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2021

Aerial Work Platform Market

Aerial Work Platform Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Operation, Lifting Height and End-User Industry : Global Opportunity Analysis and Industry Forecast, 2020-2027

CM : Engineering, Equipment and Machinery

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Author's: Tanvi Pednekar | Sonia Mutreja
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Aerial Work Platform Market Outlook- 2027

The global aerial work platform market size is expected to reach $14,351.7 million in 2027, from $9,272.9 million in 2019, growing at a CAGR of 7.7% from 2020 to 2027. Aerial work platforms (AWP), also known as aerial lifts, mobile elevating work platforms (MEWP), cherry pickers, and others, find their applications in construction, warehousing, renovation, maintenance, utilities, and others end-user industries. AWPs are specially designed for elevating or raising personnel up to suitable heights and offer a stable and safe base during the uplifted stage. AWPs can be used in both indoor and outdoor applications and are highly versatile and efficient. 

The compact and versatile use of AWP surges its demand from the construction industry. Articulated boom lifts, telescopic boom lifts, scissor lifts, and others offer compact and easy transportation, which make them easy for use in indoor as well as outdoor construction activities. Further, the stable working conditions offered by AWPs help in reducing accidents and fatalities on construction sites; thus, making them a better choice than traditional scaffoldings. Thus, the high demand from construction industry is expected to drive the growth of the aerial work platform market. Moreover, the rapid infrastructural and manufacturing development in China drives the demand for AWP in the country. In addition, increased focus of Chinese manufacturers toward production of aerial work platforms is expected to drive the aerial work platform market growth.

Aerial-Work-Platform-Market-2020-2027[2]

However, the unavailability of skilled personnel to operate aerial work platforms is expected to restrain the growth of the aerial work platform market. AWPs are highly advanced and lack of training within operators can result in accidents. Hence, the adoption of AWPs is also significantly low in under-developed and developing countries. In addition, the COVID-19 pandemic has disrupted the normal operation of every industry. The government-imposed lockdowns and unstable economic conditions has declined the demand for AWPs; thereby, hindering the growth of the aerial work platform market. In addition, the halt in construction and logistics & transportation activities has also affected the demand for AWP during 2020. 

On the contrary, the development in new battery technologies is expected to boost the demand for electric aerial work platforms in the near future. The new and upgraded emission standards and limitations in indoor use of engine-powered AWP can create new opportunities for fully electric and hybrid AWPs; thereby, creating opportunities for the growth of the aerial work platform industry.

Aerial Work Platform Market
By Type
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Others segment is projected to grow at a significant CAGR

The global aerial work platform market is segmented on the basis of type, operation, lift height, end-user industry, and region. Based on type, the aerial work platform market is classified into boom lifts, scissor lifts, vehicle mounted platforms, and others. According to operation, it is categorized into fuel powered, electric, and hybrid. By end-user industry, the market is classified into construction, utilities, logistics & transportation, and others. Based on lift height, the market is fragmented into less than 20 feet, 20 to 50 feet, 50 to 70 feet, and above 70 feet. 

Aerial Work Platform Market
By Operation
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Hybrid segment is projected to grow at a significant CAGR

The global aerial work platform market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is expected to hold the largest market share throughout the study period, and Asia-Pacific is expected to grow at the fastest rate.

Aerial Work Platform Market
By Lift Height
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20 to 50 feet segment holds dominant position in 2019

Competition Analysis

The key market players profiled in the report include Aichi Corporation, Altec Inc., Haulotte Group, J.C. Bamford Excavators Limited, Niftylift (UK) Limited, Oshkosh Corporation (JLG Industries, Inc.), Skyjack (Linamar Corp.), Terex Corporation (Genie), Teupen, and Zhejiang Dingli Machinery Co., Ltd.   

Aerial Work Platform Market
By End-user Industry
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Construction segment holds dominant position in 2019

Many competitors in the aerial work platform market adopted agreement as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in November 2017, China-based aerial work platform manufacturer, Zhejiang Dingli, signed an agreement to purchase 25% stake in the U.S.-based California Manufacturing & Engineering Company (MEC) that offers a wide range of aerial work platform products. This enhanced the presence of Zhejiang Dingli in the North American aerial work platform market. In addition, companies are also adopting product launch strategies to enhance their product portfolio. For instance, in February 2021, the company Haulotte launched the SIGMA 16 and SIGMA 16 PRO electric articulating booms. The products are launched in North America as SIGMA 46 and SIGMA 46 PRO. The SIGMA 16 offers working height of up to 16 meters (46 feet) and can operate in both outdoor and indoor environments.

Aerial Work Platform Market
By Region
2027
Asia-pacific 
North America
Europe
LAMEA

North America holds a dominant position in 2019 and Asia-Pacific is expected to grow at a highest rate during the forecast period.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging global aerial work platform market trends and dynamics.  
  • In-depth analysis of the market is conducted by constructing market estimations for the key market segments between 2019 and 2027. 
  • Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive aerial work platform market analysis of all the countries is also provided in the report.
  • The global aerial work platform market forecast analysis from 2020 to 2027 is included in the report.
  • The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry. 

