The world-wide (AWP) Aerial Work Platforms market is projected to reach over USD 16 Billion by 2026, this industry is likely to grow with 9% CAGR during the next eight years.
Growing need of efficient work process optimization by using advanced devices such as Aerial Work Platforms is one of the key factor responsible for the growth of the market.Also, the rapid growth in sector such as power, infrastructure and others is leading to rising activities such as repair and maintenance at global level. These are some of the major factors which are boosting the adoption of aerial work platforms and is propelling the market development.
The importance of AWP in time saving and improving the safety majors at the working locations is foreseen to be a key driver for the AWP market. The increasing usage of heighted and heavy machineries in the areas such as construction, mining, and others has accelerated the demand for aerial work platform (AWP).
An aerial work platform is also known as a bucket truck, aerial device, mobile elevating work platform (MEWP), or elevating work platform (EWP). These are mechanical devices and used for providing a temporary access to inaccessible areas for people or equipment such as taking human workers to the height. The AWP is witnessing increasing popularity due to the integration of advanced technical features, such as telematics, sensors, and CAN bus, as with integration of these technologies the safety levels are improved than the traditional platforms. From the past few years, the aerial work platform manufacturers are leveraging combination of such technologies and machines as it is improving the operational efficiency. For example, the integration of CAN bus technology the combination of various controllers and sensors is offered and this is becoming one of the emerging operational features for the benefits of workers.
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Market By Geography
In terms of demand and consumption, North America was the key region regarding in global aerial work Platform (AWP) market and expected to hold significant market share in 2018. The rapid growth in infrastructural projects at the commercial as well as residential areas is one of the prime factor resulting into growth of aerial work Platform (AWP) demand. Also, availability of potential disposable income and quick adoption of equipment such as aerial work Platform (AWP) to maintain secure and safe working environment for workers is boosting the adoption of these platforms in this region. Europe region is expected to hold second position in terms of volume utilization of the aerial work Platform (AWP) as the industries in this region are also more inclined towards the workplace safety improvement and workflow process optimization to maintain an efficient process.
The key players operating in the global (AWP) Aerial Work Platforms market are Terex Corporation,JLG Industries, Inc., Haulotte, Aichi Corporation, Tadano, Altec, Manitou, Snorkel, Niftylift., Time Benelux, Teupen, Ruthmann, BrontoSkylift, and Skyjack. Constant innovations for advancing the features of aerial work Platform (AWP) is one of the key strategy followed by these leading manufacturers. The dominant players are holding their position strong in this market by increasingly investing in the research and development process.