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 manitenance 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.
Browse full research report on Aerial Work Platform Truck
Market: http://www.grandviewresearch.com/industry-analysis/global-aerial-work-platform-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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
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
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.