Global Aerial Work Platform Market Segments

By Type

  • Boom Lifts
  • Scissor Lifts
  • Vehicle Mounted Platforms
  • Others

By Operation

  • Fuel-powered
  • Electric
  • Hybrid

By Lift Height

  • Less than 20 Feet
  • 20 to 50 Feet
  • 50 to 70 Feet 
  • Above 70 Feet

By End-user Industry

  • Construction
  • Utilities
  • Logistics & Transportation
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa

Key Players

  • Aichi Corporation, Altec Inc.
  • Haulotte Group
  • J.C. Bamford Excavators Limited
  • Niftylift (UK) Limited
  • Oshkosh Corporation (JLG Industries, Inc.)
  • Skyjack (Linamar Corp.)
  • Terex Corporation (Genie)
  • Teupen
  • Zhejiang Dingli Machinery Co., Ltd.     

Aerial Work Platform Market Report Highlights

Aspects Details
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By Type
  • Scissor lift
  • Boom lift
  • Vehicle mounted platform
  • Others
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By OPERATION
  • Electric
  • Fuel engine
  • Hybrid
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By LIFT HEIGHT
  • Less than 20 feet
  • 20 feet to 50 feet
  • 50 feet to 70 feet
  • More than 70 feet
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By END-USER INDUSTRY
  • Construction
  • Utility
  • Logistics & transportation
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

.Oshkosh Corporation (JLG Industries, Inc.), Linamar Corporation (SkyJack), Terex Corporation, Haulotte Group S.A., Zhejiang Dingli Machinery Co, Ltd., Altec, Inc., Niftylift Limited, TEUPEN Maschinenbau GmbH, Aichi Corporation

Analyst Review

Although North America garnered the highest share in the aerial work platform market, China has emerged as the fastest growing country. The rapidly growing demand for aerial work platforms is exhibited from the construction and logistics & transportation end-user industries. In addition, the development of manufacturing infrastructure has assisted China in becoming the largest manufacturing hub globally. In addition, Chinese companies are now entering the global aerial work platform market with more and better variants to sustain the competition from its American and European counterparts.

Moreover, the aerial work platform market is seeking growth opportunities in developing countries such as India, Brazil, and others, owing to the high construction and manufacturing development in these countries. Further, the growing popularity of scissor lifts for indoor applications and the upgradations in battery technologies can help in sustaining the growth of aerial work platforms in the near future. 

Many competitors in the aerial work platform market adopted agreement as their key developmental strategy to expand their geographical foothold and upgrade their product technologies. For instance, in November 2017, China-based aerial work platform manufacturer, Zhejiang Dingli, signed an agreement to purchase 25% stake in the U.S.-based California Manufacturing & Engineering Company (MEC) that offers a wide range of aerial work platform products. This enhanced the presence of Zhejiang Dingli in the North American aerial work platform market. In addition, companies are also adopting product launch strategies to enhance their product portfolio. For instance, in February 2021, the company Haulotte launched the SIGMA 16 and SIGMA 16 PRO electric articulating booms. The products are launched in North America as SIGMA 46 and SIGMA 46 PRO. The SIGMA 16 offers working height of up to 16 meters (46 feet) and can operate in both outdoor and indoor environments.
 

Author Name(s) : Tanvi Pednekar | Sonia Mutreja
Frequently Asked Questions?

The global aerial work platform market size was $9,272.9 million in 2019 and is projected to reach $14,351.7 million in 2027, growing at a CAGR of 7.7% from 2020 to 2027.

The forecast period considered for the global aerial work platform market is 2020 to 2027, wherein, 2019 is the base year, 2020 is the estimated year, and 2027 is the forecast year.

To get latest version of global aerial work platform market report can be obtained on demand from the website.

The base year considered in the global aerial work platform market is 2019.

No, the report does not provide Value Chain Analysis for the global aerial work platform market. However, it provides market share analysis for the top players in the aerial work platform market.

The top ten market players are selected based on two key attributes - competitive strength and market positioning

On the basis of type, the scissor lifts segment is expected to be the most influencing segment growing in the global aerial work platform market report.

Based on the end-user industry, in 2019, the construction segment generated the highest revenue, accounting for 64.0% of the market and is projected to grow at a CAGR of 6.5% from 2020 to 2027.

The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically covers company overview, geographical presence, and market dominance (in terms of revenue and volume sales).

The market value of global aerial work platform market is $8,532.9 million in 2020. The decline is mainly due to the COVID-19 pandemic and the contraction in demand from North America and Europe. COVID Banner Statement: The COVID-19 pandemic has hindered the demand for aerial work platforms in North America and Europe, however, China exhibited significant growth in demand during the outbreak of COVID-19 pandemic.

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Aerial Work Platform Market

Global Opportunity Analysis and Industry Forecast, 2020-2027