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Aerial Work Platforms Market to represent a significant expansion at 5.9% CAGR. by 2028
Research Report Insights (RRI) has launched the report titled, “Aerial Work Platforms Market to represent a significant expansion at 5.9% CAGR. by 2028”
Growth in the construction industry is giving rise to Aerial Work Platforms (AWP), providing access to inaccessible areas. AWPs are equipped with various features such as electrical outlets for power tools, also equipped with special equipment to carry glasses, window frames, etc. With the increase in trend of renting AWP, rather than owning. AWP renting companies have started training operators making it a unique selling point. With new standards being introduced in AWP, companies are providing high-quality training to operators to ensure the safety of operations. Hence, companies are also introducing safe and easy-to-use aerial work platforms using advanced technology.
According to the report by Research Report Insights (RRI), the global Aerial Work Platforms market is anticipated to reach $15.3 billion market value by the end of 2028. It is also expected to register 6.5% CAGR during 2018-2028. Meanwhile, stringent labor and safety rules are projected to drive the demand for AWP. Aerial Work Platforms is also witnessing an increasing demand from electrical line maintenance and telecommunication business, hence this will result in the growth of AWP by 2028. In terms of sales revenue, APEJ is expected to increase to 11.7% CAGR between 2016 and 2028. While North America is projected to gain revenue share of 45.5% by the end of 2028, registering 5.9% CAGR.
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Aerial Work Platforms Market segmentation By Product Type: Scissor Lifts (up to 30’, 30’ – 50’, and more than 50’), Boom Lifts (up to 60’, 60’ – 100’, and more than 100’), Other AWPs; By End Use Industries: AWP Rental Service Providers; End Use Industries, Construction, Entertainment, Commercial, Manufacturing, Others (Public Administration, Mining, Agriculture etc.); By Region: North America, Latin America, Western Europe, Eastern Europe, China, Japan, South East Asia & Pacific, Middle East & Africa
New standards to make Aerial Work Platforms more safe and reliable
With the increase in the use of AWP, the American National Standards Institute (ANSI) has introduced new ANSI A92 standards. These standards include changes in design, terminology, training and use. These standards are anticipated to take effect by mid-2018.
While in terms of changes in terminology, Aerial Work Platforms (AWP) will be replaced with new a term known as Mobile Elevated Work Platform (MEWP). New standards also require a risk assessment to be conducted before carrying out the operation,
In order to follow new standards, some AWP manufacturers have started implementing changes. For instance, Genie has developed Genie interactive tool which calculates aerial lift’s current capacity to help understand how new technology will result in productivity and safe use of the equipment. With the new interactive tool, Genie aims to educate end users of new standards that havemadeit mandatory for equipment to include platform load sense technology.
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Similarly, JLG Industries has also introduced advanced technologies such as SmartLoad, which ensures proper load chart is being used with attachment, second is the Load Management Indicator System (LMIS), which shows current load on the load chart along with the weight. While Load Stability Indicator (LSI) indicates forward balance and stability.
With new standards, leading market players are introducing new products to ensure safety and better performance. Key Players: Aichi Corporation, Time Benelux, Teupen, Haulotte, Tadano,Terex, JLG industries, Ruthman, Bronto Skylift and Bosch Rexroth
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