The AWP industry has been affected due to the halt of major infrastructure development projects around the world in the first half of 2020 due to the spread of COVID-19. During the first two quarters of 2020, companies such as JLG and Genie temporarily shut down production plants in multiple locations around the world. Industry players have reduced their workforces to focus on critical activities and align supply and demand. However, several grants, subsidies, and tax incentives provided by governments to local manufacturers are poised to sustain the Aerial Work Platforms market statistics till 2028.
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Scissor lifts are gaining popularity in the AWP market due to their flexibility and low operational complexity. These machines are very flexible as they can be used in various environmental conditions, thus serving as an alternative to conventional scaffolding and working towers. In general maintenance activities, scissor lifts are used to perform routine maintenance, light changing and repair activities, which provide more safety compared to ladders and scaffolding.
the Asia Pacific Aerial Work Platform Market is expected to register a high growth rate from 2022 to 2028, driven by rising construction activities in emerging economies such as China, South Koreaand India. The rise of industrialization and the role of local AWP distributors are the main factors contributing to the market demand. In addition, the construction of smart cities, the proliferation of 5G and the construction of manufacturing facilities in Asia Pacific countries will create more opportunities for market players.
Industry players are focusing on partnerships and acquisition strategies to gain a competitive advantage over their rivals. For example, in August 2020, Dinolift Oy has partnered with Ahern Ibérica, a distributor of AWP machines, for the sale of products. This partnership allowed Ahern to sell Dinolift machines in Spain and Portugal. This has helped the company to strengthen its market position in these two countries.
Some of the key findings of the Aerial Work Platform (AWP) Market report include:
- The market is growing owing to the growing need for improved telecommunications facilities and the transformation trends of public infrastructure across the globe.
- The increased use of high-speed internet connectivity and mobile telephony in developing countries explains the development of robust telecommunications, which further drives the demand for AWP.
- Equipment with platform heights of 10 to 20 meters is expected to hold a large share; this can be attributed to the increased requirements for maintenance, glazing and cleaning work at commercial sites.
- The high initial and maintenance costs associated with new platforms primarily drive customers to lease hardware. Another reason to rent AWPs is to reduce transportation time and costs.
- Some of the key companies in the aerial work platform market include Hunan Sinoboom Heavy Industry Co., Ltd., Hunan Runshare Heavy Industry Company Ltd., Aichi Corporation, Haulotte Group, Zoomlion Heavy Industry Science and Technology Co., Ltd., Manitou Group, JLG Industries, Genie, Niftylift Limited. and Skyjack.
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Partial chapters of the table of contents (TOC) of the report:
Chapter 2 Executive Summary
2.1 360° Aerial Platforms Market Overview, 2017- 2028
2.1.1 Trade trends
2.1.2 Product trends
2.1.3 Type trends
2.1.4 Platform height trends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Industry Overview
3.2 Impact of COVID-19 on the AWP Industry Landscape
3.3 Industry Ecosystem Analysis
3.4 Investment Landscape
3.5 Technology and innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Drivers of growth
22.214.171.124 Proliferation of construction projects around the world
126.96.36.199 Significant developments in lifting platforms
188.8.131.52 Rise of smart city projects around the world
184.108.40.206 Emerging Boom Lift Rental Service Providers in MEA and Asia Pacific
220.127.116.11 Increased investment in infrastructure maintenance activities Europe and North America
18.104.22.168 Strong urbanization in Asia Pacific and Europe
22.214.171.124 Progress in Mining and Construction Industries Latin America
3.7.2 Industry Pitfalls and Challenges
126.96.36.199 Lack of availability of qualified technicians and operators
188.8.131.52 High maintenance costs of AWPs
184.108.40.206 High initial purchase cost of MEWPs
3.8 Analysis of growth potential
3.9 Porter’s analysis
3.10 PESTEL analysis
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