Aerial Work Platform Market Size, Share & Industry Analysis, By Product Type (Scissor Lifts, Boom Lifts, Telehandler, and Others), By Power Type (Engine Powered, Electric Powered, and Hybrid), By Lifting Height (Less than 20 Feet, 20 Feet - 50 Feet, and More than 50 Feet), By Application (Construction, Utilities, Transportation, and Others), and Regional Forecast, 2024-2032

The global aerial work platform market size was valued at USD 10.46 billion in 2023. The market is projected to grow from USD 11.17 billion in 2024 to USD 20.47 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period.

Aerial work platforms are also known as mobile elevating work platform, cherry pickers, and aerial lifts. They are designed for lifting a person or individual at a certain height as per requirement. They are used across applications such as window cleaning, electricity maintenance, remodeling, logistics, retail, and many more. They can be utilized for indoor as well as outdoor tasks. Aerial lifts have replaced scaffolding and ladders on many job sites, owing to their flexibility and mobility. They may be manually or battery powered aerial lifts. A rapid growth of technological advancements, with mechanization and urbanization globally, has increased the demand for aerial lifts, which drives the aerial work platform market growth. It has features such as high efficiency, versatility, easy to use, cost-effective, lightweight, and compact in size. It is used in construction sites, schools, churches, warehouses, electricity maintenance sites, and others.

Partial or complete lockdowns were implemented globally due to COVID-19 outbreak, which resulted in the downfall of many manufacturing processes. In addition, halted construction related activities, manufacturing facilities, and disruptions in the supply chain influenced the growth of the market. The major players recorded a substantial drop in revenue produced during 2020. For instance, the net sales of Manitowoc Company Inc. dropped by around 27% in 2020 compared to 2019. In the long term, the COVID-19 pandemic is anticipated to have an affirmative impact on the global market.

A rise in residential and commercial construction activities has risen investments in public infrastructure globally, which boosted the growth of the global market. For instance, in July 2022, the Indian government planned to spend around USD 583.1 million on residential and commercial construction activities in Uttar Pradesh, India. A growth in urbanization results in need for urban space planning and construction related activities, which drives the growth of the market. Governmental initiatives for heavily investing in the private as well as public sectors are supporting the growth of the market. For instance, government initiatives, such as Smart City Mission, plan to spend around USD 27.33 billion to build 100 smart cities across India. Also, rapid manufacturing and infrastructural development in developing countries, such as China, India, Brazil, and others, surges the demand for aerial lifts. In addition, rise in the number of accidents due to improper scaffolding construction and risk of falling also surges the demand for aerial work platforms.

Aerial Work Platform Market Trends

Technological Progression in Product to Dynamically Boost Market Growth

In the current landscape, major players are directing their efforts toward introducing cutting-edge technological innovations, particularly focusing on electric-powered and remote-operated systems to gain a competitive edge in the market. This strategic shift aligns with the increasing emphasis on sustainability and efficiency within the construction industry. For instance, Zoomlion Heavy Industry Science & Technology Co Ltd, based in China, unveiled its latest all-electric telescopic boom lift series, ZT22JE and ZT26JE, in November 2021. These indoor models, powered by lithium batteries, boast impressive lifting heights ranging from 24.4 to 28.7 meters, and feature 360-degree movement capabilities and four-wheel drive. Equipped with 80-volt lithium batteries, these lifts achieve a full charge within seven hours, enhancing operational efficiency and reducing environmental impact.

Moreover, in a bid to capitalize on the growing demand for sustainable construction equipment, LGMG Europe announced plans to showcase new electrically powered telescopic boom lifts in 2022. These advancements mark a significant milestone in the evolution of construction machinery, as manufacturers strive to meet stringent environmental regulations and cater to the increasing preference for eco-friendly solutions. With continuous investment in research and development, coupled with the integration of state-of-the-art technologies, the market for electric-powered telescopic boom lifts is poised for substantial growth over the coming years.

