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By 2031, boom lifts will create more than $2.5 billion opportunities for manufacturers of aerial work platforms

Fact.MR's latest research report provides reliable data on various factors affecting the growth of the aerial work platform market. It reveals various trends and opportunities that affect the demand for products and end-use industry leading market segments.

New York, October 29, 2021/PRNewswire/--According to the latest data released by leading market research and competitive intelligence provider Fact.MR, the aerial work platform (AWP) market is expected to reach $9.3 billion in 2021. 2021. With increasing attention to the expansion of global infrastructure, the entire market is expected to grow at a compound annual growth rate of 6% between 2021 and 2031, and will exceed a valuation of 16.6 billion USD by the end of 2031.

The growing demand for AWP in various industries such as construction, mining, transportation and logistics, aerospace, and defense will contribute to the growth of the market. Aerial work platform is a kind of mechanical equipment used to provide temporary access for personnel and equipment, usually located at high places. They are usually used for temporary and flexible visits in maintenance and construction work or emergency visits by firefighters.

Sometimes they provide other functions besides transportation and access. For example, they can be equipped with electrical sockets or compressed air connections for power tools.  

Increasing worker safety issues around the world are becoming a catalyst for the rapid growth of the AWP market. Working at heights remains the biggest cause of death and serious injury in labor-intensive industries. AWP is an ideal alternative to ladders and scaffolding, allowing workers to complete tasks at high altitude without any risk.

According to the National Institute of Occupational Safety and Health (NIOSH) and the Centers for Disease Control and Prevention (CDC), more than 500,000 people in the United States receive treatment each year, and more than 300 people die from ladder-related injuries. In addition, the country recorded 113 deaths and 34,000 non-fatal injuries caused by work-related ladder fall injuries in 2011.

The introduction of advanced technologies such as tilt sensors and automatic self-checking instruments into AWP is revolutionizing the market. Manufacturers have been committed to the development of smart AWP to reduce the risk of accidents and improve the overall performance of the equipment.

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For example, in August 2021, Toyota Material Handling Corporation of Japan developed the SEnS operator assistance system, which can detect and distinguish pedestrians and objects behind forklifts, and automatically control the driving speed and prevent the truck from backing up.

Construction remains the most attractive end-use industry for AWP. Rapid population growth and urbanization are encouraging countries to develop private and public infrastructure. Therefore, the demand for AWP is expected to increase during the forecast period.

According to the report, the boom lift will continue to be the most popular product due to its versatility and flexibility. During the forecast period, the growth in sales of cantilever lifts will create an incremental opportunity of $2.5 billion. These elevators can be used in a variety of applications, from utilities and construction to manufacturing and storage.

“Increased investment to expand public and private infrastructure, especially in developing regions, will create a lot of opportunities for major market players. In order to increase sales, AWP manufacturers are focusing on the production of hybrid and electric systems,” Fact said .MR analyst.

The key points of aerial work platform market survey

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Major companies operating in the aerial work platform market are focusing on the development of new AWPs with additional features. They have adopted various strategies such as mergers, partnerships, establishment of new facilities, and integration of new technologies into the system to gain a competitive advantage in the global market.

Some of the main players operating in the aerial work platform market introduced by Fact.MR are:

More insights on the sales prospects of global aerial work platforms

Fact.MR conducted a fair analysis of the aerial work platform market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031. The research reveals convincing insights into the global demand for aerial work platforms, with detailed breakdowns based on the following:

Key issues covered in the aerial work platform market outlook report

Explore Fact.MR's report on the industrial products field——

Forklift working platform market-Forklift working platform is usually used to lift or lift people to complete various tasks that must be completed at a specified height. Forklift working platforms provide the maximum support required in accordance with safety requirements, leading to high demand in all walks of life. For various reasons, including safety and operational efficiency, forklift working platforms are required. This is one of the driving forces for the increased demand for forklift working platforms. The development of new technology is helping suppliers to establish a strong influence in the forklift work platform market.

Aerial work platform truck market-The construction sector has increased demand for aerial work platform trucks. Due to the increase in new construction in developing countries, the global market for aerial work platform trucks is expected to increase in the near future. It is expected that the increase of urban and rural infrastructure renovation projects will meet the demand of the world's growing population, thereby bringing strong market potential for aerial work platforms. Aerial work platform trucks are used for aircraft maintenance and safety, so the demand for aerial work platform trucks comes from the aviation field.

Loading platform canopy market-Loading platform canopies are metal structures with elevated roofs that protect the loading and unloading activities of rail cars and trucks from elements. Product safety is provided by the loading platform awning. When the product is loaded and unloaded at the loading terminal, it can protect the product from adverse weather conditions. In areas with unpredictable weather, loading platform awnings are in great demand. Due to the growth of economic demand and the expansion of rail and road network connectivity between developing countries, rail and road cargo transportation is expected to grow rapidly, which will expand the market for loading platform awnings.

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