The global aerialwork 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 maintenance 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 report by Grand View
Research : 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: https://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
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/aerial-work-platform-truck-market
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.
