Aerial Work Platform Market Size, Share & Trends Analysis Report By End Use (Rental, Construction & Mining), By Engine Type (Electric, Engine-powered), By Product Type (Boom Lifts, Scissor Lifts), And Segment Forecasts, 2020 - 2028

Report Overview

The global aerial work platform market size was valued at USD 15.64 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2020 to 2028. Increasing government investments in constructing residential buildings, commercial complexes, public transport infrastructure, and others are expected to propel the demand for aerial work platform (AWP) over the forecast period. The demand for AWP witnessed a serious disruption owing to the unprecedented effect from the global pandemic in the majority of its end-use industries, such as construction and transportation & logistics. The aforementioned industries have witnessed several obstacles, such as contract cancellation, project delay, supply-chain disruption, closure of various construction sites due to imposed lockdown across the globe to break the transmission chain of the virus.

The outbreak of the COVID-19 in 2020 had resulted in a temporary closure of many construction sites, and other industrial facilities, in the U.S. to break the transmission of the virus among workers. However, the government invested heavily in the construction of various modular hospitals and other medical facilities, for improvement and expansion of the healthcare system in the country, thus leading to increased demand for AWPs.

Aerial work platform, also known as Elevating Work Platform (EWP), aerial device, or Mobile Elevating Work Platform (MEWP), provides access to people, equipment, or people with equipment to reach inaccessible areas, especially at remote heights. They are primarily used to access areas of construction and maintenance work in various end-use industries for applications, such as the placement of products and goods and their storage in warehouse units.

Fully automated warehouses are gaining popularity in various developed countries. These warehouses require the deployment of a large number of single scissor lifts, double scissor lifts, and other lifting tables for product and pellets placement. Massive funding and investment in the construction of warehouse buildings by various e-commerce and logistics companies across the globe are expected to significantly contribute to the overall market growth.

Rising development in urban and rural infrastructure across the globe, coupled with initiatives by various governments to provide technological facilities including electrical utilities and telecommunication, is expected to complement market growth over the forecast period.

Aerial Work Platform Market Trends

The global aerial work platform is expected to witness a significant growth owing to its widespread utilization in various end-use industries such as transportation, logistics, retail, storage, construction, and warehouse Boom lifts are anticipated to be in high demand due to their adaptability, wide range of applications, and ability to maneuver around numerous barriers, particularly in the maintenance of electric utilities, telecommunications, and construction-related activities.

It is anticipated that the availability of a wide range of associated aerial platforms and portable vehicle-mounted equipment would accelerate market expansion, over the forecast period. It includes truck-mounted aerial work, self-propelled electric and diesel boom and scissor lifts, and insulated & non-insulated.

Fully automated warehouses are gaining popularity in various developed and industrialized countries. For the placement of products and pellets, these warehouses require the deployment of several single scissor lifts, double scissor lifts, and other lifting tables. It is anticipated that major funding and investment in the construction of warehouse buildings by several e-commerce and logistics companies worldwide will significantly contribute to the growth of the market.

Rising development in urban and rural infrastructure coupled with government initiatives to provide technical facilities such as telecommunication and electrical utilities is expected to augment the demand for aerial work platforms over the forecast period.

In recent years, there has been a rise in the demand for various mechanical and electrical equipment used in the construction of aerial lifts. Manufacturers are compelled to produce technically advanced equipment or lifts, such as hybrid and electricity-driven machinery to conserve fuel. Such sophisticated and technologically advanced aerial platforms have not yet been widely adopted owing to a lack of skilled labor.

The ANSI standards released in December 2018 affect all owners, operators, and supervisors of aerial lifts such as boom lifts, scissor lifts, and under-bridge inspection machines. These standards are designed to enhance safety and shift North American equipment standards closer to international standards, thus allowing companies and equipment manufacturers to be more competitive in the global marketplace.

Engine Type Insights

The electric AWP led the market and accounted for 71.7% of the global revenue share in 2020. Electric AWP is primarily used for indoor applications as they have a lower turning radius. Electric aerial lifts are expected to witness a high growth rate over the forecast period owing to their high capacity and zeroemission. The compact designs of these electric lifts make them suitable for the warehousing application, which has narrow aisles and confined spaces. Electric AWPs have less downtime as compared to the diesel machine as they have lesser components compared to the diesel motor. A smaller number of components helps reduce the maintenance cost of the system substantially. Electric AWPs do not have a hydraulic system that may heat up, reducing the operating time for diesel-operated lifts.

The engine-powered AWP segment is expected to witness a CAGR of 5.7% over the forecast period, which is driven by the higher demand for diesel engine-operated lifts used for outdoor applications with a heavy load. These AWPs are designed to sustain worst-case loading application, which facilitates the higher vertical reach and high load carrying capacity and are more construction-oriented compared to the electric drives. Engine-operated AWPs address the major disadvantage of the electric AWPs, which is their applicability in a remote location. Engine-powered AWPs can be deployed in a remote location. Hydraulic systems used in such AWPs allow the system to be deployed for heavy-duty applications.

Product Type Insights

Boom lifts led the market and accounted for 63.5% of the global revenue share in 2020. Boom lifts are approximately 6 times more expensive than scissor lifts leading to a higher revenue share of the former. The high cost of these lifts is attributed to their superior load carrying capacity and ability to reach more height with stability.

