Aerial Work Platforms Market

2020 Analysis and Review: Aerial Work Platforms Market by Product Type - Scissor Lift, Boom Lift, Vertical Mast, and Push Around AWP for 2020-2030

  • 2020-06-11
  • REP-GB-1797
  • 40 Tables
  • 110 Figures
  • 268 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Aerial Work Platforms Market

This study offers a comprehensive, 360 degree analysis on the Aerial Work Platforms market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Aerial Work Platforms market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Aerial Work Platform Market Outlook & Key Findings

  • Aerial work platform market is likely to exhibit growth over 4.2% during the forecast period ( 2020-2030)
  • Machine use index has risen by 15%-17% in quarter two of 2020, showcasing strong recovery of industrial and construction equipment in the COVID-19 crisis
  • Europe accounted for 23% of market share in 2020. Currently, Europe is witnessing double digit utilization rates of aerial work platforms
  • In North America and Europe, aerial work platforms with lesser height dimensions are seeing higher utilization for general repairs and maintenance

Aerial Work Platform Market Size and Analysis

The aerial work platform market is set for strong revival amidst the COVID-19 crisis with a sharp uptake across Europe which saw its disease curve flattening. Analysts at Future Market Insights opine that the market is forecast to witness steady single digit growth on the back of accelerated construction activity and investments in research and development.

Many stakeholders are now hedging their bets on the high growth of utilities infrastructure, especially the proliferation of 5G. Even before the pandemic, the market was moving away from traditional hubs of Europe and Americas; in the post COVID-19 era, China, South Korea, Japan, and India are likely to become more lucrative for aerial work platform manufacturers.

Aerial Work Platform Sales: Rental Imports Scale up by 25%

Growth within the aerial work platform market is characterized by leasing and renting of access equipment such as articulated boom lifts, scissor lifts and boom lifts.

Construction companies are leveraging this trend as a cost-effective strategy to supplement their existing fleet of lifts or to handle short-term projects. Buoyed by the rampant demand for rented aerial work platforms, small, medium and large scale companies are relying extensively on imports. For instance:

  • Haulotte, a major French aerial work platform manufacturer has developed financing solutions for construction companies. These include operating lease and finance lease for renting aerial work platforms
  • NESCO, a utility equipment rental company maintains one of its largest rental fleets in North America and also provides services for fast diagnosis and repair
  • Ashtead, a rental company with its networks in US, UK and Canada is providing rental services of aerial work platforms aimed at a range of applications such as positioning,  dredging and cutting

The last five years saw imports scaling up by at least 25% from the year 2013. While emerging countries such as India are hotbeds for opportunities in the rental space, poor legislation with regard to worker safety continues to be an impediment with regard to growth of rentals in these countries.

Major construction companies in these countries are leasing elevated work platforms on account of lower rental rates with better prospects for financial and after sales solutions.

Aerial Work Platform Consumption Pattern – Boom Lifts to Capture More Than Half of Market Value

According to the latest analysis by Future Market Insights, boom lifts will remain highly sought-after during the forecast period and will account for more than half of the market value. Amongst these, the utilization of electric boom trucks will gain impetus on back of their high suitability in operations requiring excessive movement.

Scissor lifts on the other hand are unidirectional in movement and the ones suited for rough terrain offer a maximum of 60 feet elevation. With frequent maintenance, scissor lifts are relatively cost-intensive. Vis-a vis boom lifts, scissor lifts are seeing a lower uptake as capital and operational costs for these lifts is more. Thus they are witnessing higher adoption in the rental landscape

Under the ambit of construction activity, cherry pickers are soaring on popularity on back of their multi-directional usage, thus making them ideal for repair and maintenance work at construction sites

Aerial Work Platform Market Trends to Renew Emphasis on Safety and Autonomy

Advancements in telematics, aerial technology innovations, and new safety standards are governing the aerial work platform market landscape.

From the safety perspective, anti-entrapment systems are gaining rapid traction on compact lifts and equipment. These are specifically used in the construction sector where risk is highest.

Remote access and diagnostic systems for aerial work platforms are majorly upping the efficiency and troubleshooting quotients of OEMs. Discreet tasks are also being made more autonomous in order to enhance productivity.

Many stakeholders are exploring the online option for putting out their boom aerial lifts and scissor lifts along with a free subscription. With a paucity of service techs, customers can access all the relevant information with regard to the rental company online or through telematics thus helping rental companies save on maintenance requests.

Manufacturers Investing in Electric Drive and Efficient Battery Technology to Increase their Market Share

Manufacturers of scissor lifts are keenly exploiting the benefits of electric drive in lieu of hydrostatic drive which is set to deliver marked improvements in terms of duty cycles.

