This market research report presents a detailed segmentation of the global aerial work platform (AWP) truck market by end user (construction, telecommunication, transport and logistics, and others), by product type (boom lifts, scissor lifts, vertical mast lifts, and personal portable lifts) and by geography (the Americas, APAC, and EMEA). Key vendors in this market are Altec, Haulotte, Tadano, and Terex.
Technavio’s market research analysts estimate the global AWP truck market to grow at a CAGR of around 18% between 2016 and 2020. Owing to the rising number of construction projects worldwide, the requirement for AWP trucks is expected to rise over the next four years. AWP trucks offer workers a safe and stable platform to work. They are stable and have emergency systems built in so that workers can descend to safety in case of problems. APAC is the fastest-growing region in the global AWP truck market, owing to the huge investments in infrastructure by different countries in the region, especially for industries such as construction and telecommunication.
The new market research report from Technavio provides a breakdown and analysis of the AWP segments by technology.
“Of late, many manufacturers are developing energy-efficient and user-friendly AWP trucks. Owing to the growing need to receive energy-efficient certificates, the construction companies are focused to reduce their emissions levels throughout the project lifecycle. For instance, JLG electric powered AWP trucks provide longer run time and higher productivity. These energy efficient electric drives boost the productivity of the machine,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research
The construction industry is the biggest user of AWP trucks because these can be used to lift workers as well as materials. One of the major reasons for the steady growth of this segment is the availability of AWP trucks in different configurations, which help in carrying out tasks and delivery of materials effectively. This market segment is anticipated to grow at a CAGR of almost 19% by 2020.
Global AWP truck market in construction sector 2015-2020
Source: Technavio, 2016
The leading vendors in the global AWP truck market include Altec, Haulotte, Tadano, and Terex. The manufacturers in this market have to compete for sales on parameters such as after-sale servicing, financing options and rental options to gain maximum market traction during the forecast period. Vendors in this industry focus on providing customized solutions based on individual customer requirements to bolster their revenues.
A more detailed analysis is available in the Technavio report, Global AWP Truck Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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