Global AWP Market size worth over $18 billion by 2026

(Aerial Work Platforms) AWP Market size is set to be over USD 18 billion by 2026, according to a new research report by Global Market Insights, Inc. Global shipments are expected to grow at 10% CAGR through 2026.
 

The AWP market is primarily driven by the on-going development of technologically advanced access platforms. Leading companies are incorporating IoT and AI technologies to construction equipment to enhance their efficiency and productivity, attributing to market size. For instance, in November 2018, Zoomlion announced the launch of eight new AWPs that are integrated with IoT and AI technologies, allowing operators to monitor the equipment remotely. The newly integrated sensors provide precise safety warnings in case of potholes, tilting, and overloading, etc., thereby maximizing the safety and convenience of mechanical operation.

 

Request Sample Buy NowInquiry Before Buying

 

The government authorities across the globe are implementing stringent worker safety rules and regulations, leading construction contractors to adopt MEWPs. These machines are integrated with additional safety features such as side guardrails, providing enhanced safety over traditional climbing methods such as scaffold and ladders. Moreover, hotels, restaurants, and corporate, and government offices are increasingly deploying AWPs for several maintenance, repair, and cleaning activities, supporting AWP market growth.
 

Asia Pacific AWP Market

Get more details on this report - Request Free Sample PDF
 

The major factor challenging the market is the high initial cost of mobile elevating work platforms (MEWPs). Construction projects with budget constraints prefer to use low-cost alternatives such as scaffold at working sites; however, the availability of equipment rental services is anticipated to address the industry challenge over the forecast timeline.
 

Analyst view: “The electric access platforms segment will witness a significant growth over the forecast timeline- due to the increasing demand for energy-efficient construction machinery to curb the rising carbon emission levels across the globe.”
 

The increasing demand for low-cost access platforms in indoor and outdoor applications

Based on product type, the market is segmented into scissor lifts, vertical mass lifts, boom lifts, and personal portable lifts. The scissor lift segment held over 20% of the market share in 2018. These access platforms are witnessing a high market demand due to their larger size and cheaper price compared to other MEWP models. Large platforms offered by scissor lifts along with crisscrossing braces extending vertically upward offer a high level of safety & stability, ensuring smooth movement of platform in the vertical direction.
 

Scissor lifts are increasingly being used in maintenance & repair activities for both indoor and outdoor applications, attributing to market size expansion. Moreover, these lifts are witnessing high demand in the logistics & warehouse sector to lift heavy items and stack boxes & materials at elevated heights. The emergence of electric scissor platforms is contributing to the market share. Industry players are innovating new electric models of scissor lifts to support the increasing consumer demand for energy-efficient access platforms.
 

Browse key industry insights spread across 300 pages with 423 market data tables & 26 figures & charts from the report, “(AWP) Aerial Work Platforms 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), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive 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
 

Growing demand for high-performance lifting solutions

The engine-powered access platforms segment held over 30% of the AWP market share in 2019. The consumer demand for high-performance access platforms to lift heavy materials and tools at jobsites is supporting the adoption of engine-powered AWPs. These lifts offer maximum lifting capabilities and enhanced operational time compared to electric lifting platforms.
 

Companies manufacturing diesel-powered access lifts are primarily focusing on developing more energy-efficient lifts, consuming less fuel to support the industry trend. The implementation of government regulations on construction equipment emission levels has led market players to manufacture access platforms adhering to stringent emission standards. However, the rising market trend of electric construction machinery is anticipated to restrict growth of engine-powered access platforms over the forecast timeline.
 

The increasing requirement of safety at highly elevated operational sites

AWP models with platform height of 20 to 25 meters are witnessing a significant demand in utility, residential, and commercial construction projects owing to its safety & stability offered at elevated heights. Manufacturers are enhancing operator safety & comfort features in newly developed access platforms to eliminate workplace fatalities on highly elevated operational sites, supporting the AWP industry development. These machines are also gaining high popularity in rental applications owing to increasing construction projects across the urban areas of the U.S., China, Brazil, and India.
 

The increasing number of construction projects across the globe is driving AWP market demand. Access platform offers high efficiency and safety at great heights, making it a suitable option for large construction projects. Moreover, increasing security concerns and various government initiatives to improve the working environments are anticipated to support the adoption of MEWPs in construction applications over the forecast timeline.
 

Proliferating construction and mining industry in MEA

The rising number of construction and infrastructure projects in the urban areas of the UAE and Saudi Arabia is anticipated to propel the market size over the forecast timeline. Several mega events such as Qatar FIFA World Cup 2022 and Dubai Expo 2020 are creating new opportunities for the regional construction industry, thereby supporting the market growth.
 

AWP market players are laying emphasis on adopting strategic alliances, partnerships, and collaborations, along with improving their R&D capabilities to innovate new solutions and provide enhanced customer experience. Additionally, market players are also focusing on enhancing post-purchase services to strengthen their market position and gain a competitive edge over rivals.
 

Key players in the AWP market share include Haulotte Group, CTE, Aichi Corporation, Dinolift OY, Holland Lift International bv, Manitou Group, Hunan Sinoboom Heavy Industry Co. Ltd., Hunan Runshare Heavy Industry Company, Ltd., JLG Industries, Niftylift Limited, Skyjack, Snorkel, Socage Srl, Zhejiang Dingli Machinery Co, Ltd., Tadano Limited, Teupen, Genie, and Zoomlion Heavy Industry Science and Technology Co. Ltd.
 

Explore More on Related Topics:

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X