By 2027, the market scale of aerial work platform

2022-06-22
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By 2027, the market scale of aerial work platforms will reach US $16.76 billion, and the boom will maintain a leading position in the forecast period

by 2027, the market scale of aerial work platforms will reach US $16.76 billion, and the boom will maintain a leading position in the forecast period

the latest report of China Construction Machinery Information

shows that by 2027, the global market scale of aerial work platforms is expected to reach US $16.76 billion, with a compound annual growth rate of 6.0%. With the increase of government investment in the private sector and the rapid development of infrastructure in the Asia Pacific region, it is expected to drive market growth in the forecast period

due to the increase in construction activities in the ASEAN region and the growing demand for high-altitude equipment in the Indian steel industry, it is expected that the Asia Pacific region will have the fastest CAGR of 7.6% from 2020 to 2027

according to the type of engine, due to the increasing demand for diesel boom elevators used for heavy outdoor work and topographical surfaces, it is expected that the engine driven aerial work platform will be adjusted to achieve the fastest growth in 2020-2027 by adding sizing blocks under the base

by product type, boom lifts are expected to maintain a leading position in the forecast period because they are multi-functional machines that can be used in public utilities, construction, warehousing and transportation

due to the growing demand for maintenance and repair services in the residential construction sector, the electric engine segment accounted for the largest share of 62.4% in 2019. Due to the increased investment in new infrastructure and the encouragement of public private relations (PPP) reform in the Asia Pacific region, the construction end use industry is expected to maintain a leading position in the forecast period

in the past three years, the implementation of strict worker safety regulations worldwide, the increasing use of advanced lifting technology, the increasing number of companies leasing AWP in China, and the increase in construction expenditure in ASEAN will create opportunities for AWP manufacturers in the next seven years

aerial work platforms are widely used in the maintenance and construction of mining infrastructure, including processing facilities, overhead conveyors and other facilities in and around the mine. It is expected that the strong demand for investment in new infrastructure in the metals and mining industry will create opportunities for AWP manufacturers during the forecast period

according to Eurostat data, due to the continuous prevalence of coronavirus, it is expected that the output growth of EU construction industry will shrink by 11.5% by 2020, and then rebound by 6% in 2021. In addition, it is expected that in the forecast period, there will be no increase in the expenditure when the stiffness of the buffer is less than that of the commercial facilities. At the same time, the reduction of government expenditure and economic uncertainty will also limit the growth of the market

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