Aerial Work Platforms Market expected to ascend at around 6% CAGR through 2031

A recently published report by Fact.MR reveals that the global aerial work platforms market is projected to grow at a CAGR of 6% during the forecast period (2021-2031), surpassing nearly US$ 16 Bn by 2031. Growth is spearheaded by the ever increasing scope of infrastructure projects across such countries as China, India, Brazil, and Mexico.

From 2016 to 2020, sales of aerial work platforms inclined at a CAGR of 4.2%. Prospects declined significantly in H1 2020, attributed to the recessionary wave ushered in by COVID-19 on the global construction industry. Double-digit contraction figures were projected for both residential and non-residential sectors. However, with the lifting of restrictions, sales have rebounded, expected to clock US$ 9.3 Bn by 2021-end.

Owing to multiple advantages of aerial work platforms such as greater safety and faster maintenance, aerial work platform rental service providers are launching their distribution centers in these regions, further supporting the growth of the aerial work platforms market. Furthermore, manufacturers are emphasizing on incorporating advanced sensor technologies to prevent construction site accidents, prompting further research & development.

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Aerial Work Platforms Market Scope:

A latest publication by Fact.MR on the global Aerial Work Platforms evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2021-2031.

Important indicators for the successful growth of the Aerial Work Platforms are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for Aerial Work Platforms supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Computer Aided Detection, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

In-depth Analysis on 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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Report benefits & key questions answered

• Post covid consumer spending on Aerial Work Platforms: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Aerial Work Platforms demand outlook: the market intelligence study reports highlights the factor propelling the demand for Computer Aided Detection. As per the study, the demand for Aerial Work Platforms will grow through 2031
• Aerial Work Platforms historical volume analysis Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
• Aerial Work Platforms consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Aerial Work Platforms Segmentations:

• 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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