Aerial Work Platform Truck Market is expected to reach approximately USD 8.20 billion by 2022

The global Aerial Work Platform Truck market was worth USD 1.50 billion in the year of 2012 and is expected to reach approximately USD 8.20 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 16.50% during the forecast period. In 2014, the global aerial work platform (AWP) truck market was valued at over USD 2 billion. The increasing demand across the telecommunication industry, particularly in Taiwan, Brazil, Indonesia, India and China is anticipated to boost the development of the industry in the upcoming years. Increasing maintenance and repair activities in developed nations like North America and Europe may additionally boost the development of the aerial work platform truck market. Increasing investment by the government and rapid advancement in the infrastructure combined with developing private interest in the real-estate segment; especially in Asia Pacific is additionally assessed to raise demand throughout the following couple of years. The business is poised for development due to rising requirement for material handling hardware in production units and industrial facilities combined with developing concerns in regards to safety of workers.

Product Outlook and Trend Analysis

Aerial work platform truck items for the most part involve boom lifts, personal portable lifts, scissor lifts and vertical mast lifts. Boom lifts are expected to display high development and record for most of the part of the overall industry throughout the following couple of years. In 2014, vertical mast lifts and scissor lifts represented more than 45% of the worldwide aerial work platform truck industry. Expanding demand in maintenance and establishment applications may boost scissor lifts demand throughout the following couple of years. Furthermore, operational advantages offered by scissor lifts, for example, moving ability in tight spaces may likewise boost item demand substantially.

Market Classification

  • Aerial Work Platform Truck Market, By Product, Estimates and Forecast, 2012-2022 ($Million)
  • Scissor Lifts
  • Boom Lifts
  • Vertical Mast Lifts
  • Personnel Portable Lifts

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  • Aerial Work Platform Truck Market, By Application, Estimates and Forecast, 2012-2022 ($Million)
  • Telecommunication
  • Government
  • Construction
  • Transport & Logistics
  • Other Applications

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

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