Asia Pacific Aerial Work Platforms Market Size By Type (Scissors Lifts, Vertical Mass Lift), By Application (Garden Engineering, Municipal), By Drive Type (Electric, Hydraulic), By Geographic Scope And Forecast
Report ID: 63593|No. of Pages: 202
Asia Pacific Aerial Work Platforms Market Size By Type (Scissors Lifts, Vertical Mass Lift), By Application (Garden Engineering, Municipal), By Drive Type (Electric, Hydraulic), By Geographic Scope And Forecast
Asia Pacific Aerial Work Platforms Market Size And Forecast
Asia Pacific Aerial Work Platforms Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.
The Asia Pacific Aerial Work Platforms Market is primarily driven by the increasing demand for equipment rental services in the end-use industry. The spike in application across numerous industries is driving the market rapidly. The growing demand for aerial work platforms in the construction, mining, transportation and logistics, aerospace, and defense industries, among others, will continue to drive the growth of the market. The Asia Pacific Aerial Work Platforms Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Asia Pacific Aerial Work Platforms Market Definition
A transportable elevating work platform is often referred to as EWP or elevating work platform. It is a mechanical instrument that enables persons or goods to gain temporary access to difficult regions, usually at a height. It is typically utilized for construction and maintenance work, as well as by firemen in an emergency. They are normally designed to lift weights less than a ton while some have a larger safe operating load. Aerial work platforms, irrespective of the job, offer extra capabilities outside conveyance and access, such as helping with power outlets or air compressor connectors for power equipment.
There are different varieties of aerial work platforms, each with distinct characteristics that make them somewhat useful for specific uses. The primary distinction is in the driving mechanism that propels the suitable working environment to the appropriate place. AWP is most commonly found in the garden engineering, municipal, construction, oil and gas, and mining industries.
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Asia Pacific Aerial Work Platforms Market Overview
The developing infrastructure and increased demand for equipment rental services within the end-use sector are driving the market. The government’s increased significant investment in smart city initiatives has driven market expansion. Furthermore, rising consumer knowledge of the equipment’s cost-effectiveness is likely to drive overall market growth. Furthermore, the evolution of various rental companies in the Asia-Pacific region is critical to the growth of the market.
Moreover, the rise of smartphones and the resulting need for upgraded telecom infrastructure may have a favorable impact on industry demand over the predicted period. Certain constraints and hurdles are impeding the growth of the Asia Pacific Aerial Work Platforms Market. Factors such as the shortage of qualified operators and the increased price of access platforms limit market expansion in the Asia Pacific area.
Nonetheless, the use of aerial work platforms in rising skyscrapers and advancements in the telecommunications industry to carry out work in remote places are projected to benefit the Asia Pacific Aerial Work Platforms Market. The key elements boosting market expansion are consistent government policies and strong growth in the building, manufacturing, and retail sectors. According to the India Brand Equity Foundation, India will be the world’s third-largest building market by 2022.
Certain coordinated initiatives, like the Smart City Mission and housing for all, will almost certainly drive market expansion. The infrastructure sector received USD14.7 billion in 74 deals in 2019, accounting for 40 percent of total venture capital or private equity investment. This increases the need for heavy lifting devices, which are often employed in infrastructure projects to move goods to a certain height or level, and is projected to boost the Market.
Asia Pacific Aerial Work Platforms Market Segmentation Analysis
The Asia Pacific Aerial Work Platforms Market Is Segmented on the basis of Type, Application, Drive Type, And Geography.
Asia Pacific Aerial Work Platforms Market, By Type
• Scissors Lifts
• Vertical Mass Lift
• Personal Portable Lift
• Booms Trucks
Based On Type, The Market is segmented into Scissors Lifts, Vertical Mass Lift, Personal Portable Lift, and Booms Trucks. Asia Pacific aerial work platforms is segmented into the vertical mass lift, scissors lifts, personal portable lift, and booms trucks on the basis of type. The need for scissor lifts is projected to stay relatively high among the many types of aerial work platforms available on the market. As flexible devices are utilized by manufacturing, utilities, warehousing, and transportation industries, this segment will hold the largest market share and is anticipated to maintain its lead over the projection period.
Boom lifts may overtake scissor lifts as one of the major segments as they’re more adaptable. Boom lifts have a hydraulic arm that allows them to quickly maneuver around obstacles and reach higher heights than scissor lifts. Nevertheless, scissor lifts are projected to stay dominant during the projection period. Scissor lifts are ideal both for indoor maintenance and outside construction projects. Scissor lifts are favored in quieter working environments and are frequently powered by engines.
Asia Pacific Aerial Work Platforms Market, By Application
• Garden Engineering
• Municipal
• Oil & Gas
• Construction
• Mining
• Others
Based On Application, The Market is segmented into Garden Engineering, Municipal, Oil & Gas, Construction, Mining, And Others. During the forecast period, the worldwide Asia Pacific Aerial Work Platforms Market is predicted to develop due to the growing construction sector and urbanization.
Asia Pacific Aerial Work Platforms Market, By Drive Type
• Electric
• Hydraulic
• Pneumatic
Based On Drive Type, The Market is segmented into Electric, Hydraulic, and Pneumatic. Hydraulic lifts require little maintenance and are low-cost lifts; thus, the hydraulic lift category is expected to dominate the market by drive type.
Asia Pacific Aerial Work Platforms Market, By Geography
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
On the basis of Geography, The Asia Pacific Aerial Work Platforms Market is classified into Asia Pacific, China, Japan, India, and the Rest of Asia Pacific. Following the extraordinary COVID-19 outbreak, the Chinese government has prioritized the development of “new infrastructure,” like large transportation, urbanization, water conservation projects, and informational networks, which will result in increased infrastructure spending. As per FinanceAsia, approximately 31 Chinese provinces, autonomous areas, and municipalities have declared large infrastructure development plans for the next 5 to 7 years.
This will also ensure the consistent requirement for aerial work platforms. It is also predicted that transportation will continue to be a primary focus for investment over the next three to four years. As is well known, the transportation and logistics industries are among the primary end customers of aerial work platforms. Increasing spending on infrastructure development across the industry will thereby drive AWP demand in China.
Key Players
The “Asia Pacific Aerial Work Platforms Market” study report will provide valuable insight with an emphasis on the market including some of the major players such as TEREX, JLG, Aichi, Haulotte, Skyjack, Nifty lift, Manitou, Tadano, Bronto Skylift, Ruthmann, and Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
Key Developments
• February 2021 – HAULOTTE GROUP introduced an electric articulating boom lift which has a working height of 16m in February 2021 targeting both indoor and outdoor environments like maintenance, industrial, finishing, and reconstruction work.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST YEAR | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| KEY COMPANIES PROFILED | TEREX, JLG, Aichi, Haulotte, Skyjack, Nifty lift, Manitou, Tadano, Bronto Skylift, Ruthmann. |
| SEGMENTS COVERED | By Type, By Application, By Drive Type, And Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Industry Analysis Matrix
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