Increasing the number of urban and rural infrastructure projects to meet the needs of the increasing population around the world is generating endless growth avenues for the aerial work platforms market. According to Future Market Insights (FMI), the aerial work platform market is expected to surpass US$ 7.09 Bn by 2021. The demand for aerial work platforms is increasingly growing in the general infrastructure and manufacturing sectors. It has become popular between small & giant construction firms and maintenance agents.
In addition, massive government spending on infrastructure projects such as highways, rail, water conservation, and power generation is likely to create lucrative business opportunities over the next few years. However, low availability of qualified machine operators and massive costs incurred during the procurement of equipment are some of the factors that might impede the growth.
Request Sample:- futuremarketinsights.com/reports/sample/rep-gb-1797
Moreover, the rapid development for equipment from myriad industries has pushed manufacturers to sell technically fitted instruments such as electrification and hybridization technology, thus further widening the potential of development over the near future for the market for aerial work platforms. Scissor lifts are likely to remain highly preferred, accounting for over half of aerial work platform sold through 2031.
Request For Customization :-https://www.futuremarketinsights.com/customization-available/aerial-work-platforms-market
Key Takeaways of Aerial Work Platforms Market Study
- Between 2021 and 2031, the aerial work platform market will expand at a CAGR of 12.0%
- The U.S. will emerge as a highly lucrative pocket, accounting for over 90% of North America market in 2021, in terms of value
- The U.K. will exhibit steady growth post slowdown in 2020. FMI projects it to record above 1.5% Y-o-Y growth in 2021
- Rising construction spending will continue supporting demand from Germany and France
- Investment in infrastructural development will boost growth in Japan, South Korea, and China
Aerial Work Platform (AWP) Market Competitive Landscape
The aerial work platform market exhibits a high degree of consolidation. Companies operating in the market have been focusing on technology improvements and strategic collaborations to gain competitive advantage.
Haulotte Group launched an auto-power of system to limit the power consumption while the boom is idle. This new system was launched in 2019. To achieve this, the company incorporated its diagnostic tool, called Haulotte ActivScreen Cat 2 with novel feature to enable auto power off
In 2019, Tadano Limited announced the launch of a compact rough terrain crane, available for sale in North America and named it GR-150XL-3
Some of the leading companies operating in the market are:
J C BAMFORD EXCAVATORS Ltd.
Hunan Sinoboom Heavy Industry Co. Ltd.
Zhejiang Dingli Machinery Co., Ltd.
MEC AERIAL WORK PLATFORMS
IMER INTERNATIONAL SpA
MANTALL HEAVY INDUSTRY CO.,LTD
NOBLELIFT INTELLIGENT EQUIPMENTCO.,LTD
Related Links :-
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
United Arab Emirates