Global Aerial Work Platform Market Report and Forecast 2024-2032

Global Aerial Work Platform Market Outlook

The global aerial work platform market reached a value of about USD 13.34 billion in 2023. The market for aerial work platform is being driven by increasing public infrastructure development. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032.

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Increasing Public Infrastructure Development is Driving the Aerial Work Platform Industry Growth

The AWP market is expected to rise due to increased public infrastructure development and reconstruction activities. Governments and airport authorities are growing their investments in the development and building of new airports, which are important driving forces. Similarly, ongoing railway expansion programmes in Europe, such as the Rail Baltica greenfield railway infrastructure programme, would create opportunities for business growth. This trend has been catching the interest of building firms as a relatively cost-effective way to finance short-term projects. The demand for rental AWPs has led some of the industry's leading companies to consider capitalising on the trend.

Aerial Work Platform: Market Segmentation

Aerial work platforms (AWPs) are widely used for a variety of maintenance and building tasks, especially while working at a height. It's commonly used in the electricity and telecommunications sectors, as well as in the arboriculture industry. Advanced features such as connectivity and storage, as well as electrical outlets and compressed air plugs for power equipment, could be available on aerial work platforms. It can also be equipped with advanced equipment such as window glass frames and underbridge units for lifting operators to the appropriate height for any working area.

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Based on product type,  the market is divided into:

• Boom Lifts
• Scissor Lifts
• Vertical Mast Lifts
• Portable Personal Lifts
• Others

With regards to platform height, the market is segmented into:

• Below 10 Metres
• 10 to 20 Metres
• 20 to 25 Metres
• Above 25 Metres

On the basis of engine type, the market is categorized into:

• Electric
• Engine Powered

By end use, the market is segregated into:

• Construction
• Mining
• Transportation and Logistics
• Manufacturing
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand for Boom Lifts Aiding the Growth of Aerial Work Platform Industry

Boom lifts are expected to rise significantly during the forecast period, owing to their adaptability and speed of service.  Several characteristics of boom lifts, such as their ability to work in rugged terrain and achieve greater heights, are contributing to their increasing market share. To broaden their portfolio and gain a strategic advantage in the AWP industry, key players are focused on the design and production of new boom lifts. The increasing demand for boom lifts is predicted to significantly increase the growth rate of the aerial wok platform industry during the forecast period.

Key Industry Players in the Global Aerial Work Platform Market

The report gives a detailed analysis of the following key players in the global aerial work platform market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Terex Corporation
• Haulotte Group
• MEC Aerial Work Platforms
• Tadano Ltd. 
• Aichi Corporation
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report