Truck-Mounted Aerial Work Platform (AWP) Market size to increase by USD 1.62 billion during 2022-2027, Increased government spending on infrastructure in APAC to drive the growth - Technavio
NEW YORK, Sept. 13, 2023 /PRNewswire/ -- The truck-mounted aerial work platform (AWP) market size is expected to grow by USD 1.62 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 6.3% during the forecast period. The market is segmented by End-user (Utility sector, Construction sector, and Manufacturing and others), product type (boom lifts, scissor lifts, vertical mast lifts, and personnel portable lifts), and Geography (Europe, North America, APAC, Middle East and Africa, and South America). Increased government spending on infrastructure in APAC drives the truck-mounted aerial work platform market. A number of public infrastructure projects have been envisaged or are underway in different APAC countries. Several such projects are large in terms of investments. Additionally, a country with a strong infrastructure encourages multinational companies (MNCs) to make heavy investments and set up their establishments. Hence, such factors drive the growth of the truck-mounted aerial work platform market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a FREE PDF Sample
Key Highlights:
- The report recognizes the following as some of the key players in the truck-mounted aerial work platform (AWP) market: Altec Inc., Cmc SRL, CTE SpA, Ebara Corp., Hidrokon Konya Hidrolik Makine Sanayi and Ticaret AS, Hunan Sinoboom Intelligent Equipment Co. Ltd., J C Bamford Excavators Ltd., Klubb Srl, Linamar Corp., Manitex International Inc., Morita Holdings Corp., Niftylift Ltd., Oshkosh Corp., PALFINGER AG, Ruthmann Holdings GmbH, SOLEM SA, Tadano Ltd., Terex Corp., Time Manufacturing Co., and Toyota Motor Corp.
- The Truck-Mounted Aerial Work Platform (AWP) Market is fragmented in nature.
- Market to observe 5.4% YOY growth in 2023.
Market Dynamics:
Trend
- Aerial work platforms mounted on electric trucks are emerging truck-mounted aerial work platform market trends.
Challenge
- Uncertain macroeconomic conditions challenge the growth of the truck-mounted aerial work platform market.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
The utility sector segment will be the largest revenue contributor to market growth during the forecast period. The power industry needs truck-mounted AWPs for maintenance, which is an essential aspect of operations at power generation sites globally. The increase in the demand for energy is supporting the growth in the power construction segment, which is leading to the need for truck-mounted AWPs. Get a glance at the market contribution of the segments, Request a FREE Sample
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Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Product Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio
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