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Aerial Work Platforms Market: New Doors of Opportunities Open Post Emergence of Hybrid Scissor Lifts: Global Industry Analysis and Opportunity Assessment, 2018 – 2028

Report Description

Scissor lifts to project significant growth prospects in near future

Rental companies are playing pivotal role in shaping the global aerial work platforms market. The market comprises scissor lifts, boom lifts, and other types of AWPs. These platforms are used by various end-use industries for regular maintenance, inspection, and other jobs while working at certain height. The use of AWPs has significantly increased with rise in infrastructural activities, and these platforms are usually purchased directly from manufacturers or distributors, which are further rented out.

Among the major AWP types, boom lifts are expected to retain a maximum market value share in the years coming ahead. Scissor lifts areused when there is requirement of maximum vertical and horizontal outreach to work at crowded job sites. The market is likely to witness higher demand for scissor lifts in near future, which will reportedly enable scissor lift sales to reach a market value of over US$ 8,600 Mn by the end of 2028.

Hybrid scissor lifts to showcase new growth prospects for global aerial work platforms market

Hybrid scissor lifts are finding higher application scope in the global market. This is a result of the efficiency in performance that hybrid lifts depict. Rental fleet owners also witness a high prevalence of hybrid platforms as it provides flexibility of scissor lift performance for higher utilization and longer term rentals. Hybrid scissor lifts are expected to support the industry hold its focus. Further, as emission standards continue to increase, the complexity of diesel engine scissor lifts will also increase which will be drive the growth of hybrid Aerial Work Platforms in the market.

The growth of hybrid lifts is also a result of enhancements in safety standards. OSHA and other associations have developed several standards, which are promoting the growth of the Aerial Work Platforms market. The market is resulting in emergence of safe and efficient working of aerial work platforms.

High price point may remain a longstanding challenge to market growth

Growing awareness, understanding, safety concerns, and pricing, are expected to serve as the prominent factors limiting the growth of aerial work platforms market globally. High cost of AWPs stands as one major hurdle in the growth of market. Scissor lifts with increased features cost relatively higher than conventional ladders and towers. Subsequently, the number of consumers in developing countries and nations with low per capita GDP are relatively lower than developed countries.

Developing regional markets cover a major part of the global aerial work platforms market due to the rise in infrastructural growth and advancements. However, they lack in the capital investments and as a result, have to stick with the traditional practices for carrying out aerial work. Maintenance activities are still being carried out using traditional bamboo and conventional metal scaffolding for minor or major repairs in most of the developing as well as underdeveloped regions.

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