Aerial Work Platforms Market Size was valued at USD 18.6 Billion in 2022. The Aerial Work Platforms industry is projected to grow from USD 20.27 Billion in 2023 to USD 40.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.00% during the forecast period (2024 - 2032).Growing infrastructural and construction activities, as well as growing retail and industrial unit counts, are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Aerial Work Platforms is being driven by the growing infrastructure and construction projects. A mechanical device or aerial work platform is sometimes referred to as an aerial machine, bucket truck, or mobile elevating work platform. It is designed to give people and equipment temporary access to places that are inaccessible, typically at a height. In order to provide an independent work platform, aerial work platforms are widely used for a variety of construction and maintenance tasks, including arboriculture.
Additionally, Construction, electric and telecommunication, retail, and other end-use industries are expected to grow at a faster rate than others due to the improving urban and rural infrastructure and government initiatives to provide technological facilities like telecommunication networks and electrical utilities to the world's fastest-growing populations in China, India, Bangladesh, Brazil, Indonesia, and the United States, among other countries. Due to the fact that many end-use sectors employ aerial lifts for both new construction and routine maintenance, it is predicted that this would raise the need for aerial work platforms. Airports utilize an enormous amount of boom and scissor lifts for aircraft cleaning and maintenance as well as for the placement and storage of luggage.
Storage and warehouse facilities are necessary in an effort to keep up a steady supply of goods and equipment, particularly for e-commerce and logistics enterprises. Keeping and storing the necessary goods helps to keep the inventory current and lessens material shortages. Growing e-commerce platforms are the main factors driving the expansion of warehouse spaces. A lot of scissors vertical and boom lifts are used in nearby storage and warehouse units to handle products and move them from one location to another in order to meet the shipping criteria that e-commerce giants have promised. These aerial platforms support simple material handling and bulk order lookup, as well as helping businesses keep their delivery commitments.
For instance, in December 2018, new rules were established by the American National Standards Institute (ANSI) that are applicable to all aerial lift operators, owners, and supervisors. These laws cover scissor lifts, boom lifts, and under-bridge inspection devices. By harmonizing North American equipment standards with international norms, these standards seek to enhance safety precautions. Thus, result in driving the Aerial Work Platforms market revenue.
The Aerial Work Platforms market segmentation, based on Product includes Boom Lifts, Scissor Lifts, and Vertical Lift. In 2023, the scissor lifts segment dominated the market. The scissor lift's small size, ability to load quickly, and high operational efficiency are what have contributed to this segment's rise. Scissor lifts are commonly used for vertical lifting and material positioning. Their ergonomic designs lower the risk of workplace injuries while increasing worker productivity.
The Aerial Work Platforms market segmentation, based on Propulsion Type, includes ICE, Electric, and Air. In 2023, the ICE category generated the most income. The market for lifts with diesel engines that are utilized for heavy-duty outdoor applications is mostly driven by this segment's growing demand. Because of its durability and ability to sustain harsh loads, these AWPs can climb higher and support heavier loads.
The Aerial Work Platforms market segmentation, based on Lifting Height, includes Less than 20 ft, 21-50 ft, and more than 51 ft. In 2023, the more than 51 ft segment dominated the market. Installing, inspecting, and maintaining wind turbines, as well as installing solar panels on rooftops and large-scale solar farms, need the use of aerial work platforms with lifting heights of more than 51 feet. A higher-capacity need for improved AWPs is being driven by the expanding renewable energy sector.
The Aerial Work Platforms market segmentation, based on Application, includes Construction, Utilities, Logistics & Transportation, and Others. In 2023, the construction category generated the most income. On construction sites, rough terrain aerial platforms are mostly used to access higher altitudes. These locations are vulnerable to worker accidents involving heights. Compared to traditional methods, AWPs provide workers and operators with enhanced safety and flexibility.
Figure 1: Aerial Work Platforms Market, by Application, 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Aerial Work Platforms market area will dominate this market. The fast-growing number of different business and residential complexes is the reason for this increase. Furthermore, it is anticipated that the IT and telecom industries in the United States and Canada would facilitate the use of AWPs for the installation of communication towers as well as high-altitude maintenance and repair activities.
Further, the major countries studied in the market report are China, Japan, India, Australia, South Korea, Brazil, Germany, France, the UK, and Italy.
Figure 2: Aerial Work Platforms Market Share By Region 2023 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Aerial Work Platforms market has the second-largest portion of the market. This is due to the growing quantity of projects aimed at transforming the infrastructure. Further, the German Aerial Work Platforms market had the biggest market share, and the UK Aerial Work Platforms market was the European market with the quickest rate of growth.
