Aerial Work Platform (AWP) Truck Market: Global Industrial Analysis and Forecast (2023-2029)

Aerial Work Platform (AWP) Truck Market is expected to reach US$ 14.75 Bn. by 2029, at a CAGR of 8.54% during the forecast period.
Aerial Work Platform (AWP) Truck Market Introduction
An aerial work platform, also known as an elevating work platform, is a device that allows operators or equipment to gain temporary access to locations that are otherwise inaccessible. A single person may set up and operate an aerial work platform (AWP) vehicle, which is designed to raise a limited amount of weight (typically less than a ton). AWP trucks are different from permanent access equipment (PAE) like elevators and cranes in that they are utilized for a variety of reasons such as maintenance and construction work, as well as by firemen for emergency accessTo know about the Research Methodology :- Request Free Sample Report
Aerial Work Platform (AWP) Truck Market Dynamics
Due to increased investment in building and infrastructure projects in the Asia Pacific, the worldwide aerial work platform (AWP) truck market is expected to develop significantly over the forecast period (2023–2029). Government and business sector investments are propelling the market forward. The Indian government is investing in public transportation infrastructures such as airports, railway stations, metro stations, and other forms of public transportation.

According to the India Brand Equity Foundation (IBEF), the government budgeted US$ 24.27 billion for transportation infrastructure development in the Union Budget 2021-2022. At construction sites, an aerial work platform (AWP) truck is used to securely and effectively elevate personnel and materials that are generally at a height. Furthermore, the arrival of local and well-established construction equipment manufacturers such as SANY Group and XCMG Group, as well as Zoomlion Heavy Industry Science & Technology Co., Ltd. in China, is expected to fuel market growth in the coming years.

Zoomlion Heavy Industry Science &Technology Co., Ltd., for example, deployed eight aerial work platforms in October 2018 to assure user safety. Leading companies in the region are investing in product development and research to improve worker safety and lifting capabilities. To increase their client base, local players are focused on product quality and innovation.

In addition, the negative consequences of GHG emissions from fossil-fuel-powered AWP trucks, such as air pollution and ozone depletion, have prompted a surge in demand for low-emission vehicles. Electric and hydraulically powered AWP vehicles with low or zero emissions are being introduced by market suppliers. Hybrid AWP truck models that use a mix of two distinct power sources improve rental flexibility and equipment usage. One of the important aerial work platform market trends, the rising usage of electric and hydraulically driven AWP vehicles, would positively affect market growth throughout the forecast period.
Aerial Work Platform (AWP) Truck Market Segment Analysis
Boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts are the most common aerial work platform truck items. Boom lifts are expected to develop rapidly and account for the bulk of market share in the next years. This might be due to an increase in use in complex architectural contexts or tight places with restricted access. Boom lifts also provide a number of advantages, including increased platform height, mobility, a narrow turning radius, a standard oscillation axle, and a compact construction.

In 2022, scissor lifts and vertical mast lifts accounted for over half of the worldwide aerial work platform truck market. The increasing need for scissor lifts in maintenance and installation applications might boost demand in the coming years. Additionally, the operational advantages of scissor lifts, such as mobility in small areas, may considerably boost product demand.

The increasing need for scissor lifts in maintenance and installation applications might boost demand in the coming years. Additionally, the operational advantages of scissor lifts, such as mobility in small areas, may considerably boost product demand. Growing concerns about worker safety are expected to drive product demand in this industry. Over the forecast period, the telecommunications industry is anticipated to have significant penetration and growth. This may be due to an increase in demand for related infrastructure in the telecommunications sector, particularly in developing countries like Brazil, India, and China.
Aerial Work Platform (AWP) Truck Market Regional Insights
The Asia Pacific AWP truck market is expected to grow rapidly due to increasing infrastructure and significant expenditures in both the commercial and domestic sectors. Over the forecast period, smartphone proliferation and the resulting need for upgraded communication infrastructure may have a favorable influence on industry demand.
Due to numerous upgrades and renovation operations in these countries, the aerial work platform truck markets in North America and Europe are expected to develop significantly. The strict regulatory environment in these locations in terms of safety standards may boost product demand.

Latin America and the Middle East and Africa may potentially see an increase in demand, which may be due to a changing regulatory environment and more government investment in infrastructure development. In addition, the increasing number of big building projects, particularly in the Middle East, is expected to boost product demand in the future years.
Aerial Work Platform (AWP) Truck Market Report Scope: Inquire before buying



Aerial Work Platform Truck Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 8.31 Bn.


Forecast Period 2023 to 2029 CAGR:
8.54%
Market Size in 2029:
US $ 14.75 Bn.


 Segments Covered:
by Product
Comprise boom lifts
Scissor lifts
Vertical mast lifts
Personal portable lifts


by End Use
Construction
Telecommunication
Transport & logistics
Government sectors


by Type
Electric
Engine-powered


by Platform Height
Below 10 meters
10 – 20 meters
20 – 25 meters
Above 25 meters



Aerial Work Platform (AWP) Truck Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Aerial Work Platform (AWP) Truck Market Key Players are:
1. Aichi Corporation
2. Hunan Runshare Heavy Industry Company Ltd.
3. Haulotte Group
4. Hunan Sinoboom Heavy Industry Co., Ltd.
5. Manitou Group
6. JLG Industries
7. Niftylift Limited
8. Genie
9. Skyjack
10.Zoomlion Heavy Industry Science and Technology Co., Ltd
11.Altec
12.Bronto Skylift
13.CTE
14.Runshare
15.Ruthmann
16.Shen Yang North Traffic Heavy Industry Group
17.Tadano
18.Terex
19.Time Benelux
Frequently Asked questions
1. What is the market size of the Global Aerial Work Platform Truck Market in 2022?
Ans. The market size Global Aerial Work Platform Truck Market in 2022 was US$ 8.31 Billion.

2. What are the different segments of the Global Aerial Work Platform Truck Market?
Ans. The Global Aerial Work Platform Truck Market  is divided into Product, End Use, Type and Platform Height.

3. What is the study period of this market?
Ans. The Global Aerial Work Platform Truck Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Aerial Work Platform Truck Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Aerial Work Platform Truck Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.