Aerial Work Platforms Market Value to Grow by Almost US$ 18,658.0 Million in 2032 | Future Market Insights, Inc.

Steel Manufacturers in India to Opt for Aerial Access Platforms. By product type, the scissor lifts segment is estimated to account for more than 32% of the global aerial work platforms market share by 2032. China aerial work platforms market is projected to grow at 8.2% CAGR through 2032

NEWARK, Del., Aug. 11, 2022 /PRNewswire/ -- As per a new report by FMI, the global aerial work platforms market size is anticipated to reach a valuation from US$ 10,157.9 Mn in 2022 to US$ 18,658.0 Mn by 2032 and is set to exhibit growth at a CAGR of 6.3% during the forecast period from 2022 to 2032.

Aerial access devices, such as scissor lifts, are gaining immense popularity as infrastructural developments and regional economic expansions continue across the Middle East and Africa. Sales of aerial work platforms are growing due to the rising number of urban and rural infrastructure projects that are being undertaken to meet surging demand from the expanding population worldwide.

The manufacturing and general infrastructure sectors are exhibiting high demand for aerial work platforms globally. Various benefits of these platforms, including increased equipment protection are expected to drive their adoption among small and large construction enterprises, as well as maintenance agents and workers.

However, lack of experienced machine operators and high equipment acquisition prices may hamper demand for aerial work platforms in the next decade.  

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Key Takeaways: Aerial Work Platforms Market

• The global aerial work platforms market holds about 12% of the global crane market share.
• From 2012 to 2021, the market for aerial work platforms exhibited 8% CAGR.
• The U.S. held around 3% of the North America aerial work platforms market share in 2021.
• China is expected to create an incremental opportunity of more than US$ 1.5 Bn in the coming decade.
• By product type, the scissor lifts segment is estimated to account for more than 32% of the global aerial work platforms market share by 2032.

 "Increasing demand for rental aerial work platforms among construction companies to reduce initial purchasing and maintenance costs is expected to augment the global market," says a Future Market Insights analyst.