The Asia-Pacific Aerial Work Platforms Market is anticipated to expand between 2024 and 2032 at the quickest CAGR. This is because building is becoming more and more prevalent in emerging nations like China and India. Moreover, China’s Aerial Work Platforms market had the biggest market share, and the Indian Aerial Work Platforms market was the Asia-Pacific region's fastest-growing market.
Leading market players are putting a lot of money into R&D to broaden the range of their goods, which will fuel further growth in the market for aerial work platforms. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, the Aerial Work Platforms industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Aerial Work Platforms industry to help customers and expand the market segment. In recent years, the Aerial Work Platforms industry has provided some of the biggest benefits to medicine. Major players in the Aerial Work Platforms market, including Advance Lifts, Inc.; Altec Industries; Bronto Skylift; DINOLIFT OY; EdmoLift AB; HAULOTTE GROUP, AICHI CORPORATION, and others, are engaging in research and development activities in an effort to boost market demand.
American-based Terex Corporation produces lifting and material-handling equipment for use all over the world. Products that offer emission-free performance support renewable energy sources help recover reusable components from waste, and enable customers to lessen their environmental effects include electric and hybrid models. Terex operates throughout Asia Pacific, Europe, the Americas, and Australia. Terex sold under more than 20 consumer-facing names as of 2024. Over the years, Terex has developed through a number of internal start-ups, acquisitions, and divestitures. Today's corporate portfolio is shaped in part by these and other initiatives.
Linamar Corporation provides products to the MedTech, access, mobility, and agricultural sectors. The Industrial, Mobility, and eLIN operational segments comprise the organization. Within the Industrial segment are Skyjack, MacDon, and Salford; these companies produce equipment for agricultural harvesting, farm tillage, and crop fertilizer application, respectively, as well as aerial work platform equipment. The Mobility division manufactures systems and parts for both conventional and electrified cars, including drivetrains, body and chassis, engines, and transmission systems. It is split geographically into North America, Europe, and Asia Pacific. In December 2023, The family-run agricultural equipment producer Bourgault Industries in Saskatchewan agreed to be acquired by Linamar for $640 million.
AICHI CORPORATION
Advance Lifts, Inc.
Altec Industries
Bronto Skylift
DINOLIFT OY
EdmoLift AB
HAULOTTE GROUP
Linamar Corporation
MEC
RUNSHARE Heavy Industry Company, Ltd.
Terex Corporation
WIESE USA
Zhejiang Dingli Machinery Co., Ltd. (DINGLI)
August 2022: Zhejiang Dingli Machinery Co. Ltd., a company that designs and produces industrial lifts, introduced a new electric boom lift. Strong, adaptable, and long-lasting is this lift. It can carry heavy objects up to 196 meters in the air, giving it a great lifting capacity.
February 2021: HAULOTTE GROUP has introduced a 16-meter electric articulating boom lift with a working height for both indoor and outdoor uses, including industrial, maintenance, finishing, and reconstruction projects.
September 2020: Zhejiang Dingli Machinery Co, Ltd., a commercial firm in the machinery industry, introduced the JCPT2223RTB scissor lift, which boasts features like a large platform, high chassis, and huge weight capacity.
Boom Lifts
Scissor Lifts
Vertical Lift
ICE
Electric
Air
Less than 20 ft
21-50 ft
More than 51 ft
Construction
Utilities
Logistics & Transportation
Others
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 18.6 Billion |
| Market Size 2023 | USD 20.3 Billion |
| Market Size 2032 | USD 40.4 Billion |
| Compound Annual Growth Rate (CAGR) | 9.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Propulsion Type, Lifting Height, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | China, Japan, India, Australia, South Korea, Brazil, Germany, France, UK, and Italy |
| Key Companies Profiled | Advance Lifts, Inc.; Altec Industries; Bronto Skylift; DINOLIFT OY; EdmoLift AB; HAULOTTE GROUP; AICHI CORPORATION |
| Key Market Opportunities | Growing Infrastructure and Construction Projects |
| Key Market Dynamics | A Growing Amount Of Warehouse And Retail Spaces |
Frequently Asked Questions (FAQ) :
In 2023, the market for aerial work platforms was estimated to be worth USD 20.3 billion globally
From 2024 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 9.00%.
North America held the most market share worldwide.
The leading companies in the market are EdmoLift AB, Bronto Skylift, Advance Lifts, Inc., Altec Industries, AICHI CORPORATION, DINOLIFT OY, and HAULOTTE GROUP, among others.
In 2023, the market was dominated by the Scissor Lifts sector.
The ICE company held the biggest market share worldwide.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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