Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Aerial work platforms are basically used to get various jobs which are done at height efficiently and safely. Boom lifts are efficiently chosen to work at height with various tools along with other materials. Main components of aerial work platforms include scissors lift, tilt sensors, linear position sensors, rotatory sensors, linear displacement transducers and linear potentiometers. From scissors lifts to booms, machine elevated work platforms are considered to be an ideal solution to supply temporary access to various areas that are quite difficult to and reach. Factors uplifting the market growth are various benefits such as flexibility- they can be placed exactly where u need them and are easy and quick to move to different places. Furthermore, aerial lift is considered to be a vehicle mounted work platform that are easy to move both in horizontal and vertical directions.
Growing demand of various advanced technologies such as automatic self-checking instrument and tilt sensors is augmenting the market growth. Tilt sensors are capable of releasing time warnings and halting the machine operations when operators further exceed safety and security guidelines. Growing advancements and innovations in the equipment to improve product operational performance is uplifting the market growth. Furthermore, growing public infrastructure investments and renovational activities is likely to upsurge the market demand. Growing investments of government and airport authorities for the construction and development of new airports is one of the major key factors driving the growth of the market. Whereas, the absence of unskilled professionals to operate the equipment properly is one of the major factors restraining the market growth. However, various AWP manufacturers are operating in the industry and are training their workers to address these challenges and improve the market revenues.
The aerial work platform market was adversely affected due to the emergence of the covid-19 pandemic. Strict measurements are taken for the containment of the virus which further impacted the sales of the aerial work latforms market on a huge scale. Factors which slowed down the market growth of the AWP is shortage of labor and various raw materials which resulted in issues in the development & design of new equipment. This further formed a huge gap in demand and supply chains, impacting the revenue of the market players.
The report analyses of the aerial work platforms market based on product, type, platform height, application and by geography.
By product type, the global aerial work platforms market is segmented into vertical mass lifts, boom lifts, scissor lifts, and personal portable lifts. Boom lifts hold the largest market share. Various beneficial factors of boom lift such as reaching at greater heights and operational capacity in rough terrains are supporting the segmental growth. Various companies are focusing on development and design of new and advanced boom lifts to expand their portfolio and acquire a competitive edge in the aerial work platform market.
The aerial work platforms market by type is classified into engine-powered and electric. Electric segment is anticipated to hold the highest CAGR rate over the forecast period. Electric lifts are experiencing rapid acceptance in indoor locations due to their quiet operation and compact size. Factors such as zero emission and the capacity to move around in narrow passages is supporting the segment growth. Furthermore, growing awareness of lowering down the environmental impacts is also positively supporting the growth of the market.
The aerial work platforms market by platform type is bifurcated into 10 to 20 meters, below 10 meters, 20 to 25 meters, above 25 meters. Below 10 meters segment holds the largest market share due to high acceptance in house construction and various maintence activities. Growing labor costs across various regions is forming a wide demand for these equipment’s. Furthermore, the growing safety and security concerns have further led consumers to accept access platforms in replacement of conventional ladders for performing repair and maintenance operations.
The aerial work platforms market by application is segment into rental, government, construction & mining, transportation & logistics, utility. Construction and mining segment holds the largest market share. Rapid increment in various infrastructural developments worldwide is leading the segmental growth. Furthermore, increasing government initiatives on public infrastructure development is uplifting the demand for aerial work platform market.
Geographically, the aerial work platforms market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America and Europe holds the largest market share. Due to various technological advancements and growth in safety standards in these regions is uplifting the AWP market. Growing demand for these machines for transportation and in logistics industry will enhance the market size in the upcoming years. Furthermore, increasing government investments on export and import activities is uplifting the logistics and transportation services across regions. Furthermore, increasing applications of the aerial work platform for lifting up material handling activities in the logistics sectors will help in the acceptance of AWPs in this region.
Some of the major players operating in this market include Aichi Corporation, Hunan Runshare Heavy Industry Company Ltd., Hunan Sinoboom Heavy Industry Co., Ltd., Genie, Manitou Group, JLG Industries, Niftylift Limited, Skyjack, and Zoomlion Heavy Industry Science and Technology Co., Ltd. Haulotte Group.
The report analyses of the aerial work platforms market based on product, type, platform height, application and by geography.
By product type, the global aerial work platforms market is segmented into vertical mass lifts, boom lifts, scissor lifts, and personal portable lifts. Boom lifts holds the largest market share over the forecast period. Various beneficial factors of boom lift such as reaching at greater heights and operational capacity in rough terrains are leading the segmental growth.
Geographically, the aerial work platforms market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America and Europe holds the largest market share over the forecast period. Various technological advancements and growth in safety standards in these regions is uplifting the AWP market.
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