Aerial Work Platform Market is estimated to grow at a CAGR of 6.2%Posted by Satr Martin on April 18th, 2018 Global Aerial Work Platform Market Overview Work platforms are used by technician, engineers and workers to reach inaccessible zones in order to maintain or fix the glitches. Aerial work platform enables workforce to reach manually and physically to operate tasks such as fixing technical problems of heighted telecommunication towers. Aerial work platform also employed for installation and maintenance of high tension power lines, street lights and transformers. The rapid growth in power sector along with rising maintenance and repair activities across the globe are some of the major factors which are driving importance of aerial work platforms. Market size and forecast The global aerial work platform market is projected to reach USD 14.2 Billion by 2023 from USD 7.8 Billion in 2015. Further, the market is predicted to index a CAGR of 6.2% over the forecast period i.e. 2016-2023. The market of aerial work platform is majorly driven by the factors such as rising investment in construction and increase in adoption of time savings and safe equipment. Apart from this, the construction applications accounted the highest revenue share of 28% of the overall global aerial work platform market in 2015 and expected to flourish over the forecast period 2016-2023. Rising infrastructure development in growing economies is the major key driver for the growth in near future. North-America is estimated to dominate the global aerial work platform market in near future owing to rapid pace in building construction, skyscrapers and rising concern towards maintenance and repair activities of constructed structures. The market of North-America is expected to garner USD 3.6 Billion by the end of 2016 and believed to expand at a CAGR of 5.9% over the forecast period i.e. 2016-2023. Request For Sample Pages: https://www.researchnester.com/sample-request/2/rep-id-189 Asia-Pacific market for aerial work platform is anticipated to be the fastest growing market across the globe over the forecast period. Presence of emerging economies such as India, China, Japan, Malaysia, South Korea and rapid urbanization heating the infrastructure and telecommunication facilities are some of the prime driving factors for the growth of aerial platform market in near future. Moreover, the market in Asia-Pacific region is estimated to flourish at a CAGR of 11.5% over the forecast period i.e. 2016-2023. Furthermore, massive construction projects and rise in number of skyscrapers in Middle-East countries is further anticipated to beef up the demand for aerial work platforms in near future. Rising infrastructure and building construction in growing economies and offering of numerous type of aerial work platform according to the needs of technicians and workers are some of the major key factors gaining traction of builders and other end-use industry. Moreover, adoption of aerial work platforms in the rising skyscrapers across the globe and advancement in telecommunication sector to carry out the work in distant zones are providing impetus to the aerial platform market. Demand Analysis By Market Segmentation Our in-depth analysis segmented the global aerial work platform market in the following segments: By Mechanism Self-Propelled Manual By Product Type Boom Lifts Scissor Lifts Vertical Mass Lifts Personal Portable Lifts By Fuel Type Petrol/Gasoline Gas Electric Hybrid fuel By Platform Height Up to 30 Feet 30 Feet-60 Feet 60 Feet-100 Feet More than 100 Feet By End-User Construction Mining Manufacturing Telecommunication Transport & Logistics Others(Public Administration) By Region Global aerial work platform market is further classified on the basis of region as follows: North America (United States /U.S. & Canada) Latin America (Brazil, Mexico, Rest of Latin America) Western and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Western Europe) Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Middle East and North Africa (MENA) Rest of World Growth Drivers and challenges Rapid expansion in infrastructure and building construction across the globe, setting-up of new telecommunication towers and increasing concern towards periodic maintenance of skyscrapers, installed towers and high tension power lines are some of the major catalysts for the growth of aerial work platform market. Factors such as technological advancements in aerial work platforms, wide scale applications in end-use industry for maintenance, repair and installation activities, diversification in work platforms, availability of aerial work platform on rental basis, rising concern towards workers and technicians safety and growing adoption of aerial work platforms in public events for security and recording purposes are swelling the demand for aerial work platforms in near future. Request For TOC Here: - https://www.researchnester.com/toc-request/1/rep-id-189 In addition to this, economic growth in developing nations, rising infrastructural facilities along with rising investment in construction, advancements in telecommunication sector to provide better services and rapid pace in urbanization are some of the underlying dynamics which are expected to upsurge the market of aerial work platforms during the forecast period i.e. 2016-2023. However, high cost of aerial work platforms, lack of skilled machine specific engineers, technicians and operators, unawareness in underdeveloped nations and high maintenance cost of aerial work platforms are the major factors hindering the growth of aerial work platform market across the globe. Key Players The key vendors of aerial work platform market are as follows: Aichi Corporation Company Overview Key Product Offerings Business Strategy SWOT Analysis Financials Time Benelux Teupen Ruthmann Bronto Skylift Haulotte Tadano Scope and Context Overview of the Parent Market Analyst View Segmentation The Global Aerial Work Platform Market is segmented as follows: By Mechanism type Market Size and Y-O-Y Growth Analysis By Product type Market Size and Y-O-Y Growth Analysis By Fuel type Market Size and Y-O-Y Growth Analysis By Height type Market Size and Y-O-Y Growth Analysis By End-user type Market Size and Y-O-Y Growth Analysis By Regions North America (U.S., Canada) Market Size and Y-O-Y Growth Analysis Latin America (Mexico, Brazil, Rest of Latin America) Market Size and Y-O-Y Growth Analysis Western and Eastern Europe (Germany, Italy, Spain, France, U.K, Benelux, Hungary, Rest Of Western Europe, Russia Poland, Rest of Eastern Europe) Market Size and Y-O-Y Growth Analysis Asia-Pacific (China, India, Singapore, Japan, Australia and New Zealand and Rest of Asia) Market Size and Y-O-Y Growth Analysis Middle East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis Rest of World Market Size and Y-O-Y Growth Analysis Market Dynamics Supply and Demand Risk Competitive Landscape Porter’s Five Force Model Geographical Economic Activity Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio Recent Trends and Developments Industry Growth Drivers and Challenges Key Information for Players to establish themselves in current dynamic environment Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties. Read More Information: https://www.researchnester.com/reports/aerial-work-platform-market-global-demand-growth-analysis-opportunity-outlook-2023/189 For Table of Content & Free Sample Report Contact: Name:-Ajay Daniel Email:ajay.daniel@researchnester.com U.S. +1 646 586 9123 U.K. +44 203 608 5919 Website:-www.researchnester.com Like it? Share it!More by this author |