Sep 28, 2022   SOURCE: BusinessWire

Outlook on the Aerial Work Platform Rental Global Market to 2030 - Featuring AFI Uplift, United Rentals, Ashtead and Loxam Among Others - ResearchAndMarkets.com

The "Aerial Work Platform Rental Market By Product Type, By Application, By Propulsion Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

The global aerial work platform rental market size was $41,435.4 million in 2020, and is expected to reach $69,028.6 million by 2030, with a CAGR of 5.1% from 2021 to 2030.

Key Market Players

  • Haulotte Group
  • Herc Holdings Inc.
  • AFI Uplift Ltd.
  • United Rentals
  • Ashtead Group
  • Riwal
  • Loxam
  • Aktio Corporation
  • Nesco Rentals
  • Kilotou
  • Sunstate Equipment Company

Telecommunications, construction, logistics, and transportation industries require aerial work platform for various tasks. Aerial work platform is a type of lifting equipment that may be rented or leased for period of time. These rented platforms are commonly utilized for construction projects, such as constructing new structures at a height, repairing ducts, and repairing overhead cables.

The major purpose of these systems is to allow access to previously inaccessible areas at a specific height for equipment and employees. Installation of compressed air, power tool sockets, as well as windowpane frame support are among other characteristics.

Demand for rural and urban infrastructure projects increases, owing to surge in population across the globe. This is the important driver driving the growth of the aerial work platform rental industry during the forecast period. In addition, the construction and infrastructure development industry is rapidly developing across the globe.

For instance, in 2022, the Indian Union budget has proposed to spend about $130 billion on infrastructural developments, which, in turn, drives the growth of the aerial work platform rental market. Furthermore, technological advancements and features, including improved system safety are in demand from customers in the industrial, commercial, and government sectors for infrastructure development, maintenance, and manufacturing segments.

Furthermore, substantial government investments in road, communications, power generation, transit, and other infrastructure development in the developing nations like China and India increase the demand for aerial work platform rental throughout the forecast period.

However, high cost of aerial work platform and lack of skilled labors for operating aerial platform hinder the growth of the aerial work rental platform market.

On the other hand, development of new battery technologies is projected to increase the demand for electric aerial work platforms in the future. New and improved emission requirements as well as restrictions on engine-powered aerial work platform (AWP) use indoors may create new prospects for electric and hybrid AWPs, developing the aerial work platform business.

Manufacturers, on the other hand, design innovative equipment that can be controlled over the internet. Furthermore, internet of things (IoT) integration will alleviate skilled labor shortages while improving operator and end-user safety. These aforementioned factors are expected to provide lucrative growth opportunities for market during the forecast period.

Conversely, new technical advancements, including hybridization and electrification technologies are expected to boost the growth of the aerial work platform rental industry in the future.

The aerial work platform rental market is segmented on the basis of product type, application, propulsion type, and region. On the basis of product type, it is classified into boom lift, scissor lift, vehicle mounted platforms, and others. By application, it is categorized into utility, manufacturing, construction, and others.

Depending on propulsion type, it is fragmented into, diesel, electric and hybrid. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aerial work platform rental market analysis from 2020 to 2030 to identify the prevailing the aerial work platform rental market opportunity.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the aerial work platform rental industry segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global aerial work platform rental market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product Type

  • Boom
  • Scissor
  • Vehicle Mounted Platforms
  • Others

By Application

  • Utility
  • Manufacturing
  • Construction
  • Others

By Propulsion Type

  • Diesel
  • Electric
  • Hybrid

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

For more information about this report visit https://www.researchandmarkets.com/r/tjv01e