Aerial Work Platform Market To Grow At About 9.2% CAGR During 2020–2026: Zion Market Research

As per the researchers at Zion Market Research, Global Aerial Work Platforms Market was valued at USD 9,500 Million in 2019 and is expected to reach over USD 17,605.7 Million by 2026, growing at a CAGR of around 9.2% during the forecast period from 2020 to 2026. The leading players within the global aerial work platform market include JLG Industries, Inc., Linamar Corporation, Terex Corporation, MEC Aerial Work Platforms, Haulotte Group, Tadano Ltd., V-tech Hydraulics, Mtandt Limited, Snorkel International, Inc., and Zhejiang Dingli Machinery Co, Ltd. The market contenders are also spreading their businesses to unexploited regional markets along with new product launches to obtain a prominent share in the global market. To cite, Zoomlion, in November 2018, had declared the rollout of its new aerial work intelligent solutions in 3 diverse groups: electro-hydraulic, electric, and lithium battery-powered platforms.

Growing Infrastructural Transformation Expected To Propel The Global Market Growth

The growth of the global aerial work platform is primarily driven by factors such as the increasing rural & urban infrastructure transformation projects to deal with the growing population need around the world. The need for such machinery utilized for maintenance & construction activities is swiftly rising from the general industrial and infrastructure sectors. As a result of the improved security and safety factors related to access platforms, these equipment are installed in large numbers by big and small construction firms, maintenance operators, and contractors. Furthermore, the intensifying government expenditure for infrastructural development comprising railways, roadways, electricity, and water, around the world are also expected to boost the growth of the global aerial work platform market during the forecast period.

By Platform Height, 10 To 20 Meters Segment Anticipated To Capture Highest Market Share

Based on platform height, the 10 to 20 meters segment is anticipated to account for the highest share in the global aerial work platforms market. This segmental expansion can be credited the rising need for maintenance, cleaning work, and glass-gazing at commercial locations. Numerous firms have built application along with height-specific machineries to cope with the snowballing customer need. These platforms can be transported easily and need less time for installation, offering time-saving benefits to operators. As a result of the growing need in several applications, firms are designing environment-friendly and safe platforms and lifts that provide improved steadiness at heightened operations, thus propelling the market growth.

Asia Pacific Projected To Lead The Global Market During The Forecast Period

Geographically, the global aerial work platform is expected to be dominated by Asia Pacific during the forecast period on account of the rising cognizance of price-conscious consumers along with investments by government in Malaysia, India, and numerous other Asian nations. Furthermore, these nations are also observing numerous construction activities in several industry verticals that need well-organized platforms for carrying out high-elevation work actions, thereby fueling the market growth in this region.

Browse the full “Aerial Work Platforms Market - by Product Type (Vertical Mass Lifts, Boom Lifts, Scissor Lifts, Personal Portable Lifts), by Type (Electric, Engine Powered Types), by Platform Height (>10 Meters, 10-20 Meters, 20-25 Meters, <25 Meters), by Application (Rental, Transportation & Logistics, Construction & Mining, Government, Utility), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/aerial-work-platform-market

The global aerial work platform market is segmented as follows:

By Product

• Boom Lifts
• Scissor Lifts
• Vertical Mass Lifts
• Personal Portable Lifts

By Type

• Electric
• Engine Powered

By Platform Height

• Below 10 Meters
• 10 to 20 Meters
• 20 to 25 Meters
• Above 25 Meters

By Application

• Rental
• Construction & Mining
• Government
• Transportation & Logistics
• Utility

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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