Infrastructure Maintenance Paves Way for 1.5X Growth in Global Aerial Lift Platforms Market - FactMR

DUBLIN 2, Ireland - July 21, 2020 - PRLog -- The global aerial lift platform market was valued at US$ 8.6 Bn in 2019. Tailwinds from the development of urban infrastructure and subsequent adoption of modern lifts are major factors for growth in the coming years. Aerial lift platforms are gaining a reputation as the ideal alternative to conventional truck lifts and carabiner based systems. Market players are rapidly adopting partner-based business models as customers prefer renting an aerial lift platform. This is due to the high capital investment required to purchase an aerial lift platform. Construction applications of aerial lift platforms in elevating materials and labours is regarded as a primary growth driver for market players.

Further, the increasing demand for rental aerial work platforms in emerging countries such as China, India, Brazil, and Mexico has enabled companies to reduce time along with the cost related to transportation. This in turn is anticipated to provide lucrative opportunities for players in the aerial work platform in the near future. Owing to multiple advantages of aerial work platforms such as greater safety and faster maintenance, aerial work platform rental service providers are launching their distribution center in these regions, further supporting the growth of aerial work platforms market. The newest report by Fact.MR estimates that boom lifts will create an absolute $ opportunity of US$ 2.7 Bn during the forecast period.

Report- https://www.factmr.com/report/4674/aerial-work-platforms-...

Key Takeaways of Aerial Work Platforms Market

• The global aerial work platforms market is estimated to create an absolute $ opportunity of US$ 4.3 Bn between 2019 and 2029 owing to the steps being taken by rental companies to enhance their fleet size on the back of growing demand for various scissor lifts from emerging countries
• Boom lifts are expected to grow 1.4X more than scissor lifts during the forecast period and is projected to grow at a value CAGR of 4%
• Construction segment is estimated to remain the most lucrative segment by ownership in the global market accounting for 37% of the market share by the end of forecast period
• Collectively, North America and Europe are estimated to create an absolute $ opportunity of US$ 2.6 Bn during the forecast period 2019-2029

"Global aerial work platforms will create enormous opportunities as governments of several countries are re-evaluating safety standards to encourage the adoption of aerial work platforms coupled with infrastructural improvements in the emerging countries." –Says the Fact.MR analyst.

PR Source- https://www.factmr.com/media-release/1429/global-aerial-w...