Aerial Work Platform (AWP) market is expected to exceed USD 16 billion by 2025; according to a new research report. (Source: Global Market Insights Inc.)
The rise in new construction activities & maintenance of existing infrastructure in several countries due to the trend of urbanization is driving the access equipment market growth. Government focus on providing enhanced worker safety and facilitating mechanized options for complex construction & industrial maintenance operations is creating a high machinery demand globally. Moreover, the increasing replacement of manual labor by new machinery in emerging economies including India and China to gain high operational efficiency and reduce work fatalities is developing the Mobile Elevated Work Platform (MEWP) market rapidly.
Personal portable lifts are gaining high popularity in the in-house and temporary maintenance & construction applications due to the ability to work on low access levels. They have low working heights compared to the boom & scissor lifts as they are utilized for lifting workers to limited heights in rooms & open spaces. The low access platforms are increasingly being deployed as alternatives to the conventional ladders & scaffoldings to ensure labor safety and flexibility to work in confined spaces. Additionally, due to compact design & less weight, the personal portable lifts offer easy transportation and less assembly time, further supporting the AWP market expansion.
Electric lifts are experiencing huge demands across the application sectors globally due to high focus of both customers & manufacturers on utilizing energy-efficient and low emission producing machinery. Equipment manufacturers are adopting product innovation strategies including electrification of the machine engines and developing electric-powered machinery, further adding up to the industry growth. Several government initiatives and legislation related to the use of low energy consuming products and reducing environmental pollution in construction & mining applications are contributing to the demand for electric lifts in the access equipment market.
In the AWP market, transportation & logistics applications are witnessing traction due to the use of the machinery in warehouse management and shipping & material handling activities. Huge warehouses in various industries require efficient utilization of the vertical & horizontal spaces to store goods. To support the storage demand, several managers & companies are deploying scissor lifts and personal portable lifts that facilitate them to use confined spaces for storage and increase management efficiency. With the use of scissor & boom lifts, workers in the transportation & logistics industry are offered with safe assembly, lifting & loading options compared to the conventional ladders, further supporting the MEWP market expansion.
The Asia Pacific AWP market is expected to rise at a rapid pace over the forecast time span owing to several construction & infrastructure expansion projects in several countries. The region also consists of several leading access platform manufacturers who facilitate low cost & advanced machinery for customers across China, Japan, etc. Asian countries are also witnessing the emergence of several rental providers who provide easy & cheap rental services to local customers, serving as a major driver for the access equipment market development.
The prominent manufacturers operating in the AWP market are JLG Industries, Inc., Niftylift, Terex Corporation, Aichi Corporation, Tadano, Skyjack, Manitou, Snorkel, Haulotte, and Altec. These companies are focusing on the development of energy-efficient & technically-developed machinery to gain a major MEWP market share. To enter the untapped markets, the players are adopting partnership strategies and developing distribution network with the regional companies.