What is the Historic and Current Scenario of the Aerial Work Platform Market?
The aerial work platform market has seen considerable growth due to a variety of factors.
•The market size for aerial work platforms has seen significant expansion in recent years. The market is projected to rise from $13.23 billion in 2024 to $14.06 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%.
Reasons behind this substantial increase during the historical period include developments in greenhouse farming, proactive measures against pest infection, crop safeguarding, crop yield improvement, and protection against UV radiation.
What are the Forecasted Growth and Key Factors of the Aerial Work Platform Market?
The aerial work platform market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for aerial work platforms is predicted to experience significant growth over the next several years, increasing to "$18.97 billion in 2029 with a compound annual growth rate (CAGR) of 7.8%.
Factors contributing to this projected growth during the forecast period include an expanding population and concerns over food security, fluctuations in weather patterns, the growing adoption of precision agriculture techniques, an uptick in vertical farming, and initiatives aimed at promoting sustainable agriculture. The period is also expected to see key trends such as advancements in net materials, the use of anti-hail and frost protection nets, the integration of netting in organic farming as well as shade and climate control, and partnerships forming between farmers and tech providers.
What Are the Critical Driver Fuelling the Aerial Work Platform Market's Growth?
The expansion of the aerial work platform market is anticipated to be fueled by an increase in both residential and commercial building activities. These two terms refer to distinct types of construction projects, each with their unique purposes: residential construction pertains to the building of homes, apartments, and other structures used mostly for residence, while commercial construction involves the creation of buildings used for commercial or business operations. Aerial work platforms (AWPs), which offer temporary access to high locations, are heavily utilized in both these construction categories, aiding workers in executing tasks at height such as roofing, painting, window cleaning, electrical tasks, and construction in a safer and easier manner. This has the effect of augmenting the aerial work platform market. Take, for instance, records from the Office for National Statistics, a UK government agency, in November 2023. The data indicated a surge in the value of new construction work at current prices in Great Britain by 15.8% to an unprecedented $173,100 million (£132,989 million) in 2022. This was spurred by growth in private sector work totaling $18,343 million (£14,093 million) and public sector work amounting to $5294 million (£4,068 million). Hence, the increase in residential and commercial building activities is propelling the aerial work platform market's progression.
How Is the Aerial Work Platform Market segmented?
The aerial work platform market covered in this report is segmented –
1) By Product Type: Scissor Lifts, Boom Lifts, Telehandler, Other Product Types
2) By Fuel Type: Fuel-Based, Electric, Hybrid
3) By Lifting Height: 20 Feet, 20 To 50 Feet, 50 To 70 Feet, Above 70 Feet
4) By End-User Industry: Construction, Utilities, Logistics And Transportation, Other End-User Industries
Subsegments:
1) By Scissor Lifts: Electric Scissor Lifts, Diesel Scissor Lifts, Rough Terrain Scissor Lifts
2) By Boom Lifts: Telescopic Boom Lifts, Articulating Boom Lifts, Hybrid Boom Lifts
3) By Telehandler: Compact Telehandlers, Standard Telehandlers, Heavy Duty Telehandlers
4) By Other Product Types: Personal Lift, Vehicle-Mounted Lift, Mast Lifts
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What New Trends Are Influencing the Aerial Work Platform Market?
Key players in the aerial work platform market are focusing their efforts on pioneering novel products such as scissor lifts and user-friendly control panels. Scissor lifts, a type of aerial work platform, employ a scissor (crisscrossing) lifting mechanism, perfect for performing tasks at different heights, such as maintenance, construction, or installation, in a stable working area. An intuitive control panel simplifies the machinery usage with its clear indicators and easy-to-understand layout, thus enhancing user experience. For instance, in March 2024, Manitou Group, a France-based aerial work platform firm, introduced a new scissor lift series created to boost safety and efficiency in various lifting operations. The new series boasts models like the SE 0808 and SE 1008, offering 8-meter and 10-meter working heights respectively, with plans to unveil a 12-meter model (SE 1212) in the future. These high-quality lifts, fitted with two high-efficiency AC motors and a lightweight design, guarantee increased autonomy and a lower total cost of ownership. Designed to serve both outdoor and indoor needs, these lifts meet the diverse requirements pertaining to industrial maintenance and finishing duties.
Who Are the Key Players in the Aerial Work Platform Market?
Major companies operating in the aerial work platform market include:
• Terex Corporation
• MEC Aerial Work Platforms
• JLG Industries Inc.
• Galmon (S) Pte Ltd.
• Aichi Corporation
• Haulotte Group SA
• EdmoLift AB
• Manitou Group
• Linamar Corporation
• Advance Lifts Inc.
• Altec Industries Inc.
• Oshkosh Corporation
• Skyjack Inc.
• Tadano Limited
• Liebherr-International AG
• Palfinger AG
• Ponss Group
• Hunan Sinoboom Intelligent Equipment Co. Ltd.
• LGMG Holding S.p.A.
• Zhejiang Dingli Machinery Co. Ltd.
• XCMG Group
• Ruthmann GmbH
• Teupen Maschinenbau GmbH
• Time Benelux NV
• Econo Lift Ltd.
• Bishamon Industries Corp.
• Snorkel International Ltd.
• Genie
• Holland Lift
• Dinolift OY
What Is The Most Dominant Region In The Aerial Work Platform Market?
North America was the largest region in the aerial work platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global aerial work platform market during the forecast period. The regions covered in the aerial work platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
