Boom Lifts are fastest growing segment fueling the growth of Aerial work platform market

 

Aerial work platform (AWP) Market

The global Aerial work platform (AWP) Market is estimated to be valued at US$ 40.95 Mn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Aerial work platforms are equipped with booms, buckets, scissor mechanisms or other means to provide lift capability to staff, tools and equipment so as to enable access to locations not reachable by conventional means. They are extensively used in construction, telecommunication, utility and other industries for tasks like maintenance, repair and installation activities. Their advantages include improved safety, productivity and reduced costs compared to conventional alternatives like ladders or scaffolding.

 

Market key trends:

One of the key trends driving growth in the aerial work platform market is the rising demand for boom lifts. Boom lifts are versatile aerial work platforms that have telescoping booms fitted with platforms for work at heights. They offer 360 degree working area and capacity to access hard to reach places. Their increased adoption across industries is a significant factor boosting the market growth. Further, new product innovations in boom lifts focused on enhanced safety, ergonomics and operability are also fueling their popularity.

Segment Analysis

The global aerial work platform (AWP) market is segmented into boom lifts, scissor lifts, vertical mast lifts, and personnel portable lifts on the basis of product type. Among these, the boom lifts segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Boom lifts offer superior reach and lift height as compared to other types, making them suitable for various applications involving working at elevated heights. Their lifting range of over 30 feet makes them ideal for electrical line work, construction, and repair & maintenance activities.

 

Key Takeaways

The Global Aerial work platform (AWP) Market Share is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing investments in infrastructure development worldwide.

 

Regional analysis

Asia Pacific is expected to be the fastest growing region in the aerial work platform (AWP) market owing to rapid industrialization and infrastructure development activities in major economies like China and India. North America currently dominates the market due to high demand from application industries like construction, electrical line works and telecom in the region.

 

Key players

Key players operating in the aerial work platform (AWP) market are Toyota Industries Corporation, CTE, Dinolift, Terex Corporation, Haulotte Group, Holland Lift International bv, Hunan Sinoboom Heavy Industry Co. Ltd., IMER International SpA, J C Bamford Excavators Ltd., Oshkosh Corporation, Linamar, Manitou Group, MEC, Niftylift (UK) Limited, PALFINGER AG, Snorkel, SOCAGE, Tadano Ltd., TEUPEN, Zhejiang Dingli Machinery Co, Ltd., and Zoomlion Heavy Industry Science & Technology Co., Ltd.

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https://www.newsstatix.com/aerial-work-platform-awp-market-share-size-forecast-outlook-2023-2030/

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