The global aerial work 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 manitenance 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.
View
summary of this report @ 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 All Reports of
this category @ http://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
- Construction
- Telecommunication
- Transport & Logistics
- Government
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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