Aerial work platforms might even have advanced features including access and transport, including electrical outlets, and compressed air connectors for power tools. It can also be fitted with specialized equipment, such as window glass frames and underbridge units for lifting operators to a certain height required for any working location.
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Moreover, the rapid development for equipment from myriad industries has pushed manufacturers to sell technically fitted instruments such as electrification and hybridization technology, thus further widening the potential of development over the near future for the market for aerial work platforms. Scissor lifts are likely to remain highly preferred, accounting for over half of aerial work platforms sold through 2031.
Key Takeaways of Aerial Work Platforms Market Study
- Between 2021 and 2031, the aerial work platform market will expand at a CAGR of 12.0%
- The U.S. will emerge as a highly lucrative pocket, accounting for over 90% of the North America market in 2021, in terms of value
- The U.K. will exhibit steady growth post slowdown in 2020. FMI projects it to record above 1.5% Y-o-Y growth in 2021
- Rising construction spending will continue supporting demand from Germany and France
- Investment in infrastructural development will boost growth in Japan, South Korea, and China
“While investment towards technological improvements remains a key focus, key market players are expected to mostly rely on rental businesses to expand their footprint. Besides this, some of the companies are incorporating sensors in aerial work platforms to help them detect potential obstruction averting risk of accidents on site,” said a lead analyst at FMI
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Competitive Landscape
The aerial work platform market exhibits a high degree of consolidation. Companies operating in the market have been focusing on technology improvements and strategic collaborations to gain a competitive advantage.
For instance:
- Haulotte Group launched an auto-power of the system to limit the power consumption while the boom is idle. This new system was launched in 2019. To achieve this, the company incorporated its diagnostic tool, called Haulotte ActivScreen Cat 2 with a novel feature to enable auto power off
- In 2019, Tadano Limited announced the launch of a compact rough terrain crane, available for sale in North America and named it GR-150XL-3
Some of the leading companies operating in the market are:
- Terex Corporation
- J C BAMFORD EXCAVATORS Ltd.
- Aichi Corporation
- Haulotte Group
- Linamar Corporation
- Hunan Sinoboom Heavy Industry Co. Ltd.
- Manitou Group
- Tadano Limited
- Zhejiang Dingli Machinery Co., Ltd.
- OSHKOSH CORPORATION
- MEC AERIAL WORK PLATFORMS
- PALFINGER AG
- IMER INTERNATIONAL SpA
- MANUAL HEAVY INDUSTRY CO., LTD
- NOBLELIFT INTELLIGENT EQUIPMENTCO., LTD
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By Segment:
Product Type
- Boom Lifts
- Scissor Lifts
- Truck/Crawler Mounted Lifts
- Push Around Aerial Work Platforms
- Spider Lifts
- Others
Platform Working Height
- Below 10 Meters
- 10 to 20 Meters
- 20 to 30 Meters
- Above 30 Meters
Fuel
- Gas/ Diesel
- Electric
- Hybrid
End-User
- Industry
- Construction
- Mining
- Transportation and Logistics
- Manufacturing
- Aerospace and Defence
- Others (Utility, Government, etc.)
- Rental Providers
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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