According to the research report titled ‘South Korea Aerial Work Platform (AWP) Rental Market Size By Product (Boom Lift, Scissor Lift, Vertical Mast Lift, Personal Portable Lift), By Application (Construction, Telecommunication, Transportation & Logistics, Government), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, available with MarketStudyReport, South Korea aerial work platform (AWP) rental market is expected to be worth USD 350 million by the end of the forecast period 2019-2025.

As per the report findings, surging focus on infrastructure inspection and maintenance of high-rise buildings is the primary factor driving South Korea aerial work platform (AWP) rental market growth.

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Additionally, increasing government investments in construction of roadways, buildings, and transportation points to provide better infrastructure facilities for the local population is likely to create several opportunities for industry partakers over the upcoming years.

Notably, increasing reconstruction activities due to occurrence of natural calamities like landslides, floods, winter storms, and tsunamis, and growing efforts to maintain aging buildings are bolstering the industry remuneration scope. Moreover, various geopolitical conflicts and war wreckages will add to the industry’s growth prospects in the upcoming years.

By application scope, government sector is likely to generate massive revenues over the forecast period, as these access platforms offer safe and reliable way to access energized overhead power lines. Moreover, increasing government initiatives for supplying water, power, and other utilities are promoting heavy investments in infrastructure installment and development.

Prominent players in South Korea aerial work platform (AWP) rental industry include Terex Corp., Skyjack (Linamar), Manitou BF SA, Korea Rental Corp., JLG Industries Inc., Horyong Co. Ltd., Haulotte Group, and AJ Networks Co. Ltd.