Aerial work platform market is projected to grow at a considerable CAGR of 5.7% during the forecast period (2021-2027). The rising use of aerial lifts forconstruction & building maintenance, manufacturing & retail, automotive, and transport application is a major factor driving the growth of the global aerial work platforms market. Moreover, increased production capacities, housing/infrastructural expansions, and new warehouses are likely to create scope for aerial lift manufacturers. However, lack of trained workforce to handle new technology-based equipment may hinder the market growth. To combat with the adverse factors, cohesive government regulations are getting introduced to the market. 

For instance, in the US, the A92 standards were approved in May 2020 by the American National Standards Institute (ANSI) Boards of Standard Review, which applies to telescopic boom, articulated boom, and scissor lifts built after June 1st, 2020. It includes better training for Mobile Elevating Work Platform (MEWP) operators, site risk assessments, along with written rescue plans at construction sites. Moreover, the manufacturer has to integrate specific safety features into products such as load-sensing technology. It will prevent overloading of the aerial lifts.  

Segmental Outlook  

The aerial work platform market is segmented on the basis of product type, drive type, and application. Based on the product type, the aerial work platform market is segmented into boom lift, scissor lift, vertical mass lift, and personal portable lift. Scissor lift is anticipated is anticipated to hold considerable share in the global aerial work platform market based on product type. The wide scale usage of scissor lifts for different applications owing to its offered advantages is a key factor contributing towards the high share of this market segment.  Based on drive type the market is segmented into hydraulic, electric, and pneumatic. Hydraulic lifts require low maintenance, and are low cost lifts therefore, hydraulic lift segment is anticipated to hold major market share based on drive type. Based on application, the market is segmented into construction & building maintenance, manufacturing & retail, automotive, warehousing, transport, logistics, and others. 

Construction & Building Maintenance to be Major Application area of Aerial work platforms

Aerial work platforms such as scissor lift, boom lift, and personal portable lift among others offers a perfect alternative to ladders for indoor, outdoor as well as remote locations with better safety for construction projects as well as maintenance projects. Therefore, the widescale usage of such platforms for building maintenance is the key factor contributing towards the high share of the market segment. Besides, the warehousing segment is expected to witness the fastest growth rate during the forecast period owing to significant growth in the e-commerce market and so its logistic industry. 

Global Aerial Work Platform Market Share by Application, 2020 (%)

Regional Outlook 

The global aerial work platform market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is expected to hold considerable market share during the forecast period. This is due to the increasing development of construction activities and the government initiates in the development of smart city projects. Moreover, the increasing e-commerce sales in the region has also been contributing to the rise in the demand for aerial work platforms, as material handling equipment for lifting loads in the warehouses. The e-commerce industry in North America is estimated to exhibit a significant growth during the forecast period, backed by the well-established roadways and railways throughout the countries of North America, especially in the US. This, in turn, is offering growth to the e-commerce logistics services, including the growth to the aerial work platform market. 

Global Aerial work platformMarket Growth, by Region 2021-2027

Asia-Pacific is anticipated to register significant growth in the global aerial work platform market

Growth in the manufacturing, automotive, construction, and e-commerce industry in the emerging economies such as China, India, and ASEAN’s countries is providing the fastest growth to the region. The region is the largest manufacturing base for automotive, and electronics manufacturing. Moreover, China, Japan, and India are among the largest aviation industry globally. Besides, significant market demand for warehousing and transport & logistic will be witnessed in the region due to lucrative growth in the e-commerce market. 

Market Players Outlook

The aerial work platform market is fragmented as many small players are present in the market. However,a large chunk of the market is occupied by some major market players in the global market. The key market players in the global aerial work platform market include Terex Corp., JLG Industries, Inc., Zhejiang Dingli Machinery Co., Ltd., Aichi Corp., Palfinger AG, MEC Aerial Work Platform, Manitou BF SA, and others. These companies are making continuous investments in R&D to make progress in producing technologically advanced aerial work platforms. Mergers and acquisitions, new product launches, geographical expansion, partnerships, and collaborations are some of the key strategies adopted by the market players. For instance, In April 2020, Snorkel launched four new models of large deck construction scissor lifts. The model ranges from the S9031RT-HC, with a maximum working height of 11.4 m and lifting capacity of 1,587 kg, to the S9070RT-HC which has a maximum working height of 23.3 m and a lifting capacity of 907 kg.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global aerial work platform market. Based on the availability of data, information related to the products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.