Conventionally, hydraulic drives utilized a lot of time in pumping fluids to the hydraulic drive motors. With the introduction of electric drive, efficiency levels can go up by 65%, a significant spike from the erstwhile 30%.

For instance: Dana Incorporated, an American player in the automotive industry has accelerated its hybrid and electrically powered construction in its aerial work platforms. It has introduced electric drivetrain solutions into its engines.

Wringing out more duty cycles from smaller battery packs are slowly translating to greater efficiency, longer run time for the aerial work platform and significantly lower costs.

 Cost savings accrued from small battery packs have been as much as $250. For instance JLG Industries, Inc an American designer and manufacturer of access equipment is supplying 3.66M to 18.29M scissor lifts and boom lifts which have smaller battery sets having longer run-time and higher productivity. To add to these manufacturers are also making boom lifts and scissor lifts with part elimination, lighter alloys and downsizing of hydraulic reservoirs.

Aerial Work Platform: Regional Analysis

India and China will continue to be the most lucrative markets for aerial work platforms. The India aerial work platform market has steadily shown hefty annual growth rates, with growth pegged at 8% in 2020.

In SEA and Pacific countries, state and private steel producers, airports and building maintenance companies are rapidly migrating from their manual and regular maintenance practices and using aerial work platforms against the backdrop of infrastructure modernization.  For instance:

  • Genie, a Terex Corporation brand, with its presence in South East Asia, provides an array of aerial equipment such as trail mounted boom lifts, rough terrain scissor lifts and vertical mast lifts
  • Similarly, Manlift operates in a large number of countries extending from Middle East to South East Asia and is primarily focused on the aerial work platform rental market

The European Aerial Work Platform market, accounted for nearly one-third of the global aerial work platform sales in 2019.

Both Europe and North America are generating high demand for aerial work platforms on back of high equipment renewal in these regions. More stringent legislations with regard to worker safety and high labor costs have made North America and Europe early adopters of aerial work platforms. With greater penetration rates, the market is more mature.

Aerial Work Platform Market Manufacturers

The aerial work platform market place is governed by Tier 1 and Tier 2 players owing to their strong presence across diverse regions and proclivity of rental companies towards inclusion of branded products in their fleet.

Some of the leading market players with a global stronghold are Terex Corporation, Linamar Corporation, JLG Industries, Inc., Haulotte Group, Toyota Industries Corporation (Aichi), J C Bamford Excavators Ltd., Oshkosh Corporation, Tadano Limited, Palfinger Ag, Zhejiang Dingli Machinery Co., Ltd, Manitou Group and IMER International SpA

Most of the manufacturers are focusing on price reduction strategies in the current pandemic whilst focusing on quality, strength and high durability of their products.

For instance, Skyjack, an offshoot of Linamar Corporation, launched a brand new range of scissor lifts designed especially for rough terrain. These boast of better working heights and larger platform spaces.

Skyjack has also launched the ELEVATE telematics solution which enables scissor lifts to directly respond to commands given over the phone or a mobile phone network and perform tasks independent of lifting, driving and steering.

Similarly Genie® booms, a product of Terex Corporation are leading the way in hybrid technology which allows it to run on any fuel; this also offers the flexibility of offshore disposal with minimal stipulations. It also has the maximum capacity in terms of poundage, making it ideal for heavy-duty industrial operations.

Whilst Terex clocked net sales of US$1 Bn in Q3 of 2019, the ongoing pandemic has softened the environment for construction and industrial activity thus declining the demand for aerial work platforms and putting pressure on sales.

Linamar Corporation is also extending ramped-up production support to ventilator companies and streamlining its supply chain operations in a bid to expedite delivery of critical PPE.

Aerial Work Platform Market – What does the Future Hold?

The long-term outlook on aerial work platform market remains bullish, with FMI’s analysis estimating revenues to grow at 5% consistently. Scissor lifts and boom lifts will remain the top-sellers across categories.

North America holds a lot of optimism for the aerial work platform market. With viral trajectory shifting from US, market players are aggressive in their pursuit in capturing value within this region.

Presently, companies are focusing on partnering with strategic distributor dealerships for businesses in the rental space. Distributors would help to support the market in various regions. Post pandemic, the learning curve will be much steeper for rental companies. Market demand for light-weight and durable aerial work platforms will increase.

Advancements in sensor technology will lead to better solutions towards worker safety as these solutions help to optimize work environment.

