Global Aerial Work Platform (AWP) Truck Market is predicted to witness large scale expansion due to increasing amount of construction activities taking place all across the globe. Further, rising expenditure on public infrastructure in countries like Indonesia, Brazil, China and India are expected to contribute to the industry growth.Rising private investment along with renovation activities in regions of Europe and North America are predicted to positively affect global aerial work platform (AWP)truck industry size during forecast period. In addition to this, growing maintenance and deployment activities of transformers, street lights and power cables, can enhance industry demand substantially.
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Increasing use of these machines in construction and mining sectors due to risk at work, height and structural design complexity is projected to play main part in aerial work platform (AWP) truck market expansion. Increasing use for maintenance & repairs of high tension power lines, disaster management functions and military segment are predicted to propel machine demand. Also, event management is also projected to evolve as a profitable application field for the global industry. Inclusion of security features, ease of use and maneuverability are few of the key aspects predicted to drive industry demand during forecast timeline.
However, lack of consciousness about technology among workers can inhibit revenue growth. Also unavailability of authorized particular personnel to run aerial work lifts is predicted to impede global aerial work platform (AWP) truck industry expansion. Further, security concerns associated with lift device can be a threat to industry growth.
Global aerial work platform (AWP) truck industry is segmented into applications like logistics & transport, construction, government and telecommunications. Logistics and transport application segment is predicted to experience substantial expansion and heavy industry penetration. It was evaluated at more than $551 million for 2015. Rising demand for material handling in factories and production units is projected to contribute favorably towards segment growth.
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Construction segment contributed greater than 34.1% of total aerial work platform(AWP)market share for 2015 and projected to be evaluated more than $4.1 billion by end of forecast timeline. Growing infrastructural growth and big construction projects are predicted to boost the segment growth. Fast growing telecommunications segment owing to economic development in emerging economies has promoted machine demand. Further, growing customer disposable income coupled with rising concerns about worker security is predicted to fuel use of these machines.
Key industry participants profiled in the report include Ruthmann, HUSCO International, Bonfiglioli Riduttori, Shen Yang North Traffic Heavy Industry Group, Galipoglu Hidromas, Ognibene Power, GEREP Maschinenbau GmbH, Tadano Limited, Terex Corporation, Bosch Rexroth, Altec Corporation, Time Benelux, Suomen Vaimennin Oy, Mediterr Shock Absorbers S.p.A, Hydraforce Incorporation, Haulotte, Hunan Runshare, Bronto Skylift, Aichi Corporation, CTE, Gabriel India Limited and Teupen.
Browse key industry insights spread across 103 pages with 53 market data tables & 47 figures & charts from the report, “Aerial Work Platform (AWP) Truck Market Size By Application (Construction, Telecommunication, Transport & Logistics, Government), By Product (Boom Lifts, Scissor Lifts, Vertical Mast Lifts, Personal Portable Lifts), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, India, China, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
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