Feb 14, 2020 (Heraldkeepers) — Market Definition
An aerial work platform (AWP) or also called elevating work platform (EWP) is a mechanical device that is used to provide momentary access for people or instruments to unreachable areas, especially at height. There are different types mechanized access platforms are available and are referred as scissor lift or cherry picker. The lift functions in it can be controlled by the operator at the control base of the unit on the work platform itself. AWPs are used for various purposes including construction and maintenance work or by firefighters for emergency access in the time of emergency. They are designed to lift limited weight, typically less than one ton, though some have high safe working load.
The global aerial work platforms (AWP) market was valued at US$ 8,454 Mn in 2018 and 91,204 Thousand Units in terms of volume by the end of 2018 and is expected to grow at a CAGR of 6.0% during the forecasted period (2019-2027)
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An aerial work platforms (AWP), cherry pickers, and other types of aerial lifts are mechanical devices that are used to provide mobile, safe alternative to ladder or scaffolding. Aerial work platforms are also referred as bucket trucks, articulating booms, aerial ladders, vehicle-mounted aerial device, or aerial ladder. AWPs are commonly used for maintenance and repair activities like fixing electrical, telephone, and cable lines or construction purposes. The vehicle is built with powerful articulating arm that can be bent and has an extended reach up to tall buildings, trees, and other infrastructure. The lift functions in it can be controlled by the operator at the control base of the unit on the work platform itself.
With the increase in number of accidents with workers and labors working on heights, governments of different countries are taking stringent actions for their safety. This is promoting use of AWP equipment. As the AWPs provide various safety features like slip resistant surface, high ground railings, etc., in order to work on greater height in the construction and commercial industries more safely. Although facing some challenges in form of maintenance cost, AWP market will be growing with the advent of latest technologies and its adoption in AWPs. Like the electric and hybrid lifts which are replacing the fuel operated traditional lifts and the costly maintenance thereby. Also, additional safety features are being loaded up like the Platform Load sense system which limits the load within safety standards, Dynamic Terrain Sensing alerts the operator when the angle of the chassis reaches operational limit.
Market Dynamics- Drivers
Easy and attractive availability of financing options in the market is expected to drive growth of the global aerial work platforms (AWP) market during the forecast period
Ambitious constructions companies often prefer to buy their own construction equipment, instead of renting them. This is due to availability of easy and lucrative financing options. Such options offer companies flexible payment terms and increase their purchasing power, which in turn, is expected to boost the demand for aerial work platforms and thereby, drive the market growth during the forecast period.
Growing urbanization coupled with significant growth of construction industry is expected to propel the global aerial work platforms (AWP) market growth over the forecast period
Aerial work platforms find extensive applications in construction industry and is used to perform tasks such as loading, lifting, and transportation. Moreover, high growth of construction industry, owing to growing urbanization is expected to drive the market growth in the near future. For instance, the global construction industry is expected to be valued at US$ 15 trillion by 2025, up from US$ 8.0 trillion in 2012. Furthermore, according to United Nations DESA, as of 2014, 54% of the world’s population lives in urban areas. According to the same source, this share is expected to increase to 60% by 2050.
Key companies operating in the market are Linamar Corporation, JLG Industries, Inc., MEC Aerial Work Platforms, Terex Corporation, Tadano Ltd., Haulotte Group, Mtandt Limited, V-tech Hydraulics, Zhejiang Dingli Machinery Co, Ltd., and Snorkel International, Inc.
Global Aerial work platforms (AWP) Market, By Product Type:
- Boom Lifts
- By Platform Height
- Up to 60′
- More than 100′
- By Fuel Type
- Gas/ Diesel
- Scissor Lifts
- Up to 30′
- More than 50′
Global Aerial work platforms (AWP) Market, By Motive Mechanism:
- Manually propelled
- Vehicle Mounted
Global Aerial work platforms (AWP) Market, By Ownership:
- AWP Rental Service Providers
- End-use industries
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