Aerial Work Platform Market to exceed 500,000 units shipment by 2026: Global Market Insights, Inc.

SELBYVILLE, Del., March 25, 2020 (Newswire.com) - ​​​​​​Global Market Insights, Inc. has recently added a new report on the aerial work platform market which estimates the global market valuation for AWP's will cross US $18 billion by 2026. The rising demand for aerial work platforms in the telecom industry for electrical line repair, telephone wire, and transformer maintenance activities will propel the AWP market size. Moreover, the positive outlook of the global construction industry is anticipated to surge market demand.

The growing demand for vertical mast lifts across various industry verticals such as retail centers, public buildings, and airports for maintenance application is creating opportunities for market expansion. These lifts are witnessing a demand in maintenance applications, such as shelving, duct repair, and managing assembly lines, owing to their high portability and compact size compared to other AWP models.

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The AWP industry is driven by the rising demand for electric access platforms for sustainable, efficient, and productive operations. The emergence of lightweight and durable electric AWPs is increasing market demand. Moreover, the innovation of electric aerial platforms with reduced charging time and longer runtime features will propel the aerial work platform market demand through 2026. Increasing government initiatives for the adoption of sustainable lifting solutions are strengthening product demand. Companies, such as JLG and Genie, are launching electric-powered aerial platforms to support the market trend.

Increasing usage of the access platform of above 25m height for outdoor construction and industrial applications is strengthening the demand for AWP products. AWPs above 25m are equipped with flat telescopic booms to perform heavy lifting activities in complex conditions. The emergence of tight turning radius AWPs coupled with a zero tail swing feature for better maneuverability is creating new market opportunities. Companies such as Genie and Aichi Corporation are offering aerial lift with 25 meters height powered by diesel and electric engines.

Rising demand for aerial lifts for the construction of new power plants across the globe is creating opportunities for the aerial work platform market. Increasing powerplant management projects is augmenting the demand for aerial platform solutions. The AWP market is driven by growing government initiatives for the development of nuclear powerplants. Insulated aerial lifts are used for installing and maintaining electric-powered transmission grids. Access platforms are being used for indoor powerplant installations and maintenance applications that include electronic and pneumatic machines equipped for power generation.

Browse key industry insights spread across 300 pages with 423 market data tables & 26 figures & charts from the report, "Aerial Work Platforms (AWP) Market Share & Forecast, 2020 - 2026" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/aerial-work-platform-awp-truck-market-report

The North America aerial work platforms market is estimated to grow over the forecast timeline owing to increasing commercial and residential construction projects. Government authorities are making investments in urban residential building projects, providing a positive outlook for the regional construction industry. Moreover, the emerging IT & telecom sector in North America is supporting the adoption of access platforms to perform frequent maintenance operations.

Some major findings of the AWP market report include:

• Aerial work platforms are primarily used for building maintenance, construction, and painting activities across various industry verticals.
• Rising urbanization coupled with increasing consumer disposable income across North America and Asia Pacific is supporting the demand for AWP in construction applications.
• The construction equipment rental services are gaining high popularity in Asia Pacific countries including China, South Korea, Japan, and India due to their low cost and enhanced flexibility.
• The rising adoption of electric-powered AWP for sustainable construction practices is strengthening the market demand for access platforms.
• To sustain in the competitive market, players are focusing on maintaining public relations, technological advancements, and innovation strategies. They are offering products integrated with mobile control apps for feasible operation to gain more customers.

Key players operating in the aerial work platform market share are JLG Industries, Manitou Group, Terex Corporation (Genie), Aichi Corporation, Zhejiang Dingli, and Zoomlion Heavy Industry Science and Technology Co. Ltd.

The industry players are launching advanced AWP products to increase their offerings. For instance, in February 2019, JLG Industries, Inc. announced the launch of a mobile control app for R Series Scissor Line. The software allows operators to drive, steer, and load scissor lifts using the mobile application platform.

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Partial chapters of report table of contents (TOC):

Chapter 3. AWP Industry Insights

3.2. Industry landscape, 2015 - 2026

3.2.1. Global AWP rental market size, 2015 - 2026

3.2.1.1. North America

3.2.1.2. Europe

3.2.1.3. Asia Pacific

3.2.1.4. Latin America

3.2.1.5. MEA

3.3. Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. End-use landscape

3.3.5. Vendor matrix

3.4. Technology & innovation landscape

3.4.1. Electrification

3.4.2. Telematics

3.4.3. IoT & AI

3.5. Regulatory landscape

3.5.1.1. North America

3.5.1.2. Europe

3.5.1.3. Asia Pacific

3.5.1.4. Latin America

3.5.1.5. MEA

3.6. Industry impact forces

3.6.1. Growth drivers

3.6.1.1. Proliferation of global construction industry

3.6.1.2. Development of technologically advanced access platforms

3.6.1.3. Increasing government spending in smart city projects across the globe

3.6.1.4. Rising popularity of rental equipment services in the Asia Pacific

3.6.1.5. Increasing reconstruction and maintenance activities in Japan

3.6.1.6. Growing numbers of infrastructure transformation projects in Indonesia and Thailand

3.6.1.7. Development of urban infrastructure in South Africa and India

3.6.1.8. Infrastructure development and maintenance projects in Brazil and Mexico

3.6.1.9. Growing investment in mining projects across Latin America & MEA

3.6.2. Industry pitfalls & challenges

3.6.2.1. Lack of skilled operators

3.6.2.2. Increasing demand for used construction equipment

3.6.2.3. High cost of access platforms

3.7. Growth potential analysis

3.8. Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9. Competitive landscape, 2019

3.9.1. Company market share analysis

3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)

3.10. PESTEL analysis

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Source: Global Market Insights Inc.