Aerial Work Platform Market - A Paradigm Shift Away from Ladders and Ropes

AWP Manufacturers Hinge on Advanced Equipment Realizing Labor Safety and Environmental Concerns

  • 2019-08-19
  • REP-GB-1797
  • 40 Tables
  • 110 Figures
  • 268 pages
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 Aerial Work Platforms Market
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Avoiding Potential Mishaps with Enhanced Detection Systems

Aerial work platforms (AWPs) are establishing a firmer foothold in the industrial and construction sectors where the infrastructure assets require extensive maintenance. The AWPs, when coupled with enhanced sensor technologies, such as ultrasonic sensor and radar, detect the presence of nearby objects like beam or window ledge, by releasing radiations, and notify the operators with audio-visual alarms. Various sensors including, tilt sensors and rotary sensors, among others, paired with Inertial Measurement Unit (IMU) and advanced dynamic programming algorithms, improve stability by filtering out disturbances occurring due to vibration and wind effects. Integration of boom stability control technology (BSC) into aerial work platforms limit boom hydraulic oscillation and foresee ground abnormalities, resulting in better operation, faster speed, and lesser loss through discharges with least hardware and wirework. Increasing usage of facade materials and building thermal insulation materials in today's scenario is expected to drive usage of aerial work platforms across the globe.

Aerial work platforms, armed with load sense system (LSS), checks the weight of the platform before it leaves the ground and after placing stuffs on it during operation. If the weight exceeds the loading capacity in either of the cases, the LSS disengages the working of the aerial work platform. Some AWPs incorporate a load sense recovery feature which enables the workers to land safely through restricted operation, allowing them to unload the material from the bucket until both the alarms go off before resuming the work.

Aerial Work Platforms Market - Key Research Findings

aerial work platform market snapshot
  1. The global aerial work platforms market size in 2018 was valued at ~US$ 8.39 Bn. 
  2. The aerial work platforms market is expected to grow at a CAGR of ~4% during the forecast period of 2019-2029. 
  3. Emerging nations are showing signs of growth in the aerial work platforms market, whereas, developed nations are showing signs of market saturation. 
  4. On the global front, construction and commercial end-use industries are estimated to account for more than half of the revenue generated by the procurement of aerial work platforms. 
    • The construction segment, on account of the continual population growth, rising urbanization, and increasing investment in the infrastructure renewal and construction is one of the most prominent end-use segments, which is expected to witness an increased deployment of aerial growth platforms during the forecast period. 
  5. North America, Europe, and East Asia are expected to account for more than half of the global aerial work platforms market, both in terms of value and volume during the forecast period, while South Asia is expected to be the fastest growing market. 
    • The aerial work platforms market is expected to be prominent by rental service providers on the ownership front as more small and medium scale enterprises resort to hire such heavy duty equipment as opposed to buying them, which involves high capital infusion.
    • Boom lifts are the most preferred types of aerial work platform owing to their ability to traverse great heights as well as their ability to navigate through potentially unreachable areas.

Key Factors Shaping the Aerial Work Platforms Market

Revaluation and Review of Safety Standards Driving the Market Growth

The substantial restructuring that has taken place in the recent past in the aerial work platforms market has led to several regulatory bodies and governments place greater emphasis on safety standards. This, in turn, has led to the subsequent ban or voluntary elimination of the use of risky ropes or traditional scaffolding methods.

However, the case is different in developed economies such as North America and Europe, where the adoption of aerial work platforms is hassle free. In addition, revaluation and review of safety standards by regulatory bodies such as OSHA and their affiliates are restoring the confidence of consumers and thereby, encouraging the use of aerial work platforms.

Infrastructure Improvement Activity Propelling the Growth of the Market

Rise in the migration of population from rural to urban areas, coupled with large crowds of floating population have led to the increasing demand for infrastructure improvement and renovation, including segments such as residence and public services. The growing construction industry, which is a result of such developments is expected to boost the growth of the aerial work platforms market.

In addition, the maintenance of high rise buildings and public service infrastructure such as airports, elevated rail corridors, etc., also use aerial work platforms and thus, is likely to propel the growth of the market.

