Aerial Work Platform (AWP) Market Analysis

Aerial Work Platform Market Analysis

The boom lifts segment accounted for over 70% of the market share in 2022 and is projected to grow by 2032. The introduction of new hydraulic boom lifts is driving growth in the aerial work platform market. These innovative lifts offer versatility and efficiency for tasks that require reaching high or challenging locations. With enhanced features and capabilities, such as increased reach & improved safety measures, these boom lifts are in high demand across industries such as construction and maintenance.
 

The electric segment accounted for over 70% of the market share in 2022 and is estomated to grow by 2032. The adoption of electric aerial work platforms is fostering lucrative growth in the AWP market. Electric AWPs offer numerous advantages including reduced emissions, quieter operation, and improved energy efficiency.
 

For instance, in February 2023, MEC Aerial Work Platforms launched the NANO10-XD, an electric scissor lift featuring a compact design. This innovative scissor lift addresses environmental concerns by eliminating the risk of oil leaks in environmentally sensitive applications. It achieves this by utilizing an all-electric system for lift, steering, and propulsion, thereby eliminating the need for hydraulic oil. As companies seek eco-friendly alternatives and cost-effective solutions, the demand for electric AWPs continues to rise, propelling the overall market growth.
 

North America dominated the global aerial work platform market with a major share of over 35% in 2022. Infrastructure development in the U.S. is a major factor driving the market growth. The country's ongoing investment in infrastructure including road construction, bridge repair, and urban expansion demands the use of AWPs for various tasks at elevated heights. This includes maintenance, inspection, and construction work. The emphasis on infrastructure improvement aligns with the need for safe and efficient access to high places, making AWPs indispensable tools in the nation's development efforts.