Aerial Work Platform Truck Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR40654
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The aerial work platform (AWP) truck market has the potential to grow by USD 1.92 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.61%.

This aerial work platform truck market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (boom lifts, scissor lifts, vertical mass lifts, and personnel portable lifts), end-user (construction, telecom, transportation and logistics, and others), and geography (North America, Europe, APAC, MEA, and South America). The aerial work platform truck market report also offers information on several market vendors, including Altec Inc., Bronto Skylift Oy Ab, Haulotte Group, Linamar Corp., Manitex International Inc., Manitou BF SA, Oshkosh Corp., Tadano Ltd., Terex Corp., and Toyota Industries Corp. among others.

What will the Aerial Work Platform Truck Market Size be in 2021?

Aerial-Work-Platform-Truck-Market-Market-Size-2020-2025

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Aerial Work Platform Truck Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in construction activities across countries is notably driving the AWP truck market growth, although factors such as lack of trained and skilled workforce may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the aerial work platform truck industry get your FREE report sample now.

  • The rise in construction activities across countries is the major factor in driving market growth.
  • The AWP truck is witnessing a high demand due to the increasing number of new constructions in several developed and developing countries.
  • Aerial lifts, especially boom lifts, are widely used for constructing high-rise buildings.
  • Several countries such as China, India, Saudi Arabia, the UAE, Malaysia, and Indonesia are witnessing significant growth in income levels and urbanization.
  • The AWP truck market is expected to grow during the forecast period owing to the transition of the population from rural to urban areas which will require high investments for developing new housing and public infrastructure.
  • The harmful effects of GHG emissions by fossil-fuel operated AWP trucks, such as air pollution and ozone depletion, have resulted in increasing demand for low-emission vehicles.
  • Market vendors are introducing electric and hydraulically propelled AWP trucks that have reduced or zero emissions.
  • Hybrid AWP truck models running on a combination of two different power sources help in increasing rental flexibility and boosting machine utilization.
  • The growing adoption of electric and hydraulically propelled AWP trucks, which is one of the critical aerial work platform market trends, will positively influence the growth of the market during the forecast period.  

This aerial work platform truck market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Aerial Work Platform Truck Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Altec Inc.
  • Bronto Skylift Oy Ab
  • Haulotte Group
  • Linamar Corp.
  • Manitex International Inc.
  • Manitou BF SA
  • Oshkosh Corp.
  • Tadano Ltd.
  • Terex Corp.
  • Toyota Industries Corp.

 

The AWP truck market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the aerial work platform truck market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Aerial Work Platform Truck Market?

Aerial-Work-Platform-Truck-Market-Market-Share-by-Region-2020-2025

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42% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for aerial work platform trucks in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

Increasing investments in infrastructure and grid modernization and the stringent regulations related to the safety of personnel and employees will facilitate the aerial work platform truck market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Aerial Work Platform Truck Market?

Aerial-Work-Platform-Truck-Market-Market-Share-by-Product-2020-2025

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The aerial work platform truck market share growth by the boom lifts segment will be significant during the forecast period. Several benefits offered by boom lifts, especially articulating boom lifts, such as maneuvering up, ability to accommodate in tight work areas, and ability to achieve difficult positioning, make them widely used lifts in AWP trucks. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the aerial work platform truck market size.

 

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What are the Key Factors Covered in this Aerial Work Platform Truck Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive aerial work platform truck market growth during the next five years
  • Precise estimation of the AWP truck market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the aerial work platform truck industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aerial work platform truck market vendors

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Aerial Work Platform Truck Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8%

Market growth 2021-2025

$ 1.92 billion

Market structure

Fragmented

YoY growth (%)

6.57

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 42%

Key consumer countries

US, China, Germany, Canada, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Altec Inc., Bronto Skylift Oy Ab, Haulotte Group, Linamar Corp., Manitex International Inc., Manitou BF SA, Oshkosh Corp., Tadano Ltd., Terex Corp., and Toyota Industries Corp.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The aerial work platform truck market growth will increase by $1917.26 million during 2020-2025.
The aerial work platform truck market is expected to grow at a CAGR of 7.61% during 2020-2025.
Technavio has segmented the aerial work platform truck market by product (Boom lifts, Scissor lifts, Vertical mass lifts, and Personnel portable lifts) ,end user (Construction, Telecom, Transportation and logistics, and Others) , and geographic (North America, Europe, APAC, MEA, and South America).
Altec Inc., Bronto Skylift Oy Ab, Haulotte Group, Linamar Corp., Manitex International Inc., Manitou BF SA, Oshkosh Corp., Tadano Ltd., Terex Corp., Toyota Industries Corp. are a few of the key vendors in the aerial work platform truck market.
North America will register the highest growth rate of 41.96% among the other regions. Therefore, the aerial work platform truck market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the aerial work platform truck market growth are:
  • Rapid expansion in telecom and T&L industries
The aerial work platform truck market vendors should focus on grabbing business opportunities from the boom lifts segment as it accounted for the largest market share in the base year.
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