Aerial Work Platform Market Growth Factors

Increasing Safety Standards Globally to Boost Market Growth

The advantages associated with these products, including portability, flexibility, ease of use, and mobility, and make them invaluable assets across various industries such as construction and electricity maintenance. Their compact design and maneuverability render them ideal for tasks requiring access to confined or hard-to-reach areas, contributing to enhanced efficiency and productivity on job sites. Furthermore, the substitution of traditional equipment such as scaffolding or ladders with these innovative platforms streamlines operations and drives market growth. The inherent risks associated with working at heights, particularly in building maintenance and light maintenance tasks, underscore the importance of adopting safer alternatives such as aerial lifts.

The escalating number of accidents related to scaffolding construction underscores the urgent need for safer working practices, with aerial lifts offering a safer solution for personnel elevation and work enhancement. Ongoing efforts to bolster operational safety through measures such as operator training, equipment inspections, and heightened awareness are pivotal in reducing the incidence of workplace accidents. As safety continues to be a top priority for industries, the market for aerial lifts is poised for sustained growth as businesses seek to mitigate risks and enhance workplace safety standards.

RESTRAINING FACTORS

Variation in Raw Material Prices to Hamper Product Demand

Metals, metal alloys, and stainless steel are important raw materials used by producers. The fluctuation in raw material prices can affect the prices of these products and profitability of manufacturers. For example, an increase in the prices of steel, metal, and alloys, which could surge the cost of these products, could impact the product sales. For instance, according to Global Data, prior to COVID-19, in March 2020, the pricing of steel ranges from USD 500 to USD 800. In 2021, the prices of steel grew up by around 200%, and traded at USD 1,800. Hence, the variation in raw material prices is predicted to act as a constraint for the growth of the market.

Preference of Customers Toward Cost-effective Alternatives such as Scaffolding and Ladder is Curbing Market Growth

Alternative products, such as scaffolding, ladder, and others, have been utilized by construction, utilities, and transportation sectors for a long time. This requires low cost and is easy to use. Ladders and scaffolding are lightweight, and are convenient for transportation from one place to another. In terms of aerial lifts, it is difficult to move from one place to another place, specifically in developing nations. In addition, aerial lifts are also utilized in window cleaning and painting applications. Such products require high cost compared to ladder and scaffolding. Such factors are projected to restrain the market growth.

Aerial Work Platform Market Segmentation Analysis

By Product Type Analysis

Significant Development in Aerial Work Platform is Anticipated to Provide a Considerable Growth to Scissor Lifts Segment

By product type, the market is classified into scissor lifts, boom lifts, telehandler, and others. The scissor lifts segment exhibits a highest CAGR during the forecast period. (2024-2032).

The boom lifts segment is projected to propel the strongest growth rate, owing to features such as cost efficiency, easy to use, and low space required to operate. It is used for construction and electricity maintenance sites.

The scissor lifts segment is expected to grow at the highest rate due to features such as remote operated, motorized lifts, and also reduces accidents. It has a special advantage such as it provides multiple height adjustment options.

The telehandler lifts segment is projected to exhibit moderate growth, owing to rise in need to lift heavier loads at construction sites. Also, these machines are anticipated to grow with increasing skyscraper constructions in various economies.

Others segment includes vertical mast lifts and others. Rise in use of vertical mast lifts in construction maintenance, electricity maintenance sites, and logistics sites fuels the growth of the market. In addition, rise in demand for vertical mast lifts and rough terrains across construction, mining, and logistics sectors drives the growth of the market.  

By Power Type Analysis

Engine Powered Segment Set to Observe Significant Growth Due to Features Associated with Engine Powered Devices

By power type, the market is categorized into engine powered, electric powered, and hybrid.

The engine powered segment is growing with substantial growth, owing to many aerial lifts products adopting LPG based engine or diesel engine for operation. Engine powered aerial lift offers features such as energy efficiency, flexibility, and improved productivity.

The electric powered segment is anticipated to witness strong growth, owing to features such as zero emission control, noise control, and environment-friendly. It is basically used for construction sites as well as maintenance sites.

