Aerial Work Platforms (AWP), also known as aerial lifts or aerial devices, are frequently utilized equipment for various infrastructure development projects such as commercial and residential construction. These platforms provide easy access to perform tasks at heights with increased safety, efficiency and maneuverability. The equipment can be integrated with telescopic or articulating booms, scissors, aerial ladders or other components to complete tasks. AWPs find extensive applications in maintenance, repair and construction of buildings, bridges and electrical towers.
The global Aerial Work Platform (AWP) Market is estimated to be valued at US$ 40.95 million in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing investments in infrastructure development activities across both developed and developing countries is a major factor driving the growth of the AWP market. Rapid urbanization coupled with government focus on expanding transportation networks and energy infrastructure has augmented demand for various construction equipment including aerial work platforms. Furthermore, rising commercial construction of multi-storied buildings has also propelled the uptake of aerial work platforms for efficient completion of construction and maintenance activities. Adoption of advanced aerial lifts provides enhanced worker safety, precision and maneuverability at elevated work heights. Ongoing research and development in the aerial work platform industry is focused on introducing zero emission electric boom lifts to reduce operational costs and meet sustainability goals of the construction sector.
Segment Analysis
In the aerial work platform (AWP) market, scissor lift dominates the segment currently and is expected to witness high demand during the forecast period. Scissor lifts are versatile machines that provide working heights of up to 30 feet or more while occupying a relatively small footprint. They can fit in tight spaces like indoor parking garages and narrow aisles in warehouses. Scissor lifts are suitable for applications that involve maintenance, repair, building, construction and installation.
Key Takeaways
The Global Aerial Work Platform (AWP) Market Size is expected to witness high growth during the forecast period. The global Aerial Work Platform (AWP) Market is estimated to be valued at US$ 40.95 million in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis shows that North America dominates the global market currently due to high demand from various end use industries such as construction, mining, utility and telecommunication. The AWP market in North America is projected to witness the fastest growth during 2023-2030, growing at an estimated CAGR of over 6%.
Key players related content comprises Key players operating in the aerial work platform (AWP) market are Quest Diagnostics, Eurofins Scientific, SYNLAB International, Sonic Healthcare, LabCorp, Unilabs, Lifelabs, Healthscope, Clinical Reference Laboratory, ACM Medical Laboratory. Quest Diagnostics is a leading player in the North American AWP rental market owing to its large fleet size and extensive network across the region. Eurofins Scientific also has a significant presence in the European AWP market with over 300 rental locations that serve various industries.
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