The “Global Aerial Work Platforms (AWP) Market, by Product Type (Boom Lifts [By Platform Height {Upto 60', 60'-100', More than 100'}, By Configuration {Straight, Articulated}, by Fuel type { Gas/ Diesel, Electric, Hybrid}] Scissor Lifts [By Platform height {Upto 30', 30'-50', More than 50'}]), by Motive Mechanism (Self-Propelled, Manually Propelled and Vehicle Mounted), by Ownership (AWP Rental Service Providers and End-use Industries [Construction, Entertainment, Mining, Commercial, Manufacturing, Others]), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 16,251 million by 2027, witnessing a CAGR of 6.0 % during the forecast period (2019-2027), as highlighted in a report published by . Market Definition An aerial work platforms (AWP), cherry pickers, and other types of aerial lifts are mechanical devices that are used to provide mobile, safe alternative to ladder or scaffolding. Aerial work platforms are also referred as bucket trucks, articulating booms, aerial ladders, vehicle-mounted aerial device, or aerial ladder. AWPs are commonly used for fixing electrical, telephone, and cable lines. The vehicle is built with powerful articulating arm that can be bent and has an extended reach up to tall buildings, trees, and other infrastructure. 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 Driver Increasing safety concerns regarding construction workers and labors is expected to drive growth of the global aerial work platforms (AWP) market during the forecast period The government organizations have made stringent rules regarding safety features of AWP equipment. AWP offers various safety features including slip resistant surface, high ground railings, etc., in order to work on greater height in the construction and commercial industries. Moreover, increasing incidence of injuries occurred on work site are expected to drive the global aerial work platforms (AWP) market growth in the near future. According to the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA), in 2017, 5,147 workers died on job in the U.S. Market Opportunity Research and development activities, in order to innovate new product is expected to offer lucrative growth opportunities Key companies in the market are involved in development of novel products with incorporation of latest technologies. Such products will feature advanced safety equipment and telematics solutions. Such activities will assist manufacturers in increasing their market share and enhance profits. For instance, in October 2018, Zoomlion Heavy Industries Science & Technology Co., Ltd. launched new eight aerial work platforms with hydraulic, electric, and lithium battery-powered modes. Market Restraints High maintenance cost for aerial work platform equipment is expected to restrain growth of the global aerial work platform (AWP) market growth during the forecast period.  Aerial work platforms are complex mechanical devices and hence they require timely inspection and maintenance. If such inspections are not performed on a regular basis, it would lead to major mechanical problems, increasing overall cost of maintenance. Therefore, high maintenance cost of AWPs is expected to restrain the market growth in the near future. Key Takeaways

  1. North America Trends

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. The new standards released by American National Standards Institute (ANSI) at the end of 2018 has affected all the players in aerial lifts industry.  The new standards enhances the safety and globilasation aspects which turn out to be favourable for companies be more competitive. These standards have also renamed the aerial work platforms as Mobile Elevating Work Platforms (MEWPS). Companies like Manitou and Genie have already started complying with these standards in their upcoming products. Despite the fall of oil prices, the U.S rental market recorded Y-o-Y growth of 7% in 2018 to be pegged at around 570,000 units.

  1. Western Europe Trends

Manufacturers in the region are focused on product innovation and incorporation of advanced features. For instance, Haulotte Group supplied around 150 units of AWP to the support railway projects in which there was 41m articulated boom with a lifting speed up to 40 seconds and new range of telescopic lifts known for their rough-terrain capabilities. Furthermore, in 2015, Riwal, a U.K.-based rental company, invested US$ 88.4 Mn in expansion of its rental fleet including JLG 1850SJ ultra boom and hybrid machine JLG H340AJ to offer more versatile, newer, and diverse equipment range. 

  1. Latin America Trends

Self-propelled boom lifts and scissor lifts have found excellent traction in the Latin America Market, owing to versatility of these equipment and ability to cope against salt abrasiveness and oxidation. The Genie-380 boom lift that features high steel tubing on the platform and impact-resistant cushion bumpers and Genie –GS 4069RT is the major product intrigued in the region. Market Trends

  1. The rental segment in the U.S. market is expected to witness significant growth during the forecast period

The rental segment in the U.S. market is expected to register rapid pace as compared to Europe. This is owing to insurance, increasing and tax-associated expenses that are require as down payment for purchasing of construction equipment. Moreover, small- and medium-sized companies are preferring rental AWPs rather than procuring a new one.

  1. End users are preferring manually powered AWPs over automated ones

Manually propelled aerial work platforms are preferred by most end users as they are easy to use, offer convenience, and flexibility. Terex’s AWP super series products namely AWP-40S and AWP-36S with a tilt-back frame allows the user to roll through the doors and allows for quick setting-up Regulations Eastern Europe The Work at Height Regulations 2005* This regulation is formed to prevent injury and death caused by falling from height. The law is applicable to an employer who controls work at height such in aerial work platforms. The employers controlling and working at height must ensure that the work is supervised, planned and carried out by skilled professionals only. Competitive Section Key companies operating in the market 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 Developments

  1. Key companies in the market are focused on product launch, in order to gain competitive edge in the market. For instance, in May 2016, Tadano Ltd. launched a new model, GTC-800, 80-ton telescopic boom crawler crane, at Bauma 2016.
  2. Key manufacturers in the market are involved in launching novel products, in order enhance their market presence. For instance, in February 2019, JGL Industries, Inc. launched JGL Mobile Control App for its R Scissor line at ARA Show in California, U.S.

Market Taxonomy

  1. 1. By Product Type
  • Boom Lifts
  • By Platform Height
  • Up to 60’
  • 60’-100’
  • More than 100’
  • By Configuration
  • Straight
  • Articulated
  • By Fuel Type
  • Gas/ Diesel
  • Electric
  • Hybrid
  • Scissor Lifts
  • Up to 30’
  • 30’-50’
  • More than 50’
  1. By Motive Mechanism
  • Self-propelled
  • Manually propelled
  • Vehicle Mounted
  1. By Ownership
  • AWP Rental Service Providers
  • End-use industries
  • Construction
  • Entertainment
  • Mining
  • Commercial
  • Manufacturing
  • Others
  1. By Region
  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East & Africa (MEA)

 

 

 

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