Report : Asia Pacific Aerial Work Platform Market Forecast to 2030 - Regional Analysis - by Type (Scissor Lifts, Boom Lifts, Telehandlers, Vertical Mast Lifts, and Others) and End user (Construction, Utility, Mining, Transport & Logistics, and Others)
At 8.6% CAGR, Asia Pacific Aerial Work Platform Market is Speculated to be Worth US$ 7,434.71 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Asia Pacific aerial work platform market was valued at US$ 3,830.75 million in 2022 and is expected to reach US$ 7,434.71 million by 2030, registering a CAGR of 8.6% from 2022 to 2030. Rise in ongoing maintenance requirements and growing demand for electric and hybrid-powered aerial work platforms are among the critical factors attributed to drive the Asia Pacific aerial work platform market growth.
As the global landscape of infrastructure continues to expand, there is an increasing need for efficient and safe solutions to address maintenance needs at elevated heights. Scissor lifts, boom lifts, vertical mast lifts, and other types of aerial work platforms emerge as indispensable assets in meeting the demands of routine maintenance tasks.
In the business ecosystem, maintenance is not merely a reactive process but an essential part of strategic asset management. Buildings, utilities, and industrial facilities require periodic inspections, repairs, and upgrades to ensure optimal functionality, compliance with safety regulations, and the extension of their operational lifespan. Aerial work platforms provide a critical means to access elevated work areas, facilitating maintenance crews in executing tasks ranging from structural repairs and painting to electrical system inspections. Additionally, renovation and retrofitting involve making upgrades, modifications, and improvements to existing buildings and structures. The maintenance of buildings, in particular, involves addressing structural issues, facade maintenance, and painting, tasks that necessitate safe and efficient access to various heights. Scissor lifts, with their vertical lifting capability, prove invaluable in such scenarios, allowing maintenance personnel to reach elevated work areas with stability and precision.
Utilities, encompassing power lines, communication infrastructure, and pipelines, require regular inspections and repairs. Aerial work platforms, equipped with advanced features such as telescopic arms and articulating booms, enable maintenance crews to navigate complex terrain and access utility structures at varying heights. AWP enhances the efficiency of maintenance operations and contributes to minimizing downtime in critical utility services. In industrial facilities, where machinery and equipment are often installed at elevated levels, aerial work platforms become indispensable for routine maintenance, troubleshooting, and equipment upgrades. The ability of boom lifts to provide both vertical and horizontal reach is particularly advantageous in these settings, allowing maintenance teams to access machinery located at different positions within the facility. Thus, the ongoing maintenance requirements for buildings, utilities, and industrial facilities fuel the market growth for aerial work platforms (AWPs).
On the contrary, load capacity limitations hamper the growth of Asia Pacific aerial work platform market.
Based on type, the Asia Pacific aerial work platform market is segmented into scissor lifts, boom lifts, telehandlers, vertical mast lifts, and others. The scissor lifts segment held 54.5% market share in 2022, amassing US$ 2,088.69 million. It is projected to garner US$ 3,652.30 million by 2030 to register 7.2% CAGR during 2022-2030.
In terms of end user, the Asia Pacific aerial work platform market is segmented into construction, utility, mining, transport & logistics, and others. The construction segment held 60.3% share of Asia Pacific aerial work platform market in 2022, amassing US$ 2,309.22 million. It is anticipated to garner US$ 4,211.15 million by 2030 to expand at 7.8% CAGR during 2022-2030.
Based on country, the Asia Pacific aerial work platform market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 33.6% share of Asia Pacific aerial work platform market in 2022. It was assessed at US$ 1,286.75 million in 2022 and is likely to hit US$ 2,571.67 million by 2030, registering a CAGR of 9.0% during 2022-2030.
Key players operating in the Asia Pacific aerial work platform market IMER International SpA, Terex Corp, Tadano Ltd, Sany Palfinger SPV Equipment Co Ltd, Jinan Nostec Equipment Co Ltd, JLG Industries Inc, and Xuzhou Construction Machinery Group Co Ltd, among others.
- In June 2023, JLG unveiled the X660SJ compact crawler boom lift. The X660SJ boasts a platform height of 65 feet, 7 inches, a 500-pound capacity for up to two people, a 39-foot horizontal reach, and the ability to be used both indoors and outdoors.
- In January 2022, JLG Industries Inc partnered with RE2 Robotics, a developer of intelligent robotic mobile manipulation systems. The partnership aims to develop the integration of robotics and access equipment to increase operator safety and productivity on job sites.
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