Aerial Work Platform Truck Market Is Projected To Be Around $8.20 Billion By 2022
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A research study titled, “Aerial Work Platform Truck Market by Product and Application - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the Aerial Work Platform Truck Market Is Projected To Be Around $8.20 Billion By 2022.
The global Aerial Work Platform Truck market was worth USD 1.50 billion in the year 2012 and is expected to reach approximately USD 8.20 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 16.50% during the forecast period. An aerial work platform (AWP), otherwise called an aerial device, is a mechanical gadget used to give brief access to individuals or hardware to out of reach territories, ordinarily at stature. They are widely utilized for brief, adaptable access purposes, for example, they are widely utilized for brief, adaptable access purposes, and for example, support and development work or by firefighters for access in emergency, which recognizes them from lasting access gear, for example, lifts. They are intended to lift constrained weights — normally not as much as a ton, albeit some have a higher safe working load (SWL) recognizing them from most sorts of cranes. They are typically fit for being set up and worked by an individual. Aerial work platform truck items for the most part involve boom lifts, personal portable lifts, scissor lifts and vertical mast lifts. They are extremely useful in sectors like telecommunication, transport & logistics, construction and government.
The expanding requirement over the telecommunication sector, especially in China, Taiwan, Indonesia, India and Brazil is foreseen to help the advancement of the business in the up and coming years. Expanding repair and maintenance exercises in developed countries like North America and Europe may also support the advancement of the aerial work platform truck market. Expanding investment by the legislature and quick advancement in the foundation joined with creating private enthusiasm for the real-estate sector; particularly in Asia Pacific is furthermore evaluated to raise request all through the accompanying couple of years. The business is poised for advancement because of rising demand for material handling equipment in manufacturing units and industrial facilities coupled with rising issues concerning security of employees.
On the basis of product the global Aerial Work Platform Truck Market is segmented into Personnel Portable Lifts, Boom Lifts, Scissor Lifts and Vertical Mast Lifts. On the basis of application the market is segmented into Government, Transport & Logistics, Telecommunication and Construction. The major players in this market are Teupen USA, Inc., Bronto Skylift Oy Ab, RUTHMANN GmbH & Co, Aichi Corporation, HUNAN RUNSHARE HEAVY INDUSTRY CO., Terex and Altec Inc and Tadano Limited. Geographically the market is segmented into Asia Pacific, North America, Europe and Rest of the world.
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Key findings of the Aerial Work Platform Truck Market
- Blast lifts market is balanced for high development throughout the following years inferable from expanding use of these lifts for dubious design or littler spaces with constrained access. This can be additionally credited to the few advantages offered by these lifts, for example, compact design, mobility, standard oscillating axle, and tight turning radius.
- Construction applications represented more than 30 percent of the general AWP truck industry in 2014, and are anticipated to witness high development over the figure time frame. Developing foundation improvement and private interest in land are relied upon to be key variables in charge of development in this segment.
- Telecommunication sector is relied upon to display high development, which can be credited to expanding number of consumers for smartphones especially in Asia. Smartphone expansion and the related requirement for enhanced telecom foundation for enhanced connectivity are relied upon to raise requirement in the telecommunication sector.
- In 2014 North America captured a considerable share of the aerial work platform truck market which can be ascribed to extensive advancements in technology. Likewise, expanding repair and maintenance exercises combined with developing concerns and standards in regards to employee safety are further driving item request in this locale.