Home > HVAC & Construction > Aerial Work Platform (AWP) Market

Aerial Work Platform (AWP) Market Size By Product (Boom Lifts, Scissor Lifts, Vertical Mass Lifts, Personal Portable Lifts), By Type (Electric, Engine-powered), By Platform Height (Below 10 Meters, 10 to 20 Meters, 20 to 25 Meters, Above 25 Meters), By Application (Rental, Construction & Mining, Government, Transportation & Logistics, Utility), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI689
  • Base Year: 2021
  • Report Format: PDF

Industry Trends

Aerial Work Platform (AWP) Market size exceeded USD 8 billion in 2021 and is anticipated to witness 9% CAGR between 2022 and 2028. Increasing construction & renovation activities are the major factors driving the industry statistics.
 

The proliferation of e-commerce companies globally is accelerating the construction of warehouses, thereby supporting the AWP market expansion. Scissor & vertical mass lifts play a vital role in managing the inventory stocks that are kept at greater heights. Supportive government initiatives to strengthen the transport sector and the growing e-commerce sector will boost the adoption of AWP.
 

Aerial Work Platform (AWP) Market

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Major technological advancements in AWP are creating market opportunities for the industry players. Manufacturers are developing efficient & advanced machines with safety features. Several companies are integrating virtual reality components into new AWPs that provide safety and help in training. The growing need for worker & public safety at work sites and increasing fatalities are fueling the utilization of these technologies across the market.
 

One of the major factors limiting the AWP market is the lack of trained operators. According to the Occupational Safety and Health Administration (OSHA), forklifts account for 85 deaths every year in the U.S. Forklift accidents can result in a total of 34,900 serious injuries annually while 61,800 non-serious injuries each year in the country. The lack of awareness of operating these vehicles, shortage of skilled workforces, and low knowledge of advanced technologies will hinder market growth.
 

The COVID-19 pandemic adversely affected the market revenue. The rapid spread of COVID-19 severely impacted the supply chain and logistics sectors and delayed construction projects globally. The complete sealing of some areas as containment zones further delayed delivery times. The demand-supply gap in the market is expected to reduce on account of increasing number of construction & renovation projects and the fiscal stimulus package provided by government bodies for economic revival.
 

Higher demand for boom lifts

Boom lifts segment held over 70% of the AWP market share in 2021 due to an enhanced outreach and efficient performance at elevated heights. Rising investments in the construction of manufacturing facilities, airports, power plants, and roads are boosting the utilization of boom lifts.
 

Low carbon footprint of electric-powered AWP

Electric AWPs are estimated to register a growth rate of around 9.5% through 2028. Electric access platforms are gaining traction owing to the increasing demand for electric machines to reduce fuel consumption & emissions. Several initiatives by global construction companies, government organizations, and regulatory authorities for reducing air pollution from building construction activities are also impacting the market demand. As a result, several manufacturers are shifting toward providing electric-powered platforms to address the demand from application sectors.
 

Enhanced safety & efficient performance of below 10 meters AWPs in constricted places

Aerial Work Platforms Market Size, By Platform Height

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The AWP platform of below 10 meters segment valued at nearly USD 400 million in 2021. The below 10 meters lifts are productive and safer than ladders in the compact places of construction areas. These lifts play an important role in carrying the maximum payload to the height, thereby reducing frequent material transport. Due to high labor costs in Europe and North America, these types of lifts are observing a greater demand in the region. Companies are introducing new products to stay competitive in the market.
 

Construction & mining segment is witnessing a higher adoption of AWPs

The construction and mining application captured more than 30% of the AWP market share in 2021. Rapid urbanization has stressed the need for residential construction projects in cities while there is also a rise in the number of commercial construction projects such as airports, shopping malls, and entertainment venues. As construction activities involve the transfer of heavy materials at great heights, there will be an increasing demand for AWPs. The use of AWPs eliminates the need for personnel to carry heavy goods that pose risks to their safety.
 

Growing demand in North America

North America Aerial Work Platforms Market Share, By Region

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The North America AWP market size surpassed USD 2.5 billion in 2021, with over 80,000 new units of AWPs sold. The growing construction of commercial and residential buildings in the region has increased the regional demand for aerial work platforms such as boom & scissor lifts. Industry participants in AWP rental services are increasing their product offerings by establishing strategic partnerships with AWP manufacturers.
 

Expansion of product portfolios to improve customer bases

Manufacturers are focusing on new product launches and partnerships & acquisitions to expand their product portfolios and improve their global presence. For instance, in November 2020, Snorkel launched a new diesel-engine-powered 660SJ boom lift in China. The new boom lift offers a height of up to 20.02 meters and a restricted payload capacity of 340.19kg. The equipment has zero-calibration automatic load-sensing systems that eliminate external weight requirements for lift calibrations.
 

The key AWP market players include Hunan Sinoboom Heavy Industry Co., Ltd., Hunan Runshare Heavy Industry Company Ltd., Aichi Corporation, Haulotte Group, Zoomlion Heavy Industry Science and Technology Co., Ltd., Manitou Group, JLG Industries, Genie, Niftylift Limited., and Skyjack.
 

This market research report on aerial work platform (AWP) includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2022 to 2028 for the following segments:

Market, By Product

  • Boom lifts
  • Scissor lifts
  •  Vertical mass lifts
  • Personal portable lifts

Market, By Type

  • Electric
  • Engine-powered

Market, By Platform Height

  • Below 10 meters
  • 10 – 20 meters
  •  20 – 25 meters
  • Above 25 meters

Market, By Application

  • Rental
  • Construction & mining
  • Government
  • Transportation & logistics
  • Utility

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
       
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market size of AWP surpassed $15 billion in 2021 and is predicted to record a CAGR of 9% during 2022 to 2028.

Boom lifts held more than 70% of the AWP market share in 2021 as they have a higher reach and can perform efficiently at elevated heights across various construction sites.

The overall market size from electric AWPs is anticipated to register more than 9.5% gains through 2028 as there is a high demand for electric machines to reduce emissions and fuel consumption.

The AWP platform of below 10 meters segment valued at more than $400 million in 2021 as these lifts are safer than ladders and can be easily used in compact spaces of a construction site.

The construction and mining applications held over 30% of the industry share in 2021 as the need for residential and commercial construction projects is rising at a robust rate across cities.

North America AWP market size exceeded $2.5 billion in 2021 as the construction of commercial and residential buildings is steadily growing, thereby increasing the demand for boom and scissor lifts.

Aichi Corporation, Haulotte Group, Hunan Runshare Heavy Industry Company Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., JLG Industries, and Manitou Group, among others, are the major participants of the industry.

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Premium Report Details

  • Published Date: Mar 2022
  • Companies covered: 18
  • Tables & Figures: 448
  • Countries covered: 16
  • Pages: 300

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