Aerial work platform (AWP) is also known as mobile elevating work platforms (MEWP), cherry pickers, and aerial lifts. It is designed primarily for raising or elevating persons to suitable heights for construction, renovation, maintenance, logistics, storage, and retail applications, among others. Moreover, aerial work platforms can be used for both indoor and outdoor jobs and are offered in fully-electric, fuel-powered, and hybrid variants for adaptable and flexible performance. AWP provides a secure and sturdy platform for the operator, consequently minimizing fatalities on construction sites and improving job quality.
AWPs are designed to lift or elevate personnel to appropriate heights and provide a stable and secure base during the elevated phase. AWPs are highly adaptable and practical and can be utilized indoors and outdoors. The growth of the construction industry is one of the primary factors driving the expansion of the aerial work platform market. In the future, developing nations such as India, Brazil, and others will have tremendous potential in the construction industry, creating demand for aerial work platforms. In addition, the high number of accidents resulting from incorrect scaffolding erection and the risk of falling is driving up demand for aerial work platforms. However, advancements in battery technology are anticipated to generate new growth opportunities for the aerial work platform market. Fully electric aerial work platforms are gaining traction in interior applications and are expected to stimulate the aerial work platform market shortly.
The fundamental advantage of aerial work platforms is their portability and compactness, especially on urban construction sites with limited space. Aerial work platforms require less site space for operation than any other elevating platform and perform the same functions as conventional techniques such as ladders and scaffolding while maximizing functional working space. For example, scissor lifts can be folded into their gearbox component, requiring extremely minimal storage space.
In addition, working at heights is highly hazardous, especially in outdoor occupations such as construction, maintenance, and utility work. In the past, these jobs were completed utilizing non-mechanical equipment like ladders and wooden scaffolding. Lifting individuals has become considerably accessible with aerial work platforms. AWPs frequently give a more stable working platform than conventional methods. Although events like electrocution and tipping are possible with Aerial Work Platforms, the risk of accidents can be significantly minimized when trained employees operate the equipment. A range of elements, including operator training, experience, equipment inspection, and analysis of probable events, can enhance the safety of aerial work platforms. Thus, aerial work platforms' reduction in accidents and more excellent safety compared to conventional methods contribute to expanding the market for aerial work platforms.
Shortly, developments in electric and hybrid engines are predicted to increase demand for aerial work platforms. It is projected that an increase in construction and non-construction applications prioritizing environmental sustainability would fuel the demand for electric vehicles. Aerial work platforms are commonly employed in urban areas and warehouses with noise and pollution constraints. Using electric and hybrid AWPs can assist in compliance with these rules. Moreover, the development of battery technologies that allow for maximum productivity on a single charge and the use of hybrid engines that charge batteries with fuel-based engines can provide highly efficient lifting, minimizing operational time on the project site.
Asia-Pacific is envisioned to hold the largest share in revenue with a CAGR of 9.4% during the forecast period. During the forecast period, China will dominate the Asia-Pacific market for aerial work platforms. China's increased emphasis on manufacturing and utilizing aerial work platforms resulted in a significant increase in the worldwide market share of aerial work platforms in 2020. This trend will continue during the forecast period. Additionally, the rapid recovery of COVID-19 patients and containment of the infection's spread allowed the government to accelerate the production of aerial work platforms more rapidly than in the United States and Europe.
However, underdeveloped countries in the Asia-Pacific area continue to rely on traditional work platforms such as ladders and scaffolding, mostly because aerial work platforms are costly and require skilled operators. On the contrary, expanding equipment rental services may assist in the market growth for aerial work platforms during the forecast period.
North America will hold the second-largest share of USD 5,373 million with a CAGR of 6.9% during the forecast period. The established infrastructure industry, the high demand for aerial work platforms with the most advanced technology, and the massive number of suppliers in the United States and Canada all contribute to the growth of the aerial work platform market.
The United States is among the significant user of aerial work platforms, mainly due to the presence of various domestic and foreign manufacturers such as JLG Industries Ltd., Genie, and others. Additionally, the nation's well-established construction and utility industries increase the demand for aerial work platforms. In addition, Canada's rise as a center in the supply chain is predicted to stimulate demand for scissor lifts. The presence of transportation infrastructures such as highways, rivers, and trains has benefited the country's logistics sector. This is expected to raise the demand for aerial work platforms in the region.