An aerial work platform (AWP) or also called elevating work platform (EWP) is a mechanical device that is used to provide momentary access for people or instruments to unreachable areas, especially at height. There are different types mechanized access platforms are available and are referred as scissor lift or cherry picker. The lift functions in it can be controlled by the operator at the control base of the unit on the work platform itself. AWPs are used for various purposes including construction and maintenance work or by firefighters for emergency access in the time of emergency. They are designed to lift limited weight, typically less than one ton, though some have high safe working load.
The global aerial work platforms (AWP) market was valued at US$ 8,454 Mn in 2018 and 91,204 Thousand Units in terms of volume by the end of 2018 and is expected to grow at a CAGR of 6.0% during the forecasted period (2019-2027)
Market Dynamics- Drivers
- Easy and attractive availability of financing options in the market is expected to drive growth of the global aerial work platforms (AWP) market during the forecast period
Ambitious constructions companies often prefer to buy their own construction equipment, instead of renting them. This is due to availability of easy and lucrative financing options. Such options offer companies flexible payment terms and increase their purchasing power, which in turn, is expected to boost the demand for aerial work platforms and thereby, drive the market growth during the forecast period.
- Growing urbanization coupled with significant growth of construction industry is expected to propel the global aerial work platforms (AWP) market growth over the forecast period
Aerial work platforms find extensive applications in construction industry and is used to perform tasks such as loading, lifting, and transportation. Moreover, high growth of construction industry, owing to growing urbanization is expected to drive the market growth in the near future. For instance, the global construction industry is expected to be valued at US$ 15 trillion by 2025, up from US$ 8.0 trillion in 2012. Furthermore, according to United Nations DESA, as of 2014, 54% of the world’s population lives in urban areas. According to the same source, this share is expected to increase to 60% by 2050.
North America region dominated the global aerial work platforms market in 2018, accounting for 49.3% share in terms of value, followed by Western Europe and Latin America, respectively.
Source: Coherent Market Insights
- Lack of machine specific training among workers is expected to restrain growth of the global aerial work platforms (AWP) market over the forecast period
Lack of trained personnel in construction industry to operate these equipment leads to increased risk of on-sight hazards and low productivity. Moreover, around 60% of the market is into rental business, which provide trained workers for appropriate work only. This, in turn, is expected to restrain the market growth in the near future.
- High purchase and maintenance cost of AWPs is expected to hinder the global aerial work platforms (AWP) market over the forecast period
Aerial work platform equipment are expensive to purchase, which makes it challenging for small- and medium-sized companies challenging to buy one. There has been a substitution effect that has affected end users to rent the AWP. Moreover, AWPs require timely inspection and maintenance, like other mechanical equipment, which expensive as well. Thus, these factors are expected to restrain the market growth in the near future.
- Development of novel products with automation and efficient performance is expected to excellent growth opportunities for market players
Key companies are focused on developing and integrating latest technologies and introducing novel products, in order to gain competitive edge in the market. Moreover, integration of safety features and telematics solutions in AWP is expected to offer lucrative growth opportunities for market players. For instance, in August 2015, Terex AWP presented innovations in remote management and control at the 2nd Genie Technical Summit.
- Increasing replacement of manual labor with machinery is expected to significantly grow opportunities for market players in the near future
Growing inclination of construction companies toward machinery over manual labor, owing for better productivity and safety concerns, especially in emerging economies such as India and China are expected to pose attractive growth opportunities for market players during the forecast period.
Source: Coherent Market Insights
In global aerial works platform market, by product type segment, scissor lifts sub-segment was dominated by 30’-50’mts height platform segment in 2018, accounting for 45.8% share in terms of value, followed by more than 50’mts height and upto 30’mts height sub-segments, respectively.
Source: Coherent Market Insights
- Significant growth in global construction industry is expected to support the global aerial work platforms (AWP) market growth
Increasing number of commercial and residential projects coupled with rising development public infrastructure, especially in emerging economies such as India and China, are expected to create lucrative environment for the market growth. Growth of the global construction industry is matched by growing urbanization and increasing demand for construction equipment. This trend is likely to continue during the forecast period.
- Mechanizing aerial work platforms is another major trend in the market
Key companies in the market are focused introducing automation and self-propelled AWP lifts. Such lifts are safer, more productive, and more efficient than conventional aerial work platforms. However, these AWPs are relative more expensive and require high maintenance.
For North America & Latin America
Proper Use and Safety Standards- ASC A92
The Scaffold Industry Association (SIA) planned ASC A92 standards that are applicable only to U.S. applications. These standards are mainly used by owners, manufacturers, dealers, operators, and users of AWP equipment. The primary aim behind the standards is to ensure safe and proper use of equipment and prevention injuries and accidents. Following standards are maintained under ASC A92
- 2 Vehicle-mounted Elevating and Rotating Aerial Devices (trailer-mounted boom lift)
- 3 Manually Propelled Elevating Aerial Platforms (push-around)
- 5 Boom-supported Elevating Work Platforms (boom lifts)
- 6 Self-propelled Elevating Work Platforms (scissor lifts)
- 8 Vehicle-mounted Bridge Inspection and Maintenance Devices
Value Chain Analysis
Key companies operating in the market are Linamar Corporation, JLG Industries, Inc., MEC Aerial Work Platforms, Terex Corporation, Tadano Ltd., Haulotte Group, Mtandt Limited, V-tech Hydraulics, Zhejiang Dingli Machinery Co, Ltd., and Snorkel International, Inc.
- Key companies are focused in product launches, in order to enhance their product portfolio. For instance, in September 2019, JGL Industries, Inc. a manufacturer of aerial work platforms, launched SkySense technology for most boom and scissor lifts.
- Key players are focused on partnerships, in order to gain competitive edge in the market. For instance, in May 2016, Linmar Skyjack Group partnered with Multicrane Perkaa, an authorized distributor for Skyjack’s range of AWP in Indonesia.