Hybrid segment has decent growth due to upgraded emission standards and limitations in indoor use of engine powered aerial lifts and hybrid aerial lifts.

By Lifting Height Analysis

More than 50 Feet Segment to Dominate the Market Due to Flexibility

By lifting height, the market is categorized into less than 20 feet, 20 feet - 50 feet, and more than 50 feet.

The less than 20 feet segment is set to observe huge growth, owing to their applications in construction, utility, and transportation.

The 20 feet - 50 feet segment is anticipated to witness strong growth due to adoption of these lifts in small as well as large enterprises. It has features such as engine as well as electric powered aerial lifts. Additionally, due to increasing utilization and heavy upsurge in the product demand, manufacturers are focusing on launching new products in this range.

More than 50 feet segment dominates the market as manufacturers are introducing aerial lifts having lifting height up to more than 50 feet Aerial lifts with more than 50 feet in height increase efficiency by providing greater horizontal and vertical reach. Such factors drive the growth of the market.   

By Application Analysis

Construction Segment Set to Observe Significant Growth owing to Rise in Construction Related Activities

By application, the market is categorized into construction, utilities, transportation, and others. 

The construction segment dominates the market due to rise in residential and non-residential construction activities and government spending in private sectors, which boost the market growth. Scissor lifts and boom lifts are largely adopted at construction and maintenance sites.  

The utilities segment is projected to experience exponential growth, owing to rise in use of scissor lifts and telehandler for electricity maintenance, water management, sewage management, and renewable energy sectors. It offers advantages such as easy to use, fuel saving, and increases safety while performing operations.

Transportation segment is experiencing substantial growth in future, owing to adoption of aerial lifts for indoor operations such as warehouses, trucks, inventory transport, and others. Growth in the transportation industry surges the demand for aerial lifts in logistics and packaging applications, which fuels the growth of the market.

Others segment includes mining, aerospace, and defense sectors. This segment is anticipated to grow with stable growth, owing to rise in construction related activities and establishment of multiple warehouses in diverse geographies. Such instances boost the market growth.

REGIONAL INSIGHTS

The scope of the global market is characterized into five regions, North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

North America is in the best position to lead the market, owing to strong economic growth in countries including the U.S. and Canada. A good infrastructure industry, and advancements in these products, and also vital numbers of suppliers in the U.S., and Canada contributed positively to the growth of the market in North America.

U.S. to Witness Fastest Growth Attributed to Adoption of Technological Advancements in Aerial Work Platform

Several manufacturers such as Oshkosh Corporation, Terex Corporation, and others have strong product portfolio across the U.S. In addition, it has a well-established infrastructure sector and utility industry, which fuels the demand for these products. Also, it is widely used in various industries such as electricity maintenance, transportation, logistics, and others. This is expected to increase the demand for aerial work platform.

The Asia Pacific region is projected to grow with the highest growth rate, owing to rise in adoption of aerial lifts in mining, construction, utility, and related applications. A rise in government spending on new construction related activities, coupled with rise in demand for aerial lifts, boosts the market growth. For instance, in 2021, the Indian government planned to spend around USD 529.7 million on construction activities. Such instances fuel the market growth.

Europe is growing with steady growth with an increase in product launches by improving the supply chain of these products. Rise in use of smartphones, results in upgrading of telecom towers, which fuels the demand for such products for maintenance purposes. These factors boost the growth of the market.  

The South America market is expected to grow with a decent growth rate, owing to the rise in acceptance of scissor lifts and self-leveling boom lifts for construction purposes. These factors fuel the demand for aerial lifts in South America.

GCC countries are projected to grow with moderate growth rate due to rise in ongoing construction projects such as Assima Tower Building, Ciel Tower, and others. This is projected to rise the need for aerial lifts for construction activities, propelling the market growth in the Middle East.    

