The aerial work platforms market was valued at US$ 16,210.00 million in 2022 and is projected to reach US$ 28,951.38 million by 2030; it is expected to register a CAGR of 7.52% during 2022-2030.
In the competitive business landscape, enterprises that prioritize safety not only attract and retain skilled workers but also enhance their overall corporate image. A commitment to safety aligns with the expectations of clients, partners, and investors, fostering trust and reinforcing the reputation of a business as a responsible and reliable entity. The growing emphasis on safety regulations and the compelling need for safer working environments have positioned AWPs as indispensable assets for businesses. Thus, the increased focus on workplace safety drives the aerial work platforms market size.
The demand for aerial work platforms (AWPs) in Asia Pacific is diverse and spans various industries. The construction sector is a significant contributor, utilizing AWPs for construction, maintenance, and infrastructure projects in rapidly developing economies. The construction industry in the developing countries of Asia Pacific has experienced a exponential growth over the years due to the continuous infrastructural development in the developing countries. This has created an enormous opportunity for established manufacturers to expand their foothold in the region. According to the Asian Development Bank, over US$1,500 billion must be invested annually in infrastructure projects across Asia Pacific by 2030 if the region is to sustain economic growth, fight poverty, and mitigate climate risk. Thus, the rise in investment toward infrastructure development in the region is expected to fuel the aerial work platforms market growth in the coming years.
Furthermore, promoting free trade and investment toward infrastructure development in the oil & gas and metal mining industries by economies in Asia Pacific resulted in the rise in the importance of minerals and metals for economic growth. Hence, rise in mining activities in Asia Pacific is expected to boost the growth for aerial work platforms market during the forecast period.
FLSmidth; MEKA; Metso Outotec Corporation; McLanahan; Sandvik AB; TAKRAF GmbH; Terex Corporation; Thyssenkrupp Industrial Solutions AG; and Williams Patent Crusher and Pulverizer Co., Inc., are among the key aerial work platforms market players.
The overall aerial work platforms market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the aerial work platforms market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the aerial work platforms market.
Reasons to Buy
Rise in Ongoing Maintenance Requirements is Driving the Aerial Work Platforms Market Growth
Utilities, encompassing power lines, communication infrastructure, and pipelines, require regular inspections and repairs. Aerial work platforms, equipped with advanced features such as telescopic arms and articulating booms, enable maintenance crews to navigate complex terrain and access utility structures at varying heights. AWP enhances the efficiency of maintenance operations and contributes to minimizing downtime in critical utility services. In industrial facilities, where machinery and equipment are often installed at elevated levels, aerial work platforms become indispensable for routine maintenance, troubleshooting, and equipment upgrades. The ability of boom lifts to provide both vertical and horizontal reach is particularly advantageous in these settings, allowing maintenance teams to access machinery located at different positions within the facility. Thus, the ongoing maintenance requirements for buildings, utilities, and industrial facilities fuel the aerial work platforms market growth.In the competitive business landscape, enterprises that prioritize safety not only attract and retain skilled workers but also enhance their overall corporate image. A commitment to safety aligns with the expectations of clients, partners, and investors, fostering trust and reinforcing the reputation of a business as a responsible and reliable entity. The growing emphasis on safety regulations and the compelling need for safer working environments have positioned AWPs as indispensable assets for businesses. Thus, the increased focus on workplace safety drives the aerial work platforms market size.
The demand for aerial work platforms (AWPs) in Asia Pacific is diverse and spans various industries. The construction sector is a significant contributor, utilizing AWPs for construction, maintenance, and infrastructure projects in rapidly developing economies. The construction industry in the developing countries of Asia Pacific has experienced a exponential growth over the years due to the continuous infrastructural development in the developing countries. This has created an enormous opportunity for established manufacturers to expand their foothold in the region. According to the Asian Development Bank, over US$1,500 billion must be invested annually in infrastructure projects across Asia Pacific by 2030 if the region is to sustain economic growth, fight poverty, and mitigate climate risk. Thus, the rise in investment toward infrastructure development in the region is expected to fuel the aerial work platforms market growth in the coming years.
Furthermore, promoting free trade and investment toward infrastructure development in the oil & gas and metal mining industries by economies in Asia Pacific resulted in the rise in the importance of minerals and metals for economic growth. Hence, rise in mining activities in Asia Pacific is expected to boost the growth for aerial work platforms market during the forecast period.
FLSmidth; MEKA; Metso Outotec Corporation; McLanahan; Sandvik AB; TAKRAF GmbH; Terex Corporation; Thyssenkrupp Industrial Solutions AG; and Williams Patent Crusher and Pulverizer Co., Inc., are among the key aerial work platforms market players.
The overall aerial work platforms market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the aerial work platforms market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the aerial work platforms market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the aerial work platform market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global aerial work platform market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Aerial Work Platforms Market Landscape
5. Aerial Work Platforms Market - Key Market Dynamics
6. Aerial Work Platforms Market - Global Market Analysis
7. Aerial Work Platforms Market Analysis - by Type
8. Aerial Work Platforms Market Analysis - by End-user
9. Aerial Work Platforms Market - Geographical Analysis
10. Aerial Work Platforms Market - Impact of COVID-19 Pandemic
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
Companies Mentioned
- Terex Corporation
- IMER International SpA
- Fabrication Authorities International Inc
- Hinowa SpA, Tadano LTD,
- Zoomlion Heavy Industry Na Inc
- Sany Palfinger SPV Equipment Co Ltd
- Jinan Nostec Equipment Co Ltd,
- JLG Industries Inc
- Xuzhou Construction Machinery Group Co Ltd
- Hinowa SpA
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 153 |
| Published | January 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 16.21 Billion |
| Forecasted Market Value ( USD | $ 28.95 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
