The global aerial work platform rental market size was $41,435.4 million in 2020, and is expected to reach $69,028.6 million by 2030, with a CAGR of 5.1% from 2021 to 2030. Telecommunications, construction, logistics, and transportation industries require aerial work platform for various tasks. Aerial work platform is a type of lifting equipment that may be rented or leased for period of time. These rented platforms are commonly utilized for construction projects, such as constructing new structures at a height, repairing ducts, and repairing overhead cables. The major purpose of these systems is to allow access to previously inaccessible areas at a specific height for equipment and employees. Installation of compressed air, power tool sockets, as well as windowpane frame support are among other characteristics.
Demand for rural and urban infrastructure projects increases, owing to surge in population across the globe. This is the important driver driving the growth of the aerial work platform rental industry during the forecast period. In addition, the construction and infrastructure development industry is rapidly developing across the globe. For instance, in 2022, the Indian Union budget has proposed to spend about $130 billion on infrastructural developments, which, in turn, drives the growth of the aerial work platform rental market. Furthermore, technological advancements and features, including improved system safety are in demand from customers in the industrial, commercial, and government sectors for infrastructure development, maintenance, and manufacturing segments. Furthermore, substantial government investments in road, communications, power generation, transit, and other infrastructure development in the developing nations like China and India increase the demand for aerial work platform rental throughout the forecast period.
However, high cost of aerial work platform and lack of skilled labors for operating aerial platform hinder the growth of the aerial work rental platform market.
On the other hand, development of new battery technologies is projected to increase the demand for electric aerial work platforms in the future. New and improved emission requirements as well as restrictions on engine-powered aerial work platform (AWP) use indoors may create new prospects for electric and hybrid AWPs, developing the aerial work platform business.
Manufacturers, on the other hand, design innovative equipment that can be controlled over the internet. Furthermore, internet of things (IoT) integration will alleviate skilled labor shortages while improving operator and end-user safety. These aforementioned factors are expected to provide lucrative growth opportunities for market during the forecast period.
Conversely, new technical advancements, including hybridization and electrification technologies are expected to boost the growth of the aerial work platform rental industry in the future.
The aerial work platform rental market is segmented on the basis of product type, application, propulsion type, and region. On the basis of product type, it is classified into boom lift, scissor lift, vehicle mounted platforms, and others. By application, it is categorized into utility, manufacturing, construction, and others. Depending on propulsion type, it is fragmented into, diesel, electric and hybrid. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major players profiled in the aerial work platform rental market include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc. Major companies in the market have adopted acquisition and business expansion as their key developmental strategies to offer better products and services to customers in the aerial work platform rental market.
Demand for rural and urban infrastructure projects increases, owing to surge in population across the globe. This is the important driver driving the growth of the aerial work platform rental industry during the forecast period. In addition, the construction and infrastructure development industry is rapidly developing across the globe. For instance, in 2022, the Indian Union budget has proposed to spend about $130 billion on infrastructural developments, which, in turn, drives the growth of the aerial work platform rental market. Furthermore, technological advancements and features, including improved system safety are in demand from customers in the industrial, commercial, and government sectors for infrastructure development, maintenance, and manufacturing segments. Furthermore, substantial government investments in road, communications, power generation, transit, and other infrastructure development in the developing nations like China and India increase the demand for aerial work platform rental throughout the forecast period.
However, high cost of aerial work platform and lack of skilled labors for operating aerial platform hinder the growth of the aerial work rental platform market.
On the other hand, development of new battery technologies is projected to increase the demand for electric aerial work platforms in the future. New and improved emission requirements as well as restrictions on engine-powered aerial work platform (AWP) use indoors may create new prospects for electric and hybrid AWPs, developing the aerial work platform business.
Manufacturers, on the other hand, design innovative equipment that can be controlled over the internet. Furthermore, internet of things (IoT) integration will alleviate skilled labor shortages while improving operator and end-user safety. These aforementioned factors are expected to provide lucrative growth opportunities for market during the forecast period.
Conversely, new technical advancements, including hybridization and electrification technologies are expected to boost the growth of the aerial work platform rental industry in the future.
