October 25, 2021
According to the research report titled “Global Aerial Work Platform (AWP) Truck Market Size study, by Product (Boom lifts, Scissor lifts, Vertical mast lifts, Personnel portable lifts) by End Use (Construction, Telecommunication, Transport & logistics, Government) and Regional Forecasts 2021-2027”, available with MarketStudyReport, global aerial Work platform (AWP) truck market is anticipated to widen at a robust growth rate over the forecast period 2021-2027.
Proliferating maintenance and repairing activities, along with increasing construction of high-rise buildings and other infrastructural activities are driving global aerial work platform (AWP) truck market.
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Moreover, inflowing government investment and technological advancements are likely to boost market growth. However, huge costs involved in manufacturing AWP trucks will impede the industry development over the projection period.
For the uninitiated, mechanical device used to provide temporary access for people or machinery to inaccessible areas that are generally at height is called an aerial work platform (AWP).
From regional perspective, the market size and scope are defined by considering Asia Pacific, Latin America, North America, and Europe as the key avenues. Among these, Asia Pacific accounts for considerable market share owing to developing infrastructure.
Emerging economies like India are slated to infuse growth in the regional industry. In fact, according to Invest India, National Investment Promotion & Facilitation Agency, India is expected to stand at third place in terms of constructional activities by the end of the year 2025.
Whereas, North America industry is anticipated to exhibit a robust growth rate over the forecast period primarily due to heightened investments in mobile work platforms.
Considering the competitive landscape, major players influencing worldwide aerial work platform (AWP) truck industry trends are Aichi Corporation, Terex Corporation, Linamar Corporation, Altec Inc., Tadano Ltd., Bronto Skylift Inc., Runshare, Ruthmann GmbH & Co., and Teupen Maschinenbau GmbH are among the leading companies in this business sphere.