The latest report on Aerial Equipment Market by Infinium Global Research gives complete coverage of the Aerial Equipment Market by Product (boom lift, vertical mast lift, scissor lift, and personal portable lift) and application (construction, telecommunication, transportation & logistics, and government) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Aerial Equipment such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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High Capital Investments Associated with Industrial Lifting Equipment is Likely to Hamper the Growth of the Industry
An aerial work platform is known as aerial equipment, which is a mechanical device that is used to provide temporary access to the people in the inaccessible areas usually at height. They are generally used for flexible access purposes such as maintenance of construction work, firefighters, or emergency access. Nevertheless, of the task, they are used for aerial work platforms that provide additional features beyond transport and access including electrical outlets or compressed air connectors for power tools. Access equipment is gradually used in factories & manufacturing plants for material handling applications as well as in the telecommunication sector for maintenance & installation of telecom poles, overhead lines.
Increasing utilization of access platforms in the infrastructure projects across the globe is anticipated to be the major factor driving the growth of the aerial equipment market. Additionally, growth in the construction industry, stringent labor laws, and government regulations are expected to boost the market over the upcoming years. Due to high mobility, high traveling speed and less time for setup on construction sites, the market for mobile cranes is increasing. However, high capital investments associated with industrial lifting equipment are likely to hamper the growth of the market over the forecast period.
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Building Airports and Stadiums are Providing Abundant Opportunities for the Aerial Equipment Industry.
On the other hand, increasing demand for lifting loads in the shipping industry and increasing demand for the forklifts in the warehouse is providing several growth opportunities for the key players in the aerial equipment market. Furthermore, demand for crane and hoists in the mining industry has opened the door for opportunities for the aerial equipment market. Moreover, increasing investments made by the regional government in the industrial sector such as building airports and stadiums are providing abundant opportunities for the aerial equipment industry.
Among the geographies, Asia Pacific dominated the aerial equipment market followed by North America. Additionally, the growing demand for advanced construction equipment technology is expected to dominate the North American market. Moreover, an increasing number of infrastructure-related projects in the Asia Pacific regions is anticipated to generate significant growth opportunities for mobile elevated work platforms. On the other hand, the equipment rental industries in China is quite new, currently, the major focus of these industries is on renting scissor, and boom lifts. However, high costs associated with the purchase of this equipment such as the construction and telecommunication sector for general repair and maintenance activities at inaccessible areas usually at height is compelling the market.
The companies profiled in the aerial equipment market are United Rentals, Ashtead Group, Loxam, Herc Holdings Inc. Moreover, The Manitou group, a world leader in all-terrain material handling has signed an agreement to acquire Terex Equipment Private Limited (TEPL) from Terex Corporation.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the aerial equipment.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.