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The Global Aerial Work Platform (AWP) Market Growth Accelerated By Increased Construction Activities

Dhanesha Patil
 The Global Aerial Work Platform (AWP) Market Growth Accelerated By Increased Construction Activities

Aerial Work Platforms (AWPs), also known as aerial lifts or cherry pickers, provide an efficient and safe lifting solution for working at heights. Such platforms facilitate convenient performance of a variety of construction and maintenance tasks without the use of ladders or scaffolding. They allow users to access locations that are difficult to reach with traditional means and also provide flexibility of movement. Rising construction of buildings, bridges and other structures has amplified the demand for such platforms from rental service providers as well as end-use industries.

The global Aerial Work Platform (AWP) Market is estimated to be valued at US$ 40.95 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Electric and hybrid aerial work platforms have witnessed significant growth in recent times owing to the push for sustainable construction practices and reduction of carbon emissions. Hybrid and electric models provide emissions-free operation at ground level and reduced noise. Fleet owners have been replacing aging diesel fleet with zero-emission battery-powered models to meet sustainability targets. Several OEMs such as JLG Industries, Manitou Group, and Terex have launched new electric AWP models with features such as mobile charging and opportunity charging. Governments across EU, US and Asia Pacific have introduced incentives and subsidies for electric construction equipment to boost adoption. This shift towards electric and hybrid technologies is anticipated to remain a key trend in the aerial work platforms market over the forecast period.

Segment Analysis

The Global Aerial Work Platform (AWP) Market Analysis is dominated by the boom lifts segment due to its extensive usage in construction and manufacturing applications. Boom lifts have portable platforms used for elevating personnel to heights for construction, assembly, maintenance and repair purposes. The versatility of boom lifts allows workers to smoothly move up, down, extend and retract at heightened booms angle thus making them ideal for indoor and outdoor applications.

Key Takeaways

The global aerial work platform (AWP) market is expected to witness high growth over the forecast period of 2023 to 2030. The global Aerial Work Platform (AWP) Market is estimated to be valued at US$ 40.95 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis related content comprises Asia Pacific region currently commands over 35% of the global aerial work platform market share led by countries like China and India. Rising urbanization and increasing focus on infrastructure development is driving demand for AWPs across APAC countries. China represents the fastest growing regional aerial work platform market in Asia Pacific on account of the Chinese government's thrust on infrastructure expansion.

Key players related content comprises Key players operating in the aerial work platform (AWP) market are Quest Diagnostics, Eurofins Scientific, SYNLAB International, Sonic Healthcare, LabCorp, Unilabs, Lifelabs, Healthscope, Clinical Reference Laboratory, ACM Medical Laboratory. Quest Diagnostics and LabCorp are dominating the market share currently leveraging their wide network and service offerings across major regions.

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Dhanesha Patil
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