A recent market study published by FMI on the aerial work platform market includes global industry analysis 2015-2019 & forecast 2020-2030 and offers a comprehensive assessment of the important market dynamics. After conducting a thorough research on historic as well as current growth parameters of the aerial work platform market, growth prospects of the aerial work platform market are obtained with maximum precision.

Market Taxonomy

The global aerial work platform market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

By Product Type

  • Scissor Lift
  • Boom Lift
    • Telescopic
    • Articulating
    • Trailer Mounted
    • Self-Propelled
  • Vertical Mast
    • Double Mast AWP
    • Single Mast AWP
  • Push Around AWP

By Ownership

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

By Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

Report Chapters

Chapter 01 – Executive Summary

The report on commences with the executive summary of the aerial work platform market, which includes a summary of the key findings and key statistics of the market. It also includes the market value (US$ million) estimates of prominent segments of the aerial work platform market.

Chapter 02 – Market Overview

Readers can find detailed taxonomy and definition of the aerial work platform market in this chapter, which will help them understand the basic information about the aerial work platform market. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the aerial work platform market report.

Chapter 03 – Key Market Trends

The report provides key market trends of the aerial work platform market that are expected to significantly impact the market growth during the forecast period. Detailed industry trends are provided in this section, along with key market developments and product innovations.

Chapter 04 – Key Success Factors

This section includes key inclusions of the aerial work platform market report. It includes product adoption & usage analysis, reimbursement scenario, pipeline assessment & opportunity analysis, and strategies of manufacturers for the market expansion.

Chapter 05 – Market Background

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.

Chapter 06 – Global Aerial Work Platforms: Market Dynamics

This chapter explains the key macro-economic factors that are expected to influence the growth of the aerial work platform market over the forecast period. Along with macroeconomic factors, this section highlights the opportunity analysis for the aerial work platform market. The chapter also provides information about COVID -19 Impact on the market and Assessment of how the spread of pandemic to curb the market growth. This chapter also highlights the key market dynamics of the aerial work platform market, which includes the drivers, restraints, opportunities, and trends. Moreover, readers will understand the key trends followed by the prominent manufacturers in the aerial work platform market.

Chapter 07 – Global Aerial Work Platform Market Demand (volume in units) Analysis 2015-2019 and Forecast 2020-2030

This section of the aerial work platform market explains the global market volume analysis and forecast for the Aerial Work Platform market between the forecast periods of 2020-2030

Chapter 08 – Global Aerial Work Platform Market Pricing Analysis

This section highlights the average price analysis of various aerial work platforms on the basis of product types considered in the study such as boom lift, scissor lift, vertical mast and push around AWP.

Chapter 09 – Global Aerial Work Platform Market Demand (Value in USD Mn) Analysis 2015-2019 and Forecast 2020-2030

This section of the aerial work platform market report explains the global market value analysis and forecast for the aerial work platform market during 2014-2029 is highlighted in this section. This chapter includes detailed analysis of the historic aerial work platform market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019-2020) and an incremental $ opportunity for the forecast period of 2020-2030.

Chapter 10 – Global Aerial Work Platform Market Analysis 2015 - 2019 & Forecast 2019 – 2029, by Product Type

Based on the product type, the aerial work platform market is segmented into Scissor Lift, Boom Lift, Vertical Mast and Other AWPs. In this chapter, readers can find information about key trends and developments in the aerial work platform market and market attractiveness analysis based on the product type.

Chapter 11 – Global Aerial Work Platform Market Analysis 2015 - 2019 & Forecast 2020 - 2030, by Ownership

This chapter provides details about the aerial work platform market on the basis of Rental Service Providers and End Use Industries. In the end use industries, market is further categorized into Construction, Entertainment, Commercial, Manufacturing, Others (Public Administration, Agriculture, etc.) In this chapter, readers can understand the market attractiveness analysis based on the Ownership.

Chapter 12 – Global Aerial Work Platform Market Analysis 2014 – 2018 & Forecast 2020 - 2030, by Region

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

Chapter 13 – North America Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 14 – Latin America Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 15 – Europe Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 16 – Middle East & Africa (MEA) Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 17 – South Asia Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 18 – East Asia Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 19 – Oceania Aerial Work Platforms Market Analysis & Forecast

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.

Chapter 20 – Competition Landscape

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.

Chapter 21 – Assumptions and Acronyms

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.

Chapter 22 – Research Methodology

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.

Sources and Primary Research Splits (%)

Industry Interactions

  • C - Level Executives
  • Marketing Directors
  • Product Managers
  • Business Development Officers
  • Production Managers
  • Procurement Heads
  • Sales Executives

Primary Interview Splits split by designations aerial work platforms market

References Catalogue

  • Industry Publications
    • IPAF
    • 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

 

 

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