Aerial Work Platforms Market Size Worth $ 31.87 Billion By 2032 | CAGR: 6.20%

Aerial Work Platforms Market Size Worth $ 31.87 Billion By 2032 | CAGR: 6.20%


The global aerial work platforms market size is expected to reach USD 31.87 billion by 2032, according to a new study by Polaris Market Research. The report “Aerial Work Platforms Market Share, Size, Trends, Industry Analysis Report, By Engine Type (Electric and Engine-Powered); By Product Type; By End-Use; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing demand for infrastructure development in emerging economies and the rise in the number of governments and regulatory bodies across the world having a greater emphasis on workplace safety has led to increased demand for aerial work platforms that are equipped with advanced safety features. The rapid development of new and advanced technologies, such as autonomous platforms, telematics, and advanced safety features that improve aerial work platforms' efficiency, safety, and sustainability, making them more attractive to businesses and consumers, has been influencing the market growth. For instance, in March 2022, MEC Aerial Work Platforms introduced its new eco-friendly mast named "MMAE16", which comes with a compact design and eliminates the potential risk of oil leaks for environmentally safe applications mainly designed for hospitality, food, and pharmaceutical applications.

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In recent years, hybrid and electric aerial work platforms are becoming increasingly popular due to their lower emissions and quieter operation, as these platforms are equipped with advanced battery systems that provide longer run times and faster charging times than traditional diesel-powered machines. Some manufacturers also incorporate virtual and augmented reality technology into their aerial work platforms to improve safety and productivity, creating huge market demand.

Furthermore, customers are constantly looking for these kinds of products to construct and maintain commercial, industrial, and institutional buildings and also for the improved construction and maintenance of utility and telecommunication lines, foundation drilling applications, certain construction, and tree trimming, among others that results in huge product penetration and adoption worldwide.

Aerial Work Platforms Market Report Highlights

  • Electric segment accounted for largest market share in 2022, mainly driven by ability of these engines to be effectively used in several warehousing applications due to its compact design
  • Boom lifts segment held the maximum market share in terms of revenue in 2022, on account of its heavy load carrying capacity and capability to reach larger heights with more stability
  • Transportation & logistics segment is expected to grow at a CAGR during the study period, mainly due to significant expansion of global e-commerce sector and demand for enhanced warehousing facilities
  • North America region dominated the market with largest market share in 2022, owing to presence of several favorable regulations and continuous surge in the research & development-based investments
  • The global key market players include JLG Industries, Aichi Corporation, Wiese USA, Sany Group, XCMG Group, MEC, Terex Corporation, Konecrane Co., and Manitowoc Company

Polaris Market Research has segmented the aerial work platforms market report based on engine type, product type, end-use, and region:

Aerial Work Platforms, Engine Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Electric
  • Engine-Powered

Aerial Work Platforms, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Scissor Lifts
  • Boom Lifts
  • Vehicle-Mounted Platforms
  • Others

Aerial Work Platforms, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Rental
  • Construction & Mining
  • Transportation & Logistics
  • Others

Aerial Work Platforms, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Aerial Work Platforms Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 19.77 billion

Revenue forecast in 2032

USD 31.87 billion

CAGR

6.1% from 2023 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2032

Segments covered

By Engine Type, By Product Type, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Terex Corporation, JLG Industries, Aichi Corporation, Linamar Corporation, Advance Lifts Inc., Haulotte Group, Wiese USA, Galmon, MEC, EdmoLift AB, Sany Group, Palfinger AG, Zoomlion, XCMG Group, Konecrane Co., Liebherr International, Manitowoc Company Inc., Tadano Ltd., IMER International SPA, Human Sinoboom Heavy Industry Co. Ltd., and Mtandt Ltd.

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  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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