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Aerial Work Platform (AWP) Market by Product (Boom Lifts, Scissor Lifts, Vertical Mass Lifts, Personal Portable Lifts), by Type (Electric, Engine-powered), by Platform Height (Below 10 Meters, 10 to 20 Meters, 20 to 25 Meters, Above 25 Meters), by Application (Rental, Construction & Mining, Government, Transportation & Logistics, Utility), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Russia), by Asia Pacific (China, Japan, India, South Korea), by Latin America (Brazil, Mexico), by MEA (UAE, South Africa, Saudi Arabia) Forecast 2025-2033
The size of the Aerial Work Platform (AWP) Market was valued at USD 9.3 Billion in 2023 and is projected to reach USD 18.35 Billion by 2032, with an expected CAGR of 10.2% during the forecast period. The Aerial Work Platform (AWP) Market centers on the creation and utilization of raised platforms that offer temporary access to elevated and difficult-to-reach locations for employees across multiple sectors, such as construction, maintenance, warehousing, and telecommunications. AWPs, including scissor lifts, boom lifts, and vertical mast lifts, are created to promote safety and productivity while working at elevated levels. These platforms serve various purposes, including building construction, facade maintenance, electrical installations, and outdoor signage tasks. The market is propelled by the growing need for safer, more efficient machinery in construction and maintenance tasks, alongside the surge in global infrastructure development. Moreover, the increasing popularity of rental services for AWPs is enhancing the market, as businesses pursue economical options without requiring long-term ownership of equipment. Technological progress, featuring the creation of electric-powered, environmentally friendly models and improved safety attributes like sophisticated controls and automatic leveling, is also driving market expansion. The Aerial Work Platform Market is projected to grow as sectors keep emphasizing safety, efficiency, and productivity in their activities.
The market exhibits moderate concentration, with key players holding significant market share. Innovation is a key characteristic, with companies investing in developing new products and technologies, including lithium-ion-powered models. Regulations play a crucial role in ensuring safety, while product substitutes like scaffolding pose competition. End user concentration is evident, particularly in the construction sector. M&A activity is moderate as companies seek to expand their product portfolios and geographic reach.
Key Region: North America, owing to its strong construction sector and well-established rental market.
Key Segment: Boom Lifts, due to their versatility and wide range of applications in construction, maintenance, and industrial sectors.
Market Size and Growth: The AWP market size is projected to reach USD 19.5 billion by 2027, driven by robust demand from various end-user industries.
Market Share: Zhejiang Dingli Machinery Co., Ltd., Terex Corporation (Genie), and JLG Industries, Inc. hold dominant market shares.
Growth: Construction and mining segments are expected to witness significant growth, owing to increased infrastructure development and mining activities.
In September 2023, Snorkel launched its inaugural lithium-ion-powered boom lift, the A46JRTE, marking a significant step towards electrification in the AWP industry.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.2% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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