Aerial Work Platform Rental Market Thumbnail Image

2022

Aerial Work Platform Rental Market

Aerial Work Platform Rental Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type, By Application, By Propulsion Type : Global Opportunity Analysis and Industry Forecast, 2020-2030

CM : Engineering, Equipment and Machinery

Select an option
Author's: Digvijay Subhash Pawar | Sonia Mutreja
Publish Date:

Get Sample to Email

Aerial Work Platform Rental Market Research, 2030

The global aerial work platform rental market size was valued at $41.4 billion in 2020, and is projected to reach $69.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030. Aerial work platform is a lifting device that can be rented to perform various tasks in industries, such as telecommunications, construction, logistics, and transportation. These systems are primarily used in applications, such as installing new structures at heights, repairing ducts, and overhead lines. The main purpose of these systems is to provide equipment and operators access to inaccessible places, such as high places. These systems have additional features, including compressed air & power tool socket mounting and windowpane frame support.

Increase in population has resulted in an increase in number of rural and urban infrastructure projects. This is the key factor that drives the aerial work platform rental market share during the forecast period. Furthermore, advancement in technology and features, including improved safety of the systems are in demand from the customers in the  industrial, commercial and government sectors for infrastructure development, maintenance and manufacturing segments. Moreover, substantial investments by governments for infrastructural developments of roads, telecommunication, power generation, transportation in the developing countries like China and India increase the demand for the aerial work platform rental during the forecast period. In addition, construction and infrastructure development industry is rapidly developing around the world. For instance, in 2022, the Indian Union budget has proposed to spend  $130 billion in infrastructural developments, which, in turn, drives the growth of aerial work platform rental industry.

Aerial work platform rental Market, Aerial work platform rental Industry, Aerial Work Platform Rental Market Size, Aerial Work Platform Rental Market Growth, Aerial Work Platform Rental Market Share, Aerial Work Platform Rental Market Trends, Aerial Work Platform Rental Market Analysis, Aerial Work Platform Rental Market Forecast, Aerial Work Platform Rental Market Opportunity

However, high equipment cost and lack of skilled operators hinder the market growth. Conversely, new technological advancements, including hybridization and electrification technology are anticipated to create  the aerial work platform rental market growth in the future.

Aerial Work Platform Rental Market
By Product Type
Your browser does not support the canvas element.

Vehicle Mounted Platforms holds the largest share in the market whereas the others segment is the fastest growing segment.

Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of aerial work platform rental equipment as well as their demand in the market dropped, thereby restraining the growth of the market. Conversely, industries gradually resumed their regular manufacturing and services. This reopened the market companies at their full-scale capacities, which  helped the aerial work platform rental market to recover by end of 2021.

Aerial Work Platform Rental Market
By Application
Your browser does not support the canvas element.

Utility segment holds the largest share in the market and the others is the fastest growing segment

Development in new battery technologies boosts the demand for electric aerial work platforms in the future. The new and upgraded emission standards and limitations in indoor use of engine-powered aerial work platform( AWP) are expected to provide new opportunities for fully electric and hybrid AWPs, thereby, creating opportunities for the growth of the aerial work platform rental market forecast.

On the contrary, manufacturers develop advanced equipment, which can be operated by connecting them through internet. Moreover, integration of IoT will help to overcome the shortage of skilled labors and enhance safety of operators and end users. These factors are anticipated to offer remunerative opportunities for the expansion of the global market during the forecast period.

Aerial Work Platform Rental Market by Propulsion Type

The aerial work platform rental market is segmented into by product type, application, propulsion type and region. On the basis of product type, it is fragmented into boom lift, scissor lift, vehicle mounted platforms, and others. As per application, it is classified into utility, manufacturing, construction and others. According to propulsion type, it is segregated into, diesel, electric, and hybrid. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Aerial Work Platform Rental Market by Region

On the basis of product type, in 2020, the vehicle mounted platforms segment dominated the aerial work platform rental market, in terms of revenue, whereas the others segment is expected to witness growth at the highest CAGR during the forecast period. As per application, in 2020, the utility segment led the aerial work platform rental industry, however, the others segment is expected to exhibit highest CAGR in the near future. By propulsion type, the electric segment led the market in 2020, in terms of revenue; however, the hybrid segment is anticipated to register highest CAGR during the forecast period. Region wise, North America garnered the highest revenue in 2020; however, LAMEA is anticipated to register highest CAGR during the forecast period.

COMPETITION ANALYSIS

The major players profiled in the aerial work platform rental market include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc. Major companies in the market have adopted acquisition and business expansion as their key developmental strategies to offer better products and services to customers in the aerial work platform rental industry.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aerial work platform rental market analysis from 2020 to 2030 to identify the prevailing the aerial work platform rental market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the aerial work platform rental industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global aerial work platform rental market trends, key players, market segments, application areas, and market growth strategies.

Aerial Work Platform Rental Market Report Highlights

Aspects Details
icon_5
By Product Type
  • Boom
  • Scissor
  • Vehicle Mounted Platforms
  • Others
icon_6
By Application
  • Utility
  • Manufacturing
  • Construction
  • Others
icon_7
By Propulsion Type
  • Diesel
  • Electric
  • Hybrid
icon_8
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, U.K., France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
icon_9
Key Market Players

Ashtead Group, Haulotte Group, Aktio Corporation, Kilotou, Nesco Rentals, Riwal, Sunstate Equipment Company., Loxam, United Rentals, AFI Uplift Ltd., Herc Holdings Inc.

Analyst Review

The global aerial work platform rental market witnessed a huge demand in North America followed by Europe. Highest share of the North America market is attributed to increase in demand for rental equipment instead of owing it.

Aerial work platform rental is generally used in road, communications, power generation, transit, and other infrastructure developments. The aerial work platform rental is widely used for construction and maintenance industry. The main objective of the aerial work platforms is to provide access to previously inaccessible places at a certain height. The market is constrained by high equipment costs and the need for specialized staff.

Furthermore, building and infrastructure development industries are growing quickly all across the globe. For instance, the Indian Union budget for 2022 proposes spending across $131 billion for infrastructure development. In addition, aerial work platforms are in high demand, owing to advancements in technology and features like better system safety. As a result, it drives the growth of the market. Furthermore, industry leaders invest significant money in the development of long-term equipment, such as hybrid aerial platforms and IoT integration. This overcomes the shortage of skilled labor and operators. Moreover, automation improves the safety of the users and operators. These factors drive the growth of aerial work platform rental market.

The players in this market adopted acquisition and business expansion as their key strategies to meet the consumer demands.

Author Name(s) : Digvijay Subhash Pawar | Sonia Mutreja
Frequently Asked Questions?

The aerial work platform rental market was valued at $41,435.4 million in 2020, and is expected to reach $69,028.6 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.

The forecast period considered for the global aerial work platform rental market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.

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

The base year considered in the global aerial work platform rental market report is 2020.

The top companies holding the market share in the global aerial work platform rental market report include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc.

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

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

Loading Table Of Content...

Individual sections of the reports are available for purchase.
Would you like to see a breakdown of prices by section?

Aerial Work Platform Rental Market

Global Opportunity Analysis and Industry Forecast, 2020-2030