Aerial Work Platform Manufacturing in the US - Industry Market Research Report

Moving on up: After volatility in downstream markets, a rebound in construction will likely drive growth

The Aerial Work Platform Manufacturing industry has grown moderately over the five years to 2019, albeit with significant volatility from year to year. Industry demand is primarily driven by construction activity because aerial work platforms are used by nearly all construction industries. As downstream demand from most construction markets increased, rental companies sought to increase their stock, boosting revenue. However, falling steel prices and lagging demand from oil and gas construction markets tempered this revenue growth. Over the five years to 2024, industry revenue is forecast to grow. The value of both construction and aggregate private investment are anticipated to continue rising over the next five years, which will result in continued demand for the industry's products. Meanwhile, technological advances in automation will become more prevalent, which will improve profitability by reducing labor requirements.

This industry manufactures aerial work platforms, including boom lifts, scissor lifts, vertical mast lifts and personal portable lifts. Aerial work platforms may be stationary, towed or mounted on trucks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.