Aerial Work Platforms Market, Top 3 trends transforming industry outlook through 2027
Aerial Work Platforms Market will experience a dynamic growth between 2021 and 2027 on account of rapid rise in construction activities across the globe.
Delaware, United States – July 23, 2021 /MarketersMedia/ —
The aerial work platform (AWP) market revenue is estimated to grow at a steady pace from 2021 to 2027 owing to global infrastructural development. Rapid rise in construction activities has led to an increase in the demand for AWPs throughout the world. There is a growing focus on the integration of advanced technologies such as sensors, automated control systems and IoT into aerial work platforms.
According to Global Market Insights Inc., reports that the AWP market demand is expected to cross USD 11 billion by 2027. Surge in the adoption of access platforms in construction activities along with the presence of leading industry players may incite AWP business growth. Electric aerial work platforms are witnessing considerable demand on account of their low emission and low noise.
While several aerial work platform manufacturers are creating new products and advanced technological solutions. For instance, in 2018, major industry player, Manitou Group introduced 12 utility machines including a range of aerial work platforms, skid steers, and track loaders, as part of their innovation efforts.
Mentioned below are some of the key trends driving aerial work platform market expansion:
1) Rising adoption of personal portable lifts
The personal portable lifts segment is projected to grow at a modest rate over the forecast period owing to increasing usage in maintenance and utility applications. These portable lifts are capable of operating on many different levels of elevation.
These machines are being deployed as substitutes to conventional ladders and scaffoldings given to their adjustable working heights. Personal portable lifts need less assembly time and provide easy transportation owing to their compact size and design.
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2) Increasing demand for 20-25 meters AWP equipment
AWP equipment having a platform height of 20 to 25 meters is likely to witness substantial demand as they offer enhanced safety and stability at elevated height. Industry players are focusing on improving the comfort of the operator and lessening workplace accidents at high levels on sites. There is a growing adoption of AWPs for ensuring worker and operator safety.
3) Implementation of various business strategies
Several companies operating in the aerial work platform market are utilizing business strategies such as partnerships and new product launches in order to increase their overall industry share. In 2020, Genie launched its E-Drive scissor lifts which have an increased runtime per charge 30%, along with 70% lesser hydraulic hoses and fittings, and up to 20% reduced lifetime battery costs.
Companies are also working on mergers and acquisitions to expand their business. Some of these firms are Aichi Corporation, Manitou Group, JLG Industries, Genie, Skyjack, Haulotte Group, Niftylift Limited, and Zoomlion Heavy Industry Science and Technology Co. Ltd.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Organization: Global Market Insights Inc.
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Website: https://www.gminsights.com/pressrelease/aerial-work-platform-awp-truck-market-size
Source: MarketersMedia
Release ID: 89038281
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