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Aerial Work Platforms (AWP) market Future Prediction Report 2023-2033
The global market for aerial work platforms was valued at USD 15,850 million in 2021. This market is expected to expand at a 6.2% compound annual growth rate (CAGR), between 2022-2032.
The global Aerial Work Platforms market is expected to grow substantially over the next few years due to increasing demand for aerial work applications, such as maintenance and repair services, infrastructure development projects, and safety compliance requirements in various industries. Moreover, factors such as technological advancements in AWPs that facilitate better maneuverability and ease of operation are also driving their adoption. The emergence of autonomous aerial work platforms with advanced features like obstacle detection capabilities will further boost its growth potential.
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Increasing Demand for Aerial Work Platforms for Construction and Maintenance Purposes
A growing market for aerial work platforms is driving its growth. This is due to the increased number of construction activities worldwide and the need to maintain existing civil infrastructures. It is also supported by increasing urbanization and increasing construction spending. Construction companies use aerial work platforms extensively because they can reach heights that are not possible with other methods. These platforms make it easier for civil workers to complete their tasks. They also allow them greater mobility and flexibility which contributes to increased work efficiency. Aerial work platforms can be rented or purchased by organizations in the construction sector. Renting machinery has become more popular in recent years due to rising capitalization costs. The demand for aerial work platforms is also increasing due to an increase in equipment rental providers. These factors will drive global growth in the aerial platform market.
Key Market Segments:
Other Product Types
Transportation & Logistics
Construction & Mining
Key Market Players:
Advance Lifts Inc.
Other Key Players
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