Switch from Traditional Maintenance Practices to AWPs Driving the Market Growth

In developing regions including South Asia and Latin America, there has been a growing trend wherein, manufacturing industries and commercial, and construction industries are beginning to deploy aerial work platforms instead of traditional methods such as scaffolding, which were used for work at great heights. This can be attributed to the safety benefits and the faster pace of work completion, which is offered by these equipment. The aforementioned factors are boosting the growth of the aerial work platforms market.

aerial work platforms market analysis

Aerial Work Platforms Market Structure Analysis

  • The global aerial work platforms market is fairly consolidated and big players in the market command more than 50% of the global market share. The barrier for entry in this market is also low and as a result, several small players have started making a foray into the market.
  • The aerial work platforms market is relatively moderate in size due to the high initial investment required to be made in procurement of manufacturing equipment.
  • Prominent manufacturers of aerial work platforms are currently diverting a majority of their yearly budget towards R&D and new product launches to keep pace with the rapidly changing technology. The other major factor, which is being considered is the adoption of cleaner and emission free drive systems.
  • Manufacturers of aerial work platforms are also focusing on widening their product portfolio so as to provide customers with a wider choice of products that will meet their specific needs.
  • To gather a wider global penetration in smaller countries where local players are prominent, big manufacturers are likely to deploy inorganic growth strategies through mergers and acquisitions.
  • Big market players need to divert their attention to focus on global untapped markets and strategically locate their manufacturing and distribution facilities in untapped markets with high market potential to gain a prime mover advantage. 

Delivering ‘Sustainable’ Bi-energy and Battery-driven Solutions

Owing to legal barriers concerning environmental safety, the hybrid or bi-energy and battery-driven AWPs including hybrid scissor lifts and slab scissor lifts, are finding a lot of favor with various industrial applications. The hybrid aerial work platforms, propelled by both diesel and electricity, are more efficient as they enable operations inside and outside of the jobsite and produce lesser noise than their diesel counterparts. They exhibit eco-friendly characteristics, for instance, tackling the possibility of hydraulic discharges by negotiating high flow hydraulic circuit.

The lithium-ion battery-powered aerial work platforms allow faster refueling anywhere as they do not produce gas releases and acid leakages, eliminating the need of separate recharging chambers. The hybrid and battery-fueled AWPs operate with better capacity in rough settings and are lightweight, allowing easy and cost-efficient transportations. Furthermore, electric-powered aerial work platforms purge the need of diesel engines, accounting for about a third of total costs, tapering operational expenses.

North America Maintains the Lead, Followed by Europe

North America is likely to continue its hegemony in the global aerial work platform market throughout the foreseeable period, followed by Europe. Governments in Europe and the US are instructing end-use verticals to shift to environment-friendly alternatives, for instance, battery-driven aerial work platforms, to tackle carbon footprint. Some Europe-based manufacturers are launching automated solutions, such as self-driven scissor lifts, to counter rising manpower expenses. Companies are seeking established rental AWP providers in countries, including the US and the UK, owing to lesser initial and operational budgets.

* This data is only a representation. Actual data may vary and will be available in report.

North America Maintains the Lead, Followed by Europe
North America Maintains the Lead, Followed by Europe
North America Maintains the Lead, Followed by Europe
North America Maintains the Lead, Followed by Europe
  • 2014
  • 2018
  • 2022
  • 2029
  • Arrow

Battery-powered AWPs to Dictate Stakeholders’ Strategies

The global aerial work platforms market is highly consolidated, with the prominent market players accounting for about 3/4th of the total market share. Emerging manufacturers are producing fully electric aerial work platforms with battery alternatives, for instance, lithium-ion, for faster charging and improved durability. Leading market actors are employing hydraulic energy recovery systems (HERS) to utilize the unused fuel during normal working to refuel the lithium battery, thereby, lowering the fuel consumption and refueling expenses. Key market players are decreasing the costs of aerial work platforms to penetrate into developing and under-developed ASEAN countries, including Thailand, Cambodia, and others. Further, manufacturers are providing trained operators with AWPs to remove dust and other particles accumulated on plant roofs, produced during manufacturing processes, thereby, facilitating regular cleaning.

Boom lifts remain top selling

Scissor lifts to gain traction

 

Rental AWPs witnessing exponential demand

New AWP sales escalating

 

How Growth will Unfold

The global aerial work platform market is anticipated to witness moderate growth amidst the lack of standardization of legal policies in several regions, and high purchasing & maintenance expenses. Significant surge has been observed in construction activities, for instance outdoor washing and painting, and maintenance of existing infrastructural assets. Licensed non-banking financial companies (NBFC) in emerging economies of South Asia, including India among others, are providing loans and monetary aids at relatively lesser costs. Aerial work platforms have been gathering momentum across European countries, including the UK, and Austria among others, on account of rising labor costs, replacing AWPs with mobile-elevated work platforms (MEWP). 

However, Asian countries, such as India and ASEAN economies, are still relying on traditional bamboo and metal scaffolding for major and minor repairs, owing to high costs of aerial work platforms, for instance, scissor lifts. Policy-makers in regions other than North America and Europe have introduced inept environmental and labor safety regulations, letting end users to continue leveraging diesel-driven AWPs and conventional ladders and towers.

