Aerial Work Platform Market Size, Share & Trends Analysis Report By Product (Boom, Scissor), By Propulsion Type (ICE, Electric), By Application (Construction, Utilities), By Lifting Height, By Region And Segment Forecasts, 2023 - 2030

Aerial Work Platform Market Size, Share & Trends Analysis Report By Product (Boom, Scissor), By Propulsion Type (ICE, Electric), By Application (Construction, Utilities), By Lifting Height, By Region And Segment Forecasts, 2023 - 2030

Aerial Work Platform Market Growth & Trends

The global aerial work platform market size is expected to reach USD 33.78 billion by 2030, registering a CAGR of 8.9% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. The growth of the construction sector, especially in developing countries, has significantly contributed to the expansion of the market. Rapid urbanization, infrastructure development initiatives, and the need to maintain & repair existing structures have created a strong demand for reliable and safe aerial lifts. Aerial work platforms are primarily used in construction and maintenance activities across diverse industries, enabling tasks, such as efficient product placement, storage of goods in warehouses, and various other applications.

The market is influenced by economic conditions and geopolitical factors. Economic downturns, recessions, and fluctuations in currency exchange rates can have a direct impact on construction and infrastructure development projects, resulting in a decrease in demand for AWPs. Moreover, geopolitical tensions, trade disputes, and regulatory uncertainties can disrupt global supply chains, making it difficult for manufacturers to source raw materials and distribute their products efficiently. These factors pose challenges to the market and can affect its overall performance. The functionality and efficiency of AWPs have been significantly enhanced through technological advancements.

Manufacturers are integrating innovative features, such as telescopic booms, articulating arms, self-leveling capabilities, and advanced control systems. These developments have expanded the range of applications for AWPs and improved their overall performance, making them more appealing to end-users. For example, the rise of automated warehouses in developed countries has created a need for numerous single-scissor lifts, double-scissor lifts, and other lifting tables for product and pallet placement. Substantial funding and investments from various e-commerce and logistics companies worldwide in constructing warehouse buildings are expected to contribute significantly to the overall growth of the market.

Aerial Work Platform Market Report Highlights

• The boom lifts segment is expected to register the highest CAGR over the forecast period. The growing emphasis on preventive maintenance and adherence to safety regulations is fueling the demand for boom lifts in the industrial sector
• Electric AWP is expected to register the highest CAGR of nearly 10.5% over the forecast period. The main application of electric AWPs is indoors due to their superior maneuverability with a smaller turning radius
• The less than 20 ft segment is expected to register the highest CAGR of nearly 9.5% over the forecast period. AWPs with lower lifting heights are versatile machines that can be employed in a wide range of applications
• The construction sector is expected to register the highest CAGR of approximately 9.5% over the forecast period. Construction sites involve accessing higher heights and majorly use rough terrain aerial platforms
• These sites are prone to accidents related to workers operating at high heights. AWPs offer increased safety and flexibility to workers and operators as compared to conventional solutions
• Asia Pacific is expected to register the highest CAGR over the forecast period. Rapid development in the logistics, retail, and warehousing sectors in terms of automation is projected to drive the AWP demand in the region

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