The global aerial work platform
(AWP) truck market is expected to reach USD 8.0 billion by 2022, according to a
new report by Grand View Research, Inc. Increasing government investment in
construction sector paired with growing concerns regarding worker safety is
expected to drive AWP truck industry growth over the coming years. Growing
emphasis on infrastructure development along with rising private investment in
real-estate may also spur product demand. In addition, increasing demand for
material handling, especially in manufacturing units and factories, is
anticipated to significantly fuel AWP truck market growth.
This equipment is primarily
used to elevate workers and equipment throughout the maintenance or
construction process. The developing telecommunication industry owing to
rapidly increasing smartphone users, particularly in Asia, may escalate aerial
work platform truck market demand. Industry growth can be attributed to strong
economic growth, especially in countries such as India, China, Brazil, and some
parts of Europe.
Technological advancements
resulting in the development of electrically or hydraulically propelled
elevating platforms in order to meet emission standards and cope with growing
environmental issues are also anticipated to favorably impact growth. Rising
demand application areas such as construction of wind, solar and other
energy-generation installations may drive revenue over the coming years.
In depth research report on Aerial Work Platform (AWP)
Truck Market
Further key findings from the study suggest:
·
Boom lifts market is poised for
high growth over the next six years owing to increasing usage of these lifts
for tricky architecture or smaller spaces with limited access. This can be
further attributed to the several benefits offered by these lifts such as
mobility, tight turning radius, standard oscillating axle, and compact design.
·
Construction applications
accounted for over 30% of the overall AWP truck industry in 2014, and are
expected to witness high growth over the forecast period. Growing
infrastructure development and private investment in real-estate are expected
to be key factors responsible for growth in this sector.
·
Telecommunication industry is
expected to exhibit high growth, which can be attributed to increasing number
of smartphone users particularly in Asia. Smartphone proliferation and the
associated need for improved telecom infrastructure for better connectivity are
expected to elevate demand in the telecommunication industry.
·
North America captured a
sizable share of the aerial work platform truck market in 2014, which can be
attributed to considerable technological advancements. In addition, increasing
maintenance and repair activities coupled with growing concerns and norms
regarding worker safety are further propelling product demand in this region.
·
Key industry players such as
Tadano, Aichi, Terex and Haulotte focus on automating manufacturing process so
as to improve product quality and reliability. Mergers & acquisitions also
form a part of core business strategy. Industry participants also emphasize on
mergers and collaborations as it helps in joint sales and marketing efforts and
product development.
Grand View Research has
segmented the global aerial work platform truck market on the basis of product,
end-use and region:
Aerial Work Platform Truck Product Outlook (Revenue, USD
Million, 2012 - 2022)
·
Boom Lifts
·
Scissor Lifts
·
Vertical Mast Lifts
·
Personnel Portable Lifts
Aerial Work Platform Truck End-Use Outlook (Revenue, USD
Million, 2012 - 2022)
·
Construction
·
Telecommunication
·
Transport & Logistics
·
Government
·
Others
Aerial Work Platform Truck Regional Outlook (Revenue, USD
Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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