Boom lifts include various types, such as articulating boom lifts, telescopic boom lifts, towable boom lifts, and cherry pickers used for various outdoor applications. Boom lifts provide greater flexibility compared to scissor lifts. They use hydraulic arms that are capable of maneuvering around obstacles leading to higher flexibility.

Scissor lifts have low cost and a higher operating efficiency owing to the compact design and ability to perform repetitive loading tasks with high speed. They are commonly employed for the positioning work of materials and vertical lifting. Their ergonomic designs help improve the productivity of workers and reduce potential workplace injuries.

Vehicle-mounted platforms include scissor as well as boom lifts, which are mounted on the vehicles. The segment is expected to grow at a CAGR of 5.8% over the forecast period. Vehicle-mounted platforms are gaining more popularity owing to their impressive durability, better accessibility, and reach, and higher safety levels as compared to conventional methods to reach heights including ropes and ladders.

End-use Insights

The rental end-use segment led the market and accounted for 92.6% of the global revenue share in 2020. As the costs of AWPs are very high, a large amount of investment is required to use and maintain these platforms. Not all end users require these platforms daily and hence a majority of them acquire these platforms on lease or rent. Renting reduces the requirement of regular maintenance and saves the costs involved.

Construction sites involve accessing higher heights and majorly use rough terrain aerial platforms. These sites are prone to accidents related to workers operating at high heights. AWPs offer increased safety and flexibility to workers and operators as compared to conventional solutions. Increasing construction activities in developing countries, such as China, India, and Brazil, are expected to drive the demand for AWPs.

The demand for AWPs in the transportation and logistics sector is projected to register aCAGR of 8.0% over the forecast period. A rising number of supermarkets and the growing e-commerce industry have increased the number of warehouses and logistic centers around the globe. Growing e-commerce business and rapid globalization have boosted the trade activities around the globe, which are expected to drive the demand for AWPs.

Manufacturing facilities require timely maintenance as well as repair. These facilities need an AWP platform to carry out maintenance work of machinery and material handling equipment. AWPs facilitate better access to difficult-to-reach areas in manufacturing plants and other commercial places.

Regional Insights

The aerial work platform market in North America is expected to witness significant growth over the forecast period, owing to rapidly increasing investments in the construction of various commercial and residential complexes. In addition, the emerging IT and telecom sector in North American countries are expected to support the usage of aerial work platforms for setting up telecom towers and maintenance and repair operations at big heights, thus the development of the logistics and supply chain sector has led to the establishment of warehouses, distribution centers, and retail location, augmenting the demand for aerial work platforms.

The U.S. aerial work platform market is expected to grow rapidly over the forecast period owing to factors such as rapid investments in the logistics industry and rapid infrastructural development of clean energy systems. Furthermore, the U.S. government is investing heavily in the installation of solar panels and windmills for power generation as per its various sustainable energy initiatives. Installation, fittings, and maintenance of such structures require lifting workers at great heights wherein aerial work platforms prove beneficial, thus driving the market growth.

The Asia Pacific is characterized by increasing government investments toward infrastructure development, and the construction of affordable residences for the rising population, which is anticipated to contribute to the product demand for aerial work platforms. Rapid development in the logistics and supply chain sector coupled with rising e-commerce, involving the construction of warehouses, and large retail centers are expected to drive product demand for the forecasted period.

Rapid development in the logistics, retail, and warehousing sector in terms of automation, is projected to drive the demand for aerial work platforms in China. China-based companies are installing automated aerial work platforms to reduce the industrial fatalities caused due to high-rise operations, thus augmenting the market growth.

Key Companies & Market Share Insights

Key manufacturers focus majorly upon offering quality-certified equipment to ensure the safety and protection of workers. In addition, companies are investing in the research & development of advanced quality AWPs. Moreover, the companies, such as Galmon (Singapore), EdmoLift AB, Haulotte Group, and Shandong Qiyun Group Co., Ltd., offer customized solutions to meet the needs of the application industries.The companies operating in the market are also involved in mergers & acquisitions to diversify their presence and gain higher market shares. For instance, in August 2020, Zhejiang Dingli Machinery Co., Ltd. acquired 24% of Trupen’s stock rights. Trupen is one of the leading players engaged in the design, research, development, manufacturing, and sales of spider AWPs. Some prominent players in the global aerial work platform market include:

• Terex Corp.

• MEC

• JLG Industries

• Galmon (Singapore)

• Aichi Corp.

• EdmoLift AB

• Wiese USA

• Linamar Corp.

• Advance Lifts, Inc.

• Haulotte Group

Aerial Work Platform Market Report Scope

Global Aerial Work Platform Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global aerial work platform market report on the basis of engine type, product type, end use, and region.

• Engine Type Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

  • Electric

  • Engine-powered

• Product Type Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

  • Scissor Lifts

  • Boom Lifts

  • Vehicle-mounted Platforms

  • Others

• End-use Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

  • Rental

  • Construction & Mining

  • Transportation & Logistics

  • Others

• Regional Outlook (Volume, Units; Revenue, USD Billion, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Italy

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa