aerial work platforms to be stimulated by Europe
  • Asia to be an opportunistic market, accounting for a third of the global market revenue

“As governments of several countries are re-evaluating safety standards, adoption of aerial work platforms is on the rise, with key manufacturers emphasizing on incorporating smart sensors to reduce construction fatalities”, says the Fact.MR analyst.

Competitive Landscape

The global aerial work platforms market is highly consolidated with 7-8 players accumulating 65-70% of the share. Manufacturers are focusing on product innovation in order to increase their reach and maintain their position in the market.

  • In September 2021, JLG Industries, Inc., announced the launch of the JLG® 670SJ self-leveling boom lift. Equipped with JLG’s exclusive and patented self-leveling technology, the 670SJ is engineered to automatically adapt to terrain on slopes up to 10 degrees in any direction, while driving with full functionality at a class-leading 67-ft platform height.
  • In March 2021, MEC Aerial Work Platforms introduced its newest product line of vertical mast lifts; the MEC Mast Electric (MME) Series. The MME Series leads with direct electric drive for high efficiency, longer duty cycles, and higher product residual value. The MME Series offers two heights to choose from the MME20 with a platform height of 20 feet and the MME25 with the non-rotating vertical mast lift platform height of 25 feet.

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Key Question answered in the survey of Aerial Work Platforms market report:

  • Sales and Demand of Aerial Work Platforms
  • Growth of Aerial Work Platforms Market
  • Market Analysis of Aerial Work Platforms
  • Market Insights of Aerial Work Platforms
  • Key Drivers Impacting the Aerial Work Platforms market
  • Which are the Key drivers impacted by Aerial Work Platforms market
  • Restraints Shaping Market Growth
  • Market Survey of Aerial Work Platforms

More Valuable Insights on Aerial Work Platforms Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Aerial Work Platforms, Sales and Demand of Aerial Work Platforms, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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