KEY INDUSTRY PLAYERS

Prominent Players Emphasize on Strategies to Develop Overall Market Presence

Chief players have implemented tactics, such as product introductions, acquisitions, and business extension to refine the product portfolio of aerial work platform and improve the geographic location of manufacturers globally. Moreover, key players are more fixated on making investments in R&D activities and developing a wide array of novel products. For instance, numerous companies have recently introduced remotely operated aerial lifts and electric powered aerial lifts. Development of these products is anticipated to attract a wide customer base toward the market over the forecast period.

Oshkosh Corporation and Maxi-Metal Inc. are adopting Acquisition as a Vital Strategy to Refine Product Portfolio  

In June 2022, Oshkosh Corporation acquired Maxi-Metal Inc. based in the U.S. that deals in aerial lifts, commercial pumpers, rescue trucks, wildland trucks, mini pumpers, and fire apparatus. The acquisition is aimed to improve the product portfolio and geographical presence globally.

Additionally, accessibility of supply chain network and franchise network is predicted to fuel the growth of the market.

LIST OF TOP AERIAL WORK PLATFORM COMPANIES:

• Terex Corporation (U.S.)


• Sany Group (China)


• Manitowoc Company Inc (U.S.)


• Tadano Ltd (Japan)


• Liebherr International AG (Netherlands)


• Palfinger AG (Germany)


• Konecrane Co (KUHN Group) – (Switzerland)


• Zoomlion (U.S.)


• Oshkosh Corporation (JLG Industries Inc) (U.S.)


• XCMG Group (U.K.)

KEY INDUSTRY DEVELOPMENTS:

• May 2023: JCB unveiled two flexible boom aerial work platforms, the A45E and A45EH, offering diesel/electric hybrid and battery-electric drivelines. These models enhance customer performance with improved efficiency, operator access, and monitoring capabilities.


• February 2023: MEC announced the NANO10-XD electric scissor lift, featuring a standard Xtra Deck for easy navigation in tight spaces such as 2x2 ceiling grids. This compact lift reduces environmental impact with an all-electric lift, steer, and drive system, eliminating oil leaks.


• February 2023: MEC Aerial Work Platforms introduced the NANO10-XD, an all-electric scissor lift designed for environmentally sensitive applications, boasting a compact design and standard lithium-ion batteries for extended duty cycles and reduced charge times.


• November 2022: CanLift Equipment Ltd. expanded its product range by adding two rough terrain scissor lifts from XCMG, providing customers with additional purchasing and rental options.


• October 2022: Genie responded to consumer demands by offering lithium-ion batteries for their GS E-Drive slab scissor lifts, enhancing durability and reducing noise levels.

REPORT COVERAGE

The research report focuses on leading regions across the globe to offer a better understanding to end-users. Moreover, the report offers insights into the industry dynamics and analyzes technologies utilized at a rapid pace across the world. It also displays some of the key factors and restraints to help the readers gain in-depth knowledge about the market.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019 – 2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024 – 2032
Historical Period	2019 – 2022
Growth Rate	CAGR of 7.9% over 2024 to 2032
Unit	Value (USD billion)
Segmentation	By Product Type Scissor Lifts Boom Lifts Telehandler Others (Vertical Mast Lifts, All Terrains, Rough Terrain) By Power Type Engine Powered Electric Powered Hybrid By Lifting Height Less than 20 Feet 20 Feet - 50 Feet More than 50 Feet By Application Construction Utilities Transportation Others By Region North America (Product Type, Power Type, Lifting Height, Application, and Country) U.S. (By Application) Canada (By Application) Mexico (By Application) Europe (Product Type, Power Type, Lifting Height, Application, and Country ) Germany (By Application) Italy (By Application) France (By Application) U.K. (By Application) Russia (By Application) Rest of Europe Asia Pacific (Product Type, Power Type, Lifting Height, Application, and Country ) China (By Application) India (By Application) Japan (By Application) South Korea (By Application) Rest of Asia Pacific Middle East and Africa (Product Type, Power Type, Lifting Height, Application, and Country) GCC Countries (By Application) South Africa (By Application) Rest of Middle East and Africa South America (Product Type, Power Type, Lifting Height, Application, and Country) Brazil (By Application) Argentina (By Application) Rest of South America