The aerial work platform rental market is segmented on the basis of product type, application, propulsion type, and region. On the basis of product type, it is classified into boom lift, scissor lift, vehicle mounted platforms, and others. By application, it is categorized into utility, manufacturing, construction, and others. Depending on propulsion type, it is fragmented into, diesel, electric and hybrid. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the aerial work platform rental market include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc. Major companies in the market have adopted acquisition and business expansion as their key developmental strategies to offer better products and services to customers in the aerial work platform rental market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aerial work platform rental market analysis from 2020 to 2030 to identify the prevailing the aerial work platform rental market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aerial work platform rental industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global aerial work platform rental market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Boom
- Scissor
- Vehicle Mounted Platforms
- Others
By Application
- Utility
- Manufacturing
- Construction
- Others
By Propulsion Type
- Diesel
- Electric
- Hybrid
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Haulotte Group
- Herc Holdings Inc.
- AFI Uplift Ltd.
- United Rentals
- Ashtead Group
- Riwal
- Loxam
- Aktio Corporation
- Nesco Rentals
- Kilotou
- Sunstate Equipment Company.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AERIAL WORK PLATFORM RENTAL MARKET, BY PRODUCT TYPE
CHAPTER 5: AERIAL WORK PLATFORM RENTAL MARKET, BY APPLICATION
CHAPTER 6: AERIAL WORK PLATFORM RENTAL MARKET, BY PROPULSION TYPE
CHAPTER 7: AERIAL WORK PLATFORM RENTAL MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Aerial work platform rental Market,' the aerial work platform rental market size was valued at $41.4 billion in 2020, and is estimated to reach $69.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030. Aerial work platforms are used in the telecommunications, construction, logistics, and transportation industries for various functions. Aerial work platforms are lifting platforms that are rented or leased for a particular period. These rental platforms are used for activities, including construction of new structures at a height, repair of ducts, and maintenance of overhead wires. The aim of these systems is to provide equipment and personnel with access to previously inaccessible places at a predetermined height. Other features include installation of compressed air and power tool sockets as well as windowpane frame support systems.There is increase in government investments for road, communications, power generation, transportation, and other infrastructure development. Development is due to increase in population in the developing nations like China and India. Growth in population increases the need for rural and urban infrastructure projects. This leads the government to invest in infrastructural development. For instance, the Indian Union budget for 2022 proposes spending around131 billion on infrastructure improvements. Furthermore, technical advancements and features, such as better system security leads to aerial work platform rental market growth.
High equipment cost and lack of skilled labor for operating aerial platforms hinder the growth of the aerial work platform rental industry. In addition, the outbreak of COVID-19 halted logistics and manufacturing activities across the globe, which, in turn, interrupted the supply chain, thereby hindering growth of the aerial work platform rental market. However, this situation is expected to improve as government is relaxing norms across the globe for resuming business activities.
New battery technologies are expected to increase the demand for electric aerial work platform rental market trends in the future. New and improved emission standards as well as restrictions on the use of engine-powered aerial work platforms indoors open up new opportunities for electric and hybrid aerial work platforms. Hence this will allow the aerial work platform business to expand. On the other hand, manufacturers invest on cutting-edge technologies that can be controlled remotely. Furthermore, internet of things(IoT) integration reduces the labor required for operating as well as provide safety. These factors are predicted to create opportunities for global market improvement throughout the forecasted period..The aerial work platform rental market forecast is carried on the basis of product type, application, propulsion type, and region. On the basis of product type, it is classified into boom lift, scissor lift, vehicle-mounted platforms, and others. Depending on application, the market is fragmented into utility, manufacturing, construction and others. By propulsion type, it is categorized into, diesel, electric and hybrid.
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the aerial work platform rental market share, and LAMEA is anticipated to secure a leading position during the forecast period.
The major players profiled in the aerial work platform rental market analysis include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc.
Companies Mentioned
- Haulotte Group
- Herc Holdings Inc.
- AFI Uplift Ltd.
- United Rentals
- Ashtead Group
- Riwal
- Loxam
- Aktio Corporation
- Nesco Rentals
- Kilotou
- Sunstate Equipment Company.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 41976.08 million |
| Forecasted Market Value ( USD | $ 69028.6 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