 Aerial Work Platforms Market

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Aerial Work Platforms Market: Global Industry Analysis 2014-2018 & Opportunity Assessment Analysis 2019-2029

A recent market study published by FMI on the aerial work platforms market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029. The report delivers a comprehensive assessment of the most important market dynamics. The report has been prepared after conducting a thorough research on the historic as well as current growth parameters of the aerial work platforms market.

Aerial Work Platforms Market Taxonomy

The global aerial work platforms market is segmented in detail to cover every aspect of the market.

By Product Type

  • Scissor Lifts
  • Boom Lifts
  • Other Aerial Work Platforms (AWP’s)

By End-use Industries

  • Rental Service Providers
  • End Use Industries
    • Construction
    • Entertainment
    • Commercial
    • Manufacturing
    • Others (Public Administration, Agriculture, Mining, etc.)

By Region

  • North America
  • Latin America
  • Europe
  • Middle East & Africa (MEA)
  • South Asia
  • East Asia
  • Oceania

What's Included

This section includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends related to the aerial work platforms market.

This section intends to help readers by providing them with basic information regarding the aerial work platforms market. In addition, a comprehensive information about aerial work platforms and their properties are provided in this section.

The key market trends of the aerial work platforms market report are provided in this section, which are estimated to significantly impact the market growth over the forecast period.

This section highlights the key strategies adopted by market participants to achieve success in the aerial work platforms market.

This section lists and explains the major market shapers. An analysis of the installed base of aerial work platforms and an analysis of the cost structure of aerial work platforms with a list of different components is included in this section.

This section provides the reader with an explanation and list of the key market drivers, restraints/challenges adversely impacting the market, major trends that are likely to affect the growth of the market, and market opportunities that can be capitalized by market participants.

This section provides the reader with a basic market overview and introduction with respect to the global aerial work platforms market. It also provides the reader with a side-by-side comparison of the previously forecasted market and the revised market forecast.

Based on the product type, the aerial work platforms market is segmented into scissor lifts, boom lifts, and other aerial work platforms. In this section, readers can find introductory information including a snapshot and product type comparison chart.

Based on the ownership, the aerial work platforms market is segmented into rental service providers and end-use industries. The end-use industries segment is further divided into construction, entertainment, commercial, manufacturing, and others.

This chapter explains how the aerial work platforms market will grow across several regions such as North America, Latin America, Europe, Middle East & Africa, South Asia, East Asia, and Oceania.

This chapter includes a detailed analysis of the growth of the North America aerial work platforms market, along with a country-wise assessment that includes the U.S. and Canada.

This chapter includes a detailed analysis of the growth of the Latin America aerial work platforms market, along with a country-wise assessment that includes Brazil, Mexico, and the Rest of Latin America.

This chapter includes a detailed analysis of the growth of the Europe aerial work platforms market, along with a country-wise assessment that includes Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, and the Rest of Europe.

This chapter includes a detailed analysis of the growth of the MEA aerial work platforms market, along with a country-wise assessment that includes GCC Countries, Turkey, North Africa, South Africa, and the Rest of MEA.

This chapter includes a detailed analysis of the growth of the South Asia aerial work platforms market, along with a country-wise assessment that includes ASEAN, India, and the Rest of South Asia.

This chapter includes a detailed analysis of the growth of the East Asia aerial work platforms market, along with a country-wise assessment that includes China, Japan, and South Korea.

This chapter includes a detailed analysis of the growth of the Oceania aerial work platforms market, along with a country-wise assessment that includes Australia, and New Zealand.

In this section, readers can find a summary of the findings with respect to the competition development, market positioning of key players, their market footprint, regional tier structure analysis, global tier structure analysis, market value share analysis, and a competition analysis dashboard. Companies that are profiled in this report are Terex Corporation, Haulotte Group, Oshkosh Corporation, Linamar Corporation, Tadano Limited, Aichi Corporation, MEC Aerial Work Platforms, Palfinger AG, Hunan Sinoboom Heavy Industry Co. Ltd., Zhejiang Dingli Machinery Co. Ltd., Manitou Group, Mantall Heavy Industry Co. Ltd., Noblelift Intelligent Equipment Co. Ltd., IMER International SpA, and JC Bamford Excavators Limited.

This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the aerial work platforms market report.

This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the aerial work platforms market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current market dynamics and challenges
  • Yesteryear trends 
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

 

Secondary Research

  • Industry Publications
    • IPAF
    • KHL
    • Association of Equipment Manufacturers (AEM)
    • Japan Construction Equipment Manufacturers Association
    • China Construction Machinery Association
    • Aerial Platform Association of India
    • Scaffold Industry Association
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications

 

Primary Interview Splits

Primary Interview Splits aerial work platform market split by designations

Primary Interview Splits aerial work platform market split by stakeholders

Aerial Work Platforms Market Reports - Table of Contents

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