Aerial Work Platform (AWP) Market Analysis by Price trends, Top Manufacturers, Applications, Share, Forecast
Category: #business  By Rahul Varpe  Date: 2022-11-24
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Aerial Work Platform (AWP) Market Analysis by Price trends, Top Manufacturers, Applications, Share, Forecast

The aerial work platform (AWP) market is primed to showcase robust growth through 2028 owing to high product adoption across the construction industry. In addition, notable technological advancements in the sector are likely to further fuel industry expansion over the forecast timeframe.

Recently, companies have been adopting effective strategies to enhance their market standing, thereby propelling business growth in key regions globally. For instance, in March 2022, Manitou Group, a heavy equipment specialist, opened its new AWP facility in Cande, France. The Rough Terrain aerial lift plant is intended to significantly increase the boom lift production capacity of Manitou, supporting the firm’s long-term development goals.

For extensive analysis, the aerial work platform (AWP) market has been segregated on the basis of application, product, platform, type, and region. In terms of product, the market has been further divided into personal portable lifts, boom lift, vertical mass lift, and scissor lift. The personal portable lifts sub-segment is projected to grow at a robust pace through the analysis timeline. Rising popularity of personal portable lifts in in-house maintenance and temporary construction applications for performing low-height operations is likely to bolster segmental expansion in the coming time period.

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From the type point of view, the AWP market has been categorized into engine powered and electric. The electric sub-segment is speculated to progress at a high CAGR over the assessment period to reach a notable valuation by 2028. This growth is attributed to several product benefits, including low carbon emissions and improved functionality.

With respect to platform, the aerial work platform (AWP) market has been bifurcated into below 10 meters, 10 – 20 meters, 20 – 25 meters, and above 25 meters. The AWP industry share from the 10 – 20 meters sub-segment is foreseen to observe considerable development through the forecast timeline on account of extensive product application across maintenance and general construction operations in office works, electrical installation, and small buildings.

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From the application perspective, the aerial work platform (AWP) market has been classified into transport & logistics, rental, government, and construction & mining. The transport & logistics sub-segment is slated to gain significant growth momentum over the study timeline owing to widespread adoption of aerials lifts in warehouses for material handling. Aerial work platforms are widely used in robust environments, such as logistics and transport, due to their strong and sturdy structure, which is anticipated to foster segmental outlook.

On the regional front, the Middle East & Africa aerial work platform market is poised to exhibit a solid growth trajectory through the estimated timeline. Growing focus on the construction of smart cities in the MEA region is set to facilitate AWP adoption in the forthcoming years.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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