Skip to main content

Aerial Work Platform Market to Witness CAGR of ~4% Rise in Value Share During the Period 2019 - 2029

VALLEY COTTAGE, New York, /PRNewswire/ --  Future Market Insights (FMI), in its latest research study, investigates the aerial work platform market and presents actionable insights on its progress footsteps for the evaluation timespan of 2019-2029. As per the research study, the global aerial work platform market revenues reached ~US$ 8.3 Bn in 2018, and are projected to grow steadily at a CAGR of ~4 % during the forecast period.
Consistent surge in maintenance practices of infrastructural assets, including airports, window washing and repairing, and an increasing number of construction projects in metropolitan economies in developing regions are setting huge demand for AWPs in the landscape, suggests the report. In addition, stringent safety and environmental regulations will continue to avoid upcoming worker casualties and check diesel emissions, which is likely to encourage innovation that can negotiate credit squeeze and reverse the environmental impact of 21st century aerial work platforms.
Conventional methods of lifting equipment and maintaining industrial assets have been an affair of concern among the construction verticals of many countries. Realizing personnel welfare and resource preservation has motivated infrastructure and mining operators to turn to aerial work platforms. Key players are embracing self-propelled and energy-efficient technology to cater to the needs of end users.
Construction Workforce Shifting to Boom Lifts for Repair Works
FMI's report finds that boom lifts hold shares worth more than half of the global aerial work platform market value. Battery-driven boom lifts offer high flexibility, enabling movement around obstacles and access to compact areas, and the tiers of the boom lifts do not leave any mark. Electric boom lifts provide vertical elevation of more than 100 feet, and facilitate vertical and horizontal movements without disturbing the base and offer a 180-degree operation to reach areas behind the equipment. Furthermore, they are best fit for jobs that require excessive movement and can be coupled with other transporting vehicles, finding favor with the end users.
On the flip side, scissor lifts facilitate only unidirectional movement, i.e. upwards and the base requires constant adjustment accordingly. Some variants of scissor lifts, for instance, rough terrain scissor lifts, do not have non-marking tiers and offer a maximum of 60 feet elevation. Furthermore, scissor lifts are cost-intensive as they demand regular maintenance.
AWP Rental Service Providers Fetching More Customers Despite Steady Growth Trail
Both, the industrial end users and AWPs rental service providers are witnessing sluggish progress, with the latter slightly declining over the forecast timeframe, says FMI. Construction and commercial sectors hold substantial shares on account of rising building activities in developing and under-developed countries as well as manufacturing amusement sites for entertainment purposes.  Furthermore, the assets in construction and commercial verticals demand continuous and long-term maintenance, adding further to the expenses.
Customers from low and middle income countries (LMIC) are stumbling upon AWPs rental service provider companies for temporary purposes, owing to high initial investments and progressive maintenance costs of aerial work platforms, for instance, scissor lifts. These rental service providers facilitate users with tailored aerial work platforms sticking to the requirements of the job sites, such as articulated boom lifts, and rough terrain scissor lifts, among others.
More Related Press-Release –
About Us
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Contact UsMr. Abhishek Budholiya
616 Corporate Way, Suite 2-9018
Valley Cottage, NY 10989
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44(0)20-7692-8790
Sales: sales@futuremarketinsights.com

Comments

Post a Comment

Popular posts from this blog

Frozen Foods Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Frozen Foods Market has experienced a significant transformation in recent years and continues to be a prominent and dynamic segment of the global food industry. As we move into 2033, this market remains a crucial part of modern lifestyles, offering a wide variety of convenient and preserved food options for consumers. The growth of the Frozen Foods Market is fueled by changing consumer preferences, technological innovations, and an ever-increasing demand for convenient, time-saving, and nutritious meal solutions. In 2033, the Frozen Foods Market is expected to continue its upward trajectory, as more consumers seek the benefits of frozen products. This market encompasses an extensive range of items, from frozen vegetables and fruits to ready-to-eat meals, appetizers, and desserts. The versatility and extended shelf life of frozen foods have made them an essential staple in many households. Consumers are drawn to the convenience of having quick, easy-to-prepare, and
Post a Comment
Read more

Automotive Filters Market Share and Growth Factors Impact Analysis 2029

 The global automotive filters market is expected to experience significant growth over the forecast period, due to the increasing demand for advanced automotive systems and the rising demand for fuel-efficient and eco-friendly vehicles. Automotive filters are used to remove contaminants, such as dust, dirt, and debris, from the air, oil, and fuel in a vehicle. The market is segmented based on type, vehicle type, and region. Based on type, the market is divided into air filters, oil filters, fuel filters, and others. The air filter segment is expected to dominate the market, due to the increasing demand for advanced air filtration systems in vehicles. Based on vehicle type, the market is classified into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, due to the increasing demand for passenger cars and the increasing adoption of advanced filtration systems in passenger cars. Geographi
Post a Comment
Read more

Iris Biometrics Market Demand, Supply, Growth Factors, Latest Rising Trend and Forecast to 2032

 The Iris Biometrics Market stands as a testament to the ever-evolving landscape of biometric technology, offering a unique and highly secure method of identity verification and authentication. The iris, with its intricate and individualistic patterns, has captured the attention of both security experts and technology developers as a reliable means of confirming one's identity. This market has gained prominence across various industries, ranging from border control and law enforcement to access control systems in government institutions, corporate offices, and even consumer devices. The market's growth is fueled by the increasing need for robust identity verification solutions in a world where security breaches and identity theft are becoming more prevalent. Unlike traditional authentication methods such as passwords and PINs, iris biometrics offer a high level of security and accuracy, as the iris pattern is virtually impossible to replicate. The technology prov
Post a Comment
Read more